Betfair trading - What staking strategy should you use when you trade?
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- čas přidán 1. 09. 2017
- I've seen a few comments on what stakes should I use and why do I use certain stakes when I'm trading on Betfair.
So I thought it was about time I did a video on what stakes you should use.
It's important when deploying a decent trading strategy to ensure you use correct stakes. Fortunately, Bet Angel has a staking process built right into the software.
But getting the right staking system / strategy is vital to long-term trading or betting success. - Sport
I love your videos, you explain everything in depth and it's top class info.
G8 Video Euler..very helpful..many thanks.
aha! That's why i prefer not to trade on the favourite. I prefer second or third favourite for bigger returns but feel uncomfortable with the possible swings on outsiders. I have been considering upping stakes on lower odds so will definitely be thinking about this more. Want to get my skills up first before I increase stakes though!
Awesome videos Peter!
Many thanks for your feedback.
Great tip. Thanks
It only returns £1 if the selection wins, various lesser amounts when it's hedged.
do you have a video when you trade with this system in video
On another video you talked about your best day's profit, because nearly all your traded horses won. Does that mean you don't always hedge to equal profits?
My biggest problem is deciding whether to take assured return or free bet (or part of both).
For example, today on one race I was +£50 on 2nd fav and +£5 every other runner, with a chance to even out to £14 all round. What would be your thoughts?
The problem is, is when the price moves through a crossover point the amount per tick increases.
Does anyone know how to set a fixed liability for lay trades instead of setting profit?
This is all true BUT only before you hedge up you profit or loss. Lets say you trade with £10 per tick and you take a 5 tick loss on a low price favorite or on a horse priced ay say 8.40. then you true loss which is the only thing that counts will be very different after you hedge and truly take your loss or profit if it was a winning trade. So would it not make a lot more sense to use stakes that give you the same profit/loss per tick AFTER hedging? That makes way more sense to a math heavy person like me and is what I do.
Some of it depends on exactly what you are trying to achieve. If you can get in and out with one trade then you hedge as you exit. But because I may complete more than one trade I'll hedge at the end of the process.
The aim must be to hedge at the lowest possible price?. If you're trading a steamer and then trading it's bounce, surely it makes sense to hedge the profit from the steam before swtiching sides. And visa versa of course. Beyond those exceptions I can't see how in/hedge out, in/hedge out and in/out in/out hedge are anymore than a six and two threes.
I'm sorry if you've had to address this 2nd point several times, but I still can't see how displaying an unhedged P/L is helpful, it's meaningless vanity if it's green and unnecessarily scary if it's red. Unrealised and realised P/L are far more useful numbers. Showing the profit from one half of your position (the buys and sells on the selection) without showing the effect of the hedged pair's trade (conceptually geared to the rest of the field but in practice a further trade on the same selection for this type of market) is one way to improve your Christmas bonus but not normal reporting.
I'm not saying I'm right and you're wrong because I still don't actually understand the benefit you obviously see in your way. Neither way actually affects your bottom line, so is it just personal preference ? or the psycology of seing big greens (as yours usually are) prior to your hedge?
There are times when it makes sense to hedge and times when it doesn't, but generally it doesn't make sense. Trading and hedging are independent functions. It's not show I can show a big green, that's got absolutely nothing to do with it.
Thanks but simply repeating 'it doesn't make sense' doesn't do anything to explain why.
I'll have another guess, is it that you're displaying the position as it actually is 'now', rather showing a figure which assumes a subsequent hedge trade will complete sucessfully?
I know. But i would say most people hedge before the off. So if you made 15 ticks profit on one horse and lost 10 ticks on another and still get stuck with an overall loss it makes all the sense in the world. to calculate stakes that give actuall profits of the same size per tick on different prices.. has nothing to do with showing big greens.
Cannot see how you can make any money at all unless there is a lot more than just a tick size in difference between your lay (at lower than the back price) I've done some math and find it needs to be a full 3 pts as in from 8 down to 5, or you are just slowly dying of commision fees and whatever the subscription to your software following the free trial fees are. Why would you not hedge, surely putting two bets as a back and a lay is hedging and depending if you put the lay wanting a larger back size or the back wantng a lower lay size. A £1.00 at 5 lay would need to get a - £6.00 payout on the losing lay for a winning back which means a back at 7s ! If it's not matched in running then you lose!, likely not to be if horse price keeps going down as it gets nearer the win.
You only pay commission on net winning positions, not each trade.