19th February 2007, 11:21 PM
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Member
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Join Date: Jan 1970
Posts: 4,426
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Mark,
I'm a trader, but I'm not a trader - if you follow.
Betfair is essentially a "trading" platform these days with manual and betting bots trading tiny fluctuations in the market. That approach is not my cup of tea.
Within this barrage of money either way, people have lost sight of the "true" odds of a horse, whatever it might be. The true odds do not matter to the trader, but to me there is vast opportunity to profit.
These bots etc bring some prices to an unrealistic level and then the punters cause a marked fluctuation in or out.
I'm more a bookie trader, but identifying opportunites which are market driven at the same time.
Essentially I am still very much in newbie mode, but gaining information and experience all the time.
I have no set trader alert other than the matched initial bet makes me look at the chart of money or prices.
I do have a certain limit on lays though, a fluctuation out to $4.00 is my limit of exposure, anything more is too much risk for me, although I'm probably costing myself profit in the longrun.
The three gorilla's I made from following that procedure, I didn't follow it on Saturday and copped a hiding.
On post mortem, all the favourites (or most of them that won) should have been back bets and I should only have layed the drifters to $4.00.
It's all information to work with in the future and I'm still way ahead for the year.
There are prices being offered on a regular basis on Betfair that regular traders just couldn't make a longterm profit unless they are trading the fluctuations.
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