Tips in Achieving Profit on Betfair
When you’re trading on the betting exchange floor, what you decide to do will ultimately decide your fate especially to make money trading options. For instance, if you risk a selection set at 11 and your stake is at $10, you could potentially win $100. Granted that the odds are in your favor, you can double that by adding a second lay bet as well.
This is can be done manually, but as you can see, it could be a tedious process. That is because you have to make an initial lay bet and then you have to do some calculations for you to somehow double your winnings.
Initially, people would have to do this through manual means and it can be tedious and time-consuming. Fortunately, there is now a way for you to automate this process and that is by using an online trading platform.
is one of the best programs out there specifically for trading on betting exchanges. It has plenty of options that allow you to set parameters just like the scenario I’ve told you above.
That being said, using my method above, it would be nearly impossible to lose any trades as it is somewhat guaranteed to win! And the good thing is that you can automate everything using BetTrader as well.
Also Put a Stop Loss as Well
Now, in some cases, there might be some lapses in the programming wherein you are bound to fail. Although the program is mostly up to date, there are just some things that are out of the application’s control.
Therefore, you need to hedge your profits against possible losses by creating a measure known as the Stop-Loss. This is just a means to protect your assets whenever the market works not in your favor.
For instance, if you’ve created a trade where you expect things to move up, but the market doesn’t move in that direction, a stop-loss can pretty much cut the losses immediately so that you will not lose as much.
In essence, the stop-loss is a measure wherein the position or the trade is closed automatically should there be a price action or that the ticks are moving against you.
Employing different measures that will allow you to earn a lot of profit on the betting exchange is quite tedious to do manually. Fortunately, new technological advancements have paved the way for a more convenient solution.
And, oh, don’t forget to put a stop-loss as well, especially since there is a chance that the market will not work in your favor.