Those who are going through the educational process of becoming a profitable sports trader will probably have read lots of articles telling you what you SHOULD do and you can find many of those on this very website.
However, is also important to know what you SHOULD NOT do and learning from those who are already successful is always the best way to do things in life.
Here are 4 things that Profitable Betfair Traders DONT Do:
They Do Not Worry About The Short Term
Those who are profitable on Betfair and seeing regular profits will not worry too much about the short term. This might be a days worth of trading, a weekend or even a month. This is because they know that they have an edge and they understand there will be fluctuations. The way these fluctuations happen can be random. You could easily have 10 losing trades in a row at some point due to the randomness of mathematics but a profitable trader will not worry about the short term or even individual losses. He definitely will not thret over SINGLE trades like some novices do.
It can feel bad to have a losing day but the professionals will sleep soundly knowing that it will all come together eventually, whilst the newbie trader will probably end up scrapping his strategy and go looking for another one!
They Do Not Use Only One Strategy
One of the main reasons a professional does not worry about the short term is usually because he does not have one singly strategy to rely on. Every profitable Betfair trader has a PORTFOLIO of strategies to call upon. This might be just a few strategies or as much as 10 or 20 it really depends on your individual preference.
The profitable Betfair trader will also spend his time always looking for new strategies to add to his portfolio as he understands you can never become too reliant on one single method, whilst the unprofitable trader will usually spend his time moving from strategy to strategy hoping to find that ONE single method that will make them rich.
They Do Not Trade Sports 12-24 Hours A Day
There is a common misunderstanding that those who are professional traders on Betfair spend all day glued to their screens trading back and forth. You will be surprised to find that those who are professional probably do not spend as much time trading as those just starting out. If you do over-trade you will risk burning yourself out so it is important to pick your opportunities and only get involved in events that you know you have an edge in.
Most pro football traders I know actually only stick to the main leagues such as Premier League, Bundesliga and La Liga which might only be a few hours per day on weekends. You will certainly not find them up at 1am trading some football match in South America crossing their fingers for a goal!
They Don’t Go On Forums
Whilst there are a few professionals who use forums such as the Bet Angel forum you will generally find that those who are making good money from Betfair trading do not have much time to hang around forums discussing strategies and other things. The simple fact is that once you are long term profitable on Betfair you really do not need to use forums anymore and most will simply just get on with trading and making money. This is why you might notice some forum posters go quiet after a short while, either they have given up or they are now making money and just do not want to broadcast that fact to the world.
I point this out because you get many newbies joining forums trying to get advice only to be given lots of conflicting advice from people on these forums who are probably still trying to learn themselves. You could save yourself a lot of time by just buying a course or going to a day course to learn the basics and some strategies. There was a time when these products were all rubbish but these days this is simply not true.
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