I gamble daily but I call it trading

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Danny

Danny

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I figured I may as well kick this section off as I am a gambler :D

Well if you wanna get technical I am a trader I use betfair to trade odds movements on sports and using software to help visualise the markets I make a little every day :D

So for example I back a horse at 3.0 and then as the race gets nearer the post time (start time) if that horse is the favourite the odds will (normally) come in and I would look at laying that horse off at say 2.0 and between 2.0 and 3.0 is where my guaranteed profit is :D

I have created a number of bots to do this for me and help but none are as good as me... well I am still getting my head round it all but I have had quite a few holidays out of it and have not blown my starting bank yet :D
 
It's called arbitrage, Dan. Can do it on Forex as well. Especially with bitcoin. Trade 500 is okay.
 
cash ins on footy are funny......
 

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I have a bot running on the dog markets today trading pennies while I refine it :)
I gamble daily but I call it trading


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I use the same principles that stock markets use when looking at graphs and charts and most of the time I dont really care what the sport is I am just looking for trends and signals.

The screen is a basic set up as I dont have time to manually do much today so that will just be pottering away in the background while I work :D
 
Any progress on the books section Danny? Been reading a good one about steak knife. The ira fella
 
I'd run it. You wouldn't have to do anything. You could even join amazon's affiliate program and earn a some dingo dollars with the links.
 
Danny said:
I figured I may as well kick this section off as I am a gambler :D

Well if you wanna get technical I am a trader I use betfair to trade odds movements on sports and using software to help visualise the markets I make a little every day :D

So for example I back a horse at 3.0 and then as the race gets nearer the post time (start time) if that horse is the favourite the odds will (normally) come in and I would look at laying that horse off at say 2.0 and between 2.0 and 3.0 is where my guaranteed profit is :D

I have created a number of bots to do this for me and help but none are as good as me... well I am still getting my head round it all but I have had quite a few holidays out of it and have not blown my starting bank yet :D
Click to expand...
You need to elaborate...
 
CeeVee said:
You need to elaborate...
Click to expand...

right...

Before a horse race you have people backing a horse to win and laying the horse to lose... the more people that back a horse to win will force the price to drop ie go from 3-1 down to 2-1 but as a horse is being backed in the market is a complete circle which means other horses prices need to drift out... ie go from 4-1 to 6-1 to 7-1 etc etc etc this all happens before the horse are even on the track...

Now you need to get on one of these trends and and if the price is being back in you need to back it at a high price say for example 4.0 (i work in decimal odds) then as more and more people fancy the favourite the price drops and its now trading at 3.0 so at this point you put a lay trade in and then the difference in odds is your profit.

There is a lot to it and i have been doing it for nearly a year now and I am still getting my head around it but I am spending more time creating bots to trade for me or at least assist me rather than manually trading... I should really do it the other way round but thats a different story :D

Its like the football strategy of laying the draw....

You lay the draw before it goes in play for say 6.0 when a goal gets scored the odds will drift out and reflect that a draw is less likely now so you then back the draw back at say 8.0 and your profit is the money between those two prices :D

I set up a bot to trade the euros and I made a lot of money enough to pay for my italy trip last year :D You get losses and sometimes I intervene and that screws them up but I dont care I enjoy it and one day I am sure it will replace my income but for now I am happy just messing about and getting beer money :D
 
Danny said:
right...

Before a horse race you have people backing a horse to win and laying the horse to lose... the more people that back a horse to win will force the price to drop ie go from 3-1 down to 2-1 but as a horse is being backed in the market is a complete circle which means other horses prices need to drift out... ie go from 4-1 to 6-1 to 7-1 etc etc etc this all happens before the horse are even on the track...

Now you need to get on one of these trends and and if the price is being back in you need to back it at a high price say for example 4.0 (i work in decimal odds) then as more and more people fancy the favourite the price drops and its now trading at 3.0 so at this point you put a lay trade in and then the difference in odds is your profit.

