Tuesday, 16 June 2015

The five stages of betfair trading

Yesterday I just made one trade, today was full of action. I was again not 100% happy with my trading, nevertheless I closed the day with a good profit.

There are five stages of Betfair Trading: http://www.geekstoy.com/forum/showthread.php?1589-The-5-Stages-To-Betfair-Trading. I am confident that I reached step four. Perhaps I am already near to step five. At the moment I normally have a profit at the end of the day, but the trading is not really smooth. Sometimes I take too much risk, often I am too slow or unsecure. It's still a fight like Carlos Berlocq on the tennis court and not the magic of a Roger Federer. How we all know, Carlitos can win tournaments, but these are rare moments. He fights and makes his income, but all the professionals like to be grand slam winners or at least part of the top10 in the world ranking.

That's the same in my case... I am (hopefully) not a loser anymore, but I am far away to be a Top10 tennnis trader. How far I can go the future will tell. Probably I have not the talent of a Federer, but with hard work you can reach big things (like Wawrinka).

First time since I started with trading, the strategies seem quite stable. I feel comfortable with all aspects like risk-/reward-ratio, exit-points or entries. Perhaps there are small issues with the reinvestment of the profits and the handling with lost offplay trades. I have the feeling that I could take more risks with profits and less with "red books".

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