Just a little about myself. My name is Pete Nordsted I am a Betfair accredited trainer and I have been trading on Betfair now for the last 3 years with a modicum of success and am now getting better by the month. I originally started trying to scalp the market building up small profits here and there but then these were generally wiped out by the so called ‘unexpected’ I suffered some terrible losses in football, cricket and golf where prior planning was poor and discipline was non existent. However, I persisted and through studying the markets closely now only employ relatively low risk systems where the potential for gain far outstrips any loss which may incur.
It was about this time I started reading Trading In The Zone and The Disciplined Trader. These books completely changed my attitude and approach to trading both in the sporting and financial markets and I now trade successfully on probability and price alone. I mainly trade snooker, tennis, darts and golf. Apart from golf I know very little of the form of the participants in the other sports.
These books are primarily aimed at the financial markets. However, trading is trading and the general gist is once you enter the market anything can happen and generally does. It is how well you handle this psychologically and emotionally that will ultimately determine your success. Obviously once you’ve mastered this it then suggests you use a mechanical trading plan and never divert from this plan.
Now this sounds a lot easier than it actually is. Everybody’s attitude to loss is different and mastering the mind for many is an uphill struggle. When you hear on the forum of these guys who are turning over £100K a year these people basically have mastered the art of mind control and trade like a machine. They have achieved what 98% of the rest of us can only aspire to.
After contemplating the contents of this book It was then I decided to study market movements in depth. and there is no doubt that blindly backing short priced favourites in sports such Darts, Snooker and Tennis is the quickest way to the poor house. I then discovered that there was a great deal of overreaction and certain situations repeat themselves time and time again. It was now just a case of finding the ideal trading plan.
I have studied market moves intently. My only advice to take advantage of the amazing opportunities presented by these markets is to:
a. Study how the market has reacted to events previously.
b. Never risk more than you are trying to win.
c. Write down and plan your trades thoroughly before you enter the market.
d. Ensure you have the discipline to follow all of the above through.
When you look at a graph on its own it does not look to exciting but when you look at it against all the other matches in the same event patterns begin to repeat themselves. It is these occurrences that happen regularly that give confidence to your plan knowing that over a certain number of matches these occurrences will be repeated time after time.
Add this information to devise a mechanical trading plan, combine it with discipline and money management and your success will be inevitable.
Again I must reiterate that the only way to consistently profit from these markets is to learn how the market reacts to certain situations, and observe how often these situations repeat themselves. These situations repeat themselves time and time again and armed with this information it will ensure you are in a position to take full advantage when similar circumstances occur. I am always surprised when people go on a 1 day trading course and, all of a sudden think that they can become a master trader. The reality is a Doctor doesn’t do a days training and become a medical expert overnight!
If you have the patience to study this data for a year I can almost guarantee you will become extremely successful when trading on these markets.
As an accredited Betfair trainer I am amazed at some of the queries and questions I receive from a day to day basis and indeed some of the characters I have spoken to. This has included someone who was blindly laying horses at 8/1 for £50 in the belief they were going to win £400 if the horse lost to someone who was going out to Las Vegas to play poker professionally.
All these individuals displayed varying degrees of experience and knowledge. Indeed, I have learnt quite a bit from all the people I have communicated with. Everyone unique with differing goals and yet all love and enjoy the challenges set by these markets.
I wish you all good luck with your trading.
It was about this time I started reading Trading In The Zone and The Disciplined Trader. These books completely changed my attitude and approach to trading both in the sporting and financial markets and I now trade successfully on probability and price alone. I mainly trade snooker, tennis, darts and golf. Apart from golf I know very little of the form of the participants in the other sports.
These books are primarily aimed at the financial markets. However, trading is trading and the general gist is once you enter the market anything can happen and generally does. It is how well you handle this psychologically and emotionally that will ultimately determine your success. Obviously once you’ve mastered this it then suggests you use a mechanical trading plan and never divert from this plan.
Now this sounds a lot easier than it actually is. Everybody’s attitude to loss is different and mastering the mind for many is an uphill struggle. When you hear on the forum of these guys who are turning over £100K a year these people basically have mastered the art of mind control and trade like a machine. They have achieved what 98% of the rest of us can only aspire to.
After contemplating the contents of this book It was then I decided to study market movements in depth. and there is no doubt that blindly backing short priced favourites in sports such Darts, Snooker and Tennis is the quickest way to the poor house. I then discovered that there was a great deal of overreaction and certain situations repeat themselves time and time again. It was now just a case of finding the ideal trading plan.
I have studied market moves intently. My only advice to take advantage of the amazing opportunities presented by these markets is to:
a. Study how the market has reacted to events previously.
b. Never risk more than you are trying to win.
c. Write down and plan your trades thoroughly before you enter the market.
d. Ensure you have the discipline to follow all of the above through.
When you look at a graph on its own it does not look to exciting but when you look at it against all the other matches in the same event patterns begin to repeat themselves. It is these occurrences that happen regularly that give confidence to your plan knowing that over a certain number of matches these occurrences will be repeated time after time.
Add this information to devise a mechanical trading plan, combine it with discipline and money management and your success will be inevitable.
Again I must reiterate that the only way to consistently profit from these markets is to learn how the market reacts to certain situations, and observe how often these situations repeat themselves. These situations repeat themselves time and time again and armed with this information it will ensure you are in a position to take full advantage when similar circumstances occur. I am always surprised when people go on a 1 day trading course and, all of a sudden think that they can become a master trader. The reality is a Doctor doesn’t do a days training and become a medical expert overnight!
If you have the patience to study this data for a year I can almost guarantee you will become extremely successful when trading on these markets.
As an accredited Betfair trainer I am amazed at some of the queries and questions I receive from a day to day basis and indeed some of the characters I have spoken to. This has included someone who was blindly laying horses at 8/1 for £50 in the belief they were going to win £400 if the horse lost to someone who was going out to Las Vegas to play poker professionally.
All these individuals displayed varying degrees of experience and knowledge. Indeed, I have learnt quite a bit from all the people I have communicated with. Everyone unique with differing goals and yet all love and enjoy the challenges set by these markets.
I wish you all good luck with your trading.
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