If you think it is an impossible dream to trade betting exchanges for a living then following Caan Berry a professional Betfair trader is about to prove you wrong.
For those new to trading online at betting exchanges, the name Caan Berry will not mean anything to you, but for those who have been in the business for many years, Caan Berry is a leading figure in successful online betting.
Perhaps the keyword in the sentence above is ‘successful’, and there is no doubt Berry has tasted plenty of that during his time as an online sports trader. His website aims to show his journey in trading at betting exchanges plus offers advice to those who want to start trading themselves.
You can access the website at www.caanberry.com, but what can you expect to find?
Perhaps the best place to begin is the ‘About Me’ page, and here you can get an insight into the man himself and his journey. He started working in a local McDonalds before deciding to join the army, being deployed in the Middle East and seeing plenty of action. It was as a result of that action that Berry decided his life had to change, and with his partner pregnant, other opportunities were explored.
One of which was Betfair trading and having taken a lot of time studying successful traders and committing to the cause, Berry found success of his own.
A background story does not make the information on the website any more or less useful, but what it does do is show you how you can start trading regardless of your circumstances and make it work. Persistence and hard work are required, and Berry makes that clear from the off, which is a good thing.
There are three links at the top of the homepage, and these each lead to paid content. However, you can access the blog for free, but the best place to start is the Beginners School. There is plenty of information here, and it is all available for free. If you are beginning your Betfair trading, you will find this extremely useful.
Even the most basic questions, such as ‘What is Betfair Trading?’ are answered in tremendous detail, including images and no stone has been left unturned when it comes to providing explanations of the critical points. As you work your way through the Beginners School, the questions become more specific and the detail more exciting, even to the end where you will find examples of successful trades and how they were done.
Nothing beats seeing a worked example, and Berry has several available in the Beginners School section of the website.
Having completed the Beginners School, you can decide if you would like to sign up for paid content. The content splits into three categories, and you can choose from a Pre-Race Trading Guide, Video Pack Course and Tennis Trading Guide. The prices range from £39 to £147 for the Video Pack Course.
During this review, we signed up for the Pre-Race Trading guide, and you can do that by following this link.
The guide is split into four different steps, and they are easy to follow. The first step shows you how to get the best out of the guide, and while this may seem like more of a way to bulk up the guide rather than providing anything of great use, there are some excellent tips. Especially when it comes to understanding graphs and charts, so do not skip this section.
Following that, we come to the main guide, and this is provided via an on-page viewer, and you can scroll through the 118 pages in your own time. There is a lot of content to get your head around in this guide, and you are advised to be patient. Making notes will prove useful, as there does not appear to be any method of downloading the guide as a PDF to your computer, which is a shame.
Once into the guide, you will be talked through Caan’s desk set-up, so you can follow the same way before moving into details about betting markets and how they work. In truth, this is not very exciting, and the information is bland but, and it is a big ‘but’, you need to know this stuff if you want to succeed and Caan explains that himself at the beginning of the section.
It will take you several hours to work through the guide, and it can feel tedious, but as Berry explains, there is no reward without persistence, and you are advised to remain patient and work your way through the information. You are unlikely to find a more comprehensive guide anywhere online, and Caan has clearly worked very hard to provide good value for money.
At the end of the guide, there are some bonus videos, one of which looks at scalping and the other is about mindset when trading. Both are worth watching, and the psychology aspect of trading makes for very interesting viewing.
The Pre-Race Trading guide comes highly recommended and will provide you with everything you need to have and know to make successful trades. However, there is always an element of risk and should never assume you are going to make huge amounts of money, even when using a very good guide.
Moving from the paid guides to the blog and you will find some fantastic articles here, all of which are available for free. From tips about how to place trades on specific sporting events to trading advice, stories from other traders and general information about safe gambling, the blog is full of solid information you can use.
Finally, we come to the product page and here will find links to Caan’s book, ‘Betfair Trading Made Simple’, and the three guides highlighted previously.
To sum up, Caan Berry’s website is a goldmine of information. If you expect to visit the website and come away in 30 minutes armed with all the knowledge to make successful trades, you will be disappointed. However, if you are willing to take the time to learn from one of the best in the business, you will find everything you need to put you on the right track.
Exclusive interview with Betfair trading expert Caan Berry
Firstly, Caan, I would like to thank you for taking time out of your day to perform this interview, I am sure it’s one our readers will certainly enjoy, also if you would like to know more about Caan you can check him out over at CaanBerry.com and you can see him at Betfair’s site for those of you who don’t know he is also the author of the number one selling betting book on Amazon.
Caan Berry Pro Trader
YouTube Channel for Professional Betfair Trader - Caan Berry In 2009 I started out playing around with this thing…
Ok so without further ado here is the interview:
1. You started trading ten years ago now what is the best piece of advice you would give to yourself if you were starting today?
A heavy question to start there Jon!
There’s a huge list of things I could say, but that in itself highlights the most important thing by far — focus.
It’s really easy to become distracted by different ideas, comments and opinions that bounce about. All of this is great, but if you don’t focus intensely on the right area it’s hard to go the distance. Personally, I have been very guilty of this and it didn’t help me one bit.
I would say; focus intensely on one area of interest within the market, realise how much of a variable your own emotions are whilst trading and try very hard to master one little piece of the puzzle first.
Knowing is one thing, but doing is another — don’t get distracted.
