Lets Get Rich Now

Boring

2011-07-07T11:43:00.000-07:00

Well its been a long time since I last posted, cheesed off by not making 3% a day. So what am I doing now? A mixture of Trading, betting and some paper testing various systems. My main money source is Lay the Draw (LTD), so with it being close season in most major leagues in Europe its quiet and not many games being traded. Their are a few services on the market, each has a slightly different approach to LTD. Mr Betfair, FTS, Exchange Traders and Matt Abrahams are a few, Some will charge a one of fee and at least one charges a monthly fee, so if you are interested give them a google and do some research. I do use one the above services, but out of respect I will not give away any details.
I mentioned paper trading, quite a few on the go, cricket, trading horses in play, football value bets and laying horse racing naps.
So a brief update, maybe a bit more info on some paper trading next time.

Trading update 19 April 2011

2011-04-19T10:08:00.000-07:00

OK, all good runs come to an end, lost the bank on Sunday evening trading Espanyol game, caught scalping with 1st goal, then went chasing losses by scalping, got losses down to -£4, then lost it all just before half time when another goal went in.
So from this scalping trial we can see scalping alone on unders & overs will not produce a profit in the long run, what you can use scalping for, is free bets on various markets when used with other strategies, at this stage i will not go into those, as it is quite long winded to explain. If you want to explore that avenue, try Bet72 site and seek out Betnotes, for a one payment you can secure the details.
OK, so the next system I want to take a look at is Lay The Draw (LTD), see upcoming posts for more information.

Trading Update 16 April 2011

2011-04-17T03:49:00.000-07:00

Man Utd v Man City Under/Overs 1.5 Goals market
Profit £1.18
New Bank £34.56
Stakes for next trade £34

14 April 2011 Trading Update

2011-04-15T10:17:00.000-07:00

Traded Braga v D.Kiev 1.5 Goals market.
£1.19 profit
New bank £33.38
Stakes for next game £33.

Trading Update 13 April 2011

2011-04-14T10:02:00.000-07:00

Traded Spurs v Real Madrid.
Quick in and out within 10 minutes for a profit of £1.10
New Bank £32.19
Stakes for next game £32

11 April 2011 Trading Update

2011-04-12T06:56:00.000-07:00

Liverpool v Man City £1.20
Match started at a frantic pace coupled with an early goal meant it was hard going. Started on 1.5 Goals market then switched to 2.5 Goals market after Liverpool goal. I had to wait a few minutes for the 2.5 Goals market to settle after goal, lots of money being traded on this market, in excess of a million.
One way of scalping 1.5 market differently is not to hedge your green as you scalp, wait for say 15-20 minute mark then hedge for profit, downside is a early goal will decimate profit, you will not loose anything but you will have to start again. You could base your decision on stats or get a feeling wether goals will come early as you watch the match.
New Bank £31.29
Stakes for next trade £31.

Trading update 10 April 2011

2011-04-11T06:43:00.000-07:00

Blackpool v Aresenal £1.02
Aston Villa v Newcastle £1.39
Valencia v Villarreal £0.55 Mistake made, spent most of first half redeeming mistake and making a profit.
Total for day £2.96
New bank £30.09
Stakes for next trade £30

Sporting Exchanges.

2011-04-10T05:56:00.000-07:00

Betfair is the most common one used for trading, majority of trading software work in tandem with Betfair. Their are other exchanges to be considered, of these only Betdaq are the only other alternative to work with some software providers.
Betfair has a huge number of markets, because they are market leaders they have a high commission rate starting at 5%, a points system based on winnings and loses, funny enough you get more points for losing. When you reach different levels you get a discount on the commission rate. Promotions are plenty as well.
Betdaq is a good alternative to have as a backup to Betfair, last few months have seen Betfair website crashing especially on Saturdays. Betdaq have a 5% stating point for commission, thou its quite easy to reach the next rate which is 4.75%.Look out for smaller commission rates on asian handicaps 2%. Promotions are rare.
WBX smaller exchange, use to do regular promotions, no promotions in recent times. Commission around 5%.
New exchange on the scene are Smarkets, less markets than other exchanges, odds are competitive and plenty of liquidity.
My personal preference is Betfair for trading, Betdaq for betting.

