I cracked and decided I needed some more software to help me with my trading. Rather than go for Bet Angel Pro or one of the other subscription based products, I thought I'd try out one of the one off fee products I had heard good things about. I gave Bet IE Trader a go.
So, what is it like?
First of all, it has a licensing model, which involves sending an email with a code to the owner company and waiting for their reply. This isn't explained very well and seemed a bit of a strange way to go about things. Still, it worked.
In terms of the software itself, I was a little disappointed, but then again I did have very high expectations.
What I liked
I liked the weight of money graphs. These show the difference between the back and lay volumes graphically. You can easily see which way the market is pushing. This taken in addition to a graph over time gives a nice trend indication.
The ladder interface for seeing the odds and related money was very clear.
The auto hedge feature makes handling your staking easy.
The equalise button was pretty cool for greening up.
The learning mode is a clever touch, although it would be nice if it integrated in with the Betfair part of the screen (I understand why it doesn't).
What I didn't like
As a professional software developer, I am quite picky about a software package's user interface, ease of use and features. Bet IE Trader did not really impress me there and did not seem very professionally put together, windows didn't resize properly, the layout wasn't very clear.
Having half of the BetFair screen below, was not something I liked. It looked like the developers were taking a shortcut.
Overall
I'm holding my judgement until I've used it more. This was my first go with it and I'm still getting used to the ladder interface. I did accidentally make a bet I never intended, which annoyed me, but is my own fault. I'm sure it will help me improve my trading successes, which is the reason I bought it, although it does look a little amateurish.
My Plan
What I've tried doing is running Bet IE Trader and Betfair direct side by side on my two screens (I have a laptop, with its own screen and a second flat screen monitor next to it, which I extend my desktop over). This way I can see the graphs etc from Bet IE and also see the now familiar BetFair direct application.
Tuesday, 12 June 2007
Ooh, Betty!
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"How to Stop Losing and Start Profiting"
3 comments:
Hi Richard,
Just found your blog and wanted to wish you well with your plan. Nice to find a thoughful, articulate blog for a change. I've just discovered betting exchanges within the last couple of weeks and like yourself, am looking to build a small bank into a large one (not too sure about a 100K though!)more as a mental challenge than anything else - although a few quid wouldn't go amiss!
Anyway, just thought I'd let you know that I'm reading.
Hi Richard,
Just found your blog and wanted to wish you well with your plan. Nice to find a thoughful, articulate blog for a change. I've just discovered betting exchanges within the last couple of weeks and like yourself, am looking to build a small bank into a large one (not too sure about a 100K though!)more as a mental challenge than anything else - although a few quid wouldn't go amiss!
Point of interest. I recently purchased Bet-IE and have been dutching the horses on paper. 55 bets 41 wins. Not too shabby. Not the prettiest of products but does seem to deliver.
Anyway, just thought I'd let you know that I'm reading.
Hi Sparks,
Thanks for your comments and well wishes.
100K does seem a lot, but the way i thought about it, it is better to aim for 100K and miss, ending up on 20K, than to aim for 20K and miss ending up on 2K. Might as well aim high!
It sounds like you are doing well with your use of Bet IE. Cool. Please let me know how you get on or if you have any useful nuggets then I'll happilly post them up here.
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