What I Wish I Knew Before Starting Betfair Trading: The Truth About Success!

[00:00] goals that you want to achieve and things that you would like to view as a success. But how do you get there and what are the key things that you need to understand in

[00:12] Now I've been trading for a very long period of time and there are certain things that I would say to myself if I had to go back to where I started to And if you want to find out what those are then just watch the rest of this video.

[00:35] The first one is the big secret is that there is no big secret. If you are prepared to work hard, you approach it in the right manner Um, and I'll come on to explain that in a second.

[00:52] The other thing as well is that you don't have to have any particular knowledge or qualifications to get to that first base and beyond. particularly suit me to this.

[01:05] Nobody really truly understood what I was trying to do. And, you know, everybody would give you a whole list of reasons as to why it wasn't possible or why you couldn't particularly do it.

[01:18] Everybody's saying, that's not possible. This isn't the way you need to get this to get there and stuff like that. It was the worst advice that I've ever received.

[01:31] And you wouldn't, um, underestimate, uh, if you've got the energy, You know, sure, it's not going to be easy, and there is no particular shortcut.

[01:45] Uh, and this is why I said that, you know, the big secret is there is no big secret. way to accelerate their progress. so that you can get a particular job.

[01:58] But when people attempt to make money such as trading or betting or any They just expect to make money immediately without putting the effort in. So yeah, my first advice to you is that particular starting point.

[02:14] I didn't have any particular reason why I should have succeeded, but I did. to do is to get two bets matched. I was trying to do was actually ARB.

[02:30] And then one morning I woke up, put both those bets on And it was like, Oh, wow, I've got like an unlimited, you know, market,

[02:42] But my core focus in. Now when you look at football, tennis, horse racing, pre off and in play, And the videos that I produce are giving you hints and tips as to where to look

[02:58] in the market in order to anticipate that one of the bets will get matched before If you focus on that, you'll be absolutely fine. They look at historical data, they.

[03:12] Look for some incredible system that will allow them to accurately predict that. Some of them involve just putting two bets in the market. So if you keep your focus on that goal and understand that that is

[03:27] your key fundamental goal, that's the most important thing that you can do. doing that is just to cock about a bit. I would go into the market, I would say, well, what happens if I put two here?

[03:44] What happens if I do that? And every single strategy that I've ever developed is based around that, what But yeah, you know, you can, it's easy to get distracted and look

[03:56] that doesn't predict the future. Just focus on getting those two bits matched, and you'll be able to make rapid progress.

[04:09] to learn to trade is they just try a whole mixture of different strategies. They sort of ask loads of questions about one particular strategy, and then next I'm thinking, hold on, you've just spent one week on that strategy.

[04:26] If you pick up a set of golf clubs, you can't go down the driving range for a little bit, um, and then suddenly start playing in the PGA Tour. And when you're actively trading or trying to develop a strategy, giving it

[04:41] You won't achieve anything, you won't see anything, you won't learn anything. It's really important to understand that you've got to focus on one particular Even if you're not particularly making money, at least you completely understand

[04:58] it, because that will give you the base on which to build to a higher level. learn absolutely nothing. this is the sport that I'm going to do.

[05:11] These are the sort of strategies that I'm going to use. you can move on to other strategies. I know roughly what that market is likely to do, and then I will fit a

[05:28] strategy into that market that I've traded hundreds of thousands of times. just one step at a time. And that's why I suggest you focus on one thing and doing it particularly well.

[05:43] even you go all the way back to trading on financials, was that trading is Too many people make the mistake of being overprotective of their position

[05:58] And therefore they just focus on trying to minimize losses. You need to make the money in order to be able to soak up any losses that you make.

[06:10] You're looking at something that could happen. You're positioning yourself ahead of that in order to profit when it does happen. And even if you get a really good setup, sometimes even that doesn't work out.

[06:26] through a process of anticipation, and a process of taking risk, not avoiding it. have told me is about psychology, not just the psychology of trading,

[06:42] but the psychology of yourself, of the market, of the field of play. could have ever possibly imagined. stats based approach to what I was doing.

[06:58] up until I discovered in detail all of the psychology of trading. higher point that I got to, it was the psychology that taught me how to

[07:10] think, um, and how to appraise what I was looking at within the market. is you're trying to think about what people are thinking about. And I have actually done a great video on this, um, where I've, Uh,

[07:24] discuss this with my daughter and we've done a couple of little things. Once you begin to understand the psychology, not only of yourself, but of the market and the field of play, it really transforms the way you think

[07:38] to do because I could sit down with somebody teach them exactly what they should be doing when they're actively trading and they will not be able to do it and that is because they're just in a different place and I was in a

[07:50] different place all those years ago and I had to unlearn all of my bad habits and get myself into the situation where I had loads of good habits and began to understand exactly what was going on and internally but also within the market.

[08:03] So yeah, never underestimate how psychology can play an influence in everything that you do. term because that will influence how you approach achieving that particular target.

[08:18] So say you'd like to make a hundred thousand pound or something like that. Um, look at it and sort of think, what do I need to do? What you should do is say, this is my target.

[08:32] markets, whatever you want. And then you will actually end up with a much more achievable target. I have done some videos specifically on this, but my general sort of thrust here.

[08:45] So my objective isn't to be some incredible genius that or does anything wild like that. All that I'm trying to do at every single time is just sort of nudge

[09:00] myself ahead at a reasonable risk. soon adds up to a big total. I don't look at what I'm trying to achieve on the next event or

[09:14] I take a much longer term perspective and that means that those individual multiplied by any big amount is going to be a big number and as I've often

[09:29] said little and often soon adds up. that over the long term the market tends to be fairly efficient.

[09:41] Now that efficiency comes from, you get really good guesses and really bad guesses But the wonderful thing about the way that the market works is that even if you bring no skill to it, as long as your staking is correct and

[09:55] you've got control over your risk management, then you will be break even. Technically, you'll be breakeven minus a bit of commission, but all that your objective is, is to just nudge yourself slightly ahead of that.

[10:07] And I know that sort of sounds odd and unusual, but that could be through you're deploying, the market you're deploying it in, or just actually doing it just a little bit better, being faster, more efficient, using better

[10:21] Because if you participate in the market at random, you get random results. little bit of commission. barrier that you need to overcome.

[10:37] So what I tried to do with this video is not do any sort of preparation whatsoever. I just thought What would I say to myself if I had to start all over again? on my journey of the last 20, 25 years?

[10:52] And what I did was just did it off the cuff, basically thought, you somebody if they were sat opposite me? you will often find them resonating through individual videos that I do.

[11:08] But these are the sort of things that I think would be most key and important Things, you know, a base, a foundation to build upon and a philosophy that

[11:20] I could sort of take forward in everything that I attempted to do. So anyhow, I hope that that video has been useful for you.