April 9 2011 Trading Update

2011-04-10T03:24:00.000-07:00

2 Games traded today.
Everton v Wolves Profit £0.77.
Someone else was trading this game, every time a put my stake in, money was undercutting me and it was £25 most of the time, no problem, still achieved objective.
Barcelona v Almeria Profit £1.06
Amazing odds on the Under 1.5 goals market, started around the 14 mark, normally it would be around 3-4.5. With hot favourites such as Barcelona the punters expected loads of goals. Finished scalping by 14 minute and scoreline was still 0-0.
New bank £27.13 / stakes for next game £27.

7 April 2011 Trading update

2011-04-08T06:46:00.000-07:00

Watched and traded Porto Europa league game. In & out in 11 minutes. The odds on under 1.5 goals was quite high and because of larger difference between ticks a larger profit can be made.
Profit £1.05
New Bank £25.30
Stakes for next game £25.

6 April 2011 Update

2011-04-06T12:06:00.000-07:00

Chelsea v Man Utd 1.5 Goals market £0.85 profit.
New bank £24.25.
Next game £24 stakes

6 April 2011

2011-04-06T07:46:00.000-07:00

Scalping looks like easy money, we seem to win most of our trades, we can get a false sense of security.
We know if we scalp the 1.5 goal market that any goal in the middle of a trade will loss 2/3 to 3/4 of our stake. This is why we have to be careful and take note of what is happening on the pitch with our finger ready to cancel any trade when a goal threatens.
So we know roughly how many bets need to win to cover our loses, because we are adding profit to our original bank to create a new bank, we are increasing our stakes quicker and doubling our bank every 24/25 trades based on 3% profit of bank per trade, this is called compounding.
There is a calculator tool for compounding, it can be found on this address http://www.iii.co.uk/savings/
Yes i know its a savings calculator, it does the same job ( its half way down the page).
1) enter profit target for month.
2) enter target profit for day ie: 3%
3) enter in lump sum starting bank
4)leave this empty.
press calculate and scroll down answers, substitute year for days to give you an idea. An ad-hoc idea you agree but it works for me.
So in summary with scalping we have to be very careful and pay attention to what is happening in the match, as we know we need many trades to overcome a single loss.
Some traders will risk staying in the market once they have been caught out by a goal and make a judgement that another goal will not happen for a while, this means the odds will recover and losses will be less or eradicated. Trouble is a second goal quickly after the first and you will lose the whole stake.

5 April 2011

2011-04-05T12:15:00.000-07:00

Just Traded Real Madrid v Spurs, early goal meant 2.5 goals market on Betfair was my chosen market. In and out with 1 trade for a 80p gain.
New bank £23.40
Next stake £23.
What you will notice with unders/overs market, if a goal not scored the odds will move down or up in a predictable fashion, were you can make extra ticks are on variances, sometimes the market will over compensate before moving back to average price, this variance could be down to action on the pitch or weight of money in market. Jumping on this over compensation means you can often gain 2 or 3 ticks in quick time, this also means you can reach your target profit for the match in less trades, for example tonight I needed only one trade to reach my 3% of bank target.

3 April 2011 Update

2011-04-03T12:24:00.000-07:00

Traded Ossasuna v Ath Madrid 1.5 goals market. In and out in 17 minutes with a little extra profit of £1.20 due to quick movements of odds.
New bank: £22.60.
Next game scalp with £22 stakes. Next time I would like to talk about cost of losing and win rate.

