Firedave trading Betfair with Bet Angel

Documenting my experiences with Bet Angel using BetFair. This will be used to record my progress as I take trading on full time.

Bet Angel - The most effective tool for Betfair
Jul 30, 2009

Analysing results

One of the most overlooked areas of trading is gauging progress. For instance, what notes do you take? How do you record when you do something great, or something stupid? How can you take this forward so that you learn from all the time spent in front of races? Is it possible to reduce the number of races you have to sit through by keeping better notes and making sure that every market is helping your progression.

These are just some thoughts you might want to address. If you attend the training provided by Peter or one of the mentors they will help with what sort of things you should record. After the markets are complete your profit and loss is recorded by betfair. Analysing this data can help you calculate your strike rate and from this the maximum number of markets you can experience a loss in a row. Do not underestimate this, it is directly related to my confidence post. If you know that 6 markets in a row will result in a loss you can stay confident that things will turn round. To get this analysis Nigel has written a fantastic spreadsheet - more details of how to use it are at the forum and this is also where you can download it. Forum post You will need to have a login for the forum or sign up for one. This is highly advisable as there are really good tidbits on there for the beginner and pro a like.