Bet Angel Free edition is obviously FREE!!!
You can use the interface to watch the market in 1 second intervals which is much better than the online Betfair screen, this alone makes it worth installing. However the interface in mainly designed for basic trading, and whether you make money from backing horses or not, trading is something you need to try as some people find it easy. Below are a few basic pointers on how to use Bet Angel Free to make a profit.
Plenty of advice is on the web on how to trade, the best place for videos is BetTrader Evolution.
Basically you back a horse at say 5.0 @ £2 predicting that the price will move in, and if it moves to 4.8 you can then either Lay the horse for £2 and profit on that horse if it wins and lose nothing if one of the others win, or do what we call ‘greening up’, where the winnings are spread over all the horses, so no matter what wins you profit.
With £2 stakes we are only talking about profiting a few pence per trade, but you can trade a few times pre-race.
Beginners Golden Rules of Profiting from Trading
* When starting off always enter the market with a WIN bet, as this give you more of your betting bank to trade with. You can use 100% of the betting bank, but this is not advisable when learning.
* Only start trading with stakes of £2 until you have proved you can profit. Once you have proved you can make consistent trading profits, then you can increase stakes up to a maximum of 100% of your bank.
* NEVER, and I MEAN NEVER. Let a trade go in-running. I have seen so many people do this and lose 100% of the betting bank!! Yes, I have even done this myself in the early days and it hurts mentally as well as financially. Imagine this, you have 100% of your betting bank on a horse, but the race goes in-running before you have traded out, and after a furlong your horse is still standing in the stalls, you’ve just lost your entire betting bank!!! Same outcome if the horse falls, etc, it is NOT worth the risk.
* Always get out the market 30 seconds before the race, whether you are in profit or not (see above why).
* Always use the Green Up button on Bet Angel to spread your profits/losses.
* You may have to sit and watch the markets and not enter a trade, this is normal, a good thing, and shows you are patient and just waiting for the right moment to enter the market. If this is what you find yourself doing you are more likely to profit long term.
* Stick only to trading the first and second favourites.
* Use the Betfair graph of prices traded to give you an idea which direction the market is going. A graph that shows mostly the same direction is usually a good market to trade in. If the graph is running pretty flat, you will be guessing which way it will go until you have more experience so just ignore that horse for trading purposes.
* Watch a fancied horse that starts drifting as it usually means other horses will move in. Also any fancied horses playing up before the race can see its price move out.
* Stop Loss is when you exit the market for a loss, which you will do, never let the price move against you more than 3 ticks when starting off.
* Patience, patience, patience. Those 3 words will see you make a success out of trading.
* Trading on Betfair is simple to do, but I do recommend using a new Betfair account, this ensures you are not mixing betting banks and the loss of one will not bugger up all of your betting.
Follow these rules and you have a good chance of becoming a professional trader on Betfair. The good thing with trading is that you only risk a small % of your total stake.
Bet Angel Pro allows you to use the training mode so that wins/losses do not involve real money. It is worth the price just for this function.