There is a lot to it and i have been doing it for nearly a year now and I am still getting my head around it but I am spending more time creating bots to trade for me or at least assist me rather than manually trading... I should really do it the other way round but thats a different story :D

Its like the football strategy of laying the draw....

You lay the draw before it goes in play for say 6.0 when a goal gets scored the odds will drift out and reflect that a draw is less likely now so you then back the draw back at say 8.0 and your profit is the money between those two prices :D

I set up a bot to trade the euros and I made a lot of money enough to pay for my italy trip last year :D You get losses and sometimes I intervene and that screws them up but I dont care I enjoy it and one day I am sure it will replace my income but for now I am happy just messing about and getting beer money :D
Click to expand...



That is as clear as mud lol
 
Danny said:
right...

Before a horse race you have people backing a horse to win and laying the horse to lose... the more people that back a horse to win will force the price to drop ie go from 3-1 down to 2-1 but as a horse is being backed in the market is a complete circle which means other horses prices need to drift out... ie go from 4-1 to 6-1 to 7-1 etc etc etc this all happens before the horse are even on the track...

Now you need to get on one of these trends and and if the price is being back in you need to back it at a high price say for example 4.0 (i work in decimal odds) then as more and more people fancy the favourite the price drops and its now trading at 3.0 so at this point you put a lay trade in and then the difference in odds is your profit.

There is a lot to it and i have been doing it for nearly a year now and I am still getting my head around it but I am spending more time creating bots to trade for me or at least assist me rather than manually trading... I should really do it the other way round but thats a different story :D

Its like the football strategy of laying the draw....

You lay the draw before it goes in play for say 6.0 when a goal gets scored the odds will drift out and reflect that a draw is less likely now so you then back the draw back at say 8.0 and your profit is the money between those two prices :D

I set up a bot to trade the euros and I made a lot of money enough to pay for my italy trip last year :D You get losses and sometimes I intervene and that screws them up but I dont care I enjoy it and one day I am sure it will replace my income but for now I am happy just messing about and getting beer money :D
Click to expand...
Is that like the futures market in trading sounds very similar
 
stiltwalker said:
Is that like the futures market in trading sounds very similar
Click to expand...

Yes I think so... The same principles are used and the strategies are very much the same its just that the horse markets move quicker... So you are only really trading a horse race 10 mins before the off :D

Scalping and swing trading is the most common strategies

I was trading the dogs a bit today while watching some tv made a few quid... as I get use to what I am doing I will increase stakes and what not... I know people clearing £1K a day so no that it is well and truly possible to make it work and it is not against Betfair terms so you have no chance in getting your accounts closed :D
 
Danny said:
Yes I think so... The same principles are used and the strategies are very much the same its just that the horse markets move quicker... So you are only really trading a horse race 10 mins before the off :D

Scalping and swing trading is the most common strategies

I was trading the dogs a bit today while watching some tv made a few quid... as I get use to what I am doing I will increase stakes and what not... I know people clearing £1K a day so no that it is well and truly possible to make it work and it is not against Betfair terms so you have no chance in getting your accounts closed :D
Click to expand...


It all sound very interesting, I'll shall have a look into this, if flynny gives me 5mins peace lol
 
Danny said:
Yes I think so... The same principles are used and the strategies are very much the same its just that the horse markets move quicker... So you are only really trading a horse race 10 mins before the off :D

Scalping and swing trading is the most common strategies

I was trading the dogs a bit today while watching some tv made a few quid... as I get use to what I am doing I will increase stakes and what not... I know people clearing £1K a day so no that it is well and truly possible to make it work and it is not against Betfair terms so you have no chance in getting your accounts closed :D
Click to expand...
so do you use the same signals as in shares on a graph like flags and pennants with your bot?
 
stiltwalker said:
so do you use the same signals as in shares on a graph like flags and pennants with your bot?
Click to expand...
There are signals of sorts... but don't know if they ae the same. .. I have not dabbled on proper stock markets... I did OK with etoro but that's about it.



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