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

My brother has come up to stay with me and learn about the wonders of Bet Angel. Since it is the start of Goodwood there should be some good races for him to learn how to scalp and there will always be races to swing. As part of learning he will be writing the bulk of each blog everyday for the next week; here is day 1.

I have watched a few races before today but I am still very green since I know little about the trading techniques required to be successful so I started the day by reading as much as I could about Bet Angel. Then I wrote out a list of all the day's races including grade, no of runners and the two favourites odds so that I could make a judgement on style.

The scalps mostly consisted of the Goodwood races and the 1635 went well. The stability of the market meant that I could go in and out at regular intervals, and get my orders filled. However the 1745 Goodwood seemed to be volatile. This was not shown on tv and was mixed in with evening races that were shown on "at the races" which may have been a reason for this despite its decent grade.

The races at Beverley were much harder. One of the races I had expected to try and read swings but on closer inspection, the two favourites were almost identical and should definately have been scalped. This was my biggest loss of the day, and is approximately the amount I am down for the day.

My aims for tomorrow are to be more aggressive with my scalpable races to try and get a few more turns in and try to be a little more savvy with the swing races by reducing the amount I expect to win and either do nothing or use a different technique.

Day 1 p&l: -£0.75