Betfair trading | How I successfully minimise my losses | Peter Webb | Bet Angel
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- čas přidán 11. 12. 2020
- I recently posted a screenshot of my trading on a Saturday and why I thought it was a good example of good money management when Betfair trading.
So I thought it was worth doing a follow-up video fully explaining what I meant.
Successful and profitable Betfair trading is a balance of profits and losses. If you trade a market at random, you will get random results. But, as somebody who is consistently profitable, how am I minimising losses?
In this video I discuss, setting realistic targets, what my balance of profits to losses are and how I minimise losses by tipping the market in my favour.
You may also want to watch the other video that is mentioned in this video!
• Betting Tips: The secr... - Sport
I think showing your P/L in the ways and amounts you do is spot on to be honest. The truth is there's so many wannabe traders that want that easy one way, quickest, sure fire trading strategy that turns them in Peter the 2nd over night and earning ££££ each day ..it's not going to happen. You have to spend time like Peter says learning the markets how they behave at certain timescales too, money/stake/loss management are hugely important phsycollogicly accepting that loss as easy as a gain, building your strike rate is the most important to success long term. Stakes can be scaled up to a certain market limit anyway once strike rate is mastered.
Spot on, but I doubt few people will find this video as they are just searching for 'How to make a risk free income from betting'.
thank you Peter, for me one of the best videos you have done, great advice and information.
Glad you enjoyed it
Thanks Peter. A light went on in my head and it changed my way of thinking! Great video.
Glad it helped
Thanks Peter, I am watching your videos this 2 years and not had the time to really get into this. I simply find the videos fascinating and I will definitely use your platform when I am going to commit. Hope you're well
Glad you like them!
Little and often! Sensible advice.
Refreshing as always. Thanks Peter
Very welcome
Love you videos Peter. Really like you losing trade examples. Over the years I find my share of winning trades but get slaughtered on my losing trades and poor risk management
Hello Peter, I just wanted to say that after watching quite a few of your videos now I can say that you have caused a paradigm shift in my thinking. Previously, even despite my better intentions, I would get bashed around by the market and try to catch each drift/steam to steal a few ticks. Having watched your videos today and finally taking note of what I have heard you say several times before, i.e. you have a strategy for a particular market, execute that strategy and if it doesn't work you don't chase after or force something that is not there. I have already today been analysing the markets in this manner with the knowledge that if my desired strategy does not work then it will be abundantly clear and the way to close out the trade will be obvious. One of my flaws, and I imagine that of many yet to be consistently successful traders, is hanging on to a losing trade in the "hope" that things go as you would like - rather than the more rational decision to exit out of a trade that isn't going as planned per the ideas formulated upon examining the market. Thank you for your videos. Tom.
Many thanks for taking the time to leave your thoughts. It is much appreciated.
Thanks Peter - great advice and particularly pertinent to me on a number of points.
Glad it was helpful!
Thanks Peter. I appreciate your contributions!
Thank you. I really appreciate the comments.
true legend with brilliant advice.
Thanks for the words of wisdom mate. I bought the software recently. The videos are really helpful in addition. Cheers
Glad to help
Peter, just when I am making connections and thinking through a situation, you pop up and explain it beautifully for me. Thank you for the software and excellent content. I am really starting to get to grips with this now.
Thank you for your comments, that's great to hear.
Thank you so much Peter. 🙏🏽🌟
Any time!
Thanks For sharing Peter, so much knowledge and experience. You should really write a book. Kindest regards from Brazil
Maybe one day! I have heavily documented everything, but turning it into a book would be quite a task. Maybe when I stop trading I'll look to put it into one.
Excellent, thank you very much, Peter. That has given me a new insight on how I am going to improve my Betfair trading. I do well some day's then I seem to always take a big loss a day or 2 later that puts me back to a minor gain.
I'm pleased that you found it helpful
Thank you so much for posting these videos
It's my pleasure
thanks peter im starting to smell the coffee im learning a lot of good stuff of you thanks
Very welcome
Thank you Peter, very interesting and appreciate you sharing your thoughts and experiences on this topic. I’m very early days, testing the water with minimal stakes... strike rate is good but could be beginners luck!
Don't forget to remember that most sports are seasonal, so results will shift around a bit
Seriously great video Peter!
Many thanks
Cheers for the video's Peter they are valued.
