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Product Description
Product Description
Trading the Betfair sporting markets in-play is rapidly growing in popularity thanks to the increased sporting coverage available on many different satellite and cable channels. Enthusiasm for sport is a must, but there is much more to mastering Betfair. Many people start by just using Betfair to obtain better odds than those available at the traditional bookmakers. They then perhaps do a little more research and learn to trade the markets. But to make a regular profit to win and keep on winning a serious, disciplined approach and careful planning need to be employed. Mastering Betfair takes the reader through many low-risk strategies developed by the author over the past three years, showing how you too can benefit from these approaches to the betting exchanges. It also explains in detail why and how the Betfair user should employ disciplines such as managing risk that are normally associated with trading the financial markets. Indeed, through doing this it is hoped that the book will draw the attention of financial traders to the unique opportunities available on Betfair. This book is essential reading for anyone looking to take their Betfair trading to another level and start making some serious money.
About the Author
Pete Nordsted has been an administrator/statistician in the Royal Air Force since 1985. He was introduced to Betfair whilst on detachment in of all places Afghanistan. Despite the various connection problems he soon realised the opportunities offered by the betting exchanges and has studied the Betfair markets in depth since 2005. He is a also a Betfair accredited trainer and the head of tradeonsports.co.uk a service which analyses the market and back tests various systems and strategies.
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Customer Reviews
Most Helpful Customer Reviews
28 of 28 people found the following review helpful
Format:Paperback
The author states the book is "written for the sports trader who is at the stage where he would like to take his trading to the next level.", and discusses the following topics:
The Learning Process
Having Attainable Goals
Your Trading Bank
Paper and Minimum Stake Trading
Learning from Mistakes
Keeping a Trading Diary
Trading from a Plan
Trading Systems
Learn How the Market Reacts
Back-testing
Make Sure Your Strategy Has Been Historically Profitable
Randomness and High Probability Trades
Mistakes and Warning Signs
Protecting Your Bank
A Money Management Plan
Learning to Accept Losses
Be a Contrarian
Trading in Your Own Time Frame
Balancing Trading and Living
It also lists a few trading strategies from certain sports (football, tennis, cricket, golf).
Experienced sports traders will tell you that most of these topics are very important - it's all good solid advice. However, most of the topic content spans four or five pages (of fairly large print), some for only three. As such, no topic is examined in any great detail. The book is more a list of techniques and skills than a training aid.
For example, the Chapter on Learning from Mistakes lists three examples of losing trades, then notes the lessons learned. The learning process itself is not examined - the need to be completely honest about decision making, the failure to recognise bad habits, the need to analyse thoroughly.
Another example: the author suggests only betting with a £20 note under the keyboard, so one doesn't forget the real value of money. Sorry, but that is not the kind of information which will make anyone a better trader.
It's difficult to know what to expect from this book. The front cover reads "How to make serious money trading betting exchanges", yet there is little in-depth content to take the reader to that holy grail.
Having said that, this will probably become the benchmark text for Exchange trading.
In short: There's nothing in this book which you can't read elsewhere for free and in more detail.
If this were a book for beginners I would give 4 stars.
The Learning Process
Having Attainable Goals
Your Trading Bank
Paper and Minimum Stake Trading
Learning from Mistakes
Keeping a Trading Diary
Trading from a Plan
Trading Systems
Learn How the Market Reacts
Back-testing
Make Sure Your Strategy Has Been Historically Profitable
Randomness and High Probability Trades
Mistakes and Warning Signs
Protecting Your Bank
A Money Management Plan
Learning to Accept Losses
Be a Contrarian
Trading in Your Own Time Frame
Balancing Trading and Living
It also lists a few trading strategies from certain sports (football, tennis, cricket, golf).
Experienced sports traders will tell you that most of these topics are very important - it's all good solid advice. However, most of the topic content spans four or five pages (of fairly large print), some for only three. As such, no topic is examined in any great detail. The book is more a list of techniques and skills than a training aid.
For example, the Chapter on Learning from Mistakes lists three examples of losing trades, then notes the lessons learned. The learning process itself is not examined - the need to be completely honest about decision making, the failure to recognise bad habits, the need to analyse thoroughly.
Another example: the author suggests only betting with a £20 note under the keyboard, so one doesn't forget the real value of money. Sorry, but that is not the kind of information which will make anyone a better trader.
It's difficult to know what to expect from this book. The front cover reads "How to make serious money trading betting exchanges", yet there is little in-depth content to take the reader to that holy grail.
Having said that, this will probably become the benchmark text for Exchange trading.
In short: There's nothing in this book which you can't read elsewhere for free and in more detail.
If this were a book for beginners I would give 4 stars.
11 of 12 people found the following review helpful
Format:Paperback
The introduction states that this book is for the sports trader wishing to take his trading to the next level. I thought the book was more suitable as a beginner's guide to trading. As such, it's full of lots of good solid advice. However, I was expecting something much more advanced.
2 of 2 people found the following review helpful
Format:Paperback
As I have said nothing special.This book maybe ok for a beginner.That it as much as I can say for it.He certainly is not giving you any trade secrets.
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Most Recent Customer Reviews
Not much use.
When I purchased this book I expected more of a book on how to use Betfair to make money, as Betfair's help is pitifully inadequate. Read more
Published 1 month ago by Purple Welshy
One of the better betfair books
Most of he books I read on betfair and/or trading are just a glossary of terms with no real content or ideas. With this book I was refreshingly surprised. Read more
Published 2 months ago by Adrian W Kirk
Good book for those who want to trade sports
I agree with other reviewers that this book gives a good grounding in the betfair markets and trading psychology. It is easy to read and the chapters are short and concise. Read more
Published 11 months ago by James
Made over the price of the book back
Ordered this for the kindle just before Christmas. I've never done any trading before reading this book which explains the ins and outs. Read more
Published 17 months ago by Rich
Betfair Trading
This book gives a good introduction to trading on Betfair and the follow up sources are good. Each chapter takes the reader through different steps and explains well what to do.
Published on 17 Mar 2010 by Mr. Eric Sutherland
Excellent Guide
An excellent guide to improving your skills as a trader on the Betfair markets.
Ideal for someone who knows something about Betfair and trading but wants to trade more... Read more
Ideal for someone who knows something about Betfair and trading but wants to trade more... Read more
Published on 26 Dec 2009 by David Cranfield
Good beginners book
If I was to position this book I would say it is a good beginners book. Yet again it is another author with something else to sell besides the book, not that there is anything... Read more
Published on 6 Dec 2009 by D. J. O'donnell
Don't miss this!
If you have already done some trading on Betfair but have been wondering how you can take it up to the next level then this book is a must for you. Read more
Published on 21 Nov 2009 by P. MORRIS
better than a beginners book
Mastering Betfair?
Should we learn to follow some of the rules given.
These should be learnt wheather trading on Betfair,other betting exchanges or on the financial... Read more
Should we learn to follow some of the rules given.
These should be learnt wheather trading on Betfair,other betting exchanges or on the financial... Read more
Published on 13 Nov 2009 by Dragonpete
Mastering Betfair
I have previously seen some of the authors work before, and i was looking forward to this book getting released, Pete has definatly done his homework. Read more
Published on 11 Nov 2009 by Mr. G. I. Dufley
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