are certain personality traits evident in all the best
on the Stock Market or on a Sports Betting Exchange.
Not everyone is cut out to be a
trader. Trading requires a certain
personality type and attitude.
must be firm, logical assertive and decisive.
must be willing to accept and learn from your mistakes.
must be able to follow a system and accept the rules without
must be aggressive and quick in following your predictions.
must be humble enough to realize that you must NEVER fight the
must be able to accept LOSS without judgment or self loathing.
are personality traits which can to some degree be learned, in that
trading can be taught by a set of rules, but the
core personality is
either there or it is not.
other thing which is always missing from Betting Exchange trading manuals is:
reality of trading “profits”
days profit will be defined by the profits from trading decisions you
make that move in the correct direction minus the losses you make from
trading decisions you make that turn against you minus the
commission taken by the broker or the commission on profit taken by the
is utterly essential in race trading is the insight to see quickly
when a trade is
going against you and work to a system that activates a “Stop Loss”
at a set predetermined level that you MUST stick to.
I discussed previously, due to the extreme volatility of horse starting prices,
what can be an early morning steamer can
so easily be a pre-race drifter with news
coming out from the stable, trainer, owner or jockey.
Particularly so when the horses start warming up, “going down”, and
the on-course betting professionals get their first look at the runners and
HAVE to accept this as part of the sport. If you have already backed the
horse and it starts drifting, you HAVE to lay it off
when the price
reaches your predetermined Stop Loss.
can of course leave a trade alone once it moves against you, and pray
that your horse wins or loses depending on whether you opened with a
Back or a Lay, but this strategy is a form of recreation known as
“Gambling” which is a different kettle of fish altogether and
is dealt with in my FREE Daily Tip Sheet
which you will find on the menu at
setting a Stop Loss it is important to understand the concept of Market
Stock Market terminology the “Buy” price of any given stock is
always higher than the “Sell” price at all times.
So it can be seen
that the Sell price has to move to a significant enough degree that it
is higher than the Buy price you paid in order for you to make any
profit at all.
difference between the “Buy” price and the “Sell” price is the
situation is similar but subtly different with Betting Exchange
will see that at all times the Lay price is higher than the Back
price, and so the Back price has to move to a significant enough degree
that it is higher than the Lay price that you paid.
Or conversely, the Lay
price must move such that it is lower than the Back price you paid in
order that your trade can possibly make any profit.
The normal process is to work in such a manner that we are looking to Back
horses at what appear to be unjustifiably long odds and hope that the
horse begins to “steam” in, making the price shorten as more money
comes in to Back it.
The shortening price simultaneously pulls the Lay price down with it and we can
the horse off to lock in a guaranteed profit, as I will demonstrate
you learn to trade on the betting exchanges you will begin to notice that you win more than you
lose as you start instinctively identifying and following common
you become more experienced at spotting price trends you will spot patterns
earlier and act on them more quickly and more decisively.
I also believe strongly that it is important to remember that when you are winning you are
taking money from punters who are less experienced and
may be that their lack of experience means they
too late or haven’t the insight to act on currently available data, or
have just made an incorrect decision on an event.
may sound harsh, but that is the reality of race trading
on the betting exchanges, and if you don’t win there is
only one other option available.
1: Betting Exchanges pays on
average 15-20% higher odds than traditional bookmakers.|
2: More people make a
profit on Betting Exchanges than they do with traditional bookmakers.|
3: Losing punters lose less money with Betting Exchanges than they do with
About 90% of people using Betting Exchanges
STILL lose money
there it is, for all the internet hype, the bravado, the marketeers
their big egos telling you this and that about the “Pot of Gold” that
are Betting Exchanges.
truth lies somewhere in the 4 facts above as stated.
making statements about Betting Exchanges - the “Pot of Gold” they are boosting
liquidity via inquisitive short and medium term punters who are either
transient or go on to get hooked.
you me, this stuff is powerful, addictive and groundbreaking.
technology is very advanced, reliable, exciting and innovative.
of the liquidity which it generates, even traditional on-course bookies
and the large high street chains are using Betting Exchanges to hedge against
large losses while on course when their books drift out of balance.
the huge wagers coming in one minute before the off. This is the real
big players and the bookies balancing their books.
is also very important to remember that trading is still indirect gambling.
you are not directly betting on the winner or loser of a race, you are
still gambling that a price will move in the direction predicted, if you
get it wrong your trade can only possibly lock in a loss rather than a
profit meaning essentially that you have lost before the race has even
is a particularly unenviable situation to experience. These are the type
of occasions when you will see red and start making rash, uninformed
decisions on nags that have 2 hopes. Bob and No!
your losses can only lead to the poor house, but we have all done it.
If you cannot handle LOSS then you are the
wrong personality type for
trading or any other form of gambling and should keep your money in a
high interest savings account.
you make ill considered wagers, like anywhere else, you will
and if you are losing a lot of money the attraction will soon wear off,
and Betting Exchanges will STOP being fun and profitable.
are the Betting Exchange
And what are their common features?
are full or part time professionals|
are experienced recreational gamblers.|
are often traders using all the tips, tricks, information resources
and experience at their disposal.
They use powerful hardware and professional betting software, API's and
bots, and are
prepared to lose money initially to learn their trade.|
may use Satellite Information Services to watch the events live and
gain an extra edge.|
They practice, hone and develop their skills and learn from their own
They practice a “series” of rigid systems that DO NOT ALLOW FUN BETS.|
perfect their skills on one system and one sport before moving onto
why Trading, rather than Backing or Laying?
In Part 4 I will outline the various betting mechanisms available
through Betting Exchanges, why they are so exciting and
innovative, and why so many punters looking for long term profitability
concentrate on Race Trading.
are punters doing well with Backing and Laying
systems,, but as I said
before these strategies are more generally known as “Gambling”.
is an innately higher risk, higher reward, and higher octane type of
strategy, that I discuss in my FREE Daily
I want to concentrate on is “Trading”
and later on Dutching Field Reduction and Bookmaking.
All confirmed long term profitable Betting Exchange strategies.
will talk about the psychology behind online gambling and the discipline
required to become one of the 10 % in the black rather than the
90 % in the red.
will then move onto the rules of my Trading System that will enable you
to start scalping, trading and hedging on
the Betting Exchanges to beat your opponents
and set up an artery pumping cash directly from their account to yours.