Alex Reid's betting odds of yesterday when I posted my betting tip on the Celebrity Big Brother UK show do seem tempting now, don't they? My betting tip was to back Alex Reid and lay Dane Bowers and if you are usually trading in Betfair you have already made money! Alex' betting odds fell from 2.32 to 1.76 while Dane's odds drifted to 5.5 from 3.80. Sufficient trading profits for one day's work, don't you agree?
Technical analysis is popular in financial markets like the stock exchange. Since Betfair is a betting exchange and odds fluctuate like stock prices one could say that technical analysis may also be applied to the Betfair betting graphs. Betfair trading has quite a few differences compared to stock or forex trading though, but basic technical analysis tools should work just the same. However, many Betfair traders continue to doubt the effectiveness of support and resistance levels or reversal patterns and dismiss technical analysis. Are you one of them?
Having started trading the Betfair markets with a dial-up internet connection in 2004, I can guarantee that your internet speed matters a lot in your trading performance. Apart from having fast refresh times which means always knowing what is going on, your orders are executed much faster. Broadband speed is very important if you trade in-play markets or if you are into scalping, but if you are a positional trader or maybe you prefer swing trading, speed is not what will make you rich after all.
Betfair trading is all about odds movement. By learning basic terms of technical analysis like support and resistance, and applying them to Betfair graphs, we are able to make money by correctly predicting them. I included 7 betfair graphs from yesterday's horse racing betting markets in this article and I try analyzing and discussing the various support and resistance levels in them. I used to study about technical analysis in the past years when I traded the Betfair UK Horse racing markets and I applied the same knowledge back then to make about 10,000 euros per month. I'm not sure if they can be applied profitably in today's markets but they will certainly help you understand and predict the odds movements more efficiently.







My name is Jim Makos and I am a professional gambler since 2003. I played at the casinos' blackjack tables for a year and during the following 2.5 years I have been a Betfair trader trading the odds in the UK Horse Racing markets. Nowadays I'm playing online poker. Apart from online gambling, I also write about online poker and trading for the Betfair's Greek Blog and own various websites.