What did everyone do before they found Sports trading/ Bet Angel

[Euler]

So most of my trading focus has always been on better understanding both the order flow side of the market and the psychology side that drives it.

There is a lot of depth there that is worth exploring. Academics are notoriously bad at thinking that through, because you can't put it on a spreadsheet and it doesn't make sense.

[andrew1112]

i started through normal betting through a bookie, then match betting and now find myself trading

[trader44]

Always wanted to ask peter about when you first started trading.did you make the usual mistakes as us newbies when we started ie not taking a controlled red or doubling stakes to get losses back.i always imagined you as being super disciplined from the start

[Dallas]

I've been self employed and running my own businesses since a few years after leaving school.

The latest was a transport business which I sold back in 2012, I still have other intrests at the time in property but that more or less ran itself and I had a property manager to handle what day to day stuff there is.
Trading purely started as a way of passing time and reliveing bordom for me

[Euler]

Always wanted to ask peter about when you first started trading.did you make the usual mistakes as us newbies when we started ie not taking a controlled red or doubling stakes to get losses back.i always imagined you as being super disciplined from the start

I've made every mistake possible but learned from them. I actually cut my teeth trading short term financials but was hopeless, for reasons I know now. So I came into sports trading pretty well primed not to make the same mistakes.

But sports trading has taught me huge amounts about myself and the markets. So I'm now in a position to know where I went wrong when I traded financial markets short term.

[ShaunWhite]

" Claim to fame: Nick Leeson killed Barings using my software."
haha that made me chuckle

I told them the Compliance Dept should be signing off trades that breached the limits but they insisted on a dealer override..... the rest is history. The 90s were a time when firms had scant regard for rules.

Real claim to fame was sitting behind Mick Jagger and David Bowie at the cinema. (wife v1.0 was in marketing and bagged premier tickets)

i'm still waiting for the full story on how Peter managed to drop his sunglasses in Justin Timberlake's swimming pool!!! I'm guessing he wasn't the pool boy.

[PDC]

So I'm now in a position to know where I went wrong when I traded financial markets short term.

Out of interest why haven't you therefore gone back to financial markets with your new knowledge about yourself and the markets?

I would have thought you could make several multiples of what you can make on sports exchanges due to the scale limits on sports markets which you often talk about but there is almost infinite scale possibilities on financials.

[ShaunWhite]

RoR is about 10% on financials if you're decent. Sports markets are more lucrative unless the life savings go in the pot. And let's face it, they're a lot more interesting than dull financials which is a big deal once you're already financially secure and you're only working for fun. That's my guess anyway.

[PartsUnknown]

I was a twenty-something aspie guy working humble data entry and web dev jobs in the mid-2000s, trying to find a career that suited my numbers-obsessed introverted personality.

As with many others like me there seemed to be a natural gravitation at the time towards either poker, betting, sports trading or financials. I chose Betfair, the meritocracy aspect really appealed to me, as did the ability to work alone all day then have plenty of energy afterwards to socialize on my own terms, rather than being drained by 5pm.

Had a really enjoyable, challenging, successful 13-year run before being suddenly cut off due to being born in the wrong place.

Currently getting into financials but hoping to move abroad ASAP to go back to trading on Betfair. PC or not there's something just so comforting about those markets

[Big Bad Barney]

Then I think Wayne Bailey's book got me most excited.

Wayne was a librarian, came on my course, put some of that content in a book without crediting me then went back to being a librarian.

Not that I'm bitter or anything.

lol, well if it's any consolation I've read that book 3 or 4 times and highlight with yellow marker the good bits. But haven't implemented it to profit yet... Seems to me biggest part of trading is dealing with the psychology... he missed all that stuff in the book.

Wonder how many copies of such books get sold...doubt its highly profitable or anything...seems an enjoyable thing to do tho...

[wearthefoxhat]

Then I think Wayne Bailey's book got me most excited.

Wayne was a librarian, came on my course, put some of that content in a book without crediting me then went back to being a librarian.

Not that I'm bitter or anything.

lol, well if it's any consolation I've read that book 3 or 4 times and highlight with yellow marker the good bits. But haven't implemented it to profit yet... Seems to me biggest part of trading is dealing with the psychology... he missed all that stuff in the book.

Wonder how many copies of such books get sold...doubt its highly profitable or anything...seems an enjoyable thing to do tho...

I've been on PW's course and read the WB book too. PW did get an honourable mention on P.33.

Both have value to them, I would say, I got more from attending the PW's course as there was more interaction and live trading (profitable) examples.

I've said before though, if PW ever wrote a book, it would sell like the "Harry Potter" of the literary world...

sales.GIF

[trader44]

Always wanted to ask peter about when you first started trading.did you make the usual mistakes as us newbies when we started ie not taking a controlled red or doubling stakes to get losses back.i always imagined you as being super disciplined from the start

I've made every mistake possible but learned from them. I actually cut my teeth trading short term financials but was hopeless, for reasons I know now. So I came into sports trading pretty well primed not to make the same mistakes.

But sports trading has taught me huge amounts about myself and the markets. So I'm now in a position to know where I went wrong when I traded financial markets short term.

thanks for the reply peter it makes me feel better about my f**k ups

[Satoshis]

Nice to read all the comments.

I was wondering if there is a telegram community or any IM community? It would be cool to chat live with everyone! Maybe I could make a thread about?

[Satoshis]

Always wanted to ask peter about when you first started trading.did you make the usual mistakes as us newbies when we started ie not taking a controlled red or doubling stakes to get losses back.i always imagined you as being super disciplined from the start

I've made every mistake possible but learned from them. I actually cut my teeth trading short term financials but was hopeless, for reasons I know now. So I came into sports trading pretty well primed not to make the same mistakes.

But sports trading has taught me huge amounts about myself and the markets. So I'm now in a position to know where I went wrong when I traded financial markets short term.

I have also been burnt trading short term in financials and crypto. I find trading them Macro to be much better. My aim is to master options by the end of this year!

[trader44]

is anyone on here from the north east