michael.smith
Newbie
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Don’t go to that direction, why betting on sport when you can make educated discussion when trading on the Forex market. In my opinion sport’s trading is just a gamble, I will never do that, on the Forex market you can start by learning how to trade Forex, you need to learn the fundamental of this great business. You can even trade on demo account for some time before you actually make your mind to trade on real account. Start with pure educational material of forex Automoney review, and get rolling from there.
Mr. Smith
Mr. Smith
I do not agree. Sports trading is not gambling. As in trading in the financial markets, sports trading also comprise of trend trading systems and value trading which is based on analysis of the matches in hand. Beginning sports trader can learn the fundamentals of sports trading by checking out the free educational resource of Tradenexis before deciding if i is worth your time.
A few interesting facts about working as a Sport Trader:
you can work at home using the internet or wherever in the world, where ....you have an internet connection.
you can work when and how you want, because sport events take place 7 ....days a week, 24 hours a day.
minimum cost of working this way - you only need a PC, professional trading ....software, a TV tuner with sport channels - although most sport events are ....now available on internet.
even amateur traders sticking to certain rules and proper discipline can earn ....a good salary
it’s not only a job but also good fun giving lots of satisfaction – you watch a ....sport event and make money at the same time
sport trading is not gambling, it works the same way as stock or
....currency markets but winning is definitely easier
Even if you have a good job, you can still learn how to be a sport trader. It will allow you to gain an additional source of income and protect yourself if you lost your job.
you can work at home using the internet or wherever in the world, where ....you have an internet connection.
you can work when and how you want, because sport events take place 7 ....days a week, 24 hours a day.
minimum cost of working this way - you only need a PC, professional trading ....software, a TV tuner with sport channels - although most sport events are ....now available on internet.
even amateur traders sticking to certain rules and proper discipline can earn ....a good salary
it’s not only a job but also good fun giving lots of satisfaction – you watch a ....sport event and make money at the same time
sport trading is not gambling, it works the same way as stock or
....currency markets but winning is definitely easier
Even if you have a good job, you can still learn how to be a sport trader. It will allow you to gain an additional source of income and protect yourself if you lost your job.
Lord Flasheart
Legendary member
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can you tell us more about what you do and give examples etc. Are you mainly talking arbitrage or do we have to research each event and form an opinion(thats gambling as such)
shadowninja
Legendary member
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Well, isn't fundamental analysis-based trading akin to "gambling" (nothing wrong with gambling; trading is gambling and you should know this), using that approach ie forming an opinion?
The difference is that statistically, using opinion (which presumably is based on things like form, venue, weather) you can get an idea of the likelihood of any given team winning. If you back or lay consistently at start price for any football match, theoretically, you will end up break even less commission. Statistics do show interesting things like 25% of goals are scored in injury time, however, this is reflected in the odds so you can't routinely back a goal being scored in the last minutes of each half - you will end up break even less commission over 1000 trades.Example sports trades:
1) Pre-game (football), work out direction of market, use technical indicators (same as per what we do inc trend lines) to trade for 5-10 pips.
2) Wait for an event eg a goal and scalp the market as it will always tend to move in a specific way due to its nature providing no more goals are scored eg the "back under 2.5 goals" market when 1 goal has been scored will always head downwards exponentially until another goal is scored. So we're talking about low scoring games here.
3) Back winning team at 85th minute, scalp for 5 pips; market always heads downwards to 1.00 unless the other team scores. I wouldn't do this on a 1-0 game (a draw would move the odds from 1.05 to 500 in the last minute of a game) but it might work for a 2-0 game providing both goals weren't scored early (if they were scored early then they'd be at 1.05 by the 70th minute and 1.01 by the 85th minute).
If you haven't figured it out yet, sports trading requires just as much patience, analysis and commitment to study as "trading" - you have to wait for the right games and the right set ups if you are to make money; you cannot take wild punts because you're bored; you have to get in when the opportunity presents itself because you could miss the boat which will skew your profits; you need to figure out which games are right for your trading method and which trading method is right for you.
I'm making pocket money trading Bundesliga games as I think I've identified a specific set of occurrences that leads to "value". I've recently concluded that it doesn't work with the Premiership, Ligue 1, Copa Del Rey, Seria A etc - because different traders trade those games... just like the stock market, each market has a different personality. So, yes, you need to choose a market that works with you and this means screen time. On a Saturday afternoon, I might have had 30 charts up, just watching for opportunities and getting a feel for how each market moves.
