02 Ten common mistakes made by traders 
RacingTraders is a third-party Licensed Software Vendor of Betfair. RacingTraders produce and support their own products. To make use of any of these software applications you must enter into an agreement with the individual vendors - separate from Betfair. Find off-the-shelf applications, historical data, results and more at the Betfair Solutions Directory at http://solutions.betfair.com.
Trading Timescales
Betfair Education / 29 January 2008 / Leave a comment
You must make sure that you match the timescale of your prediction of the price's movement with the amount of time you hold your position....Read more »
Not getting out instantly
Betfair Education / 29 January 2008 / Leave a comment
To avoid losses traders have to be extremely short term....Read more »
Not doing scratch trades
Betfair Education / 29 January 2008 / Leave a comment
The scratch trade is where you lay and back the selection at the same price....Read more »
Letting losing trades ride as bets
Betfair Education / 29 January 2008 / 1 Comments
To be a successful trader you must be taking profits and losses of roughly the same size, but having more profits than losses, the scratch trade taking the place of the losses....Read more »
Reading form and watching racing
Betfair Education / 29 January 2008 / Leave a comment
As a short-term trader the last things you should do are read form and watch racing on television. This is for people who wish to gamble on the outcome of the race....Read more »
Wanting to enjoy the racing
Betfair Education / 29 January 2008 / Leave a comment
Trading is often described as boring and detracting from the enjoyment of racing. This may be the case but horse racing is of no concern to the trader so this comment is meaningless. Horse racing has nothing to do with...Read more »
Over-thinking trades
Betfair Education / 29 January 2008 / Leave a comment
Over-thinking trades has two drawbacks: firstly, cuts down their potential to make money by limiting the number of trades and secondly when the trigger is pulled they have put so much thought and effort into their trade that they fall...Read more »
Not purchasing specialist trading software
Betfair Education / 29 January 2008 / 1 Comments
If you wish to make money purely from trading, then it is worth every penny in subscribing to specialist software such as BetTrader PRO. They say necessity is the mother of invention and that's definitely the case with these products....Read more »
Getting distracted
Betfair Education / 29 January 2008 / Leave a comment
Don't check emails, answer the phone, use instant messenger, other websites or the Betfair forum while the racing is on, this includes the slack period between races when you have 'greened up your position'. That's the time where you can...Read more »
Trading for a profit of a pre-determined size
Betfair Education / 29 January 2008 / Leave a comment
Many people decide how much they want to make out of a trade before they enter it and then set their exit price according to that rather than what it looks like they can reasonably get now. Wanting to make...Read more »
