Sports trading for a living on Betfair | What is my motivation?

[@micp327]

Excellent summary of your journey, Peter. I guess the moral of this video is to let it be known that the passion and desire to grow and evolve with the market is a vital part of your motivation and success.

[@betangeltv]

Many thanks!

[@futnostalgia]

Another fantastic authentic genuine video from a real person 0 spin 100% real

[@betangeltv]

Thanks, that's much appreciated.

[@finawatsonart]

Very encouraging, I am increasingly convinced that trading is a career I will find endlessly fascinating as well as meeting my initial objective which was to develop a second income to fall back on if my day job becomes a casualty of the current uncertain times. I am learning a lot from your videos & the decision to go for Bet Angel software was in part because you do still trade & post so many recordings of your own trading.

[@betangeltv]

Thanks Fiona, congratulations on navigating the minefield of starting out on Betfair trading.

[@Garycarlyle]

Variable stakes were the game changer for me. I still lose 60% of the time but on my winning bets, I am about 75% heavier so it works out to a profit over time. I have to thank your forum for that pointer. :)

[@betangeltv]

Good stuff!

[@James-lq1po]

For the newbies amongst us... do you mean higher stakes when you have a high degree of confidence the trade will go for you? Or is it more sophisticated than that? Thanks

[@g871]

A fascinating journey and I've enjoyed following it and look forward to what is to come.I'm sure you'll continue to go from strength to strength 💚

[@betangeltv]

Hope so!

[@AlanVickers1992]

Only just really started out, but been actively achieving some good scalps on these markets £50 pound stakes as I identified it ticking constantly between 2 ticks and just pushed as many off set bets as I could through before the off... very pleased with that, can't complain when something so attractive presents itself. Great video as always 👍

[@betangeltv]

Well done, thanks for your comments.

[@barrygallagher3306]

love this video so much!! inspirational!

[@betangeltv]

Glad you liked it!!

[@decomezdecomez7639]

Well done on getting the family and work balance right👍🏼 . It’s great to have the young ones taking interest in daddy’s work or should I say passion. I guess the morning bike rides or dog walks combined with a healthy diet prepares you for the heavy night lifting. You are working against your body clock! easily affecting your trading negatively . I am sure you have a video lined up for ‘ lifestyle, family and trading’ Thanks for this one , very encouraging.

[@betangeltv]

I've done a few videos on trying to balance things out. Two of my three children now trade, but they still have a lot to learn about finding and keeping edges. Bit too mechanical at the moment.

[@decomezdecomez7639]

congratulations best wishes ! Hopefully my eldest son follows the same path. He is developing a liking for it . I tend to enjoy the journey towards finding the edge , and I can relate to the technicalities of implementing ones ideas. We remain great-full to your 4th heavenly child BET ANGEL. Thanks again.

[@rossp2293]

Great to hear your story Peter, Awesome vid! 👍

[@betangeltv]

Thanks 👍

[@abc-qv1pe]

You're a great role model, well done.

[@betangeltv]

Thank you! 😊

[@hamandvaid]

60 billion pounds! Wow. Great video Peter, thank you. As mentioned before, I love these non-technique videos; we get such a holistic, rounded view of the game within the game. NOW GET SOME SLEEP YOU LUNATIC. :)

[@betangeltv]

Glad you enjoyed it, I'm recharging by batteries now.

[@DBADruid]

"This event i now in play" -BAP

[@betangeltv]

This event is now half asleep

[@stmh9660]

That's some serious dedication!

[@betangeltv]

I want to find the limit of what's possible ultimately, still haven't found it!

[@JonJon-rj6xo]

If I had 10% of your trading nous and obvious intelligence, I'd be rich.You have found a true niche in life, well done.

[@betangeltv]

Many thanks. I don't think you need to be that intelligent to be honest, just not as bad as most of the market will suffice.

[@jalexisg]

Could you make a video with your favourites books and the ones you recommend for helping to trade?

[@betangeltv]

Y, I have this on the list already. It's probably not the list most people would think of.

[@JAFKARNAT]

Brilliant video, thanks.

[@betangeltv]

Glad you enjoyed it

[@DanielB288]

Hi Peter, Great video again! Is it possible to trade both betfair and BETDAQ on the same bet angel license? Say you set up automation on BETDAQ and manually trade betfair, if you trade the same market do the 2 combine? For example you hedge out on betfair, will it affect your BETDAQ? Thanks

[@jonh1958]

Bet Angel also provide software to use on Betdaq. AFAIK it's a free license. Betdaq and Betfair are separate though so I don't think you can do what you are describing with one piece of software.

[@decomezdecomez7639]

Betfair and Betdaq are separate exchanges. Bet angel’s betdaq platform is free and can be very helpful when betfair crashes and your trades are not set to offset using BSP, then you can always run to betdaq and minimise your exposure. I am interested on what peter says and I remain to be corrected. If you combine automation and the two platforms then you will get some glaring trading opportunities. I think you are on to something.

