If it helps do this.
See a commercial finance broker not a 'normal' mortgage broker, your personal circumstances are not relevant.
Get a buy to let mortgage with 25% deposit. Your 'rent' needs to cover 125% of the monthly mortgage payment. Be creative, think out side the box...
Trading on Betfair for a living
I am happy for your freedom and I too am grateful for the day when I can hand in my notice and not have others tell me what to do all day.marksmeets302 wrote:I am "on my own" now for 2 years, and by now the loneliness should have set in. It didn't. I am thankful every day that I now get to choose when and how to connect with others, instead of letting them dominate my agenda.
Working in kitchens and building sites my whole life though, I do find I miss the craic, hence the whatsapp group.... The offer stands!
The mortgage thing is a bit of a hassle. We had to use my wife's income which is much less than mine to get our first place, and even with some significant parental help the house we now own is probably only worth around half what we could have bought if they would allow my trading income.
The flip side of this of course is that we have nearly 50% equity in the house and rising as we had to put such a large deposit down. I think it's very unlikely I would have been ably to afford my place if I had taken a regular career path and even if I could chances are it would be a stretch and we would have had a tiny deposit.
We found a broker helpful in getting a mortgage. Basically I am a "homemaker" which meant our lender didn't even look at my bank statements while other banks would have done. This is where a broker comes in to tell you which checks different lenders perform.
The flip side of this of course is that we have nearly 50% equity in the house and rising as we had to put such a large deposit down. I think it's very unlikely I would have been ably to afford my place if I had taken a regular career path and even if I could chances are it would be a stretch and we would have had a tiny deposit.
We found a broker helpful in getting a mortgage. Basically I am a "homemaker" which meant our lender didn't even look at my bank statements while other banks would have done. This is where a broker comes in to tell you which checks different lenders perform.
Well, I am based in a country where housing is comparatively cheap compared to UK ( much less than half ! ) so saving money and buying it in cash is a more attractive option then making the banks richer .. Anyhow I lived in rental places all my life including my flat and office and never regret it, with the correct trader mindset that kind of security was never needed for me.. Maybe from now things could change If I`d like to establish a family etc.
Thank you fellas for the nice words in the previous pages. To be honest, I can`t give you too much of a hint as I don`t have any golden formula..I trade footie basketball tenis and horses( this is always a loss for me since I dont have the edge for it, just cant ignore the jumping ladders at all ! ) .
Stakes very from 100 to 2-3k depending on the market liquidity. %99 of the trading is in play and price based back to lay or lay to back transactions.. My monthly turnover is more than you can imagine as I have over 100.000 BF points,%80 reduction in charges ( which I pay back in PC)
To be a good motivator , I can share this if its not perceived as showing off, all you need is to put more effort in it!
Thank you fellas for the nice words in the previous pages. To be honest, I can`t give you too much of a hint as I don`t have any golden formula..I trade footie basketball tenis and horses( this is always a loss for me since I dont have the edge for it, just cant ignore the jumping ladders at all ! ) .
Stakes very from 100 to 2-3k depending on the market liquidity. %99 of the trading is in play and price based back to lay or lay to back transactions.. My monthly turnover is more than you can imagine as I have over 100.000 BF points,%80 reduction in charges ( which I pay back in PC)
To be a good motivator , I can share this if its not perceived as showing off, all you need is to put more effort in it!
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Awesome!! Thanks for that!3virgul14 wrote:Well, I am based in a country where housing is comparatively cheap compared to UK ( much less than half ! ) so saving money and buying it in cash is a more attractive option then making the banks richer .. Anyhow I lived in rental places all my life including my flat and office and never regret it, with the correct trader mindset that kind of security was never needed for me.. Maybe from now things could change If I`d like to establish a family etc.
Thank you fellas for the nice words in the previous pages. To be honest, I can`t give you too much of a hint as I don`t have any golden formula..I trade footie basketball tenis and horses( this is always a loss for me since I dont have the edge for it, just cant ignore the jumping ladders at all ! ) .
Stakes very from 100 to 2-3k depending on the market liquidity. %99 of the trading is in play and price based back to lay or lay to back transactions.. My monthly turnover is more than you can imagine as I have over 100.000 BF points,%80 reduction in charges ( which I pay back in PC)
To be a good motivator , I can share this if its not perceived as showing off, all you need is to put more effort in it!
Incredible work 3virgul14 Very Well Done3virgul14 wrote:Well, I am based in a country where housing is comparatively cheap compared to UK ( much less than half ! ) so saving money and buying it in cash is a more attractive option then making the banks richer .. Anyhow I lived in rental places all my life including my flat and office and never regret it, with the correct trader mindset that kind of security was never needed for me.. Maybe from now things could change If I`d like to establish a family etc.
Thank you fellas for the nice words in the previous pages. To be honest, I can`t give you too much of a hint as I don`t have any golden formula..I trade footie basketball tenis and horses( this is always a loss for me since I dont have the edge for it, just cant ignore the jumping ladders at all ! ) .
Stakes very from 100 to 2-3k depending on the market liquidity. %99 of the trading is in play and price based back to lay or lay to back transactions.. My monthly turnover is more than you can imagine as I have over 100.000 BF points,%80 reduction in charges ( which I pay back in PC)
To be a good motivator , I can share this if its not perceived as showing off, all you need is to put more effort in it!
