Is This Bank Idea Completely Wrong?

[JustLukeYou]

Did you take any specific courses. I am looking to learn the specific elements of what make a successful football trader.

One video said that you should only focus on a specific league and only when you watch the match live but that means you can only trade a few times a week.

[Kai]

Did you take any specific courses.

For football? Only Portuguese ones, don't think English ones exist to be perfectly honest.

I am looking to learn the specific elements of what make a successful football trader.

Which specific elements? Have you identified them? Being a successful football trader is a wide term, many different ways to trade the markets so obviously many ways to find success.

One video said that you should only focus on a specific league and only when you watch the match live but that means you can only trade a few times a week.

Obviously in the context of the strategy and approach they were showcasing/promoting/selling, surely not as a general rule of thumb.

[JustLukeYou]

I am looking to learn the specific elements of what make a successful football trader.

Which specific elements? Have you identified them? Being a successful football trader is a wide term, many different ways to trade the markets so obviously many ways to find success.

[/quote=Kai post_id=200964 time=1570796705 user_id=14020]


All the specific elements needed to be a successful trader. For example, do you always do research. Being the international break it is hard to get reliable research data.

[Kafkaesque]

I personally think that's a flawed concept to begin with, thinking that you need to be good with your predictions in order to profit. That's probably one of the main stumbling blocks for the majority of people, if you're trying to trade then why think like a gambler? Makes no sense, you have to think like a trader. Read the situation in the game, frame your trade, define your risk/reward, work out your own price for something to happen and compare it to the price on offer, patiently wait and scan the markets for good opportunities etc. If you posses the above skills then you don't care how good your "predictions" are, they can be very average and you'll still be in profit. The only concept that matters is the concept of +EV, your job as a trader is to just fill in the details and find the situations that give +EV in the long term.

I probably explained it better here, hopefully that makes sense : viewtopic.php?p=198768#p198768

Don't mean to be pedantic. I'm just wondering, since you usually have interesting points of view...how do you consider the highlighted part any different from what a gambler does? A good one, of course, who knows what he's doing. Not your average joe gambler who fancies Man United to win and will take whatever price is on offer.

I get that for horses and some forms of trading within other sports is more about reading price movements, but what you describe and what I find the most useful in football trading is very akin to gambling. Just has a better and more efficient method for handling risk/reward.

Did you take any specific courses.

For football? Only Portuguese ones, don't think English ones exist to be perfectly honest.

Portuguese? And living in Croatia? What sort of hybrid are you exactly

[Kai]

All the specific elements needed to be a successful trader. For example, do you always do research. Being the international break it is hard to get reliable research data.

You still haven't mentioned which specific elements you consider essential for success Make sure you know what they are so that you can know what to practice, otherwise you risk not practicing anything. If by research data you mean stats then no, if I closely follow the teams that I usually trade then no real research is really necessary. If you trade obscure leagues or teams then you may need a bit of context, although the good traders that I'm aware of that regularly trade those don't really research anything, they just show up at a market and try to figure out what's happening on the spot. They just look at the numbers and the prices instead of team names, there's a clear difference between the two.

I personally think that's a flawed concept to begin with, thinking that you need to be good with your predictions in order to profit. That's probably one of the main stumbling blocks for the majority of people, if you're trying to trade then why think like a gambler? Makes no sense, you have to think like a trader. Read the situation in the game, frame your trade, define your risk/reward, work out your own price for something to happen and compare it to the price on offer, patiently wait and scan the markets for good opportunities etc. If you posses the above skills then you don't care how good your "predictions" are, they can be very average and you'll still be in profit. The only concept that matters is the concept of +EV, your job as a trader is to just fill in the details and find the situations that give +EV in the long term.

I probably explained it better here, hopefully that makes sense : viewtopic.php?p=198768#p198768

Don't mean to be pedantic. I'm just wondering, since you usually have interesting points of view...how do you consider the highlighted part any different from what a gambler does? A good one, of course, who knows what he's doing. Not your average joe gambler who fancies Man United to win and will take whatever price is on offer.

I get that for horses and some forms of trading within other sports is more about reading price movements, but what you describe and what I find the most useful in football trading is very akin to gambling. Just has a better and more efficient method for handling risk/reward.

That's a good question actually, because it may sound a bit like I'm contradicting myself there. Not looking to create discussions about semantics and terminology, but there is a clear difference for me. I feel it really is true that in order to be the perfect football trader you need the best of both worlds, I've heard this before from top top traders, that you need both trading skills and betting/punting/gambling skills to really get the most out of inplay markets, you need to be a hybrid if you will. The difference for me in this context is that the gambler depends on the outcome and on the result, he has to be right in order to profit and obviously lacks the flexibility in terms of changing his mind according to circumstances and the managing of his positions. While the trader obviously doesn't have to get everything right in order to profit, he can be partially or temporarily right to complete a trade and lock in a profit, he can change his mind and positions as many times as he likes, and can also look for different types of angles that are far beyond the reach of a simple gambler.

If you're looking for an example (of a potentially perfect football trader) then look at Psychoff and his 2 contrasting approaches to trading football, to just trading the unders even, he is able to get 4 figure results from both scalping the unders on the ladder itself or from chasing a goal on them like a gambler would when the price seems good value, if he possesses both skills why not use them in conjunction? You could make a case that trading inplay football is just an advanced form of gambling and you probably wouldn't be wrong. The fact that football markets have such incredible volume even before they kick off means that there's also a 3rd dimension to these markets based entirely on speculation much like prerace, so you're free to approach them however you like.