Loss to Profit and How?

[Kai]

I am in awe: you have the patience of saints casting pearls before swine.

People would probably have less patience if private conversations went along those lines, but as this is a public forum where discussions are public then it makes a bit more sense to have more patience, because there are always plenty of lurking newbies around of all sorts (including more experienced traders) who can probably appreciate those posts and still find them helpful.

The hard part for me personally is staying serious, because such threads have endless meme potential but it would be way too easy to make fun of people, no matter how much they deserve it

[JustLukeYou]

I am in awe: you have the patience of saints casting pearls before swine.

People would probably have less patience if private conversations went along those lines, but as this is a public forum where discussions are public then it makes a bit more sense to have more patience, because there are always plenty of lurking newbies around of all sorts (including more experienced traders) who can probably appreciate those posts and still find them helpful.

The hard part for me personally is staying serious, because such threads have endless meme potential but it would be way too easy to make fun of people, no matter how much they deserve it

Just watched a webinar by SportsTradingLife. Found it very interesting. Discussing more detail about watching a live match.

Kai, have you looked into STL? If so how would you improve the processes he teaches?

[Kai]

Just watched a webinar by SportsTradingLife. Found it very interesting. Discussing more detail about watching a live match.

Kai, have you looked into STL? If so how would you improve the processes he teaches?

You can use the forum search like I've said, it been been discussed in previous threads. You can find my opinion about STL here : viewtopic.php?p=184710#p184710

It may be a harsh opinion but the people that run these types of websites are in the business of selling clicks, likes, strategies, courses etc. They're saying things that people like yourself want to hear, but they usually have zero credibility and many aren't genuine traders. That's why I always preferred to learn from people with actual credibility like Peter Webb, Paulo Rebelo, Psychoff and others. If you really want to spend a few hundred pounds there on a basic football strategy called The Ticking Time Bomb or whatever it's called, then go right ahead, but don't be surprised if your bank blows up, and not in a good way.

[JustLukeYou]

Yes, I can see that he knows what he is talking about and he has interview Psychoff but the webinar was to promote his course but he doesn't say how much his course is. That is a turn off for me.

You talk about xG. Do you use that? I found a site that compares the xG of Premier League and some are very accurate whilst others are way off.

Do you also watch the game live?

[Kai]

How old are you Luke btw? I'm sure people are curious, it would be fair to answer such a simple question after all the questions you've asked

You talk about xG. Do you use that? I found a site that compares the xG of Premier League and some are very accurate whilst others are way off.

Do you also watch the game live?

It doesn't matter to you what I use and how I trade, feel free to use whatever helps you read the match and the market (2 different things btw) easier and better. The core concepts might be the same, but there's no one universal way to trade a football match. I have no real interest in discussing my own trading approaches in great details, have nothing to gain from doing it and much to potentially lose, plus I don't even have the freedom to do so. People have pointed you in the right directions so you can't ask for more than that, just look for those with a proven track record that have been in the trading business since early days, but just because you've read something doesn't mean that you understand it. Skimming is a terrible habit and will bite you in the a** long term, that is a guarantee. It may take years until you truly understand something, and understanding it is just the first step btw, the real work starts after that. You need to be capable and skilled enough to actually apply this knowledge yourself, because knowledge is only potential power and completely worthless to you if you can't use any of it.

The reason why I asked for your age is because there is no instant gratification in trading, it's a long term project and only the most serious, determined and capable people can actually make it. If you think that you have those qualities then give it a shot, best of luck

[Euler]

The reason why I asked for your age is because there is no instant gratification in trading, it's a long term project and only the most serious, determined and capable people can actually make it. If you think that you have those qualities then give it a shot, best of luck

Amen

Luke, no disrespect, but you have fallen for every video, book and bit of bluff and bluster out there so far. Nearly all the stuff you have seen pushed to you is probably there to get you to part with a few quid into the pocket of people who have never traded or who are reliant on selling stuff about trading to make a living.

There is plenty of really good advice on the forum, you just need to listen to it.

Go back to basics and build from there. There are no shortcuts. Unless you want to part with £50 then I know the best trading guide ever

[ShaunWhite]

The problem is no way can explain how Barry is finding value.

Welcome the world of "The Edge".
Sports markets are very small, you have seen the amounts available. If people say exactly what they do, only that fastest will get the limited money. If 'value' was widely known to be say 6.0 in a given situation, you will never get it because someone with a huge bank will always get it before you, in less than 10ms, all day long.

