The Secret to Making Money on Betfair
Whenever we hear somebody telling some insider secrets, we are often all-ears. We give them attention like Jesus talking to his apostles.
I typically write articles and look at the entire year in retrospect to see what I’ve learned. And to be frank, I actually learned a secret that pretty much no one knows, especially the best investment on Betfair.
And the secret is actually very simple. It is very simple that I am quite surprised that no one really knows about this. Are you ready? The secret is that you have to keep all of your trade losses at the same size to the price on the market.
In other words, should the market not move in your favor, your losses should be the same size. And, you can only do this by making some money stops.
What are Money Stops?
Money stops, especially on Betfair, is akin to that of the limit order in the stock market. Essentially, the idea is that you place a limit and whenever this threshold is reached, you either buy or sell so that your losses are kept to a specific degree.
In other words, no matter what trades you do and no matter what the outcome will be, the money that you will lose is so minute that you never actually have to worry about it.
It is really interesting that a simple tactic can really help you make a lot of money and yet people do not make use of this. Don’t believe me? Ask people who trade on Betfair if they ever know what a money stop is and if they do it themselves.
I promise you, the vast majority of them will tell you that they don’t. One of the probable reasons why they do not make money stops is that they do not know that it even exists.
Many traders want to run immediately without learning how to walk. In other words, they do not learn the fundamentals, but instead, rely on expert advice that fast track you to earn money.
The problem with their strategy is that there is no way to hedge their capital from
possible downturns and losses. And believe me, losing trades is quite common on the exchange.
Money stops allow you to put a value as to how much you’re willing to lose per trade. Even if you make 50 trades per day and you lost, say, 4 of them (provided that you set the stop to $10), you will only lose a maximum of $40 on that day.
That is really small compared to how much money you’re going to earn. So guys and gals, be sure to create a money stop so that you don’t needlessly lose money in the process.
The main reason why we enter a platform like Betfair in the first place is to make profits, right? So be sure to safeguard your hard-earned money from any possible negative conditions by making stops.