So, what rules should we follow when trading?

Ask a hundred traders and you will get a very varied list of their favourite rules. Here are some of mine in no particular order.

Only use a small percentage of your bank on each trade – the percentage varies but is usually between 5% and 10%

Never enter into a trade unless you already have a plan of what to do if things go wrong.

Never trade when ill or tired.

Never trade if you are likely to be interrupted.

Never trade if you are upset or angry about something. For example after an argument.

Never jump into a trade when the match is part way through and if you have just started to follow it. Watch how the match is progressing and you have a chance to make a better decision. Often you see what looks like it is a good opportunity but if you haven’t traded the start of the match its so hard to get a feel for how things are going. Probably the hardest one for me to learn.
**EDIT – There are tools that can help you get a feel for what has happened. One good one is the point by point info on tennis24.com and Flashscores.com

Don’t get too greedy, especially while you’re learning. If you can green up for 10% of your stake, take it. As you get more experienced you will spot plenty of opportunities to let trades run longer for larger profit.

Hedge your profit or loss. A tennis match can turn around very quickly! This one needs a little clarification. I do often leave more profit on one player. This is ok to do if you feel one player will win the match and can increase profit IF you are right! So often, I wish I had just hedged evenly and moved on.

Cut your losses quickly. If you can keep the red figure down you have more chance of turning it into a green later in the match.

Try to avoid trading deciding sets. The price movements will be scary! If you do trade the final set it is better to use reduced stakes or better still, use profit that you have made earlier in the match.

Be very careful when trading tie breaks and ideally avoid them. Similarly to how we trade final sets, use reduced stakes or existing profit.
EDIT – There are some entry points that I will use, such as laying the player leading 3-0, or laying the player who is serving at 5-4 in the tie break. Small stakes.

If trading without live video always use at least 2 scoreboards. One may freeze or show an incorrect score.

If you have an open trade do NOT leave your PC. There are times when this can’t be avoided such as a toilet break. If I have to visit the bathroom I wait for the change of ends in the match so you have 90 seconds to 2 minutes to get back!

If you find yourself getting angry when matches don’t go your way it is better to take a break. Go for a walk, make some lunch or go and watch TV. Whatever you do, move away from the PC. Trading while angry is an excellent way to lose more than the amount that made you angry in the first place.

I’ll keep adding to this list as I think of them 🙂