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Betfair Trading Room - Update
- By Laytheodds.com Admin
- Published 03/28/2006
- Exchange Traders Corner
-
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Laytheodds.com Admin
Laytheodds is dedicated to helping people make money on Betfair! We have put together a collection of articles, tutorials, tips, tricks etc to give you advice on the exchanges. Information includes - Betting Exchange Trading, betting bots reviews, betting software reviews, betting exchange trading articles, Lay betting products and trading tutorials.
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For those that know Bet Exchange Traders it will come as no surprise when I tell you that it gives me huge pleasure when I hear about traders that are taking things very seriously, getting their greed under control and letting discipline rule their trading.
Since I opened the live trading room, many traders have already reported how much their trading has improved. To want to improve your own results is normal, but what I want to say is that you should always remember if there is an easy way to get somewhere why take the difficult route.
Twice a week I publish the Trading Post, this is an email delivered recommendation service. The recommendations we trade live in the trading room.
Many traders are taking the easy route and building their own confidence by following my trading post recommendations and as a result of its success also building their bank. I have also seen several other traders who have taken the opportunity to do their own homework, people who are quietly working away with smaller stakes and fixed daily targets using their own methods which again builds confidence and the bank.
The point that I want to make is that people are generally taking the easy and controlled route to their success. However, and I dont want to sound critical here, life isnt that straight forward for all traders and some people due to a conditioning of bookie satchel filling seem unable to allow themselves the pleasure of getting green in the easiest way. It is almost as if, they want to make life hard for themselves, perhaps they are condtioned to losing, they attempt trading styles and event types which are for more seasoned pros. When they fail at these events they carry on as if banging their heads against a wall the thinking being that the harder you bang your head the more likely the wall will fall over whilst in fact what it really means is that youll just damage your head even more.
When you start trading choose a leisurely paced event type football is an example. Get green using this sport. Take the easy route. Horse Racing is a great sport and can also be a very lucrative trading vehicle, but it is also not an event type where beginners should start. To carry on trying something where the odds are against you from the beginning just doesnt make business sense do you think Tescos will open up where they know they wont make a profit??
View your trading as a business easy to say that you do this - very easy to give lip service to the statement but truly regard your trading as a business, consider any losses you incurr as paying your rent or local taxes. Traders just starting out are often unable to do this. Likewise only go for the best trading opportunities; dont feel that just because there is a game on tonight that you have to take an angle on it or get involved in a trade not all games offer you the high probability outcome which you require. Do your homework and get stuck in to some stats and work out a strategy but make sure the strategy stands up and that you know what you will do for both a stop loss exit scenario as well as a profit scenario.
Probably best though for a beginner or even advanced traders is to join the Trading Room trade the Live Trading Post selections with me, this will get you green very quickly and build your confidence accordingly use the room as a springboard for even greater trading success.
So the message is take the easy route build your confidence and your bank.
Spread The Word
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