Peter Webb - Bet Angel - This video will stop you going in-play

Going in-play and dumping a big proportion of your trading bank is a cardinal sin in pre-off horse racing trading.
In this video, I explain in detail why you shouldn't do this. Hopefully, it will put you off for life!
There is also a safety mechanism you can use on Bet Angel to help stop you doing this as well.

[@hernandotorres1234]

Spot on, I recall once losing 80% of my bank by going in play (£900, at the time), something of a disaster. Laughably it taught me nothing and I repeated the error a few months later losing £600 of my partially re-constructed bank. The second lesson worked and I no longer go inplay, as Peter says, DON'T DO IT.

[@colinscott3828]

USE PRACTICE MODE!!! i personally have now realized this, it can be an expensive learning curve just jumping feet first into live markets you dont fully understand. YOU WILL WIN. YOU WILL LOOSE. THIS IS CALLED GAMBLING NOT TRADING. FIND YOUR EDGE USING PRACTICE MODE, THEN "TRADE" thank you Peter for all your hard work and honesty you really have changed my mindset in the past year as it is now all sinking in. This has not been easy btw people but nothing worth having in life is.

[@mrharveyg]

Love it, Love it, Love it! Believe everything said in this video - except dumping the 2nd grand on the next race after the big loss (he was only joking)! Trust him, I've been there, lost the lot, started again and lost it again, a few times all in play. But and there is only one BUT, to make this work do not go in play, the rest is hard work, determination and time, if you can't see that or be bothered to invest the time you wont make it happen. Oh and yes please Peter to the SP video.

[@peteryeates8184]

Great video mate. Taking trades in play has to be the most common way to blow up one's trading capital.

[@betangeltv]

Indeed it is!

[@dxdx252]

Ok peter please do a video like you are saying at min10 in the video, i cant wait to see how all this work out with automation and servant... thanks and respect to you and your passionate videos and work man.

[@Jay28u]

Hi Peter, I will never stop going inplay as that's where I make most of my profits from!!! "Back to Lay" on front runners for example, can be extremely profitable and is a very commonly used strategy these days..... It usually requires taking a pre-race trade inplay! However, taking a pre-race trade inplay to try and recoup a loss, when you have no reason or intend to, is the dangerous and extremely foolish move. Do you agree you are just talking about? actually As for chasing loses.... that's always a big no-no in all situations!!!! All the best Peter, please keep up the good work! Jay.

[@Jay28u]

Sorry Peter, I just realised I have seen & commented on this video previously. My friends fault for highlighting to me again from a different point of view - All the best. Jay.

[@steved7961]

I needed to watch this, thanks.

[@briantaylor9265]

wish i had watched this 12 months ago. I have been out of the game since then cos of doing exactly what peter says you shouldnt do. In play destroyed my bank and my confidence. I WILL be back tho as I have discovered the Take SP button when using practice mode-it works and takes away the temptation and the stress

[@BlackHatTrading]

Hahaha Very true :D I am quite well known for going in play and I have made a lot of money but i have been bitten a couple of times. I Now dont trade in play at all... If it can happen it will happen so. The take SP works well and I use it on all my automation now :D

[@1faustus]

Aaaaagh. I got distracted by your video and went in-play. But it's only football and nobody ever scores in the very first...oh.

[@JayJay-tm9gx]

Hey peter, great video, U told me on Facebook to remind u, did u find that automation to green up as soon as the race starts, to avoid inplay, or alternatively the video to take SP at the off, I’m guessing they’re the same thing, many thanks for ur hard work and advice 👍

[@princessedenandninjathomas73]

Great video maybe you can add this to the interface so people can play it before going in play.

[@sn00pgreen]

i find trading just tires me out, successful or not, i run a nice little place system which i devised and does me proud, far less stress than trading twenty races a day

[@betangeltv]

Do whatever you are happy with if it makes money, that's the most important thing.

[@ShaneByse]

Very well explained with the reasons behind why it is not good for in-play trading .2 very quick questions if I may when you talk about hedging & using s.p. to your advantage do you utilise the betfair bookmaker market for hedging trades ? Also when you say not to trade ,is it just horse-racing you are talking about ?perhaps Football (soccer ) is a different animal when it comes to in-play trading ?

[@betangeltv]

Yes, I do trade racing in-play but it's mainly automated. Others sports such as footy need to be done in-play, in general.

[@piontybird]

Words of wisdom as usual Peter oh wise one, I have like most learned this the hard way. But Peter I have a question for you regarding the working of the Betfair horse racing exchange. Something I have noticed a few times and especially this morning 8th April trading on the 14.05 Exeter. I traded this race slowly from 11.30 until about 12.30 nothing fantastic with turn over and there was never [as usual] a huge amount available, the price on the favourite dropped a few ticks and I took no real notice probably a£500 -£1000 max bet, still all normal. Yet later noticed on the graph a whopping £9000+ all in one go traded bar there wasn't that much in the whole race available, I have noticed this sort of thing a few times in the past. Here's the question, Does Betfair fund its own exchange? The bars on the graphs do seem to have a mind of their own regarding reality from time to time. No real problem just very interested and you being the font of knowledge may know.

[@goatman178]

LOL. . .and there's me thinking about opening a Betfair account trading with a fiver at a time! LOL Anyway, thanks, Pete, great video.

[@marypunnoose7509]

Best ever video I have watched so far. This is nothing but the reality of trading. I have a doubt to clear. Is it possible to automate on bet angel to back a horse at a higher odd only after it is layed at a smaller odd? For example bet angel should only trigger the bet for backing a horse at odds of 10 only after this horse is layed at odds of 2. Pls reply.

[@MichaelWilliams-mo1vv]

Mary Punnoose this is possible on Bet Angel. If you visit the forum you'll see many examples of automation and shared files. What you are describing is the opposite of DOBBING. Check out Peter Webb's video on DOBBING it will give you the idea to create what you're after.

