Excel/ sql
Probability and statistics
Knowledge of your sports
Anything else?
What knowledge does it take to become a good sports trader?
Imo need a good understanding of people and how people arrive at decisions, seeing as ultimately all bets are being placed by people (or bots set up by people)
General knowledge of how most humans want to act given certain conditions and the emotions that a string of wins/losses provokes. e.g. euphoria for wins anger/shame for losses.
I believe having an understanding of concepts like prospect theory and various cognitive biases can prove useful when looking at a series of trades and improving your own decision-making when actively trading.
General knowledge of how most humans want to act given certain conditions and the emotions that a string of wins/losses provokes. e.g. euphoria for wins anger/shame for losses.
I believe having an understanding of concepts like prospect theory and various cognitive biases can prove useful when looking at a series of trades and improving your own decision-making when actively trading.
More than your list, else I'd be comfortably retired 
Key things that spring to mind, in no particular order :
Risk and money management skills
Understanding market behaviour.
Discipline
Trading psychology - market and trader.
Sound and repeatable strategies
Knowledge of sports is an odd one for me as I am profitable in a sport that I know little about, because I understand how the market works, rather than the underlying sport. In other sports that I have a lot of knowledge, I consistently under perform..!
Key things that spring to mind, in no particular order :
Risk and money management skills
Understanding market behaviour.
Discipline
Trading psychology - market and trader.
Sound and repeatable strategies
Knowledge of sports is an odd one for me as I am profitable in a sport that I know little about, because I understand how the market works, rather than the underlying sport. In other sports that I have a lot of knowledge, I consistently under perform..!
I will add experience to this - real knowledge comes from doing the work yourself. And experience in terms of screen time helps so much in understanding how markets behave.
Everyone wants to succeed straight away and it's hard at the start to accept how long it actually will take.
Everyone wants to succeed straight away and it's hard at the start to accept how long it actually will take.
A good understanding of human nature.
A good understanding of when "experts" might be wrong.
Watch people back in "sure" things and then watch them poo their pants once the position drifts away from them. I'm willing to give away a strategy. (I can hear the howls that what I am about to say is obvious) - that each weekend I look at head to head games with a team under 1.45 and think about what would need to happen for them to jump out 20 ticks and where to cut out if the position goes the other way "as expected". You'd be surprised at how the position can quickly move out imho from the nerves that kick in from the "confident" backers. Pricing can be irrational.
A good understanding of when "experts" might be wrong.
Watch people back in "sure" things and then watch them poo their pants once the position drifts away from them. I'm willing to give away a strategy. (I can hear the howls that what I am about to say is obvious) - that each weekend I look at head to head games with a team under 1.45 and think about what would need to happen for them to jump out 20 ticks and where to cut out if the position goes the other way "as expected". You'd be surprised at how the position can quickly move out imho from the nerves that kick in from the "confident" backers. Pricing can be irrational.
An edge is a 'a quality or factor which gives superiority over close rivals" - the only statistic which definitively displays whether you have it is your account balance.
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spreadbetting
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- Joined: Sun Jan 31, 2010 8:06 pm
They might be useful skills to have if you're gambling but not sure you need any of them to trade successfully. Think it's more important to understand why and when money enters the markets and what effect it has on them rather than trying to figure out some kind of tissue in advance.
think that the following could help you at the begin 
1.understand the concept of value
2. learn basic maths
3. don't hope for big score
4. discipline yourself for a long term sensibility
5. keep a reasonable betting bankroll
6.build a broad bookmaker portfolio
7. keep records of your betting
1.understand the concept of value
2. learn basic maths
3. don't hope for big score
4. discipline yourself for a long term sensibility
5. keep a reasonable betting bankroll
6.build a broad bookmaker portfolio
7. keep records of your betting
