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Betfair Trading Cashout - When Should I cash out of my trade?\nBetfair Trading Cashout - When Should I cash out of my trade?\nCahing out for those that don't know is simply the process of closing your Betfair trade and taking a profit or a loss.\nThere are multiple ways to do this but today we are going to discuss the three main options.\n1. Not cashing out - letting the bet run.\n2. Cashing out for a free bet.\n3. Cashing out for a profit no matter what the outcome of the event.\nThese principles work in all sports trading markets.\nI will tell you how to know which one you should use in any given moment.\nSo let's get on with it!\n1. Not cashing out - Letting the bet run to completion\nThe first and simplest option just place a bet and leave it to run.\nSome Betfair traders have a real aversion to letting a bet run, regardless of whether or not it is the optimal play.\nWhy?\nThey feel that it is more like straight betting.\nThey are of course correct, this is straight betting but the truth is if you make more money long term letting a bet run, then why not do so?\nThe upsides -\n * You may make more profit long term\n * You do not have to worry about when to close the trade\n * You can go out for the day once the bet is placed, no emotions needed when exiting\n\nThe downsides -\n * You can have higher variance (losing runs with harder downswings)\n * You do not exit a trade and need the final result to go your way\n * You may not monitor the game and therefore exit if it's obvious to do so at some point\n\n2. Cashing out for a free bet -\n****\nIf you cash out for a free bet on Betfair, you are essentially putting all of your green on one outcome whilst also having zero losses on the other side of the betting market.\nThis is a great way to remove all of your risk and still have more upside on the outcome you think will win.\nThe upsides -\n * You remove all risk\n * You still win more on the outcome you originally chose\n * You still have the option to totally green up later on\n\nThe downsides -\n * You may not make as much money as your original selection may not win\n * Winning £0 isn't bad but it doesn't always feel great if you could have won more\n\n3. Cashing out for a profit on all outcomes\n****\nThis is probably the most common exit strategy and it makes a lot of sense. You can walk away with a profit no matter what happens, so why not take it?\nThe upsides -\n * You win no matter what, so second guessing yourself!\n * It's very simple to execute this trade, just hit the cash out button.\n\nThe downsides -\n * You make a smaller but equal profit on all outcomes no bonus if your original pick goes onto win.\n\nSo there you have it!\nThe three main cashout options.\nSo how do you know which one to do for any given strategy?\nThe answer is simple.... you are going to kick yourselves!\nTest them.\nWhen you test a strategy make a note of which cashout option would have been successful.\nDo this for all three outcomes and then work out which cashout strategy would have made the most money.\nMy advice is to follow that option!\nNow here is hoping Djokovic will complete a nice trade here!!!