[@betangeltv]

It looks like there have been a couple of replies to this already which cover your question.

[@jonh1958]

If using automation to trade a market. Would you need to turn that off before trading the same market manually?

[@betangeltv]

I use different accounts for automation so it doesn't 'pollute' the result.

[@jonh1958]

@@betangeltv good idea, thanks for the tip

[@placebo64]

Your trading platform is brilliant, and that in itself is a great feat provided you are the pioneer on sports trading. Since you have a financial trading background I have a couple of questions for you. Does institutional trading, like volume profile, VWAP, order flow, total delta, etc, work on any sports market? And, if yes, can this be incorporated in your trading platform?

[@betangeltv]

My team and I appreciate your comments, thank you. Lots of stuff does crossover but other stuff doesn't. Order flow, price action and so on are obvious matches, but each market has to 'hunt' 100% so all prices are correlated. In financial markets, that's generally not the case. Events are time bound as well, so that's a bit like an option, but not exactly. But my time in financial markets has helped me trade these markets well, so I would say if you have knowledge of that, it's useful.

[@placebo64]

@@betangeltv I understand. Thank you for your response.

[@grahambeyer6254]

Hi Peter can you give me a Break Even strategy for me to work on please?

[@betangeltv]

There are tons of those! What sport?

[@liverpix]

Doesn't lack of sleep affect your trading ?

[@betangeltv]

Having worked in the US, I would often have to take long haul flights and go straight into a meeting at the other end. So I seem quite good at staying up for hours on end. So I seem to be able to cope, though I am often wilting a bit by the back end of a session. Not ideal, but I cope.

[@liverpix]

@@betangeltv Thanks.

[@albrooks2702]

Can I ask you Peter is it worth trading now for you on Betfair due to the premium charges you get ?

[@betangeltv]

I've been hit by both major changes to the PC, but yes it's still more than worth it.

[@C4sp3r123]

It is very odd to me that a lack of sleep is still seen as a badge of honour yet it widely is and was an undercurrent in this video. It does significant damage to your health. It is seen now as the new smoking but is as misunderstood as smoking was in the earlier years. Do research about it and read the book Why we sleep. Just because you can work/survive on little sleep really doesn't mean you should. Sleep tight, don't let the bed bugs bite!

[@betangeltv]

I have read the book and look after myself carefully when it comes to sleep. I'm well known for having a good routine for sleep and being able to fall asleep anywhere. My Apple watch now advises me if I'm not on routine. I just realise for these opportunites I don't really have much choice, especially this year when I can't travel. But some years I will find somewhere warmer and more comfortable to attempt this feat. I find I can stay up for ever, maybe because of the amount of long haul travel I've done. But I'll still try and get as much sleep as possible between sessions.

[@C4sp3r123]

@@betangeltv Good to hear you look after that aspect and how you use tech to help. Many don't and you often hear people say things like 'I only need 4 hours sleep', while that may be true in the short term it does a lot of damage in the long term by which time it is too late usually, again like cigarettes. There still seems in wider society to be an attitude that you should get up early, with sayings like, the early bird catches the worm but that totally ignores the type of person you are. For some that is going against their natural body clock which should be listened to. Like you I can stay up forever, no issue, but I am no morning person. People look down their noses at people who get up late as some sort of lazy person while ignoring the fact they often are working later in the day than the early riser so the net outcome is they get just as much done, just at different times of the day but society as a whole seems to think the late riser late to bed is some sort of lazy so and so but actually they are just doing what is best for them. In time I think like smoking we will come to learn much more and be much more accepting about the benefits of sleep. I can't remember where I read it or heard it but a doctor once said the best medicine they can give and would save the NHS untold money as it is a free medicine is....sleep. But people don't want to hear that (yet). It can't be avoided every now and then but prolonged exposure to poor sleep is very damaging. Being able to relocate to a better time zone for such periods is a good option, just a shame Covid-19 has stopped that in 2020 for you.

[@C4sp3r123]

I wonder if 2020 will be the last year you are 'allowed' to trade such long hours. Boris and the gambling review might stop you being able to in 2021 and onwards.

[@betangeltv]

It will be interesting to see how that pans out. I actually learnt during lockdown what life was like without being beholden to a trading desk. It was a pleasant experience.

[@chunkymonkey55555]

I liked a saying Donald Trump came out with the other day (politics aside) "Winning is easy, it is losing that is really hard..."

[@betangeltv]

It's funny, but I often focus on not losing or managing the potential for loss. The profits seem to take care of themselves.

[@chunkymonkey55555]

@@betangeltv I heard a guy on another video say the thing to do is always take care of your liability if you get the opportunity then ride the wave for a profit. Very complicated, i been practising over a year and still not keen going real money :) I must of sounded really wimpy saying that but I have enough money at the moment and feel its better to be instinctive with what i am doing first. :)

[@guywren4801]

Second person pronoun in title.

[@betangeltv]

I had debated whether to address the reader or myself and I ended up somewhere in-between.