Amateur football trader

[shadowvkc]

Well last night saw me 'green-up' for the 3rd time this week. Im very new to it, so imagine my dissapointment last night as I lay in bed thinking about this. I had layed the draw with Liverpool v Lille. A late goal comes in and I quickly green up for a profit of £13.90. BUT being a late goal, the draw odds soon start to rise like crazy, and at one point they were actually at 100! If I hadnt been so click-happy then I could have made well over £1k last night, but instead im sitting on £13.90. This is a very valuable lesson to me, and hopefully so some other new traders also

[froment]

Re: Rookie Trading Error Hmmmm... Surely one must be dissapointed putting in pocket 14 GBP instead of a grand, but I'm not sure you need to be dissapointed by your action - if you don't trade out, but wait the end of the game, it's gambling, not trading; now, just imagine if you were in Benfica vs. Marseille game - the equalizer went in in injury time, the entire profit is wiped out; and there is a load of such a games, where decisive goal is scored in last minutes. Though, as you say, as novice you probably were not aware of odds movement - closer the end of the game, higher the movement of odds, as oposing team has less time to equalize, and immeadiatelly after a goal, there is big discrepancy between back and lay odds, so it takes a minute or two for market to stabilize. I suppose that you just clicked on best odds available at that moment, and it was a mistake: I suppose that best back odds in that moment were, let's say, 10, and best lay were 50; so you shouldn't accept 10, but offer, let's say, 40, and chances are someone would match it very soon! If I were you, I would surely not wait the end of the game, but trade out, but not so fast. Odds movement I mentioned is kind of difficult to see at Betfair's site; if you have serious aspirations towards trading, may I reccommend you using some application that has ladder, where you can much better follow available prices and amounts, and their movement. Geeks Toy is free of charge, although somewhat complicated to use, while Gruss and Fairbot are excellent, and after 30 and 15 days trial available, you will be able to evaluate if they are worth purchasing. And another advice: when posting screenshots, hide your account balance and all that stuff in address bar; I might be paranoid, but I'm not sure that some experienced hacker cannot make use of all that address letters, and earn your 2.200 bucks without much trading! :D Good luck in the trades to follow! :ok