Thanks for letting me know. It's appreciated.
Great 👍 Thanks for sharing your experience with us
My pleasure
great video peter ,Many thanks i am still puzzled after all these years betdaq still not liquid enough!!!!!
Seems destined to remain that way. I trade on it most days, but always some way behind Betfair.
Very informative. Thanks.
Glad it was helpful!
Posting results shows you skin in the game. One pro doesn't show P&L's. Even gets upset when asked. Would rather make youtube videos "top 3 ways to make money on horses.."
can make income with youtube also safer than just trading
I think the YT income is quite a lot lower than you’d expect, but of course it’s another trickle of diversification in the Webb empire. It is excellent value for viewers as an essentially free resource, so you can’t have any complaints.
@@James-lq1po yes. you get value from peters videos for sure & it promotes his website
Really enjoyed this video
Glad you enjoyed it
Peter, great video as always. I learn a lot from your vids. One recommendation to improve your videos: if you reference another video, may you please put a link to it in the video. It will increase the likelihood of people watching the other videos in your channel and help us locate the relevant one with ease. A win-win.
Thanks, I must admit I'm very time challenged. So I don't do as good a job of that as I should.
If I was a full time CZcamsr I probably would take a bit more care to do it. Will see if I can make it a higher priority on future videos.
Im practicing at not having my balance shown now and gives you more freedom - later you look at your balance and better than what you think
‘How to fool randomness with a Galton board ‘great visuals 👍🏼.
Q. In order to measure the effectiveness of a strategy, it must be triggered by similar pre ordained conditions and have uniformly pre determined entry /exit points . The results are to be archived for comparison and for determining the success rate.how do you mitigate fill rate and slippage or is that factored in your strike rate?
Y, that's factored in but also measured. Execution is an edge as well so that's something that's tough to read in historical data.
Thanks 👍🏼
Great video, thanks
Glad you liked it!
THIS!
Another good video Peter. Can you give us a bit more information on what strategies generally work best on what markets (especially qith regards to Pre off trading).
I have covered this quite a bit in other videos. But maybe I can summarise it in another one.
@@betangeltv please do
Peter, what is the sports top in the frame behind? Thanks for the video!
That's a signed Paul Scholes top I won in a competition a few years back. I've got various bits of memorabilia scattered around the office.
How does a private local bookmaker make up their book? do they have automated systems or a trading team?
Thanks for a brilliant channel Peter.
Then you say you win on average 14 to 18 pounds. Can I ask what kinds of stake you are using 100. 500 or something completely different. Now I am fully aware that different strategies require different stake.
Regards
Michael
I stay within the liquidity of the market. So my stake rises and falls, but it's usually in the hundreds. Only on big meetings can I use larger amounts.
In Bet Angel professional trial version Total Matched bet so far 0 showing me. Please solve this problem.
Good video. I am surprised you say your average profit on some bog standard days is £14-£18 per race I would of thought it to be much higher.
"Bog standard" on average at this time of year. It rises and falls depending on the card and the types of racing I'm trading. Just didn't want to set unrealistic expectations. During big meetings and quality races I'd expect it to be higher.
Nice video sir. If you ever need someone to make the tea......
So nice of you, strong white, no sugar.
@@betangeltv No problem. Biscuits included. When do I start?
@@Kindofyoungadam CRAWLER!!! LOL
thanks for the video i really appreciated it,you mentioned another video regarding maths to have a look..can i have the link?thanks
czcams.com/video/kdJMvqOZK8o/video.html
Great video Peter!!! I have a quick question for you... do you use Betfair graphs? Or you just trade and take action on what you see in the market? Thanks 👍
Betfair charts don't represent the market very well, so I only tend to use them lightly. They are broken at the moment anyhow - czcams.com/video/UXacnQb4dyk/video.html
@@betangeltv thanks Peter!! Great help 👍
9-56: Thats 'cos you're a rich old boy! LOL ;-)
do you have video of strategies you use for each market?
All the videos on the channel address this. I have video on short priced favourites, competitive handicaps, maidens etc. It's all on the channel.
Hi Peter I’ve been watching your lay to back bot, can I have up to five selections per race? If so how do I do it.Help!!
Matt
In Guardian, you can use the new 'list' feature to add additional nominated selections. Up to five by a coincidence.
