Stop Gambling And Start Trading

Hello there,
There is a huge difference between gambling and trading and i think everyone knows it well.
Anyone can win 7/10 times in any sport in which he/she has some knowledge.
But the main thing ' Is 7 win profit is more than 3 losses everytime?'
I'm afraid not most of times.So why this happens:
1.Refusal to take all green position most of the times because we think game is over.
2.Refusal to take stop loss point or bail out position(exit point) and let the loss trade run and than wait for miracle.
3.Ego problem like i am not going to be on losing side and starts chasing at short odds.
4.Backing short odds.
I will take first point in detail(refusal of all green position) with example of cricket matches but i thing it applies in every sports trading.

1.One-day:In 3rd ODI which played recently (11th November) between India and Pakistan (although i not traded on that match but my friend saved historic odds from odds.bestbetting.com site)
India batted first and post 294.Pakistan began there chase well but India won in last.

Assume anyone book is 400 green on India and 1000 red on Pakistan when India odds are 1.07 means 1.08 to lay after 4 wickets in 2nd innings.At this point
the sensible thing is to lay India for 1000 at least to make book 320 green on India and 0 or no liability on Pakistan and then wait for 1.04 or less to further lay India to make equal green on any result.But what we do mostly is refuse to lay at these time and think game is over and lay this time is waste of money.
What actually happened is there was good 5th wicket partnership and India odds drifted to 1.3x zone again.At this time one who refuge to lay in 1.0x started worrying even if he knows India still is in driver seat but he has liability on Pakistan.
But other one who layed India at 1.0x means his book is 320 green India and no liability on Pakistan can wait or even think to back 1000 on India at 1.35 and his book become 670 green India and 1000 red Pakistan which gives him much safer position because he has backed India at 1.67 virtually for 1000 which is strong favourite at that time.
2.Take another example:
Australia in every match at 1.5x or above is safe gambling but refuse to lay them in 1.0x after backing at higher odds is surely pure gambling or stupidity(which i also do).
For example recently played 1st Test between Australia and Sri Lanka (traded on this match and other test only at day 1 and odds for this match roughly taken from betfair cricket forum).
Australia batted first and post huge score in 1st innings.There odds from start (1.5x) hardly drifted and after follow on and couple of wickets in Lanka 2nd inning reached to 1.0x zone on 3rd day but Australia odds drifted to 1.4x on 4th day because of weather threat and one good partnership in Sri Lanka 2nd innings.Now again one who refused to lay Australia at 1.0x when his book was good green on Australia found himself in difficult condition.
There are many examples like BFT highlighted in recent post that someone has backed Pakistan at 2.3x for 12k in 5th ODI with South Africa.Pakistan lost that match from 1.01 position and that person didn't layed Pak at 1.0x.
Although once any selection reached in short odds specially in 1.0x zone they hardly beaten in sports but if there is major drift or flip flop then one who had chance of all green position but refuse to take may find himself in difficult situation and may end with no profit or loss.
Take Ray (sports trader) example that how he is making consistent profit but with trading and not by gambling.

Other 3 points are equally important like prepare for loss in any event and try to minimize it by early stop loss or exit.Lastly never back short odds in sports you can earn most of the time but one loss may wipe all earnings.
Happy trading and good luck.
P.S:
I taken 2 matches as example in which team who won reached to 1.0x odds but it doesn't mean we always wait for all green position at these odds.It may be different according to our book and match situation.Like if book is +2k and -1k if team 'A' win and their odds are 1.20 to lay then try to make it atleast +1700 and +500 by laying 1.5k at 1.20 for all green book.

Entertainment Tax......Tuition Fees.....Paid?....Or.....Paying!

