Monday, 4 May 2009

Is this stuff teachable?

I was thinking the other day, is it possible to teach and train someone up to be good at trading on the horse racing markets? And the answer is yes. I think it is possible to teach someone basic signals/indicators that the market shows to allow someone to profit between £100 and £200 a day. This is with some intuition, and not jumping into the market when the indicators don't seem convincing enough. I think to progress further than that you start needing other skills, such as fast responsiveness, quick decision making and a greater intuition at market reading. There are other skills, but I feel that these are the main ones to getting 'really good'. One of the reasons I started the blog is because there is this stage that I feel anyone could reach with learning the basics and applying them on the right horse at the right time, and £100 to £200 is a good tax free wage for working from home!

Currently I don't offer personal mentoring or training, I may do in the future, but Bet Angel do offer two ways for you to learn these basics. The first option, is going on Peter Webb's course, the founder of Bet Angel and a masterful trader on Betfair since it opened in 2000. This is a great way for you to learn everything about working on betting exchanges and how to profit from them. This is the course I went on in 2006 and I can safely say it is definitely worthwhile if you want to become a full-time trader.
The second option is personal mentoring by Dave Raybould, the 1-to-1 tuition is tailored to your needs. I've known Dave for a few months now; he's an accomplished trader, trading full-time when not teaching, and very good at explaining how something works. Occasionally we'll talk online while he's with his clients to get my views on the day's markets and to help them get an understanding of what their doing and why. Dave can give you the tools to enter the £100 to £200 a day category, as it's so important to learn basic principles before entering the market. You can apply for tuition here. Any learning to get better than this requires self skill development!

Just a note, I do not receive anything for these recommendations! It is merely my own personal recommendations. I feel Bet Angel is the best software in its league for its integrity, support, features and reliability, and therefore any training should match the software!


Mark Lawrence said...

Adam. I admire your honest upfront approach and you have been an inspiration since I discovered your blog. I have traded for a while, albeit inconsistently and I have taken your advice and enrolled on to Peter Webbs betting exchange masterclass. I have confidence in myself and just need to undrstand some of the finer points of reading the movement of the markets.

Keep up the excellent work.


Mark Lawrence

Anonymous said...

Hi Adam. Could you tell me what stakes you use? And what stakes would you recommend for someone aiming to make say £10/race?

Many Thanks

Anonymous said...

It's took me 2 years to get to the £100 day mark, and I still don't make that everyday.

Which would you say was the best out of the course or the 1 to 1 mentoring Adam?

Anonymous said...

Hi Adam,

What would you say are the key indicators to achieve the £100 - £200 per day mark

Yantraman said...

...well if you need an apprentice adam I would happily volanteer!!

Great blogging, always an interesting read!

By the way the achievable £100/200 a day target - what minimum bank size would make this achievable?

Anonymous said...

Hi Adam,
Love the Blog .Just a few questions . Do you use multiple monitors to trade or just the one ? If so, what screens do you have on both monitors ?
Also, do you make use of the Betting shows when you trade, or do you just trade according to quality support and resistance points ?
Would be great to get an insight into how you trade these markets so successfully.

Anonymous said...

As someone who paid out for the course 10 months ago (£400) and is still struglling to barely break even (as are 3 guys I met on the course), I have to disagree with what you say. I don't beleive for one minute that 'anyone can make 100-200 quid per day' from this. Like with anything, some people are more naturally suited to trading than others, you are lucky to be one of them, while the majority of people, even if they did have the right attitude and desire (which I do, but most don't), do not have the neccessary skills for this. Look at the trading forums that are up for the 2 major pieces of software, there are threads with 100s of people who have been trying to trade successfully for 2+ years and STILL can't do it, all dreaming of being like you. I'm not saying you are intentionally misleading people, I just think that trading suits you very well, but please think before misleading people into thinking it is easy, because I have wasted SO much time and effort trying to learn trading thinking it was just a matter of working hard enough at it when it wasn't. The fact is that the markets are so competitive these days that only a few gifted (and hard working, yes) people can succeed. I'm sure if you asked Christiano Ronaldo he would say it was relatively simple hitting a free kick into the top corner and he could offer to show you his technique, but that doesn't everyone can just copy him and do it themselves!

Anonymous said...

Hey Adam, yeah, that`s all great and all, but what should I do if I`m way way way far away from the British Isles?
Are there any works on paper(on the web I mean) that would pretty much do the job on giving an at least some idea on what betting exchange is?
Thanks Brother.

Anonymous said...

Great blog but you lose some integrity/credability when you keep advertising for Bet Angel.

