Words Of Advice For New Sports Arbitrage Traders

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					How To Become A Successful Sports Arbitrage Trader




                         Words Of Advice For New Sports Arbitrage Traders




INTRODUCTION
Okay, so let’s say you’ve chosen your                      discover plenty of your own, but… you’re
sports arbitrage software, you’ve opened                   not an expert, yet. So with that in mind,
your new bank accounts, credit cards,                      below, I’ll provide a few pointers for
and online wallets, you’ve positioned                      arbitrage betting rookies …
your spare cash to fund your new
project, and you’re ready to start
trading.
                                                           Start Small
Now what?
                                                           I’ve emphasized this a few times. The
How do you go from here to making                          reason is simple: when you first start
money consistently with sports arbitrage                   out you will be prone to making
trading?                                                   mistakes. You will probably be excited,
                                                           nervous, perhaps slightly overwhelmed
Honestly, a lot of it comes down to                        by the navigation of the bookmaker sites
experience. Your software will identify                    and almost certainly on edge as you
opportunities for you and your job will                    hear the clock ticking against you. If you
be to investigate them, betting on them                    add to all of this the pressure of knowing
when you can. After just a few months                      that you are placing bets worth several
of arb trading, you’ll probably have a                     hundred pounds, you create a situation
pretty good idea of how to find and spot                   in which mistakes are almost inevitable.
the best trades. There are several ways
to go about it, and you’ll probably


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How To Become A Successful Sports Arbitrage Trader




SMALL STAKES

Now, don’t get me wrong. Mistakes are
a great way to learn. In fact, they are
probably the BEST way to learn!
However, if you can avoid losing large
sums of money when making these
mistakes and learning the lessons, then
it’s better to do so. Not only from a
financial perspective; also from a
psychological perspective. If you lose a
large sum of money early on in your
sports arbitrage trading career, this will
severely impact your confidence and
may actually result in the demise of
your project. It is impossible to trade
effectively if you are constantly second-
guessing yourself as a result of a large
error you made in your first few weeks
as a trader.

By making several small bets at first, you will start learning immediately and you will
be gaining extremely valuable experience which you will use later on when making
bigger and bigger bets.

My suggestion is that you invest no more than £1 in each of your first 100 sports
arbitrage trades. At the end of the exercise you will have gained enormous experience
and confidence, you will have a deep familiarity with a large number of your
bookmakers’ websites and you will know, with absolute certainty, whether or not to
continue with your trading project. And whilst you will probably be in profit of about
£5, if you made any errors which cost money, the most you can possible have lost
would be £100.




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How To Become A Successful Sports Arbitrage Trader




OTHER TIPS FOR SUCCESS

Join the Online Sports Arbitrage Community

                                                     There’s a reason they call it the information
                                                     super highway.

                                                     In all walks of life, there’s really no better
                                                     way to improve your skills at what you’re
                                                     doing than practice, and sharing and
                                                     swapping tips and info with like minded
                                                     individuals.

                                                     Engage with the community within the
                                                     TraderZone & check out sports arbitrage
                                                     forums


Use one type of currency per account

As a novice trader, it’s a good idea to use only one currency per-event, and to keep
each of your accounts dedicated to a single currency. The problem is that currencies
tend to fluctuate over time, if you’re betting say, euros against pounds, you’re going
to have to double check currency rates every time you place a new bet to make sure
you know what you’re getting. Not to mention, the hassle of constantly exchanging
different types of currency every single time you place a bet can get a little
overwhelming and hard to manage.

Surebets Detection Services and Software

A number of services like ArbAlarm allow arb traders to be in the know whenever a
good opportunity springs up. These are definitely recommended for all traders, as
they have the ability to gather and process price data far more efficiently than any
human can do manually. This is not to say that you won’t also be able to find some
arbs manually. This is entirely possible because software can’t detect all types of arbs
all of the time (software requires consistency to work best). But for your bread &
butter trades, you need sports arbitrage software.

