£0 to £100,000 a Year: How Long to Trade a Living?
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- čas přidán 7. 06. 2024
- How long does it take to successfully day trade for a living? It's a popular question that was recently asked by a viewer. In this video, Caan Berry explains how long it took him to trade for a living, if it can be done faster and how he would do it given the chance again...
Links to references mentioned within:
Amazon Book: amzn.to/2KTxTPC
Advanced Courses: caanberry.com/trading-courses
If you're completely new to the concept of sports trading, see this introduction article that breaks down the basic process: caanberry.com/sports-trading/
Trading for a living isn't as easy as it first looks. Following the advice in this video will certainly help you on your way, although it's important to remember that many don't make it. Day trading on any platform is a difficult skill to master, be it forex, stocks or Betfair.
As Caan explains in this video we would arise checking out the channels video page for further help. In particular, there is a trading psychology tutorial that other users rate highly. A link to this clip is shared in the video's end-screen.
#Trading #DayTrading #Consistency
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Website ‣ caanberry.com
Facebook ‣ / caanberrytrader
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This video explains how long it took me to trade Betfair for a living, and how you could do it faster.
£100k I’d love to get to that one day. To be fair I’d be happy with 25k. At the moment I’ll be happy with £25 lol. I’m going through the video pack course again and going to do some practice trading now racing’s back. One thing I must say is the video pack course is great and well worth the investment 👍
Once you find consistency the numbers just go up and away... wouldn't fret too much about the values, although thats what everyone wants to know :)
Most of us could put together a video showing, how easy it is to go from £10,000 to 0 very quickly.
A scary thought! Although I think i was 7k down before I started to find consistency.
...Especially if trying to hedge for a small loss and you lay at odds of 5.0 instead because you click on the wrong column... and wonder why I lost £10 or more when I could only have lost £2 just by doing nothing.
20k to zero in 2 weeks last year lol play silly games and all that. got to stick with the rules
This is exactly the video I needed to watch right now. Thanks Caan
No drama, thanks for sharing, Sam.
This content in this video is absolutely spot on. Still learning to trade with good days and bad days, but can certainly resonate with everything you said. Thank you
Great to hear! Thanks, we aim to please :)
So God damn happy I came across your videos. Covid has been a blessing in disguise for me as it has given me the time to completely focus and obsess over trading and your video pack. After 2 and half months I finally have an edge! I profited 16 out of 16 races today; can’t believe I finally understand how this all works. Thank you so much again Caan!
No problem. That’s a solid strike rate, don’t expect it to be like that all the time though to avoid unnecessary mistakes.
Consistency is key. Loved this little lesson.
100%
Best video you’ve done, Caan. And I’ve watched a lot of them. Nice one.
Cheers, have you seen the latest upload though? like 10 said that was the best on yet... the four stages.
Caan Berry Pro Trader yeah saw that one as well, keep em coming please 👍
Awesome! Keep up the motivation
Thank you! Will do!
Really imformative vid thankyou Caan
No problem!
Good advice, Caan. I know they are things you've mentioned before but the more I learn the more I realise how true they are. Onwards and upward!
Indeed this is the case. In the early stages I don't think anyone I have met gave some of these things enough credit. It's normal to do that.
Thanks Caan, your vids are always worth watching. Keep up the good work sir:) andy
Glad you like them!
glad i found this video, been a sub for a while and watch alot of ya videos but never knew about the website. looked on there and found the info ive been wanting and can now move forward with it. im no stranger to match betting and finding work rounds restricted accounts but now need to do more, cheers mate
Glad I re watched this. 2 months into matched betting, a lot of trading videos watched and a bit of small stakes trading done I am certain trading is a route I want to go down. Hearing this & the 4 stages of trading from beginner to pro again has given me the push I need to spend time this weekend setting up a proper trading plan and results recording system.
I can relate to Caan's experience more because what he talks is what we have experienced during trading.
Spot on Caan. 'Rush' trading or betting will make you lose and frustrated in the long run. I learnt this while sitting in the cinema watching a movie and constantly having a dabble on bookies. I heard someome whisper whats the point of comming to watch a movie if your going to be stuck on your phone?.
That was the tipping point for me.
Just be patient, be in the right frame of mind and in the right place. Treat trading/betting like work. Your doing it to make money in the long term and need to be disciplined.
Great tips, thanks mate
No problems. It's important stuff! (often overlooked too).
Great video regarding the fundamentals of how to be a successful trader. It all rings true with me and it's probably a video I'll watch again.