2. Do you prefer swing trading or scalping?
A Typical question, but it depends on several things, but my personality and experience centre’s around short-term trading. The only downside is that it’s not quite so easy to use a scalping strategy (link below) in every situation.
Swing trading is cool too, it’s just you need to be able to sit on your hands!
Some people set out with the greatest intentions of swing trading, but as soon as the price starts to move they close out their profit. I can sympathise, which is probably why my preference is probably with scalping.
3. What do you feel is the best life skill you have learned that has helped you become the trader you are today?
Easy answer; self-awareness. I know that’s a pretty sweeping statement though, so let me explain…
Trading isn’t the easiest discipline to master, it’s taught me a huge amount about myself. To become a manual trader it’s something you have to experience, there is no short-cut.
However, learning to trade has brought me a level of self-awareness that has helped all areas of my life and, that same self-awareness has made me good at what I do in the markets. I literally wouldn’t trade it in for anything, self-awareness and continual development is priceless.
4. What is the most memorable moment trading?
There have been many, but I always quote the same one when asked this — Kauto Star on the last appearance. It wouldn’t have mattered if that horse suddenly lost a leg, with the media coverage, historic performances and publics emotion the price was only going one way. It was an absolute dream to trade.
Despite knowing all this; I was still shocked… walls and walls of money for it. The price bombed, I can’t remember exactly how much but I made in excess of £500 on that one race, which was good at the time! I was exhausted afterwards!
5. Where do you see yourself in ten years?
Great question; never sure how to answer it. In all honesty — I don’t know.
I think it’s likely I’ll spend a bit more time on business and investment. I’ve been trading for a while now, and whilst it’s addictive, it brings new problems I have never experienced before. Like; where do you effectively invest money you’ve made?
I don’t see the point in slaving away at Southwell for another couple hundred quid whilst existing profits earn 0.5% in the bank.
If you were to ask me that question ten years ago, having just arrived back from Afghanistan I certainly wouldn’t have guessed where I am now.
Maybe come back and ask me again in ten years! (Read more about Caan Story of how he come into trading below)
6. Have you ever tried and new strategy and how long did it take for you to feel comfortable it was successful or move on, knowing it was a failure?
Of course, many times over. Many of them have led to nothing, but it becomes easier to accept the truth when you keep accurate records etc. If someone’s unsure about the success of their approach they should analyse the facts (data). Kidding yourself is a big problem for new traders.
The tip if I could give one in this area is not to just look for a new strategy…
Be strategic in how you approach development. Why not just look at what’s currently working for you — and then find new areas to implement it. New sports, different markets?
It’s way easier…
7. Trading carries a mix of technique, discipline and phycology, do you think it is possible to become a successful trader without all three?
No. The killer out of those 3 is usually psychology too. There’s a good YouTube tutorial about it here:
Discipline is a funny one. If you know what you’re doing, what works, what doesn’t and how you’re feeling about the situation emotionally… you’re more disciplined.
I tend to think discipline is like motivation, it’s a manual over-ride that get’s you going. Not much more. Technique and psychology are up there with understanding and logic though no doubt.
8. How much time a day do you spend analysing/trading?
More than I used to, in the earlier days I would spend the afternoon in a beer garden. Roll out of bed hung-over and get started about 30–40 minutes before. Looking back, it was a bit daft.
A scan in the mornings, hour or so before and plenty of watching as the live shows start to develop can be really helpful. Often there are early tell-tale-signs available.
As I mentioned previously though; keeping track of what you did and why is important too. Just because you can’t shirk responsibility later. Too many people make up reasons as to why something went wrong after a trading session when really, the reality is they just cocked it up clicking like a maniac!
9. What has been your worst ever mistake?
Loosing my tempter. Maybe I’ve mellowed in age, but when I first started I would get wound up (by my own stupid behaviour) and make things a whole lot worse.
There’s a story about it on the YouTube channel somewhere if you look but one day I was short on time, had an appointment, made a couple miss-clicks and well… it was nasty. I even dinked my car rushing around after too.
10. Where do you see trading as a whole in the next five years (mainly algorithms or will there be a place of human traders)?
This always makes me laugh. It won’t be algorithms until computers can read a horses behaviour, understand the sentiment on the day’s activity, cater for delays in scheduling etc etc.. the list goes on.
There are so many variables, it’s just not close to a point where algorithms can cater for such things. Sure they have their place but it’s a big old market-place.
Over 5 years, I don’t know — my biggest concern being the exchange providers and their lack of interest in exchange products. Several of the contenders seem to be opting towards gaming and casinos instead.
11. What’s the story behind Betfair promoting you? Do you get a special deal?
…that’s not to say I never asked, I certainly did. People always seem to think I have some kind of special affiliation with Betfair and Betdaq, just because they have promoted me.
They first contacted me several years back as part of the ‘trade like a pro’ campaign. They promoted several professional traders to show the exchange in a positive light. Sharing the possibility of winning with the use of the software. There were pretty stiff criteria and you had to earn a lot so they only ended up with a few of us doing it, you may have heard of Steve Howe — he did it too.
From there it just blossomed, which ended up with a day event in February too. (Check out more about the event below)
Pro Betfair Traders Event: REAL People! -
It’s been and gone! But if you couldn’t make it — here’s a recap of the first-ever Betfair traders event. Despite the…
Also, checkout Caan’s new service showing his users how to make money Online Matched Betting for FREE! They already have a vibrant community and if you Sign up now and they will walk you through how to make a risk-free £25+ in 20 minutes…