Sports Trading: the £20 challenge

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Old Jun 19, 2011, 10:25pm   #16
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Re: Sports Trading: the £20 challenge

hahaha
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Old Jun 19, 2011, 10:29pm   #17
 
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Re: Sports Trading: the £20 challenge

shadowninja started this thread I googled "ona" for an image but found now so thought, "Aha! Oona!"
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Old Jun 19, 2011, 11:35pm   #18
 
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Re: Sports Trading: the £20 challenge

shadowninja started this thread Opening Balance: £57.36

Well, nothing exciting. Just did more of the same. Tried a bit of in-game tennis. That was a waste of time/money (46p to be precise)... need to know what's going on in the game blow by blow, really. With football, you only need to know when a goal or red card happens.

I am surprised there are still a fair few football games being played given that football season is officially over. Various Japanese, Russian, Scandinavian and South American games seem to still be played plus other friendlies... and there's still quite a bit of liquidity.

Oh, the balance is amusing. I checked twice.

Total P&L: £42.64
Current Balance: £100
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Old Jul 11, 2011, 1:50am   #19
 
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Re: Sports Trading: the £20 challenge

shadowninja started this thread Opening Balance: £100

Well, the markets are getting illiquid (apart from the various world cups - U17, women's) and there are generally less games as it's out of season, so I've been experimenting with other strategies which come from staring at the charts a lot, to try to maximise opportunities. I seem to have improved upon my original strategy although it did mean I took a £16 and an £11 loss along the way (top tip: don't lay the favourite or trade ultra thin markets! Obvious cat is obvious, I suppose.). Could have been bigger losses but I reduced my risk while checking my improvements were indeed improvements - was doing £60 stakes but reduced it to £20 then slowly increased to £30; will continue to increase back to £60 over the next couple of weeks and maybe carry it beyond providing there is enough liquidity.

Got bored of doing horses as it goes from being too slow to trade to too manic. I'm still "up" but really don't feel comfortable. Tried in-play tennis and decided that it's too much without having very up-to-date knowledge of what is going on... I'll let the pros keep my £3.

So I've decided to stick to trading football markets, in-play and during half time. Very rarely, I may do a pre-game trade if I spot something.

Total P&L: £29.64
Current Balance: £129.64
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Old Jul 11, 2011, 2:55pm   #20
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Re: Sports Trading: the £20 challenge

Very interesting thread for me since I enjoy sports quite a bit... good luck to you with! Cheers!
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Old Jul 24, 2011, 11:00pm   #21
 
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Re: Sports Trading: the £20 challenge

shadowninja started this thread Thanks for the kind comments.

The peculiar thing is that I neither enjoy it (but it beats sitting in front of the TV - it is intellectually stimulating in that you have to analyse carefully before taking a trade) nor find football that interesting (except when EN-GER-LAND are playing). It may be this attitude that means I haven't done badly.
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Old Jul 24, 2011, 11:15pm   #22
 
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Re: Sports Trading: the £20 challenge

shadowninja started this thread Opening Balance: £129.64

This week has been mildly annoying. I took one hit due to the low liquidity meaning I couldn't get out of a trade quickly enough and one hit due to bad luck so spent three or four days making back my losses. I guess it's the way things are. It's sometimes tricky to judge when the liquidity will dry up during a game where there isn't much liquidity in the first place but once the season starts again, things will be better.

Anyway, since my last report, I've made £54.49 having traded 80 games, comprising 657 bets and 1217 cancelled bets. I'll trade most matches if I see an opportunity and the liquidity is there - international friendlies, Women's world cup, Under 17s, J-league, Bundesliga... When it comes down to it, I just have to keep churning the money out and expect the occasional loss. I've proven that I can do it. Am currently doing £50 bets. And will probably step it up next month.

Note: next week is the last week of the 6 month £20 challenge that was started on PistonHeads.com back in February. I will continue to sports trade, though, as it's something to do when I'm not working, going out, training etc. As I see it, it's free money.