Cheers, Matt. Always good to hear something is worth re-watching...
@@CaanBerryProTrader I have notes I read every Monday about trading overall and a checklist I read everyday before trading - my plan, my edges, my stop losses, consistency, dont be greedy etc.
So much of what you say in this video is/was me. Its much more "was" now and hearing it from someone as successful as you helps reinforce my "eureka moment" from 6-8 weeks ago.
This video is now on my weekly recap and I'll be watching it every Monday as well as reading my pages of notes. Its good to recap and reinforce the most important things, outside of entry and exit points. It will really help me keep discipline and stick to what im good at. Thanks
Just bought your book.
Hi Caan. Thanks for the video. Appreciate you putting your time into producing these videos. Can I ask, do you use screen recording software for learning purposes to look back on your days training and spot any trends or ways you could make improvements to your trading? I know some people also use spreadsheets to record some information. Is this something that could be useful as well in your opinion? If none of these are things you would recommend, what methods would you recommend to assess and improve your skills? Cheers, Iain.
Yes, spreadsheets isn't really me. I use a program called camtasia.
Very very wise words
What Caan says makes very good sense to me who has tried, burnt banks, rushed in, listened to strangers, EVERYTHING believe me EVERYTHING that he has said in this video is gospel advice...Thanks for the great content in your videos
No problem, Paul. Hopefully it will help some take the shorter road.
great advice and cool story
Cheers!
Thanks for the reminder about being consistent. How have you found the markets this first week back?
Have changed a little half way, the first couple days were a dream. Overall, pretty decent, more movement by about Wednesday.
Great video, do your courses give us an in site in to how to trade different types of races IE handicaps might be traded differently to other types of races ? Thanks in advance
You have just described me in a nutshell, been trading for 2 months (after watching a lot of videos) and mainly getting things right until the 1 mistake comes along and wipes all the profit (and confidence) out, was thinking this is not for me but after looking at my profit/lose I found the glitch and now seem to be on the right road (although it’s a very small road) keep the videos coming
Eradicating that one error would propel you forward. Not always possible, but important to work on... its where many go wrong.
Try and make a little withdrawal after a few positive steps. Stoped me being overly brave or making that daft bet and taking the hit and that leap back......and it is nice to reward ones efforts and soon enough your bank will increase again and withdrawals slowly become more and more regular.
Good points. It's hard work. Strange thing is that I came here to trade horses, I have knowledge of horse racing, form etc, so far horses are not being consistently profitable. I also started doing football of which I know nothing, but so far my football trades are totally profitable. Not large stakes, but looking back at the records I have to find out how, why, what is providing this result, then the decision on the way forward. But having the records to look back on is a good starting point, also it's only been in process since lockdown started so there is a long way to go yet.
A chance your knowledge or the racing is getting in the way? I have heard of this before. A 'handicapper' of many years was notorioiusly bad at trading in the past because their knowledge kept getting in the way.
Hi. Great vid as always. Is it possible to create a vid of when things go wrong in a trade and how you manage the loss. Thanks 😊
Sure, this has come up many times and I think there may even be a video already, the name escapes me. Have a look about on the channel. The thing with what do when it goes wrong is; just close out. Prevention is the only thing thats truly going to help, you can't cure a bad trade once its happened, just like you can't undo a car accident after. You can only prevent next time.
@Caan Berry Pro Trader Good evening and congratulations on the useful and important information you give to the world. I would like to ask the following question. For people living in countries that do not have a Betfair license, like me living in Greece. Is there a similar way that could build an identical amount? Thank you very much
Thank you for ur answered.
Im on my way too. 👍💪💪💰💰💰
Keep it up
Thanx for expanding the scalping module on the v pack. Diamond stuff. Honestly :) this stuff should be priced higher!
No problem! others have said the same. Thanks.
I like the video and i watched all of the following video
Cheers!
went across to your website. What’s the Audible icon reference to. Cheers . Thanks
Which one?
“Consistency or knock it in the head!!” That is precisely what it takes!
You just gotta. Harsh but true!
