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. The author offers up some plausible ideas and some of his unfinished ideas and research. If you are looking for betfair trading ideas this book is definitely worth a read.
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.
Been trying to trade Betfair for about 12 months without success and if like me you feel that your treading water on Betfair, then this book could be what your looking for.
What I like about this book is doesnt pretend to be something its not, the author doesnt claim to be a professional, just an ordinary guy who understands the trading process (and he does!). I emailed him, as there are some excel spreadsheets he can provide you with and I must say I found Pete a very approachable guy and I have since exchanged one or two emails with him.
I found the book easy to follow and its set out well and the information provided is good and very useful. My thought process has certainly been stimulated to look at the Betfair markets in a different way.
In conclusion; an excellent read and for the cost of a round of drinks its well worth the investment.