Total P&L: £54.49
Current Balance: £184.13
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Last edited by shadowninja; Jul 24, 2011 at 11:21pm.
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Old Jul 28, 2011, 12:00pm   #23
 
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Re: Sports Trading: the £20 challenge

Just in case your sports trading really starts to take off, did you hear about this:

http://www.guardian.co.uk/sport/2011...harge-increase

BTW I don't ussually read the Guardian.
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Old Jul 28, 2011, 12:21pm   #24
 
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Re: Sports Trading: the £20 challenge

Quote:
Originally Posted by China Diapers View Post
BTW I don't ussually read the Guardian.
Good to hear!
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Old Jul 31, 2011, 6:02pm   #25
 
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Re: Sports Trading: the £20 challenge

shadowninja started this thread
Quote:
Originally Posted by China Diapers View Post
Just in case your sports trading really starts to take off, did you hear about this:

http://www.guardian.co.uk/sport/2011...harge-increase

BTW I don't ussually read the Guardian.
Yeah, it's the number 1 topic on many sports trading forums - I don't know how it can make long term business sense for Betfair.
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Old Jul 31, 2011, 6:16pm   #26
 
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Re: Sports Trading: the £20 challenge

shadowninja started this thread Opening Balance: £184.13

Well, today is the last day of the Pistonheads £20 Challenge and I don't think there are any games I want to trade tonight. It's been a fairly straight-forward week with a couple of scares as the market suspended mid-trade but it was for injuries and such so no impact on my profit.

It's been both an adventure and an intellectual challenge, going from outright betting based on statistics and team research to pure trading, across several markets (match odds, under/over x.5 goals, total goals, to be placed etc) and several sports (horse racing, greyhound racing, tennis and football) as I tried to find one that worked for me. I estimate that I've taken over 8,000 bets in the six months.

Interestingly, it certainly looks like I have got this sports trading lark nailed and it could be a nice source of beer money and maybe a side income. I am trying to figure out ways of increasing profitability - in any given game, I am only taking a handful of ticks (what I consider the obvious ones) and I can see there is plenty more available from the price movement as traders go in and out. However, I know that I can continue to churn it and take my money, which I will do as it's like free money sitting on the table ('scuse the pun).

So, how did I do this week, and more importantly, what did my £20 turn into in the end?

*drum roll*







Total P&L: £56.15
Final Balance: £240.28
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Old Jul 31, 2011, 9:57pm   #27
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Re: Sports Trading: the £20 challenge

Hey Shadowninja.
I think that's pretty neat.
So your basically trading the order bnook much like one would when trading a futures contract from the DOM for example?
I find it all quite interesting, but honestly wouldn't know where to start. Do you just need a betfair account and that's it? Or do you also have other software?
Do you plan on explaining the 'trading' process a little more at some point, especially for people like me who really have no experience whatsoever with this type of 'betting'?
Would be quite well receieved i imagine.
All of my 'betting' so far has just been on FX etc. I always looking for other way to risk my money
cheers
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Old Jul 31, 2011, 10:23pm   #28
 
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Re: Sports Trading: the £20 challenge

shadowninja started this thread Yes, I'll find a video that shows the kind of thing I do.

I use A Geek's Toy (free) which connects to the Betfair exchange. PM me if you want a free £25 bet as I have a code you can apply with.
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Old Jul 31, 2011, 10:24pm   #29
 
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Re: Sports Trading: the £20 challenge

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As you can see, you get DOM with the odds and these odds move due to fundamental and technical reasons ie FA and TA. This is pre-race (horse racing), I think. I prefer to trade football as I already know the structure of the game. I also prefer to trade in-game but sometimes trade pre-kick off and during half time.
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Old Aug 1, 2011, 10:58am   #30
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Re: Sports Trading: the £20 challenge

Thanks, SN.
I was just thinking, it's never occured to me before, but is there a way to 'demo' this type of sports trading, like one would with a simulated account through a spreabet firm for example?
cheers
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