Monday, 14 June 2010

to bet or not to bet?

Overall I'm happy to say that my betting exercise has gone relatively well, and it is much clearer which aspects will be repeated while others left out next season.

With the MLB performing so poorly I have decided to withdraw placing wagers and paper trade the rest of the season. It really is like no other sport I've gotten involved in with the results almost being completely random, a bookmaker's dream I'm sure. All the major football seasons are of course over, with the World Cup in full flow, there are only a few scattered leagues that I know little about - so the betting there has also finished. And of course with the NBA currently playing out the final, that season is pretty much over too. The playoffs were in comparison to the regular season a definite no-no for me next time - being much harder to predict particualrly with my style of spread betting. The next venture in the betting world will be with the NFL which I am looking forward to, but of course doesn't start until September. With that in mind the spread betting will need to be put on hold until the events I'm interested in start again.

I would also like to add my biggest respect to any punters who make a living from this. In many respects the thought and analysis that goes into a well executed and profitable betting system rivals that of trading. Some would probably even argue it requires a more organised and disciplined approach, particularly when comparing it to some intuitive trading styles. The margins for profits are tight, add to that a little variance and your clear astute can become rather clouded. At least with trading you can point the finger at your own performance whilst reflecting over a negative P&L!

Trading places 
In my absence from trading I have had time to reflect and formulate some new ideas which I feel warrant a trial. Whilst blogging my progress I have found the emails and comments helpful, and some even inspirational in regards to pushing myself further if I was to ever give trading another go. Looking over my records I wasn't actually doing too badly, and my biggest problem on my last visit to these markets was mainly motivational. This time round I aim to trade one/two full days a week, leaving me with most of my time to focus elsewhere. I am still finishing some analysis but it is looking good so far and I will be implementing some of these ideas soon. This time it will be a more systematic approach, and I will of course be blogging my progress here as usual. At the moment it is looking like starting towards the end of July - perhaps a bit sooner if I finish early. Gives me just about enough time to recover form England's glorious World Cup victory!!  Not?
Completely free Betfair trading software..

Other software I have found useful so fa..

Soccer Mystic - Betfair trading software