Good luck to all that are still in the game!
4 years of working fulltime trading the markets and monday I start back in the office. I have a 2 month project to do for the guys I used to work for with potentially a fulltime role afterwards.
Its going to be interesting going full circle and sat back at the office desk at 9am monday morning!
Hanging up my fulltime boots guys
various reasons but the main one is the markets are shrinking seemingly faster by the day. The premium charge has completely killed sports trading as a viable career for most people. Maybe betfair will do a u turn and there will be a resurgence but I don't want to sit on the side waiting for it to happen for the next 5 years digging an even deeper hole in my cv. I'm very lucky to have had an offer which will put me at a level at least where I was when I left. I completely expected to have to start again from scratch so it a bit of a result. I'm going to take a bit of a pay cut and likely some financial pain for a bit but it could be a lot worse.
I've only got a guaranteed 2 months anyway and I'l still be trading weekends and the odd evening.
I've only got a guaranteed 2 months anyway and I'l still be trading weekends and the odd evening.
Good luck to you mate
Stay in touch & let us know if life is indeed better elsewhere
I registered with some sales agencies recently, but people just don't grasp sports trading at all - they all seem to think I've spent 5 years lazing about and gambling!
I'm starting to get more proactive though, as I'll be hitting the next PC this year - 20% I can handle, anything up to 60% I cannot!
Stay in touch & let us know if life is indeed better elsewhere
I registered with some sales agencies recently, but people just don't grasp sports trading at all - they all seem to think I've spent 5 years lazing about and gambling!
I'm starting to get more proactive though, as I'll be hitting the next PC this year - 20% I can handle, anything up to 60% I cannot!
the 60% barrier is such a killer for pretty much all but the top pros. I imagine there are only a handful that make enough to cover it and still make a decent amount for what they have to put in.
If I had to go round the agencies I would have real trouble even getting an appointment nevermind an interview.
I'll definitely be around at the weekends though. I am going to need to cover some expenses from trading anyway.
If I had to go round the agencies I would have real trouble even getting an appointment nevermind an interview.
I'll definitely be around at the weekends though. I am going to need to cover some expenses from trading anyway.
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
Good luck mate for the future.
As I said recently to the Director of Key Accounts, the premium charge is killing the dream for many, if it hasn't already. In the long term the top earners will be able to carry on while the smaller winners are knocked out of the game.
Myself and Jimrobo et al are supposedly in such a small minority that it isn't really an issue. The key is to churn money through the markets was what I was basically told.
I am still to get back to him, I have just been too busy but hopefully will get chance this weekend. When I do I will do a write up detailing the conversation in general terms.
But to summarise nothing is going to change re. The Premium Charge for the foreseeable IMO. They seem to think it isn't detrimental to Betfair and is fully justified.
So I would urge all users who don't make mega money to have your exit plan in place. It is pointless sitting there hoping things will change soon, as the world will be moving on around you. Have a read of Who Moved My Chesse, someone recommended it on here a while back and I read it on the weekend, it is very apt for the situation with the PC.
Finally, Jimrobo, you have decided against financial trading it seems? May I ask why?
All the best for Monday I suspect you will relish the change and being back amongst your old team and friends. Just keep in mind that things will have changed since you were working there last.
Good luck! Enjoy! And remember life isn't all about money!
As I said recently to the Director of Key Accounts, the premium charge is killing the dream for many, if it hasn't already. In the long term the top earners will be able to carry on while the smaller winners are knocked out of the game.
Myself and Jimrobo et al are supposedly in such a small minority that it isn't really an issue. The key is to churn money through the markets was what I was basically told.
I am still to get back to him, I have just been too busy but hopefully will get chance this weekend. When I do I will do a write up detailing the conversation in general terms.
But to summarise nothing is going to change re. The Premium Charge for the foreseeable IMO. They seem to think it isn't detrimental to Betfair and is fully justified.
So I would urge all users who don't make mega money to have your exit plan in place. It is pointless sitting there hoping things will change soon, as the world will be moving on around you. Have a read of Who Moved My Chesse, someone recommended it on here a while back and I read it on the weekend, it is very apt for the situation with the PC.
Finally, Jimrobo, you have decided against financial trading it seems? May I ask why?
