So you want to be an EXCHANGE TRADER!
Exchange trading sounds easy but it's not! Here's what you need to know if you are just starting out.
If you want to be an Exchange Trader and make money then you need to know what you are doing.
There are a multitude of Trading Strategies out there. There are people selling software. There are people selling tipping services.
Cut through the noise with this article which tries to explain “What are the MAIN Trading Strategies?” and “Which one is best for you?”
Below is a table which show the main strategies used by traders. It tells you if the strategy is suitable for beginners or is for those with experience. It also tells you if you need software to execute or not. Behind each strategy is a link to a more in-depth video from our YouTube channel.
|Trading Strategy||B or A||Software required||Plan B|
|Back to Lay||Begin||Not essential. Back to Lay Staking Calculator will help.||Cash out asap if horse not running to plan|
|Breakout||Begin||Not essential. Weighting Calculator is useful as is Weight of Money Calculator.||Be prepared to take a small lose if market direction changes|
|Swing Trading||Begin||Not essential. Weighting Calculator is useful as is Weight of Money Calculator.||Choose a horse who you fancy will shorten in running eg BtL|
|Scalping||Advanced||Preferred for speed of trading. For smaller stakes not essential.||Be ready to close out loosing trading positions early.|
|False Favourites||Advanced||Not essential. This is, in essence, laying to back. It is a more risky strategy.||Don’t get caught with a large position when race goes in play.|
|Trading Photo Finishes||Advanced||Yes for speed. Not as easy as it sounds and needs experience to execute.||There generally isn’t a Plan B.|
|Follow the Money||Advanced||Yes for speed of trading. Be watchful for the bounce.||Choose a horse you fancy and believe will trade lower in play.|
|Contrary trading||Advanced||Yes for speed. Need experience to be able to feel the “Floor” in the market.||Going against the market is very risky and should be done carefully|
We have also made a video which gives a more detailed overview of which strategies are going to be right for you.
Then when you have chosen which strategy you want to employ go to our YouTube channel to help you execute profitably.
Insidetraxs also provides free tools like our Back to Lay Staking Calculator – go to the homepage to download.
On the homepage you will also find an easy to follow introduction to Betfair (the largest and best Exchange Betting site).