Hi Again Peter
Sorry one more question, on average, how many hours a day do you trade ?
Regards
Michael
It depends how you define, me, as it were. I have automation running pretty much 24x7 but my core trading hours in the summer and from 2pm to 9pm
@@betangeltv thanks so much for your answers, and again thanks for your videos.
should you ever get to dublin, and the pubs are open, let me know and the first round is on me :-)
Regards
Michael
some of my strategies are beating the betfair odds with 2 to 4% in terms of the implied probability, how can I calculate if thats pure luck or an actual edge?
I have covered this in another video. There are mathematical ways to do this, but this is a simpler and equally effective approach - czcams.com/video/S-i3fSkT9LI/video.html
But the big losses I experienced don't have a common theme of which type of race it is? I have no idea why.
They almost certainly do, you are probably just looking at it from the wrong perspective or not being consitent on how you apply a strategy. That would be my guess.
Can someone help me with a verified betfair account? I am from where it's restrited.
Could you trust somebody if they 'lent' you an account? I couldn't recommend this for a number of reasons, but a key consideration is that the Betfair compliance department is known for finding and closing accounts where they can't link the user the to the account holder. This is a regulatory requirement in the UK.
Hi, Peter! I enjoy watching your videos but often end up feeling disappointed as, even with your warm and friendly delivery, you usually avoid sharing the most helpful information. in this video you say, "...avoid the market where it (the strategy) doesn't work so well." For all your talk about how your 20 years of experience has helped you discover which strategy works well in a particular type of race, you never actually say which strategy works well in a particular type of race. Hey ho! Back to Tony Hargraves...
That comment was going so well until you mentioned Tony Hargraves. I can't quite work out if that was a joke or not?
I have actually laid out in great detail all manner of aspects of successful trading and indications as to what to do and when. But I can't spoon-feed content, as I know that's not the way you trade or can get profitable. I said on different videos what races I target and why.
I know some people will give you a simple process, but they do this so they can convince you to part with money. But if you really truly understand trading, you will know that a formulaic system or process just doesn't work in the long term.
You will just end up getting picked off by professional traders. Sad, but true. Work hard to be a real trader.
Thanks for your reply, Peter!
I'm happy that you thought my "comment was going so well..." until I mentioned someone else. I (and yes, I'm talking about me) find Tony's videos to be very accessible and to the point. They tend to be recorded in real time, something that I find very helpful.
I have commented positively about "your warm and friendly delivery" but, I would hope you agree, you often tend to use a "13min 29sec" video, or perhaps a "22min 48sec" video, to make a quite straight forward point. I have listened carefully to the content of a number of your videos, I have had a trial of "Bet Angel" and I now have have an opinion. I did not wish to appear rude, but I prefer Tony's approach.
Obviously getting into a situation where I need to provide you evidence of my trading "as [you] know that's not the way you trade or can get profitable" seems a bit silly in the context of a "below the line" comment, especially when you always ask for feedback. If you really would like to see proof of my profitable trading please let me know!
Best wishes,
Bryan
@Bryan Eade, I didn't have an issue with your comments and feedback. It's just that most newbies to this space don't realise what's in front of them.
Getting a winning trade is quite easy and I can give you a quick five-minute video that gives you a winning trade. People like those on CZcams and people on the sell-side produce them at a prodigious rate. But profiting in the long is much harder and that's why I go into more depth. It's the old 'Give a man a fish metaphor'
Unfortunately, the industry is geared up to flogging newbies easily digestible information that earns them revenue, directly or indirectly. Actually trading profitable long term themselves or for their customer is a total afterthought.
Ultimately, that's what you are up against here.
@@betangeltv Thank you for your latest reply, Peter!
I have been in profit with my horse racing betting (not trading) since 2008 - although I have never had a day even close to your £30K experience! I have tried a variety of strategies over the years and look at your videos for new ideas or different perspectives. I'm probably not part of the target-audience you have in mind when you create your video content.
Thanks again for your reply,
With best wishes,
Bryan
People get greedy then wonder why they losing always set amount you want and leave its really simple but People are stupid and greedy
Either you got really good skin or you are wearing make up Peter!
Took me half a day or so to work out that comment!
16-15: "If you want to avoid losses...." DON'T TRADE! Seemples! LOL ;-)
Sometimes not losing is a good way to win in the long term.