I have a friend that is introducing me to the delights of trading tennis. Thanks Arno. I had a go yesterday on Betfair with the tennis with mixed results. I should have used the learning mode really in BetIE but decided to try it out with BetAngel and just use small trade amounts.

The first one I had a go with I traded very conservatively and took a small profit when it presented itself. If I had waited a little longer I could have had more. But easy does it when learning eh !! Then I tried the Tipsarevic match and we didn’t get that right and I traded out for a 6 euro loss. Could be a good idea to use a stop loss on some of these games.

On the subject of using a stop loss I am not sure I like them because you are saying yes give me a loss if you have it set up wrong. There are times when the odds go the opposite direction to what you would like and trigger the stop loss the head back in the right direction later to where you could have made some money. A good use of a stop loss would be where you already have some profit in the ladder interface of your betting software and set a stop loss so that if it does go south you catch it before if goes into minus numbers. You can set a stop loss in BetIE, BetAngel and also in BinarySoft.

Back to the tennis – Later I trade on the Nadal game. he was favourite to win but the odds were definitely value at 1.37 and got better when he lost the first set. I traded during that first set and made back part of my loss from the previous match. I could have had some trust on Nadal to fight he way to a win but I left it and did some other things until the footy came available in the evening. But when players like Federer get beat as he did on Monday, then it shows that anything can happen with tennis, besides with this first time trading tennis discretion and safety is the order of the day.

Champions League Football

I was watching the Manchester United game on the TV and I traded on it to make back some more of the tennis loss and I also had a small trade on the Arsenal game. I ended the day slightly down, but that’s the way it goes sometimes. On the Arsenal game I traded out early because it was about 15 -20 minutes into the game when I got in and the odds seemed slow to move for most of the time I was looking. I wanted to sit and watch the Man United game also so getting out with a small profit was the thing to do.

Soccer Mystic is great software for trading the football, I love it when I can see what is likely to happen with the odds in the price predictor. Sometimes you have to give it a minute or two to get the information resolved to be able to present the graph of how it expects the prices to move but it doesn’t usually take too long. I am still not keen on all of the windows you have to work with but then I am running the software within a virtual machine on my Mac and perhaps if you have more screen space it is not so bad.

Horse Racing

I have just spent 10 minutes setting up the bets in BetIE with the tips from RacingPlace using the 80/20 method of staking. I will check it late this evening after the races are finished at Wolverhampton and post up the verdict tomorrow.