When trading on Betfair or Matchbook, success goes to those who seek to win, but more to those who learn how not to lose. Like Warren Buffett. The difference in approach is illustrated by what I call the two models of trading. The insurance…
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The best trading decisions in the world are only one step away from failure. One moment of indecision, or wishful thinking, can negate even the best strategy.
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Traders often ride their losses and end up gambling due to their inability to accept quickly that they were wrong
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Stay focused. Remember, putting in a counter-trade two ticks higher than you just laid could be just gambling, not trading.
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Betting exchange markets are efficient in terms of the market %. So momentum traders crashing a price on horse A will naturally create other horses to drift and thus cause other opportunities as the market settles to near 100%. Small…
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Target on Betfair? Many traders average down in their positions as they try to rescue a losing position.