Scratch Trade in Protecting Your Assets
Have you started betting on Betfair yet? If so, you probably feel the excitement since there is a chance that you will strike big on the online day trading. What strategies have you employed to win?
There is a tendency for beginners to not safeguard their capital. They make trades using only one selection, but they’re not really using countermeasures in the event that something doesn’t go their way.
One countermeasure I am talking about that is often overlooked by new traders is the scratch trade. Basically, a scratch trade is where you back a bet and lay on one selection at the same price.
This is used so that you can get out of your position safely without losing too much of your valuable assets. Betting exchanges like Betfair have this thing called Market Volatility in that the price is always going to change based on certain factors. And the thing is, you really cannot do anything about it. What you can do is just employing measures to make sure that you do not lose a lot of your money.
I am in shock because I just find it interesting that scratch trades are not new; this tactic has been around for so many years. And yet, new traders do not use this tactic because they’re off-put by the notion that the price might go in their favor.
That is true. As I’ve said, you have to take into account different factors. But, how can you really be so sure, with 100% certainty, that you’re going to win on a particular trade? There is no way of telling, right?
That is why countermeasures like scratch trades have been made for that purpose.
Here is the thing: the fewer scratches that you do, the bigger the chance that you will lose a lot. If you’re a new trader, this advice can potentially make or break your chances of becoming wealthy while trading in this platform.
What You Can Do
The hallmark of becoming a good and wealthy trader is that you look at the market as it is and looking it closely at that. The good thing is that everything is presented to you when you use an online trading program to access Betfair.
Look closely at the ladders. If you’re betting on horseraces, look at the condition of the horse. Or better yet, look at the favorites. Place your bet after looking at the factors that can influence the outcome of the race such as the course, the weather, among other things.
After placing your initial bet and the race has started, look closely at the racehorses.
If you find that the horse you’ve bet on isn’t going to win, employ countermeasures so that you won’t lose a lot of money.
A scratch trade is good for this purpose. Yes, you might not win and you might not earn anything, but at least, you’re not going to lose a lot. Don’t be a beginner trader that knows nothing; be a new trader that knows how to hedge their assets.