[@elastronaute1198]

How much do you go in play for though? How would you know how much you want to put at sp? Say you have exposure on a certain horse, say you've layed it, then you may put a back bet in at the wrong amount and it ends up that you lose on all the other runners, i just don't know how this is safe when you dont know the price

[@Jay28u]

Taking SP is all good and well but don't do that when there is no in-play market to hedge in, (such as greyhounds) otherwise you'll end up with part of your stake as a bet!

[@betangeltv]

Fair point, you need to know the market is in-play for sure.

[@dantae666]

I do well out of in play lay betting tho. I should be focusing on cutting my losses when the horse is winning tho

[@tomcat226]

I have lost a LOT of money by trying to back and lay in play on races to the tune of a scary amount I would say. Also lost a shit load purely laying horses for them to go on and win. The learning curve for me was a very expensive one sadly

[@georgebuller1914]

Look at it like this: You have LENT money into the markets, to sponsor you whilst you learn (much as a Dentist etc in training at University has to spend oodles of money learning their trade; sorry, profession!). You can and WILL get that money back over time - and that is the key, take your time! I too have 'lost' (LENT) a lot of money to the markets in a similar way to you, but I KNOW I will - assuming I'm spared and live a few more years - get it back in Spades! Good luck! :-)

[@grahambeyer6254]

If Betfair forget to turn the market Inplay, like they have done many times recently, I've lost 2 banks in a week because of this, so how can you mitigate against this?

[@13gibney]

the million dollar question is how much did you lose on that trade? i remember when i used to use a trading room one player lost 60k in one day i would be sick if it was me

[@elastronaute1198]

Peter have you ever hedged a huge amount at SP and distorted the market?

[@wolfiebg]

Of course you will say that. I know why and what stays behind your words. Your profit is coming from my loss and of course you prefer me to close market red and you green. But if the correct odd for a horse is 1,6 and it increase to 1.99 believe me I don't mind to leave a bet on this horse with much value. If I do it with the correct bank management this want be a problem.

[@tradingmaster5953]

Are you just being obtuse or are you simply just ignorant?! Mr Webb said, and has said many time previously, that he is always out of the market well before the race goes in play (except for the example he mentioned) so, how is he going to take your money in-play you moron. If taking money from mug punters like yourself was so easy in-play then you'd be doing it yourself, and so would everyone else. I've seen an odds on favourite collapse out of the gate and pulled up, going to 1000 instantly. So how could anyone know for certain what's going to happen?! If you listen, you idiot, that's the point of the whole bleedin' video! Stop being a mug and a moron, listen to the advice, and learn to trade like a pro, instead of looking for someone to blame for your losses and stupidity. There, I've said what every other pro-trader was thinking :-)

[@georgebuller1914]

10-03: So we can still be bent over - without Vaseline! LOL

[@weerobot]

Been burned few times....ROFL

[@goonercab]

Ok great video as per, but I just can’t get it right scalping - always bounces against me and have had more success dobbing, and just a 20% profit inplay.

[@SDRockman]

I'm about to give up on trading as no matter what I go to do it's never right, but at the same time I know that I can't just quit on it at the same time. I haven't got an endless amount of money so it's a really difficult decision as WHEN to call it quits. I am suspecting that traders must have inside information to do this successfully because there are so FEW traders who can actually make a living PLUS profit by doing this. If I am wrong I can accept that, I just honestly don't know WHAT to think about sports trading any more....

[@betangeltv]

All I do is anticipate what others and going to do. That's all.

[@paspuggie48]

How weird, was in Practice Mode and I went through this very scenario...not doing in-play again !

[@betangeltv]

It can be painful

[@dantae666]

thank god it was practice.

[@grahambeyer6254]

It's a bit like asking a gambling addict to stop gambling, not as easy as it sounds.

[@NordicMeatShield]

I only trade in play :p

[@scooped85]

How is the the SP funded?

[@betangeltv]

It's a combination of backers and layers and the net value between them.

[@dylanredmond616]

Can not believe you never go in play Peter. Surely you of all people could turn a good profit on usual front runners or held up horses?

[@betangeltv]

I have in-running stuff, but it's run separately and mainly automated.

[@eightbo]

he clearly mentions he has automated in-play strategies. the simple fact is if you are using pictures e.g. sky or even SAS satellite feeds that you will be behind the on-course players and as such the majority of the value is taken there is likely still many opportunities to oppose over-reactions or go with a trend when there is stubborn money in the wrong place opposing a trend, i'm sure you'd find a lot more specific patterns if you focused on just one race course + distance

[@LFlowers36-o3p]

I had to rewatch this as I have been naughty today :(

[@betangeltv]

Slapped wrists

[@LFlowers36-o3p]

@@betangeltv 😂

[@georgebuller1914]

Is your 'Botty' sore? LOL

[@georgebuller1914]

I hope you still took the wife and kids a 'Chinese' after you'd finished trading? My partner can tell when I've had a bad day, because I'm more quiet than when things have gone well...... :-)

[@samills70]

sorry Peter, so you made the mistake and then sited that you shouldn't go in play??... but you made a huge mistake which doesn't mean going in play is incorrect. Another reason to go in play is surely to identify the good lay bet prior to the race then enter the market if the expected behaviour is presented (and statistically speaking you will always be laying to back, as this is the mathematically superior method). Further to this, anyone who is scalping a tick with a £1000 does indeed need their head read :)

[@betangeltv]

This is aimed more at people who go inplay accidentally.

[@georgebuller1914]

@@betangeltv Absolutely! I must have Japanese blood in me somewhere, because all to often - (in the past) - BANZAI has been a part of my trading setup! LOL