Sports Trading: the £20 challenge

shadowninja said:
I suppose I could have carried on with that in-game system via a bot to remove the stress/anxiety as I've proven to myself that it is a winner but I don't have the technical ability.
Click to expand...

Hi shadowninja. I recently got interested in trading through Betfair and this comment of yours really picked my curiosity. I had in mind this idea of developing an automated trading bot too.. I'm pretty confident I have the technical ability, what I lack is the trading system. Maybe you would be interested in making a 'partnership' so we could develop a sofware system that works for the two of us? I know we don't know each other at all, but that could be changed.. Drop me a line if this sounds interesting to you at all!
 
Well, I scratched that new idea. The averages kicked in, if you see what I mean.

I'm now using a longer term system going for 15-20 ticks a time which seems to be working quite well over maybe 100 trades. Am trying to refine the rules for a "set up" that gets profit while keeping losses to a minimum.
 
Interestingly, my forays into sports trading has improved my financial trading. Oh, hang on, spank me for not towing the line that sports trading is just gambling for degenerates. :LOL:
 
Trading in-play at Betfair is a lot riskier than trading before the event's kick off. Although reward is also higher, I normally recommend against trading in-play before experimenting with fixed odds movements before the start of a horse race for example. Pre-game sports trading at horse racing simulates much more of a financial market like stock market. Imagine trading a market that breaking news is published every second (trading in-play horse racing) or never know when breaking news will be published (trading in-play football games - time of scoring a goal).

Tennis trading is much more advisable, especially during the first set.
 
hhaller said:
Hi shadowninja. I recently got interested in trading through Betfair and this comment of yours really picked my curiosity. I had in mind this idea of developing an automated trading bot too.. I'm pretty confident I have the technical ability, what I lack is the trading system. Maybe you would be interested in making a 'partnership' so we could develop a sofware system that works for the two of us? I know we don't know each other at all, but that could be changed.. Drop me a line if this sounds interesting to you at all!
Click to expand...

If you ever to create a bot make sure you include a liability trigger of some kind - there are some pretty infamous stories where traders have lost huge sums of money due to a bot going wrong.
 
China Diapers said:
Diversifying from the footy scalping :)
Click to expand...

Actually, no. I still prefer to trade football markets for the speed of action - not too fast, not too slow.

The point of using horsey markets is that action takes place far quicker and there's decent volume. There appears to be a heirarchy which is useful to gain experience and understand the life cycle of exchange markets:
1. dog racing - the market grows and dies in about 5 minutes (not much volume, though)
2. horse racing - the market lasts about 2 hours and builds up to rapid movement in the last 2-3 minutes pre-race then it goes kerazy for 1-6 minutes during the race
3. football/tennis/etc - the market can be opened about 2-3 days before the event and the event lasts as long as the match, movement can be crazy but is more sedate during.

So I chose horse racing to help newbies see how one can take advantage of opps and read the market in a relatively short video. Otherwise if I did it in football, it'd take all day. ;)
 
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