Glad to hear as I'm starting with micro stakes of 0.30p to 3 pounds and have doubled account balance in 7 days. I feel that it is no good as its small numbers but as a % of wins I'm winning over 80% of games,using intuitive probability analysis and being willing to change plays in game. If feels right but very hard to tell as I'm learning on the fly!
just dont keep a big balance, trust me
I used to matched bet, but like so many others have said on your channel, once the welcome offers dried up, I found there was very little motivation to continue. I can't remember how I came across your channel or website now, but I've been watching and (trying to) learn. I bought the video pack course thinking it would shed some light onto everything, but alas I was left more confused! I've started going through the beginners course on your website which is helpful - thank you very much (I'll buy the book now too)! I'm a teacher so I'm gonna wait until the Summer Holidays and throw myself into the learning and methodology behind trading then. I'm hoping to find this elusive 'edge' you often talk about haha!
Quick question (apologies if you've answered it in other videos) - does having an interest in sports make learning trading easier? I follow no sports whatsoever and am not particularly interested in doing so. That's why I was enticed by matched betting. I am however very into learning new things, especially when they are heavily strategic and statistically based. Does my lack in interest in sport put me at a disadvantage to someone who does enjoy them?
Cheers for the videos and the content :)
How did you end up doing?
I think the most important thing in trading is mindset, and managing bankroll correctly.
Yes. Bad mindset, itchy trigger finger, it doesn't matter how good your edge or advantage is...
Great video thanks. Just what I needed to focus. I make a few profitable trades then one bad one comes along and wipes it all out plus more
Hi Caan. Great videos
My question is about workin out an edge. If you hve the software loaded on a market say 20mins to the off & decide to do some pre race scalping is there an edge to this or is this more of a skill?
I'd never ask you for more info on an edge but say you want to get into L2B/ B2L where you mght do some race selction work or something like dobbing (i know some people see this as a complete gamble) is that working on an "edge?"
I'm still new & have been learning to pre-race scalp. But I kind of see this as a skill, the ability to read the market & ask myself what is happening & what do I expect to happen...
It woud be good to get some input from a pro like yourself if my train of thought is on track
Hi Peter, scalping 20 mins before the off would-be trading suicide, I wouldn't recommend it. An 'edge' is a distinct advantage, so in the B2L you mention its quite possible yes... for example if you know of behaviour that will exceed the market that relates to an over/under reaction. Having an edge isn't about predicting the future, its about finding value in the current odds and playing the percentages. Hope that's clear.
@@CaanBerryProTrader Thanks Caan. I wasn't clear. I mean that sometimes I might log into a market around 15 mins just to watch it then get involved once the money is in with 5 mins to go.
For me, I can see some edges in football eg team news before the official twitter account announces the starting line up. I'm finding horse racing difficult to figure out an edge but I'm having fun scalping as a beginner. Great advice (& you mention it in your book) if you are not profitable / efficent with £2 stakes.....
cheers
To be honest one of the things I listened to early on that you said and I think of anything you have said ever is 100% on point... However long you think it's going to take its going to take way longer... Took me nearly 3 years to get to a place where I could make a level of money that I expected to do in 6 months. This expectation needs to be there. People have to recalibrate thier thinking... Looks simple but it's not.
I hear you! Agreed 100%
Hi Caan, I have listened to your published story on CZcams. I feel sorry for you in a way because I went through a similar situation in my life. myself Your missus complains about you not spending enough time with her, and the in laws support her. You are doing your best to provide for your family, yet you are being criticised for doing so. I had a similar situation when I was a pesticide tech, working 10 hours a day 6 days a week. I was criticised for doing my best by my in laws for doing the best for my wife and kids. Eventually, my marriage broke up, and I was looked upon as the bad guy. I will never go through that again.
Top video , really gave me a boost hearing this Caan. Im a couple of months into my trading journey which was put on hold somewhat due to no racing lately apart from trading a few of the US markets. Since the return of uk racing i had 2 profitable days followed by 2 losing ones. Totally understood from the start you cant expect to "crack the code" so quickly but man i felt low after new market today. Would love to send you my recordings for critique as i know you have done that for others followers in the video pack. Would be lost without you leading the way. Cheers.
Thanks. Yes, just have to use the time wisely in the early stages. It would be easy to spend a lot of time doing the wrong things and not actually learning much. I think that's a fairly typical trait, maybe the lack of sport over the lockdown period has been a good thing for learning as it makes you focus on understanding instead of clicking about.
Hi mate. I’m thinking of buying your Video pack course. I have a basic idea of what betting trading is but not sure how you actually make a profit & I need to see an example of how you decide to trade on a bet especially horce racing. Does the video pack course show you any examples of this? Thanks
The VP has lots of examples.
Caan Berry Pro Trader what if I haven’t got a betfair account? Can you do your trading on smarkets for example?
