Did You Hedge Too Early On Betfair Yesterday? Well Done!

Patience when trading may be a virtue. But do you miss out on profitable trades?

My first call today was about why it is so important to hedge. He is a professional Betfair trader who has been a friend since well before Betfair. We talked about, amongst other things,  patience.

He hit 20 out of 25 winning markets yesterday. He’s a perfectionist who is never satisfied. But today he still complained about how he hedged too early and if he’d been more patient he would have hit 25 winning markets.

Since I only autotrade – I hate having to hedge manually – my job during those conversations is never to offer my personal views but to basically be his therapist, keep his mind focused on the next trade and most importantly never, ever let him think that he should change his ways. While he deserves complete credit for his brilliant fundamental trading selections I take a small measure of pride in knowing that my emphasis on posture and tactics helped guide his ideas to profit so many times over the past few years.

That’s because as someone who is an autotrader who trades price action rather than fundamental selections, I have learned the very hard way that patience in trading is as much a vice as a virtue. After thousands of trades and decades of screen watching on Betfair and other markets I have concluded that there are only two ways to make money in the betting exchange markets.

You can be patient with your entries or you can be patient with your exits – but you can’t be both. A hedge always helps too.

My Betfair autotrade structure is based on the way I used to trade manually. I always let price come to me. Indeed, everything I do revolves around being patient about price entry. The more selective on price I am the better I trade. This is a lesson so burned into my mind by betting exchange experience that I literally never question it. Do I miss out on profitable trades? Absolutely. Does it matter? Not at all. I can miss out on 10 great trades, but as long as I avoid a big loser I am way ahead. Like an insurance company I would rather pass up on underwriting a group of healthy men if I can avoid insuring someone in the group who contracts an incurable disease.

Which brings me to impatience. It’s one of the most overlooked skills in trading. How many times have you been in a trade and something just didn’t seem right? It didn’t move your way or only moved partially and stalled or moved against you then came back to a small profit and just hung there. Nine out of ten times you probably let the idiotic belief in “patience” override your instincts. And maybe, just maybe, you were proven right. Holding that position ultimately proved profitable.

But…

There was one time when you could have gotten out even or at a small loss, or even let the market go inplay with a view to trading out for less of a loss. But instead you held on and BOOM! You lost a chunk of money. That’s right. Many times the market actually punishes rather than rewards patience.

So when I was younger I learnt to wait and let the price come to me and then once it does I would let them go quickly – win, lose or draw with a hedge.

So what does this have to do with my friend? Well, just like my betting exchange trading tactics I have helped him develop an appreciation for letting the price come to him and once it does, to consider booking profits even if there is more meat on the bone. Maybe don’t be too patient?

JuiceStorm TV

Trading The UK, IE, US And AU Betfair Horse Racing Markets 24/7

The Betfair selections we are trading above are UK time. Only filled trades or bets appear on JuiceStorm TV.

Unsure how to get involved? Take a look here.

In 2021 TradeHost traded 7,937 Betfair UK, IE, US & AU horse racing and greyhound markets.

2022 saw TradeHost become even more profitable with 22,698 Betfair markets traded.

2023 less markets were traded – 17,459 – but a with a similar profit to 2022.

All trades and bets were streamed live on JuiceStorm TV which was was watched by 124,209 traders in 2022.

All results for the 48,094 Betfair markets traded are here and the charts are here.

Top 100 Comments on JuiceStorm.com

Racing Traders has over 20,000 registered members and more join every day. Find out why with a free trial.

BetTrader from RacingTraders.co.uk was the 1st application for Betfair & introduced the ladder UI. Invest £99 in yourself with a JuiceStorm EXCLUSIVE crypto only offer for a BetTrader lifetime license and no further payments.

Successful Betfair Traders have the simplest Betfair Trading systems. The difference is their selection process, experience and execution level. Get that difference for yourself with automated trading by TradeHost.

Our AI articles are NOT written by a real person and are provided for entertainment only. They may contain content which is inaccurate but we are hoping our AI bot, Rose, will become better over time. The AI category is the ONLY section of JuiceStorm.com that has zero human input.

2 Comments
  1. Chichelo says

    Hi, what are the different prices on your automated systems?

  2. Man of Mystery says

    Please join the waitlist at https://juicestorm.com/help.

Leave A Reply
Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each JuiceStorm member is allowed two daily comments. Use them wisely.
  • Comments must be limited to the number of words displayed above the comment box.
  • Use branded capitalisation, eg. JuiceStorm, TradeHost, BetTrader, etc or John will get upset.
  • You agree that any comment you make may be used for marketing purposes by JuiceStorm.com.
  • You need more than 20 words? Click here for the largest Telegram community for Betfair Traders.