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vankancisco
- Posts: 75
- Joined: Mon Dec 14, 2015 8:54 pm
As far as the mortgage issue goes, there's a school of thought that says you're better off renting than taking on the liability of a mortgage. Im not sure how this would work out in London, but I guess as a sports trader you preferably wouldn't be in London.
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Mr Undercover
- Posts: 226
- Joined: Thu Nov 03, 2011 7:22 pm
The question to my mind, and i really think Euler is best qualified to answer this - how viable is it for a newbie to learn to start trading (traditional swing trading on pre-live horses) and after acquiring a reasonable degree of skill sustain a consistent level of income over the long term.
I've just returned to trading as between jobs and certainly noticed the markets are much more difficult to predict and trade than they were circa 2011/12.
Euler - do you still feel it's possible for someone to average say $1,000 a day as once it was... aka Adam Heathcote style?
I'm not so sure anymore without taking substantially more risk, i find the markets much quicker and dynamic than they used to be, so find i'm having to be a lot more selective. This way i can make 100-300quid a day but to risk much larger amounts to improve profits will require a level of sophistication i'm not sure is within the grasp of most?
I've just returned to trading as between jobs and certainly noticed the markets are much more difficult to predict and trade than they were circa 2011/12.
Euler - do you still feel it's possible for someone to average say $1,000 a day as once it was... aka Adam Heathcote style?
I'm not so sure anymore without taking substantially more risk, i find the markets much quicker and dynamic than they used to be, so find i'm having to be a lot more selective. This way i can make 100-300quid a day but to risk much larger amounts to improve profits will require a level of sophistication i'm not sure is within the grasp of most?
Nice work V!3virgul14 wrote:Well, I am based in a country where housing is comparatively cheap compared to UK ( much less than half ! ) ...
I was looking back through this thread last night; its interesting how many very good traders (who excel in other sports) still find it hard to crack the Horse racing...Not sure why that is?
I'm in regular contact with 5 other full-time traders, and none of us trade Horse Racing. Every single one of us admits to having lost money on Racing, and decided to concentrate on other markets insteadPeterLe wrote: Nice work V!
I was looking back through this thread last night; its interesting how many very good traders (who excel in other sports) still find it hard to crack the Horse racing...Not sure why that is?
Why that is, I have no idea? - I've tried to find the answers to that question before
Interesting topic. I would say the introduction of more and more bots.
In my experience, trading the futures markets has become almost impossible for humans these days on the lower time frames i.e. less than five minute charts or using the price ladders. The reason being High Frequency Trading firms, predatory trading algorithms, etc.
A hypothetical example. Say someone watched The Badger's videos and thought to themselves, "Hmmm he's teaching traders to fade the highs and lows of the horses' ranges pre-race, using a two tick stop and a two tick target. How can I take advantage of that?" Well this person could then create a bot that heavily backed the market to drive it 3-4 ticks lower once it hit the bottom of its range, running the stops two ticks below and harvesting all that extra profit.
Just a theory, interested to hear what you guys think.
In my experience, trading the futures markets has become almost impossible for humans these days on the lower time frames i.e. less than five minute charts or using the price ladders. The reason being High Frequency Trading firms, predatory trading algorithms, etc.
A hypothetical example. Say someone watched The Badger's videos and thought to themselves, "Hmmm he's teaching traders to fade the highs and lows of the horses' ranges pre-race, using a two tick stop and a two tick target. How can I take advantage of that?" Well this person could then create a bot that heavily backed the market to drive it 3-4 ticks lower once it hit the bottom of its range, running the stops two ticks below and harvesting all that extra profit.
Just a theory, interested to hear what you guys think.
great work.PeterLe wrote:Nice work V!3virgul14 wrote:Well, I am based in a country where housing is comparatively cheap compared to UK ( much less than half ! ) ...
I was looking back through this thread last night; its interesting how many very good traders (who excel in other sports) still find it hard to crack the Horse racing...Not sure why that is?
The one single quote that stands out to me after 36 years of betting/trading on horses is the one proffered by Barney Curley, who, when interviewed by Luke Harvey on ATR and asked "How do you make this betting game pay?", replied:
"I know something no-one else does."
I think it's that simple, and why racing markets are hard to beat. There's a select group of individuals owning, training, caring for, and riding the creatures on which we're betting/trading. That gives them a quite stunning advantage, imo. How could you fail if you were an insider?
I'm not saying it can't be done - but I am saying that having people with real inside knowledge betting/trading/spoofing against you makes it a really tough nut to crack.
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vankancisco
- Posts: 75
- Joined: Mon Dec 14, 2015 8:54 pm
A long time ago I used to think that horse racing was fixed and there was a privileged few with inside info that were cleaning up all the money. As time went on and I began my own form study and analysis, I realised most of it is predictable and form actually works out. There's obviously many different conditions to factor in and you've got to work out if a horse has a feasible chance of winning a race - because that's when it will be primed to perform best. Attention to detail is a massive thing in horse racing and can immediately provide an edge, even though many people say there are no angles left to explore. I'd choose form study and analysis over inside info any day - one you are in complete control of and the other is a reliance on someone else.