For someone, something may not seem quite right, but it's worth reading.
I noticed that many people who start their way in sports trading make the same mistakes, and many end their trade because of them. There are a lot of misconceptions about trading on Betfair, and in this article I'll look at some of them. If you are just going to become a profitable trader, then this article, I hope, will help to avoid erroneous ideas about the stock exchange.
And here are some of the most common ones:
- It's easy
Many people start trading after reading the pages describing courses that promise to make them millionaires for a month, or by reading a blog that has screenshots of incredible profits, and there is hardly any information on how it is done. This can create an erroneous view that trading is easy. Once you have found your "boundaries", it can be easy, but if you are just starting out, it is very difficult. If you are only taking the first steps in sports trading, do not expect to be able to quit your job in the near future. Most traders I know have spent at least a year before they could steadily make a profit. It took me two years and a lot of hard work for this. - Trading programs will make you unbeatable
I have the impression that some traders who lose money believe that using software such as Bet Angel will provide them with a profit. These programs are just a tool, not a magic wand. They certainly help in many things, but there are many trades where they are not always necessary. I even saw someone's comment on the Bet Angel forum that this is a scam, since a person bought the program, but still continues to lose money. - At each event you can make money
When you start the trading terminal for the first time, it can be quite exciting. I recognize that when I first started, I sat and traded wherever I could. I participated in many sports events from hockey to fishing, without even knowing about them. Even if you only trade on football, you must remember that not every match is worth trading. You should only look for good opportunities if you want to succeed in the long run. - It is necessary to do X% per day
As soon as many traders get some profit, the common misconception is that it is necessary to make some percentage of the bank every day, for example 1%. This sounds like a good plan in theory, but does not work in practice. What will you do if there are no suitable trading opportunities on this day? Or, if you are in the red, you will begin to trade in questionable points, what to achieve this 1%? It is necessary to trade for the sake of good opportunities, and not for trade for the sake of trade. At least, the profit is better estimated for the month. - It should be fun
Getting money, watching your favorite sports, sounds very attractive, but, ultimately, you may find that you do not look at them the same way you trade. So I set aside the time to watch football matches with friends when I do not trade, and do not try to understand when there were better chances and everything else. Trade can be fun, but this is not always the case. Psychological stress during trading will put pressure on you, and some of the safest and most profitable trading strategies can be very boring.
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