Hi Peter, I just joined the forum. Been following your videos on youtube. I find it extremely inspiring that you are able to profit from trading at home by yourself. I know how hard this is. I have a quick question; I would appreciate if you have a moment for me. I am debating whether to buy your product Bet Angel and also take your trading classes. However, I want to make sure it will serve my purpose. Could you please have a look at my background and guide me a bit?
In short: I have a PhD in a field of math (mostly focusing on probability and some statistics as well) and I have worked as a trader in a bank in London for quite a few years. My business line was mostly illiquid products so I can't say I have any experience making bid-ask spread in a flow market similar to Betfair exchange. And I am now working as a portfolio manager on the buy side. I use programming to analyse/test investment ideas for a living. I am comfortable with programming and statistics. I am not experienced/knowledgeable on making bid-ask in a flow market though. I am debating whether to set up a database at home, collect some data and test trading ideas as a hobby. Obviously I have a day job (that I like and dont want to quit) so Betfair trading won't be a full time endeavour for me. I am wondering if it is at all possible for a hobby trader to be profitable on the Betfair exchange. I took a look at the football markets a bit. Clearly there are large players making markets with deep pockets.I wonder whether the market is already competitive with professionals and profiting as a hobby trader is a bit unrealistic? Could someone like me realistically benefit from your trading classes and be able to turn some profit on Betfair? I would appreciate your thoughts.
ps. I am not worried about the psychological aspect of this as I would look to trade with small amounts and also I would look to automate the process rather than manually trade. Never been a quick on your feet kind of guy!
ps2. Great choice with "Euler" - the greatest mathematician of all time.
Quick question for Euler
Lonestar I think you will do very well if you can apply your knowledge in a pragmatic way. You will certainly be in the company of like minded people.
It would be interesting to get your views on this thread too in the New Year
viewtopic.php?f=2&t=12099
In fact, Ive just started to read a book by Deborah Rumsey who also teaches Statistics..So I may have a few questions!
After getting through the first few chapters there's a high probability with a low margin of error of that occurring!
It would be interesting to get your views on this thread too in the New Year
viewtopic.php?f=2&t=12099
In fact, Ive just started to read a book by Deborah Rumsey who also teaches Statistics..So I may have a few questions!
After getting through the first few chapters there's a high probability with a low margin of error of that occurring!
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
Look after your own position. Sometimes that can mean multiple positions in a market. Look for moves that move 50 ticks in play and understand why they do that and put some maths behind it. Remember, 1 tick is the same value in any market regardless of the 1000s you are seeing being matched. Look after yourself
