Currently during in running your bets will be placed with a delay if there are bets in the market to match you or else your bets will be placed immediately with no delay. This will be confusing to people moving over from Betfair. This allows a bot that is currently being run in certain markets during in running Betdaq matches to compare the price you offer versus the prices in Betfair and checks if it can offer a slightly better price than you yet lower than Betfair’s. There may be many bots appearing soon on Betdaq because bets can be immediately placed during in running at certain prices.

There is also currently no keep bets facility on Betdaq for manual players. You have to re submit your bets when the race is turned in-play. But you can perform a Betfair type ‘keep bet’ if you use the API. Interestingly, you can use expiry time as well, so if you use the API you can keep a bet for the first 30 seconds of the race.

Liquidity on in running for most markets isn’t great right now, but Betdaq’s matching delay for non bot clients isn’t helping much. I’ll do my little bit to help shortly. A bot? Of course!

On a final note you can now see the liquidity increasing pre race in the example above. Great news.

Ladies and gents, have a great day and good luck to you, as always.

The image on the left shows the market for the 13.05 at Aintree two hours before the off. As has been predicted by so many, including myself, Betdaq is now becoming a serious alternative to Betfair. A monopoly is never healthy. Now it’s ended. And who would have thought Betfair would have taken the steps to guarantee their monopoly ends?

The Betfair Premium Charge has caused a lot of hysterical comment in the Betfair forum but I published a copy of a defence here from a Betfair employee four weeks ago and I’m philosophical about it. If what Betfair says is true – it needs to do it to keep attracting the losers some feed off – then so be it and the exchange model has failed. If it’s just spin then Betdaq won’t introduce similar when they become, as I do not doubt they will, a second exchange equal to Betfair.

In the meantime if it’s true and Betfair don’t back down then we’ll all benefit from the competition from Betdaq and we’ll be getting a discounted exchange there until Betdaq introduce it as well. Things will pan out. There are too many people in the Betfair forum writing too much but really have nothing to say that’s new now. It’s Betfair’s business. They can do what they want. Whether it’s right or not only time will tell.

Got an account with Betdaq? Why not? Get one now and keep more of your profit! And bet £25 and get £25! Promo code 3MAF08.

It’s a No Brainer!

Despite trading for twenty years in other markets I still fall victim to these problems, especially when I experiment with new setups. But I learned to curb my worst instincts and correct my behaviour before doing real damage to the trading account. In short, I learned how to win after losing.

Marty Scwartz, the famed trader who wrote Pit Bull had a great saying. “You have to pass through neutral before you can go forward from reverse.” Marty always believed that the first thing you must do after losing is go to cash and just stop trading. He was a great believer in pulling yourself away from the screen. Stopping to him meant physical separation from the market. In trading, winners never quit but they frequently stop and pause.

The single most toxic thing you can do after 3 or 4 losers in a row is to keep on trading. At that point your chances of winning are better in Ladbrokes FOBTs than on Betfair. Much better to walk away from the screen, go for a walk, have an espresso, read a book and come back next day rested and relaxed.

Why not just fight through it? Trade until you get your groove back? Because inevitably you turn to impulsive trading and move away from the well thought out, well tested disciplined approach of our trading plan. In pursuit of “getting it back” we quickly abandon our rules. I can get sloppy, then angry, then obsessed and before I know it I’ll drop 10% of my account in one day. Fortunately, it doen’t happen too often these days.

I walk away.

In the meantime if it’s true and Betfair don’t back down then we’ll all benefit from the competition from Betdaq and we’ll be getting a discounted exchange there until Betdaq introduce it as well. Things will pan out. There are too many people in the Betfair forum writing too much but really have nothing to say that’s new now. It’s Betfair’s business. They can do what they want. Whether it’s right or not only time will tell.

When LastMinuteLiving decided to abandon their bloggers I’ll be quite candid here. It pissed me off. It’s funny but the old blog is still there and only the ones that opted for the paid version got deleted. At mine they just removed the formatting and withdrew the ability to post. Go figure.

So here we are again. The old blog featured the daily adventures of Ronbot, my Excel triggered bot used in conjunction with Gary and Mark’s superb Betting Assistant, the MoM Lay of the Day, WUBT – When U Bet Today, Betting Exchange Radio with many great live chats with professional traders and software authors and lots, lots more. Well, you know what? It’s all gonna happen again.

The growth of in the number of applications to use with both Betfair and Betdaq has grown enormously over the last few months while I’ve been away. Some applications are complicated. Some are easy. And we’ll be looking at them all over the coming months. And we’ll be chatting with some of their authors. And if they’re crap or great I’ll be giving my opinion. Whether you agree with me or not is up to you. But one’s thing for sure – we’ll have a great debate.

There is so much to catch up with we’re in for a busy end to the year. The archived radio shows will also be appearing on this page soon in a little player which many of you will remember. The shows together have now been listened to 100,048 times! I said to Lee who maintains this blog for me that if we ever get past the magical 100K mark I’d be back here. So I am. Stay tuned. I’ll post twice a week to ease me back in gently.

Finally, please all you bloggers out there can you update your links to here now and if Lee hasn’t included you in our links just ask and it shall be done. TTFN.