Sports to Financials SB

[davehell]

I am a newbie to this board, im after some advice regarding Financial Spread Betting.
I’ve been a reasonably successful Sports Spread better for the last two years, particularly
Trading Rugby League and Soccer in-running. I usually find profit in Selling when prices have been inflated for the benefit of buyers.
I’m thinking off making the dip into the financials, after a period of intensive study of course. What benefit will my Sports Spread betting be to be in the financial world?
Do the Financial spreads get priced up in a similar way to Sports Prices? I’m also told
You won’t have your account restricted or closed if you win regular as your dealer edges all bets.
Also can anyone recommend any decent knowledge source for me I have already made a start by reading “The Beginners Guide to Financial Spread Betting” By Michelle Baltazar
And “How to win at Financial Spread Betting” by Charles Vincent. These didn’t go deep enough for me especially with Technical Analysis, any recommendations Thanks in advance.

 

[cj12]

Im sorry to say you got a long way to go. its nothing like sport betting if you are making money like you said i would stay with what you know best. If you still want to go forward with trading. take around 2 years of study. I would not believe, how much there is to trading.

If you like pop in toT2W Trading Room chat on monday. I be trading live and i can answer some question for you in there.

http://www.trade2win.com/chat/

sun

 

[davehell]

Thanks for the answer, pretty much what I expected. I am under no illusion as to what hard work is to be put in and I’ve already made a start. The thing that attracts me to Financial Spread Betting is that the Financials seem more predictable than a Sports Event.
The thing I want to know is how does the Spread Firms Edge the Bets, as i am led to believe they never restrict or close accounts for anyone been too successful.
Thanks.

 

[Bigbusiness]

If you mean 'hedge' the bets. They don't hedge all the bets, as most of their customers lose and they make more money by not hedging. If they consider a hedge is necessary, they can use the futures or options. As futures have smaller spreads than their quotes, they can hedge and make a small profit from the spread.

 

[Spam Man]

i am led to believe they never restrict or close accounts for anyone been too successful.

Deal4Free made it impossible for me to trade after just a few months of consistent profitability. This was 2-3 years ago, so maybe they've changed their policy, but I doubt it. Maybe other spreadbet firms are different, but I doubt that also.

In retrospect I was pretty naive to think that I was ever going to earn a living at the bookie's expense. The switch to direct access was the obvious next step.

This isn't supposed to put you off. Spreadbetting is as good a way as any to make a start.

the Financials seem more predictable than a Sports Event.

No. But you don't need to make predictions anyway. You have a lot of work ahead of you.

Good luck.

 

[Anonymous]

in-running

If your in-running bets are similar to what's on Betfair and can consistently make profits in sports, it shouldn't be a problem with the transition from sports to financials. Actually it shouldn't be too much of a problem to make a transition from financials to sports, or trading both.

If you are using the most basic principles applicable to both forms of trading, the skill is universally applicable.

For example, if you know what are the relevant data to look at to derive the odds of a particular sporting event occurring, you should know what relevant data to look at to gauge the probability of an index reversing at what support or resistance.

If you use Betfair you can see many financial principles being applied there: arbitrage, options, leverage, risk-reward, market depth etc. Although not many will agree that the financials are applying sporting principles instead.

 

[Spam Man]

For example, if you know what are the relevant data to look at to derive the odds of a particular sporting event occurring, you should know what relevant data to look at to gauge the probability of an index reversing at what support or resistance.

This is hilarious. You are kidding, right?

 

[Anonymous]

Why should I be?

If someone is trading Hang Seng he would be looking at the market depth of the de facto Hang Seng contract provider. If someone is trading Dow he would be looking at the market depth of the de facto Dow contract provider. And not the market depth of any private company's own customers' orders.

If someone is trading spot currencies he should know spot currencies are not dominated by any Exchange, but are instead traded by banks worldwide.