I’m still wondering how many people out there struggle to make any money from online betting, trading or playing poker. One of the reasons is GREED! It seems to me that everyone wants to make thousands of £££ per week or even a day. But 99% of them fail… Why?

Because they don’t have a patience to develop any professional skill - be it a poker, betting or trading. They want a lot of money and fast! But the key to success is to build your wealth slowly, by increasing your stakes only when you reach a new level of skills.

The same applies for trading on betting exchanges, like Betfair. I hear you screaming - it can’t be done, you need a huge bank etc. But how many of you actually have spent hundreds of hours in front of PC by watching price movements and placing £2 stakes? How many?

Yeah - probably you tried for a couple of hours, lost few hundred quid and decided it wasn’t for you. But you wouldn’t lost that money in first place if you were trading with smaller stakes! Always start small and only when you feel confident about what you’re doing - increase your stakes gradually.

Trading Bank - I have heard it many times that you have to have at least a bank of £3 k to make significant profits on Betfair. Here’s what I’ll tell you - bull***it!!!

I never trade with more than a 500 EUR - 1000 EUR bank (£300 - £700). There are several reasons why I do this but the most important one - it’s always easier to trade with smaller stakes, especially on UK horse races. Because with smaller stakes:

• You can “lock in” positions much faster
• You can “get out” of position much faster (if something goes wrong)

Here’s a live example of how I made 32.46 EUR in less than 10 minutes:
(please be patient while video loads)

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This entry was posted on Tuesday, July 17th, 2007 at 1:54 pm and is filed under Videos, Betfair Trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.