Patience Pays in Erratic Markets: Trade Betfair Like a Pro

Everyone’s in a hurry to make money, it’s just natural human behaviour.

If you’re learning to trade Betfair, your impatience is likely to work against you. It’s a common problem.

It sound’s cliché, but half the battle is with yourself. Just by being patient and disciplined, you’ll be well on your way to success. Ask anyone that’s successful.

Trade Betfair: Erratic Markets

Horse racing markets are often popular to trade. With a high volume of races a year, turnover and regular price movements there’s a lot on offer.

However, it’s a double edged sword. For every chance to make money, there’s one to lose. But by being patient and picking off the peaks and troughs, erratic movements make it quite possible to win.

Erratic price movements often occur within weakly bet markets, particularly when there isn’t many runners.

For example:

An evening race at Wolverhampton with only 4 runners is more likely to be erratic than;

A feature race at Cheltenham with 10 contenders on a Saturday afternoon.

Maintaining a similar approach for the above situations would end up in some rather random looking results. This is where so many go wrong, also it becomes hard to deal with on a psychological level. It’s best to treat them differently.

See this Blog Post about trading fear

By being aware that, these kind of situations are quite different. You’re in a better position to profit.

Treating each market the same often results in a vicious loop of impatience, red screens and then leading onto the dreaded ‘chase’ – particularly amongst beginners.

As the famous investor Warren Buffet once said; the market is a device for transferring money from the impatient to the patient.

Remaining Patient: Success

As mentioned above, the first step to remaining patient in the face of erratic markets is to understand the overall situation. If it’s going to be a volatile one, you need to be ready.

Here are a few pointers to spot potentially volatile markets:

• Activity; Is the market fluid? If you’re looking for a long or short term trade, you need movement or turnover. Inactive markets breed impatience.

• Interest; Is there genuine betting money? A market full of traders, without genuine betting turnover can be tricky to deal with.

• Data; Is there sufficient information about the market? A market with less background history is often more erratic, understandably.

Hopefully this will help when approaching the markets. Once you’ve related it to a few you may start to see opportune points to get involved, as well as avoiding un-necessary losses.

Be smart, be patient.

To see more from Caan view the Blog Here

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If you’ve just started out this may all seem a little over-whelming at first, but it doesn’t need to be. Check out the GeeksToy Community Forum. Many of the users are happy to help others find their way.