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How To Become A Successful Sports Arbitrage Trader




OTHER TIPS FOR SUCCESS

Reinvest!

If possible, try to keep the profits you make from the first 2-3 months in the system.
The increase in capital will, in turn, allow you to place more trades and make higher
profits. After some time you can change the ratio – for example you may decide to
withdraw 50% of your profits each month and reinvest the other 50%.

Cast a Wide Net

The more bookmaker accounts you have, the larger selection of sports arbitrage
trades you will have to choose from. ArbAlarm scans well over 100 bookmakers.
Although you may not wish to use them all, you should have an eventual target in
mind of at least 50 accounts. Use ArbSurfer Pro to manage the process of signing up
to them accounts and managing your various log-in codes.

Make Small & Frequent Bets

Whatever investment money you have to spend on arbitrage betting, it’s wiser to
make dozens of small bets with dozens of bookmakers than it is to make a few large
bets.

As a general rule of thumb, look to bet approximately 75% of whatever maximum the
bookmaker will allow on a specific event. IN practice this will mean that your average
total investment in any arb will be around £600.

Start With Realistic Expectations

With 2-3 months experience and assuming you have enough trading capital and time
to devote to your sports arbitrage business, you will almost certainly be generating
profits of several thousand pounds each quarter. However, for the first 1-2 months
you should set your expectations well below this and focus more heavily on building
skills and confidence.




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How To Become A Successful Sports Arbitrage Trader




STICK WITH IT

                                                     Persistence is extremely important. You
                                                     need to go into arbitrage trading with a
                                                     positive attitude and it’s important to be
                                                     able to maintain this attitude throughout
                                                     your ‘apprenticeship’.

                                                     You may have originally heard about sports
                                                     arbitrage from any number of sources
                                                     which claim that it’s ‘easy money, hardly
                                                     any work, a road to riches’. Of course, this
                                                     is all hype.



Sports arbitrage offers a route to an easy to maintain steady positive cashflow IF
you first put in the effort to learn the ropes. Of course, it will seem easy when you
watch an expert (YOU after 3 months of trading experience) but so does tennis when
you watch Roger Federer play!

When you get to the stage where you know what you are doing, each trade you
place should not take more than 90 seconds to execute. You will be able to decide
when you want to trade, you’ll go to your computer, you’ll fire up your software and
choose the trades that suit you. You could spend an hour doing this and by the end
you may have placed 10 or 15 or more trades and you may have made as much as
£300.

This may sound like ‘hardly any work’ but you wouldn’t have been able to
do any of it if you hadn’t put the work in before whilst you were training
yourself to be a sports arbitrage trader.



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                                                     5
How To Become A Successful Sports Arbitrage Trader




ABOUT SPORTS ARBITRAGE WORLD

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Our success has allowed us to invest heavily in our server/network infrastructure and
our development and support teams.

What this means for you is that you get software which works and is updated with
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It also means that you have access to a professional support team dedicated to
helping you succeed with your sports arbitrage trading.

Our latest innovation is the TraderZone sports arbitrage trading platform. This is
already the most advanced tool of its kind in this industry and it’s gathering rave
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DOCUMENT INFO
Description: Okay, so let’s say you’ve chosen your sports arbitrage software, you’ve opened your new bank accounts, credit cards, and online wallets, you’ve positioned your spare cash to fund your new project, and you’re ready to start trading.Now what?How do you go from here to making money consistently with sports arbitrage trading?
About I spent most of the 1990’s as a foreign exchange dealer and futures trader in the City of London. Leaving the City in 1997 to focus on new opportunities unfolding as the Internet became mainstream, I discovered a rapidly growing range of risk free arbitrage trading opportunities created in the online sports-betting markets. After a year of research, during which I ran a successful private sports-arbitrage trading fund, in 1998 I created the world’s first and foremost sports-arbitrage trading software, ArbAlarm. Today, I focus my attention on helping new traders through my articles, books, seminars and software innovations on my website www.sportsarbitrageworld.com