Going Green for Guaranteed Profit
This is a term used by people who trade bets. Trading means that no matter what the result the trader will either:
Profit if their selection wins but no loss to them if it dosent
or
Profit regardless of the outcome.
To achieve a succesful trade (as not all are successful) you need to back a selection at a high price and then later lay the same selection at a lower price than you backed it at . This same result can be achieved by laying first and then backing at a higher price than you layed it at.
This sounds very easy but it takes some study and plenty of practice to work out which way the markets are going to move. It is high volumes of money that push the prices one way or another eg if a lot of money and I mean a noticable amount of money is being bet on a particular selection this is a good sign that the price is going to come in and vice versa.
There are certain pointers you can use to predict price movement eg. if you are trading on horse racing the Racing Post will have the movers on their site, odds comparison websites, sports TV coverage of an event may give you some clues as to what is popular and what is not.
On the Betfair site itself you can view all the ups and downs of a selection over a period of time.
Click on your selections name and a chart will appear:
This chart shows you the amount of money that has already been traded (right hand side) and the money in the queue waiting to be traded .
The graph shows how the selection has progressed over time. It also tells you how much has been traded on the event as a whole and how much of that money has been traded on that particular selection and the last price it was matched at.
An Example Trade
So, in this situation, I have noticed a downward trend on the price of Fol Hollow - you can see that in the first image (price graph). There's also much more waiting on the "lay" side of the market, which is a good sign.
I decide to back Fol Hollow for £100 at 4.50 with a view to laying off once the price has shortened. At this point, I stand to lose £100 if Fol Hollow loses.
The money continued to come for Fol Hollow so at 4.00 I decide to place a lay bet on Fol Hollow for £100.
This has given me a profit of £50 if Fol Hollow wins but no loss if it doesn't.
However if I had decided to place a lay bet for £112.50 I would stand to win £11.87 no matter what the result. This is what is known as Going Green.
This is an example of a small movement in the price in a short time, however, you will often find prices can move significantly more than this - therefore giving more profit from going green.
It really takes some practice to predict the way the market is going to move but if you fancy your hand at trading then be sure to follow these golden rules.
The Golden Rules
- Start small, maybe paper trade until you feel confident.
- Do your homework, on the event you will be trading on.
- Have a plan, know when you are going to trade in and out and stick to it.
- Don't be greedy, even a few pence profit is a successful trade.
- Don't trade just for the sake of it, much better to have fewer more successful trades.
- Have a betting bank.
- Don't trade on the higher priced selections, the increments between the prices are too great and their is not much liquidity to create movement.
- Losses will happen, so expect it.
- If the market moves against you get out , dont leave your trade open.
- Don't bet with money you cant afford to lose.
GOOD LUCK!
Join Betfair here so you can trade for no loss!