April 3 2011

2011-04-03T11:16:00.000-07:00

Trading is done via Bet Evo, the good thing about this software it has a training mode, which is very useful if you want to try out different methods before committing to real cash, it acts in the same way as if you were trading for real. With in play bets you tend to get bets placed quicker due to quicker refresh rates of data compared to using Betfair site.
If you want to check it out, here is the website: racingtraders.co.uk, their is a forum, a manual, contacts. A 7 day trial is available and subscription packages available.
Just to be fair their are other software for trading available such The Geek, Betfair Angel and a few others, so do your homework first and make use of any free trials before paying any money.
Right I'm of to continue scalping trial, hopefully post results tomorrow.

02 April 2011

2011-04-02T11:25:00.000-07:00

Just traded Getafe v Valencia 1.5 goal market and 2.5 goal market for my 3% increase on bank.
So after 2 matches I'm up to £21.30.
1.5 goal market was not very liquid, only partially matched and hedged. Goal meant a change of plan, swap to 2.5 goals, all done and dusted by 15 minutes, will use £21 stake next match.

31 March 2011

2011-03-31T11:00:00.000-07:00

Lack of soccer on TV makes it risky to scalp. So what media set-up do we need? Well we need a match which is going to be shown live, majority matches are shown on Sky with regular matches on ESPN and also a few matches on BBC, ITV and channel 5.
I would recommend not using HD channels, seems to be extra delay on broadcast compared to non HD channels.
When is the best time in a match scalp? Not always, but in most matches the first 15 minutes, when sides are settling into a game. I find when the ball goes out for a goal kick or injury is being attended to is when i will put in my trade, if we can combine this with a gap in the market all the better.

With the weekend a couple of days away I hope I will be able to raise my bank with my scalping.
Next time I will give you a insight into trading software.

March 29 2011

2011-03-30T08:01:00.000-07:00

Using Bet Evo trading software with Betfair, I decided to have a go at scalping. Starting with £20 bank, I will use whole bank to gain 1 tick profit, I use tick offset tool on Bet Evo and also tick hedge to gain instant green across market.
Aim is to make 3% of running total inc commision starting with £20, i will reach a limit were stakes will be to big to make it safe to scalp.

Tonight traded England v Ghana 1.5 goal market. Backing under, then laying 1 tick later. Should of took no more than 15 minutes to gain 3%, I made a few mistakes, but managed to get my profit at 35 minute mark.
New Bank £20.70.

Wednesday 9 March 2011

2011-03-09T11:39:00.000-08:00

Started on Monday trading live with a new in running trading on the horse racing. With a bank of £20, I will use to £2 stakes on 3 horses in each race, idea is to capture profit on downward trend when a horse is running well.
Have to say the first three days have been hard, never the less I have made a profit and my new bank stands at £21.59. When i get to £30 I will increase to £3 stakes and so on.
I'm a bit disjointed with my recording of results on other systems I am using, so from next Monday I will record my Football results from a Lay The Draw system.
At some point I will put up some screen shots, just need to identify a way of blanking out sensitive information.
On the survey front, no extra rewards to report at the moment.

Monday 7 March 2011

2011-03-07T12:32:00.000-08:00

Bad day yesterday, as a result a have severed ties with one of my trading services. I have signed up to another one, early days but that seems promising.
Right today started trading horses today for small stakes and made a small profit of £1.88 (drum roll please).
Its using a concept I read about on another forum, we will see how this goes over the next few weeks and if I'm confident its a winner I will print some more details and maybe a screen shot or two of my winnings.
I mentioned in my profile that I also did surveys for a bit of cash, today I received a £5 Amazon voucher from "the clubhouse", you can only join by invite, so its no good me posting a link.
Tonight a few footy trades on, so I will report on those tomorrow.
Profit to date for week is £6.88

Sunday 06 March 2011

2011-03-06T05:53:00.000-08:00

Welcome to my first post, today i am going to do sports trading using lay the draw technique and other strategies.Betfair is the exchange I use most, this is down to liquidity rather than the commission they charge.
So tune in later or tomorrow for around up profit and losses.