gambling and trading

[marko236]

Hi just going to try a new idea, is it possible to pick odds that over the long run would break you even? the idea i have is to pick odds on sports events which i think will break even but green out if the price falls which would give me a profit, to me this seems a better way of making a profit than just trading, would like to hear your views on this.

[Alpha322]

Hi just going to try a new idea, is it possible to pick odds that over the long run would break you even? the idea i have is to pick odds on sports events which i think will break even but green out if the price falls which would give me a profit, to me this seems a better way of making a profit than just trading, would like to hear your views on this.

Your question doesnt make any sense? Trading is a skill set and if you havnt got it or willing to learn it you will lose no matter the odds. Its lay low back high or vice versa, there are no tricks to make profits,the only trick to be in front of everybody else is to have an edge, and most of all knowing when to get out in profit or in loss. No trickery pure skill at reading the markets and taking a loss or profit, if the losses are much more or larger than the profits you are doing something very wrong

Good luck and watch plenty of video,s it certainly helped me

[L.o.S]

I think what you are talking about is big time loss chasing. Trading out when you have a profit, and betting when you would have to trade out for a loss. Ultimately you'll wind up losing much larger amounts than you gain (trading profits vs full stake losses). One or the other, either trade or bet outright but I wouldn't mix them.

[marko236]

Thanks for your replys, the thing is i'm good at breaking even when i gamble which gave me the idea off greening out when i can make a profit or letting the bet go if it doesn't green, i'v tryed just trading getting ok at it but it is very frustrating one day make profit next day lose that profit, just wondering if anyone has tryed my idea over a long period of time and if it has worked for them???

[LinusP]

Bad idea.

[jimrobo]

so you want to trade when it go's your way and gamble when it doesn';t??

You are minimising your profits and maximising your losses. You may as well just give me your money now it will save you a lot of trouble and stress.

[LeTiss]

so you want to trade when it go's your way and gamble when it doesn';t??

You are minimising your profits and maximising your losses. You may as well just give me your money now it will save you a lot of trouble and stress.

This pretty much sums it up perfectly

[Zapata]

Admire how you are thinking outside of the box.

[marko236]

Thanks for the last reply one good one just feel that it could be a good idea to go for odds that you feel are so good that over the long run should at least break you even and take a profit when you can green out.

[LeTiss]

When I first started out Marko, I had lots of ideas and strategies

Unfortunately, 99% were proven to be shit

My advice, is to try it for yourself, but not with your total bank - perhaps just do 5-10%.

Therefore, if you have a £500 bank, don't listen to us, try it with £25 stakes. Write down every transaction, and build yourself a picture as to whether it has any legs.

I'm grateful now for some of my trading cock ups - I learned more from them than I did the winners!

Eventually, the mist cleared and I was able to see a clear path

[marko236]

Thanks letiss, will take your advice as it looks like you'v done this for a long time. just can't help it when i see crazy odds high and low which i'm sure is due to traders, i'm gonna try and take avantage of this but i do go into the bet with trading highly in mind as this is where i feel i can make profit and as i'v said try to break even on the bets.

[Seymour]

Hi Marko,

Have to agree with Zapata. Think from as many different angles as you can. I have tried the break even concept. What I found was that when the price did drop, leaving me with a very small profit (unless I used large stakes),that I wasnt satisfied with the green up and preferred to let it go as a bet.
If you are going to trade focus on trading Try all other ideas as a sideline.

Jon

[Seymour]

Hi Marko,

Have to agree with Zapata. Think from as many different angles as you can. I have tried the break even concept. What I found was that when the price did drop, leaving me with a very small profit (unless I used large stakes),that I wasnt satisfied with the green up and preferred to let it go as a bet.
If you are going to trade focus on trading Try all other ideas as a sideline.

Jon

[marko236]

thanks seymour,

can see your point, gonna try it out on football where i'm good at betting, and keep trading on horses see if i can get better at trading

If anyones interested i will update how i'm getting on with the betting and trading idea, don't mind passing on ideas whether they work or not

[LeTiss]

The reason I said try it, as opposed to talking you out of it, is because to be successful in trading you need to make your own decisions, and be confident in what you're doing

If you just binned an idea everytime someone dismissed it, you won't learn anything mate

There's a very good chance it won't work, but you will have learned why, and it might inspire a new improved strategy that would never have crossed your mind, had you not seen the reasons for that failure unfold in front of your eyes

I took some big hits before I started making money, but if I just listened to others all the time without jumping into the deep end myself, I'd still be scratching around looking for inspiration