One last question, I'm going to buy the book, would you rather I bought it from Amazon or from your website? No difference for you?
Hey Dan, wouldn't matter either way to me mate. Amazon's probably quickest delivery for you :)
Caan.. Do you still record all of your trades to this day? or was that just whilst you took to understanding how to gain your edge?
Not like I used to at all mate. I filled up a few hard drives in the early days. Its a good way to audit yourself. More for learning.
Solid advice as per usual, interesting does trading become addictive in some respects when consistency and profitability is reached? As getting trades right confirms our believes and approaches on that particular market! Best regards Shane
Hey Shane, bang on the money there mate... you have to be careful because if you are winning or losing as a trader, it can become quite addictive yes. There's an argument for more addictive when you're consistenly winning.
Good video. When you say 6 months, a year or whatever, how much time investment does this equate to per week?
A lot. Sorry to be so broad, but I don't honestly know how much time I was putting in a week... I would say well above average for 'part-time' though.
When the odds are right backing both teams too score and also laying against the no - both teams too score so basically both sections are yes for both teams to score is a nice profit with every right match something I picked up on 🧠
Hi Caan, I don't think its possible to become a profitable trader unless you can predict price movements. These movements are too sporadic to predict using graphs/ analysis and as a result trying to trade based on graphs and price movements will only ever cost you money because of the negative buy in liability that betfair uses.
Hi mate. If I wanted to pack my job in and start trading, what sort I bankroll do I need to start with ( minimum)
I'd be careful before you pack anything in. The extra pressure can make it harder to keep yourself straight... you don't need a lot if you know what you are doing. I advise having 6 months living money spare and a few thousand bank though. But like I said, only when youre ready.
Do you need a edge if you bet/trade in-play? Instead of probability, wont it be your ability to read a game (Football). Another good video :)
You always need an edge to win. Reading the game could be considered one edge, but its not all that definable. You need logic. Too many get sucked into the idea you just develop this super-power of predicting the future. Winners often don't... they have a logical reason as to why it cannot fail.
Steve been saying that it's like ATM in his bedroom :P
Really interesting. I am looking for something I can do to start building a second income alongside my full time job as given everything going on at the moment I feel very insecure with only one income stream.
Sounds like you want these two videos:
It's not as lucrative as trading, but more reliable to start, and free.
czcams.com/video/VwD8CyACnYc/video.html
czcams.com/video/GL-fgxMBFFU/video.html
@@CaanBerryProTrader a month in and I am making steady progress with building a bank from the matched betting. Next step is to get one of the betfair trading software that offers practice mode and start building my skill at trading with zero risk. Watching a lot of your videos & learning from them thank you
I prefer to trade football to horse racing as I enjoy watching football more but not making any money at the moment. Should I stick with football or should I have a go at horse racing too, which I know hardly anything about ? Thanks.
Hi Liverpix, knowing something about racing or football doesn't help you with trading and making money. It's a falsehood spread by the media, you need to konw about the markets and what drives activity. Take a step back and think about what you said there too, it doesn't make much sense (although you need to like what you are doing to a degree). Just because you like Football it doesn't mean that's where the opportunity is...
@@CaanBerryProTrader Thanks Caan. How do you learn about the markets then ? Do goals or lack of them drive activity in football ?
@@liverpix Its not the goals so much, but more the human behaviour around the goals. Is the market scared of a goal? Do they expect one? Did the opposite happen thus causing a market over/under-reaction. It's not the goal that matters so much, more the behaviour of the marketplace to that action.
@@CaanBerryProTrader Thanks Caan but not entirely sure what you mean by market here. Do you mean the traders betting in the market ?
I'd watch that 3 hour video you mentioned
Really? death by boredom surely haha.
Tried and tried I lost 1k on betting. Need a consistent income. I am a bread winner. Hate to lose
Hello mate
Like spread betting BF is tax free for income. This makes your job so much bettter than a CFD trader on commodities or forex which has a taxable wrapper.
true.
What do the 3 columns of back bets and 3 columns of lay bets mean? Can you only place a bet at the odds stated in blue or red, but not in white? I am not sure what I am looking at here.
Hi, there is a link here that explains backing and laying: caanberry.com/sports-trading/
Pink is lays, blue is backs, the centre is the price they trade at.
Hi Cloudy Palms.
Congratulations, you have won a prize. Please contact us on the facebook page or support email in the next 48 hours to collect!
Kind Regards
@@CaanBerryProTrader Cool fantastic, I've sent you an email.
