The simplest of Betfair trading strategies is the same as when trading on the stock market and Forex, you buy or sell in the direction you expect the market to go. You are betting on the market swing, and if you are right, you can take a few points profit out of the market. Get it wrong, and you lose a few points profit. Figuring out Betfair trading strategies means that you should make a profit over the long term, but how do you do that?
Well the first thing to remember is that you will only be making the odd point profit here and there, so do not expect to make a decent profit when you first start, as your stake should only be £2, this means that your profit or loss will only be pennies. First you must learn to profit over the long term with small stakes, if you can’t do that, then you can’t make money with larger stakes.
One of the easiest Betfair trading strategies is to concentrate on races where the 1st and 2nd favourites are close, and there is a decent enough gap between the 2nd and 3rd favourites. This means that there are 2 strong horses in the market, and price wise, they will balance each other out. So if one starts to move in, the other will move out. Markets like this are easy to trade profits on, and there are usually opportunities every day.
Whatever you do, never let a trade go in-running, and never let it drift out hoping it will come back to you. Set a stop loss, and stick with it.
You can use the normal Betfair screen for trading, but you really need a betting bot, and I use Betangel. You can trade on the free version to begin with to see if you can get the hang of it or not.