Hello and good morning all,
This post i wanted to post long time back after reading a post in Richard Wildman blog 'Bet Trading:100 to 100000' in which he mentioned initial or early trade losses in sports trading as tuition fees.
I added some more in it which i think comes first is 'Entertainment Tax' which most of us pays in start.
Well what it is all about let me explain first how i started sports trading almost 2 years back.One of my close friend trade on cricket matches regularly and although i knew it but never attempted.One day i was at his home watching India v Pakistan ODI live and he was trading on that match.Pakistan was chasing something 240+ score and 7 wickets down and 100 more runs was required at 6/over (from my memory).Injamam was still playing but only tailenders left to bat with him.As i understand cricket since my childhood i was confident that chances of India win is far better than Pakistan.I asked my friend that match is almost over and what you have done so far.He told me that he is nearly +500 on India and +100 on Pakistan and going to back some more on India at 1.22 at that time.Then suddenly he asked me 'do yo want any bet?' and if yes than on which team.I said no but i think India will win comprehensively from here.Than he said will he back some more money on India at 1.2x on my behalf from his account and we will be settled it after match.I thought for a second and than i said o.k put 1k on India for me.India won that match easily and my friend gave me 200 from his pocket just after match and said it is deposited in his account and he will withdraw it from there.
After that day i tried it again with my friend in same manner for 2-3 times and fortunately all ended in profit(nearly 1k).
At this point i was thinking that it is very easy money to earn and gradually started at my own.Before the start of match i become excited and starts trading on every market in cricket after start(session runs/total score etc.)
without plan.At this time i was enjoying it more although slowly money was slipping from my hand.But i was not concerned about it more because the loss was small and i was really enjoying it.My trade results at that time was like profit in three and lost all plus some more in one.
Than come that 'Test Match' which i mentioned before in which i lost huge money by backing draw in short odds only to chase.Weather was the crucial factor in that match but more important was mixing of alcohol,chase,greed so overall that was my fault.
So it is all my story and after that huge setback i quit trading for months and only watched cricket matches and odds movements without trading.Read many articles on trading/gambling on internet and the final conclusion was that 'no one can ever earn in that.'
Next is how i started it again.Watched many matches without trading i realized that where the good opportunity is and in which matches and in those matches what is the time to enter or exit and in short where i was wrong.But even at this time i was not thinking to re enter in it.
One day when i was surfing on net i got link of BFT blog that is http://thebetfairtrader.blogspot.com after reading it and some other blogs which linked there i realized money can be earn in sports trading but only by strict discipline and money management.I started it again by small money and after some time i decided to start my own blog.
This is all my story.Coming to the title of post which is Entertainment Tax......Tuition Fees.....Paid?....Or.....Paying!
I think in start when i was enjoying it with small losses that was 'Entertainment Tax' and the losses after that was 'Tuition Fees' unfortunatly that was big for me.
My main purpose for this post is that nearly all goes through this phase and mostly left it after that and my sincere advise is if you are going through this phase please rethink that is it suits you?If not than quit it for some time and try to only start it again with the sport which you feel comfortable after research and with strict discipline and money management.Don't try to chase money which you lost,try to recover it in part by small wins.It may take months but it is the only way you can get your money back.If you are doing well means tax and fees paid than all the best for future.
Many thanks to BFT again and i highly recommend all to read his great blog.
Good luck and best wishes.

Cricket Trading:Facts

Hello everyone,
Good days because no international cricket around these days means beer,food and normal work.This is the last day of this month in which we seen international cricket all in sub-continent.Home sides (asian teams) Sri Lanka,India and Pakistan lost series to their opponents.Although only Pakistan played test series also.Sri Lanka v England one-day series result was not anticipated by many.
Anyway lets come to cricket trading facts which remained intact in all series are:
One day's>Market mood was to go with Australia,Lanka and Africa with their opponents which was India,England and Pakistan respectively and in those one-day's whenever these favourite teams comes to bat first there was very good free lay and trading opportunities mainly after good start or flying start.Don't know each match detail but from my memory Australia traded at 1.4x or 1.5x after good start (first ten overs) in atleast three matches and in middle of the innings (15 to 35 overs) they drifted to 2.5+
in all or two matches.Fact remains is that whenever short odds team bat first and having good start lay them in 1.3x-1.5x zone and then sit relax because these odds generally not shorten further.This is basic of my 1st innings trade which i called as 'Predict Target Odds' so always wait for these situations.For 2nd innings trade once again there was good free lays and trading opportunities when batting team odds reached to low zone specially in high or low score chase in day/night matches.Basically the biggest fact in cricket trading is that always try to find opportunity to oppose batting team in low odds which is obviously backing bowling team at value and than book profit in parts.Lay/back plan may be different according to situation but try to make them in advance in these situations like if it is only 1st or 2nd wicket is gone than back all on batting team and may consider some top-up for eg. lay in 1.2x then back all plus some more (20%) on 1.4x after initial couple of wickets.

Another big fact is never back batting team in short odds.In this you may earn in 80% but loss in 20% will be so heavy that it may be more than the profit in 80% matches.
Good bye for now.In next post i will take Test Cricket Trading facts.
All the best.

Everyone Wants Time

Hello and sorry for delayed post.Very busy days and no cricket match traded after 7th Odi with P/L of +£13.8 (mainly due to small lay of England in 2nd innings in 1.05 after 2 wickets as per plan).
Actually the problem is Mrs Dip wants time,Little Dip wants time,Job wants time so no time for cricket.
Last month was really hectic as county and international cricket matches almost everyday and i find it really difficult this month to trade cricket match everyday.Tiredness is also a reason.Post on general sports trading tips which i collected from many sites and hope everyone like it,is nearly completed but no time to edit.Also post on my overall P/L since start of blog is pending.I will try to get some time to post them before Twenty20 World Cup which will start from tuesday.

And yes there will be Inplay posts in these matches although very selected.
Till then good bye.