All the best for Monday I suspect you will relish the change and being back amongst your old team and friends. Just keep in mind that things will have changed since you were working there last.
Good luck! Enjoy! And remember life isn't all about money!
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
Good luck Jim. Use the independance you learnt from BF to move forward.
I went into the financials fairly extensively as you know, I was actually doing ok but I came to the conclusion fairly ear;y that in order to do it solely and make a good living off it the odds are completely stacked against you. You are against people far more intelligent than you, people with more access to news and faster feeds. They can get their money in and out of the market before you;ve even seen a price refresh and they have enough in their account to swallow you whole several time over without even noticing you in the pond. i will probably trade the first hour or so going forward in the mornings before I go into the office. Theres a decent window of opportunity of about 30 minutes where I can scalp the price action after the market open. I would rather be doing this with no pressure rather than having to make money from it owing to the reasons above. The financials are really for the big boys. if you are any good you need to be working for someone with a lot of money behind them. I did actually have an offer to help get me sorted with something in the trading arena from a friend who trades gold for hsbc but it would have meant a move to london and I wasn't massively up for that.
I have a few things on the side I can do apart from working in the office. I am ok with websites, I have a bit of a library of my trading I've been recording for a while I may throw up somewhere and I get involved quite a lot with fitness type stuff so maybe I will take my personal training qualifications and take the odd client on over the weekends and evenings. At this point in time I'd rather be comfortable and employable and have a good work life balance than trade every hour for a medium/better salary and be stuck in it whatever happens. Ultimately that can only last until you hit the 60% wall anyway.
I have a few things on the side I can do apart from working in the office. I am ok with websites, I have a bit of a library of my trading I've been recording for a while I may throw up somewhere and I get involved quite a lot with fitness type stuff so maybe I will take my personal training qualifications and take the odd client on over the weekends and evenings. At this point in time I'd rather be comfortable and employable and have a good work life balance than trade every hour for a medium/better salary and be stuck in it whatever happens. Ultimately that can only last until you hit the 60% wall anyway.
I thought about having a play around with that!
I have a few excel ideas I have been thinking about recently but I never figured on having to code them up so quickly! Its definitely an option though I reckon there's a handful of strategies I could maybe run on auto. In theory anyway!
I have a few excel ideas I have been thinking about recently but I never figured on having to code them up so quickly! Its definitely an option though I reckon there's a handful of strategies I could maybe run on auto. In theory anyway!
Good luck mate
You never know, you may find that your trading gets better as you're not as dependant on it.
The automation side of things is def worth looking in to. Ive been in London last night/today and just got back to Manchester. I left mine running on auto all day. (Apart from it missing Lingfield as they were delayed, all went well). Ill leave it running on kemp tonight whilst we go to the cinema, for me its the single best feature of Betangel.
IMO, I would suggest that you use the Excel rather than via Guardian as its much more flexible. Start with a very simple spreadsheet (lots of safety nets!) and then build it out slowly.
You never know, you may find that your trading gets better as you're not as dependant on it.
The automation side of things is def worth looking in to. Ive been in London last night/today and just got back to Manchester. I left mine running on auto all day. (Apart from it missing Lingfield as they were delayed, all went well). Ill leave it running on kemp tonight whilst we go to the cinema, for me its the single best feature of Betangel.
IMO, I would suggest that you use the Excel rather than via Guardian as its much more flexible. Start with a very simple spreadsheet (lots of safety nets!) and then build it out slowly.
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CaerMyrddin
- Posts: 1271
- Joined: Mon Sep 07, 2009 10:47 am
Good luck jimrobo, wish the best in your new (old) adventure.
cheers guys!
I agree with andy I don;t believe anything will happen in the very near future re the premium charge although i am aware that at least they are now asking certain people questions which shows they are either concerned at where the markets are going or they have already gone somewhere unexpected.....Of course this isn;t exactly news to the people who are in the markets day in day out!
I agree with andy I don;t believe anything will happen in the very near future re the premium charge although i am aware that at least they are now asking certain people questions which shows they are either concerned at where the markets are going or they have already gone somewhere unexpected.....Of course this isn;t exactly news to the people who are in the markets day in day out!