Just an observation but if you want this blog to be taken seriously it's something you may want to consider.

But what do i know. Keep up the good work.

kristan26 said...

Hey Adam,

I attended Peter Webb's course last month and can vouch for the fact that it is very useful, putting it into practice has been slightly harder than I thought but I have the course manual so referring back to this and a combination of practice in the evenings and weekends and going through the trading blogs for useful insights I'm positive will start bringing the results I want. When time and funds allow I'll be thinking about having some one to one tuition with Dave whom I also found to be very insightful on the course. If you were to embark on doing this kind of thing yourself to demonstrate how you do what you do I'd be the first in the queue! I guess you'll announce it through your blog? I'm pretty sure demand will be high so put me on the list!
BTW your's and some of the other blogs have been the motivation for me recently to get back onto the subject of trading after knowing the potential for a couple of years but never seeing evidence of real results from real people. Your useful advice and seeing your totals are real inspiration so thanks for that!!

Anonymous said...

Hay Adam, I could use your help a lil` bit if you don`t mind that is.
You have inspired me to dedicate my time and effort to do exchange trading.
I`ve decided to go on the Peter Webb`s course, I suppose You wanna go there prepared, that`s why "Suggested Reading" is a must to read i think. Anything else I should know going on the course?
Another thing, working hours, or "full day" as you say in your posts. Can you explain what is a full day of trading for you?
Thanks Adam.

Dariusz said...

hi Adam.

quick question, how important is ultra fast connection in good trading? i am thinking of moving abroad and I do worry that by being connected to the international server i will have a big disadvantage..?

Anonymous said...

these markets are impossible!!!!!!!!!!!!!!!!!!

Scott Ferguson said...

it's always someone else's fault when people don't learn from their mistakes...

Here's the deal people - if it was that easy, everyone would be doing it, and nobody would need training. The people it will never ever work for are the people who are still attached to gambling. You have to remove all previous betting instincts completely. This is trading, you don't want to know the name of the horse, its previous form or who's on board.

There are several trading programmes out there, Bet Angel is simply the better one and has the training programme to go with it..

To the people who make it as a pro in any sport or trade, it is easy. Most of us aren't blessed with as much raw talent and have to work our tails off to get anywhere that level :(

Anonymous said...

"only a few gifted (and hard working, yes) people can succeed"

I came from the financial spread betting world where I lost money hand over fist. These markets are much easier to spread bet than the financial markets. I'm surprised that people struggle as so much is stacked in your favour.

It's obviously unrealistic to suggest we could all be the next Adam Heathcote but nobody needs that sort of money to be honest do they?

Anonymous said...

"I came from the financial spread betting world.....these markets are much easier "

Funnily enough Peter Webb came from the financial world, and said he found he could predict what was happening on betfair as a consequence. Most people do not have this kind of background, and regardless of comparisons with the financial world, most people cannot make it as traders on betfair, that is a fact. Your argument is like a premiership striker coming to the the second division and rubbishing sunday league strikers for not being able to play in the 2nd division

Adam Heathcote said...

Hi Mark, thanks for the comments. All the best with Peter's course.

Anonymous1, my stakes vary - to make £10 a race, you could use £10 a tick which equates to £500 between odds of 2 and 3.

Hi Anonymous2, if your making £100 a day, I don't think you need to go on the course. The tuition would be better in your case, but I'd email Dave to check what you could get out of him.

Hi Anonymous3, key indicators would include things like, WOM, over-round, graphs and price bands.

Hi Yantraman, you only need about £1000.

Hi Steve, I use just the one monitor. I have two Bet Angels open. I'm not sure what you mean about Betting shows, but I just trade mostly using the figures and past price movement.

Hi Anonymous4, after reading your comment I slide towards agreeing with you - I know that when I'm explaining something to someone I make it seem easier than it is for most people. But then when I think about the basics I'm sure it can be done. I got told about the Turtle experiment on futures trading where a group of total newbies are brought in to be taught how to win - check it out. I guess at the end of the day if you don't try to succeed, you'll never know if you could've made it.

Hi Anonymous6, I advertise Bet Angel because it's what I offered in exchange for a link on the Bet Angel website.

Hi kristan26, :) All the best.

Hi Anonymous7, a full trading day as I like to call it is where I trade upwards of 80-90% of all the races in one afternoon.

Hi Dariusz, you will have a disadvantage trading from a abroad, but only a very small one, it depends on what trading strategies you implement. As long as you can get a responsiveness consistently less than 150ms you should be fine.

Scott, well said!