I have an automated trading strategy on Betfair. I used to trade on Betfair every day but I found it incredibly dull. Once I figured out a set of profitable tactics combined with a simple strategy that was profitable I had achieved my goal. I then had to consider do I really want to switch from one market screen to another market screen every day?
Hmm… hold on a minute John. Are you full of crap?
Here’s the thing. Like everyone I have my good and not so good days. Today my CLA (Crap Level Alert) monitor is nowhere near a level for concern. So, if you have a moment, please read on.
On balance I felt I could use my time better elsewhere. It would be less profitable but when you get to a certain stage in life and many of your friends and acquaintances are dropping like flies it really does make a life work balance important. For me, today, and for the last 10 years, life always comes first.
Many regular readers know that I have business interests in other markets. Even there though 90% of the heavy lifting is automated with traders that are far more talented than me managing outcomes occasionally.
I take my hat off to the likes of Tony Hargraves, Peter Webb and Caan Berry who have traded manually for far longer than me on Betfair. And they continue to do so to this day. They are the people to aspire to. To emulate. Betfair traders that are profitable day in day out, month on month, year on year.
There are many Betfair automated trading solutions available. I have used Bet Bot Pro and Betting Assistant with RonBot via Excel triggers extensively. Even Peter Webb nowadays runs automated trading strategies to compliment his manual trading using his great BetAngel trading platform. It makes a lot of sense when you think about it.
My preferred automation trading solution today is from Rade Jameirez, the founder of BFBotManager. I use Version 3 and have done so for over a year. I love it. But if you fancy something a little simpler then Mark Baker’s BetExtrader may be the way to go.
Regular readers know that I consider tactics to be much more important than strategy when it comes to making money trading the Betfair market. BFBotManager allows millions of permutations of different tactics and strategies which if you were to give a little consideration to AFTER you have traded manually for some time it may allow you to build an automated profitable bot for certain market conditions.
Building a Betfair bot for all horse racing markets with all market dynamics built in is still very much a work in progress. And has been for over 10 years. Will I ever get there? I hope so. It’s fun to try. Just always make sure that the first rule you write is to hedge all positions BEFORE the market goes in play. Take the loss if you have to. Suck it up. And move on. Unless you have a clear inplay exit strategy with a sufficiently wide stop loss. Automated, of course. 🙂
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