Trading- What am I doing wrong?

[Evertonboy]

Afternoon, This morning I tried my hand at trading. I have traded before but didnt find it worthwhile and gave up. When I first dabbled with it I came up with the following rules:

Tra-mbling 1. Target profit is 1.5% of bank per day. (Slow and seady wins the race) 2.Identify only 1 horse per race. (No need to run before i can walk) 3. Study the market and Use the graphs to identify a specific patern in a horses prices before entering a trade 4. Back (with a view to lay) only to begin with to limit liabilities 5. Exit point is 3 ticks difference to entry point. (Even if that means a small loss- its better than losing my whole stake) 6. Exit 60 seconds before the off no matter what.

After watching a few videos and reading some sources I have added to the above with following: I will look at any horse racing/ cricket/ tennis/ football that is live and has in-play betting available. *To Qualify as a possible bet, the market must have good liquidity (Around £100,000+ traded) *Market must also have well distributed odds *I will have Oddschecker open in order to compare the available odds *I will target selections at no greater price than 6.0 in order to reduce liabilities. Now, after putting that in to practice I am having an absolute mare :cry Every trade i seem to make goes against me. I am watching the graphs of all participants looking for any movements, Im looking at oddschecker for any movement in prices from the bookmakers. Can anybody give me any advice on how i can improve? Regards

[ovo.cosmico]

Re: Trading- What am I doing wrong? Hi, usually I trade only on Betfair, not with the bookmakers... You lay and wait for the back odds to rise over and then trade. Or the other way around. Actually it's quit difficult to profit unless you know what you're doing, how the odds move during a game or a race. Maybee you should read a bit more about it and paper trade it for a while...;)