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The 3 Lessons That We Can Learn When Trading on Betfair

The 3 Lessons That We Can Learn When Trading on Betfair

Lessons That We Can Learn When Trading on Betfair

by Benjamin Terry
April 15, 2020
in Main, Trading

Trading in the stock market is easy, per se, but winning actual trades is a different story especially if its involved the swing trading. Take for example the story of Andrew Hall. This guy was considered to be a god when it comes to trading in the stock market.

He is one of the users of automatic trading systems back in the day and although he has achieved massive success while using automatic algorithmic programs, it is still fallible.

The guy who is responsible for one of the biggest British Oil companies, Astenback Master Commodities Fund II Ltd., also lost a lot. He lost exactly 30% of the company’s funds that amounts to a whopping 500 million dollars. Because of the massive loss, he had to close down the company for good. A sad tale indeed.

What Went Wrong?

So, what really happened? Why did Andrew Hall, the man who was successful in the stock market, fall to disgrace?

Well, although he achieved massive success by using automated means, he relied too much on it. Remember, the stock market is not a static market. Prices are volatile and they can change in ways that you can never really predict.

The 3 Lessons That We Can Learn When Trading on BetfairOne of the major pitfalls when using automated programs is that their algorithm is based on the parameters that you’ve set. And in the case of Andrew Hall, he didn’t adapt to the new changes.

He didn’t adapt too well in the changing market. He kept on holding on to what worked for him before, but because the stock market is erratic, he lost more than he could ever hope to recover.

What Can We Learn from This?

Whether you’re trading in the stock market or on Betfair, there are lessons from Andrew Hall’s experience that we can apply whenever we trade from here on out.

1. It Teaches Us to be Humble

No matter how successful you are in trading, there will always come a time where it humbles you. There will be a time where it will have shot you right back to earth when you’re flying so high that you thought you’ve reached heaven.

2. It Teaches Us to be Flexible

It is also important to know that the stock market or Betfair is not a static market. There will always be changes; some minor, but there are also some that are drastic as well.

Andrew Hall blames his losses to algorithmic trading, but in reality, it just showcases how he hasn’t adapted to the new standards.

It is best that you remain flexible and keep yourself updated with the latest trends. It can make or break your success down the line, so be sure that you remain flexible at all times.

3. It Teaches You to Make Decisions

Trading is essentially making decisions to either buy or sell stocks or lay or back your bets. It is really that simple when you think about it. When you make decisions, it has to be based on logic and reason; complete with empirical data and statistics that will help you win.

The 3 Lessons That We Can Learn When Trading on Betfair

Conclusion

When you combine these 3 lessons, you will surely win big and not lose a lot on Betfair. Remember, even if you have success, if you’re not able to adapt, if you’re not humbled, or if you do not make sound decisions, you are always doomed to fail. So be sure to keep these lessons in mind.

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Tags: swing tradingtrading
Benjamin Terry

Benjamin Terry

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