ok with all the doom and gloom and awful market conditions this week in the horse racing markets I thought I might give some of you guys some inspiration that there are other things we can do! I seem to be getting seriously hacked off with scratting around on the betfair markets for what seems like is getting smaller and smaller returns. Couple that with the fact that we are getting shafted with 60%. I thought I'd post something that give some guys food for thought.
OK so this is a quick trade I took on the financials today. As you can see I traded 1 contract. I got ~15 ticks and it took around 90 seconds to complete. This was not a fluke or a particularly great trade yet it netted me what I would probably spend most of the day (in these conditions if I am lucky) on a full afternoons horse racing. I actually got out early but if I'd left it I could have got around 35 ticks. Over twice the profit in another couple of minutes. The trade cost me 4 euros in fees.
For transparancy I will say it was on a sim account because I am trying to new way of trading and it is going to take a few weeks of getting used to so this isn't a bragging thread or anything like that. I just wanted to show for the crap we get off betfair and all the hard work we do to get squeezed at all ends there is an alternative for our skills and the rewards are tenfold what they are on betfair. I seem to be getting more and more disheartened with trading on betfair. Especially now I have seen what is possible in a professional trading environment thats regulated! And isn't likely to change the boundaries every year.
DISCUSS!!!!!
Financials....eye opener?
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
a thread from last year, add stuff in here?
Trading financials for a living
viewtopic.php?f=35&t=4487
Trading financials for a living
viewtopic.php?f=35&t=4487
I certainly never said it was easy!! It was just an example of the scale of what is possible.
Sports trading isn't easy!! Many people try it but get nowhere. All I meant to show was that if you are willing to put the work in I believe the skills we have already learnt as professional sports traders can be transferable to the financials.
NR what do you trade?
Sports trading isn't easy!! Many people try it but get nowhere. All I meant to show was that if you are willing to put the work in I believe the skills we have already learnt as professional sports traders can be transferable to the financials.
NR what do you trade?
I tried to trade short term on financials years ago, but gave up as I was useless at it. But since I've been on Betfair my skills as a trader have taught me I was doing it all wrong on the financials all those years ago, so I think it's perfect possible to transplant skills in both directions.
Apologies it was a bit of a fiesty entry. I have seen so many people lose so much by assuming so many things. I trade FX pairs and Dow Jones which is the best index for support and resistance imho. I also research and trade small cap oil companies, which at times is lunatic.
Good luck with the financials I am sure you will do well given time.
Peter I find the sports world massivly challenging and fun. If I crack horse racing I know I have arrived!
Good luck with the financials I am sure you will do well given time.
Peter I find the sports world massivly challenging and fun. If I crack horse racing I know I have arrived!
NR169 wrote:Apologies it was a bit of a fiesty entry. I have seen so many people lose so much by assuming so many things. I trade FX pairs and Dow Jones which is the best index for support and resistance imho. I also research and trade small cap oil companies, which at times is lunatic.
Good luck with the financials I am sure you will do well given time.
Peter I find the sports world massivly challenging and fun. If I crack horse racing I know I have arrived!
No worries!!
My post was never meant to say look at how easy trading financials is against sports! It was just an example of the scale involved. Most of us trading the horses will probably realistically hit ~200 in an average afternoon. To be able to easily manage that in a matter of minutes is just wow thats unbelievable to most of us and just to show that rather than sitting around complaining about how bad the markets are (which they are!!) there are alternatives for us to at least have a go at!
Sure its not easy....in any way at all. But neither is sports trading and most of us have had to sit and work for months and months for no return before we learned how to just breakeven. If we transfer those skills across and put the same effort in theres no reason why we can't go from sports to financials.
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spreadbetting
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
Thing is most of us are well aware if it's that easy to win £200 in a matter of minutes it's just a easy to lose £400 in the same time. Not knocking you, as I'm also looking into the financials as an out from Betfair, but simulated trades and real trades are completely different kettles of fish mentally once large sums of real money's involved.jimrobo wrote: My post was never meant to say look at how easy trading financials is against sports! It was just an example of the scale involved. Most of us trading the horses will probably realistically hit ~200 in an average afternoon. To be able to easily manage that in a matter of minutes is just wow thats unbelievable to most of us and just to show that rather than sitting around complaining about how bad the markets are (which they are!!) there are alternatives for us to at least have a go at!
spreadbetting wrote:Thing is most of us are well aware if it's that easy to win £200 in a matter of minutes it's just a easy to lose £400 in the same time. Not knocking you, as I'm also looking into the financials as an out from Betfair, but simulated trades and real trades are completely different kettles of fish mentally once large sums of real money's involved.jimrobo wrote: My post was never meant to say look at how easy trading financials is against sports! It was just an example of the scale involved. Most of us trading the horses will probably realistically hit ~200 in an average afternoon. To be able to easily manage that in a matter of minutes is just wow thats unbelievable to most of us and just to show that rather than sitting around complaining about how bad the markets are (which they are!!) there are alternatives for us to at least have a go at!
completely agree
A common mistake that sports traders make when they look at the financials is time frames. Sports events have beginings and ends. The day to day standard markets dont. So if I could offer one item of advice it is look at timeframes. Scalping is very hard day in day out. look at longer term trades off sound fundamentals. Example (and no I didnt get it all) DOW Jones found significant resistance in the 13275, 13330 area and sold off significantly over a number of days. This was a very good risk reward short opportunity. 200 pip stop looking for 400 pip return. It can be done.
A common mistake that sports traders make when they look at the financials is time frames. Sports events have beginings and ends. The day to day standard markets dont. So if I could offer one item of advice it is look at timeframes. Scalping is very hard day in day out. look at longer term trades off sound fundamentals. Example (and no I didnt get it all) DOW Jones found significant resistance in the 13275, 13330 area and sold off significantly over a number of days. This was a very good risk reward short opportunity. 200 pip stop looking for 400 pip return. It can be done.
The problem with sports traders is they are completely trained by default to trade short fast paced markets. Its what we do everyday 20-40 times a day.....everyday!! It becomes instinctual just reading the order flow. Thats the difference between coming at it from a financial background or a sports background. Going for the longer higher timeframe trades are completely alien to us.
Thats why picking the right markets to trade in the financials is important IMHO.
Thats why picking the right markets to trade in the financials is important IMHO.
completely agree. Thats why I think market choice becomes really important.
If you are a financial trader used to longer based timeframe trades you might want to try something like putting on longer term trades in the sports markets. ie going through the cards early in the mornings and trying to pick some trends to follow over the course of the morning that are managed by the software.
Similarly if you are a sports trader used to the fast paced order reading then maybe you might find yourself quite good at reading price action and trying some scalping in fast paced volatile markets.
If you are a financial trader used to longer based timeframe trades you might want to try something like putting on longer term trades in the sports markets. ie going through the cards early in the mornings and trying to pick some trends to follow over the course of the morning that are managed by the software.
Similarly if you are a sports trader used to the fast paced order reading then maybe you might find yourself quite good at reading price action and trying some scalping in fast paced volatile markets.