This is why trading is a puzzle you solve yourself, nobody ever anywhere will just give you their edge, or they risk losing it themselves. But the good news is that markets are so complex, there are always places you can find your own edge. And as you have seen, there are lots of places that give you a clue about where to start looking and how to see if an idea works.

Does this explain why you can't find anywhere that says A+B=Profit ? Everything you see will have 1 important thing missing, and that's where you come in. If you had an edge that made £50k a year, how much would you sell it for, if it risked your own return going to zero? And being cynical, if you could just buy an edge in Secrets of Trading Vol 1, they wouldn't sell many copies of Secrets of Trading Vol 2, well they would but ykwim.

A strategy will say to back this, lay that, pat your head and rub your tummy or whatever, and everyone and his dog has got one to tell you about.
An edge will tell you when to do that, and at what prices and that's where the secrecy comes in.

[ShaunWhite]

Unless you want to part with £50 then I know the best trading guide ever

I bet that made a few people sit up and pay attention.

The message Luke is that you can't buy a carrot, but you can buy a shorter stick.

[Euler]

I'm curious that people can't see through the thin veneer of the pushers. I squirm when I see it, it makes me realise it's really unlikely that the industry will ever get any credibility as people seem to struggle to separate fact from fiction. But I guess that's half the reason we all exist anyhow?

[Kai]

Fiction will always sound more appealing I guess, the strategy of selling fiction is a profitable one after all, so not surprised that many try to use it. But I honestly forget that they exist most of the time. In a wicked way they help push a bit of liquidity to our exchange and probably some fat finger spikes as well, so there's that at least.

[Derek27]

I've heard a police detective who investigated the Nigerian scammers say, it's not people's gullibility that makes them fall for it, but their sheer greed. The excitement of gaining millions to set you up for life overpowers common sense. Fear of missing out probably plays a part as well.

Trading is a new concept that many people don't understand and it doesn't look too difficult at first glance.

[JustLukeYou]

The problem is no way can explain how Barry is finding value.

Welcome the world of "The Edge".
Sports markets are very small, you have seen the amounts available. If people say exactly what they do, only that fastest will get the limited money. If 'value' was widely known to be say 6.0 in a given situation, you will never get it because someone with a huge bank will always get it before you, in less than 10ms, all day long.

This is why trading is a puzzle you solve yourself, nobody ever anywhere will just give you their edge, or they risk losing it themselves. But the good news is that markets are so complex, there are always places you can find your own edge. And as you have seen, there are lots of places that give you a clue about where to start looking and how to see if an idea works.

Does this explain why you can't find anywhere that says A+B=Profit ? Everything you see will have 1 important thing missing, and that's where you come in. If you had an edge that made £50k a year, how much would you sell it for, if it risked your own return going to zero? And being cynical, if you could just buy an edge in Secrets of Trading Vol 1, they wouldn't sell many copies of Secrets of Trading Vol 2, well they would but ykwim.

A strategy will say to back this, lay that, pat your head and rub your tummy or whatever, and everyone and his dog has got one to tell you about.
An edge will tell you when to do that, and at what prices and that's where the secrecy comes in.

So can an edge be the ability to do quality research and watch matches live. It is reported that Psychoff does no research however Paulo Rebelo says he focuses on Spanish leagues and will watch as many games as possible even if they are recorded so he can understand how teams operate. For example, do Atletico Madrid park the bus at 2-0 whilst Barcelona press for more goals.

It's as if one person does one thing and one person does the opposite which makes it sound easy. For example, if you are to laxy to do research you can make a profit. If you are feeling motivated and research every detail of a team you can also make a profit.

Last night I checked Portugal v Ukraine on SofaScore and I could tell from the attacking possession that Portugal would score and they did. If I backed it I could have made the same amount of money in 2 minutes compared to 130 minutes researching the match and watching it.

[weemac]

Last night I checked Portugal v Ukraine on SofaScore and I could tell from the attacking possession that Portugal would score and they did.

Just keep doing that.

[JustLukeYou]

Last night I checked Portugal v Ukraine on SofaScore and I could tell from the attacking possession that Portugal would score and they did.

Just keep doing that.

But Psychoff and Paulo Rebelo watch the matches.

[weemac]

Do that then.