Great, the money will be in the account you have supplied shortly.
I have a 90% succes rate which is spoiled by one thing ..how do you stop yourself going in play to chase a loss ??
Inplay is the devil for pre-race traders. You just have to put things in place like alerts and hedge at SP.
Thank you so much for the inspiration. Right now i make line 350 £ a month which alone is huge for me. 😂
Keep to one sport doing multiple will result in doing your bollocks in .narrow down your sport to like national league football or some other league not top flight league learn them .information is powerful
I just trade on the greyhounds .loads of people trying to lay £2 at 4.3 when you put a lay in at 4.2 at £100
Great video Caan, I am a complete beginner and I allocate £20 per week for my trading practice, I trade live with £2 stakes and lose most of the time but it doesn't matter as I consider this a cost for my education in trading. If I blow my £20 account in only 3-4 days, then I wait till the beginning of following week before funding my account again with £20. If I'm in a profit I carry on till I blow my account and I repeat the previous step. In this case it doesn't become a gamble and I know I cannot lose more than a fixed amount of money every month. I am in the very early stages in reading the market but I know it's only a matter of practice and time.
Allocate more time in analysing the market and looking for good trends , instead of busting that 20 every few weeks - You can grow that to a 100 my friend
2000 guineas
What a great race
Fastest in the last 30 years
The magic formula is having an edge + finding value = £££££££££££ its that simple, finding the Edge and value is the hardest bit easy when you know-how.
hi Caan whay You do not betting normal bets
How do you mean? Trading isn't the same bud.
Hi Caan, I trust that you and yours are well?
Bit of a cheek I realise, as I use software created by one of your 'competitors' ;-) , but when you say 'record your results' what exactly do you mean? Physically write down the details; record them on the PC using 'standard' software - or is there software out there that one can feed the info into and it will do all the 'magic' and provide you with stats etc?
Fully understand if you ignore this question or say ball-cocks! Cheers. George.
Nothing wrong with which software you use! I use excel and have a few custom filters set up. You can use other tools though, there was a good one before that was web based but it disapeared last year... you don't need anything fancy, just something to hold yourself accountable and highlight your weak/strong points and where you excel etc.
So if it took you 8 months, people with your video guides and full time dedication should do it much faster. I just started dabbling into trading and one of my mistakes is going against the market. I lay at the historical bottom price or back at all time high, expecting the market to make a correction, but the horse just keeps steaming/drifting in a single direction all day.
One more suggestion which Can also mentioned in his old video. Do not trade to recover your losses . If you do, you'll end up blowing the bank.
Chasing is a slippery slope!
@@CaanBerryProTrader Chasing is one of the worst things that could affect your trading. Others are going in play and placing a blind bet.
3 trifectas good in rollover jjj
I wonder, did you ever think about trading in stocks or forex?
I did look at Forex and the like a bit. Didn't really hit the mark for me... have money invested but only for the long-term.
Hi, I am famously bad at picking horses, if you want to pick a winning horse just ask what horses I pick and pick different ones. With football (soccer) the drawn match often stuffs me up. Can your system make a competent trader out of me? I say unemotional trader, not gambler.
Looking in to the markets this way is very different to a traditional punter, as you'll see. I believe anyone can do it as I self-taught over a few years!
I find it actually pretty hard to find a really bad value horse. Try backing the worst favorites you can find and you'll probably make a profit. Finding horses worth laying is harder than backing.
an appointment with denise? lol
I appreciate the advice and much of it makes sense but why are you giving this advice when you are making money trading? Making these videos must also be time-consuming and the advice you give would likely be detrimental to your own income. ...Sorry, this is my cynical side coming out..
This one cost me about 12 minutes, I didn't edit it or anything. Racing is on for 4 hours a day give or take depending on the time if year... No problem on the cynscism, I'm the same. You a competitor? 🤣
@@CaanBerryProTrader I have a go and in all honesty, I have shown a small but consistent loss, whatever sport I've tried I've had trouble finding a consistent "edge", there seems to be an astounding amount of people out there that are better informed than me and I don't consider myself stupid but hey-ho I'll keep trying..I have seen a couple of your videos and find them interesting, they confirm my views on odds, probability and the sensible aim of trying to make a profit in the long term, I will look at some more of them...thanks..ps I looked at your advice on greyhound racing where you proposed using the strategy of picking up the exchange odds fluctuations and backing outliers on sportsbook but they picked up the changes very quickly, too quickly to get a bet on, so that one's gone out of the window.. :-)