The BTC Football Trading Thread
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@lee-woodman Indeed, not sure why the stats has it for today.
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@ryan-carruthers The Porto game looks like it’s in tomorrow
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@lee-woodman Thats key, the one you stick to
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@ben-dobie I found the same with time, with 4 kids (aged between 6 and 10) most days it’s hard to find time to watch any! Plus I often work weekends. That’s why i prefer to get up early, update my results and set my plan for the day then after that I can do a lot on my phone on the go. I tried watching more games and reacting In play but it was hard to do it with focus so that’s why the stats-based approach suits me more. As said below, it’s finding what works for you. It’s often said that the best plan is the one you will stick to!
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@ben-dobie Exactly, I think there is more to success at trading than that of just the markets, picking a strategy - half of it is down to the environment. I'd say to all as well that I wouldn't want you locked in a room all day - I've seen through friends the impact that kind of behaviour its had on their life.
Trading is here to aid and give you freedoms you dont have with work etc.... sometimes its key to remember that.
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@ryan-carruthers I agree with all of this mate, I think I can generally read the flow of a game this just comes from watching so much over the years. My major issue at the minute is finding time to watch the games, so difficult to do this when you have a 3 year old who rightly wants your attention and obviously a wife who’s doesn’t want you stuck in a room upstairs all day. For this reason It m trying to go a little more stats based to see where it takes me. If I ever get to the promised land of full time then I think game reading along with good pre match stats would definitely be the way I go.
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I think Saturday is a tough day for traders perhaps because there's so much else you could be doing which can weigh on your mind, sometimes - maybe unconsciously.
There's also so much on as well.
Much reading - this one is one of the things traders always say either 'I can read a game' OR 'I can't read a game and no matter what I try I can't get it'
My response, Trading can be as complicated as you make it. So play to your strengths. How do you want to trade? Then work on getting better on that
Even in the stock world there are some who go data only and some who go on feel.PS this season is brutal, I mentioned it on the podcast. I don't think we have seen the end of the crazy results yet either.
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@lee-woodman Oh yeah mate I agree.
My point was more about how you make trading work for you.
I think its easy sometimes for traders especially football traders to sometimes get a bit fluffed by Saturday's for example.
Its not the end of the world if you can't trade on a Saturday. -
@james-woodroffe said in The BTC Football Trading Thread:
@lee-woodman exactly I like LCS also as compared to LTD for the simple reason that if my son needs my attention and an opportunity presents I can enter and if the goal comes then brilliant. Having said that the main reason why I moved to cricket and tennis was because of timezones and I could concentrate without having to juggle my responsibilities and therefore improve myself as a trader without the other noise around me. The key is how you make trading work for you and how best to utilise your strengths as a trader.
Id love to have more of a knowledge of cricket and/or tennis purely to potentially trade them one day. I dont know how possible itd be to start from scratch with no real understanding of a sport and go to potentially trading it successfully. I think knowledge of players and their styles is particularly important in these 2 sports, whereas in football i think you can get away with using a more stats-based approach, even though its a sport ive followed & played all of my life so a good level of understanding is there
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@lee-woodman exactly I like LCS also as compared to LTD for the simple reason that if my son needs my attention and an opportunity presents I can enter and if the goal comes then brilliant. Having said that the main reason why I moved to cricket and tennis was because of timezones and I could concentrate without having to juggle my responsibilities and therefore improve myself as a trader without the other noise around me. The key is how you make trading work for you and how best to utilise your strengths as a trader.
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@mark-gorton Hey Mark, welcome aboard mate and yeah I think you’re spot on. If you have the time you can work out what’s best for you, what your strengths are and how you can make it work best for you.
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A lot comes down to personal preference as to what to trade. For example, i realised i liked the simplicity of LCS so im simply looking for just one goal. I dont like LTD personally as i prefer set exits, which is why i LCS (ie no decision to be made regarding exit). I also know i have the absolute discipline to stick to my trading plan to the letter but conversely i find if i give myself a freedom to decide inplay then i find it harder. So knowing yourself and your style is a big factor in the strategy and method
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@james-woodroffe Yeah absolutely its no dig, we all trade loads to begin with....like a kid in a sweet shop with so much to choose from!
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@james-woodroffe Hi James, From reading the comments and advice, its good to know that there are people on the site that will throw stuff out there that isn't aimed at any one particular but resonates with a lot of us newbies. As for me I am 60 and have loads of time on my hands ( all my kids have moved on) but love the chance to learn something new. My time line for being profitable isn't that short so happy to try strategies as they become available but still agree that I need to limit myself to one or two so that I can identify if I am any good at this.
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@mark-gorton and that’s all good mate. Paper trade use minimum stakes. Maybe you can’t decide if for example you wanna focus on LTD’s or O1.5 for an example. Take the time what works best for you and perhaps also your lifestyle. Maybe you’re young? Maybe you have kids and sometimes life gets in the way maybe it’s easier to ignore the first half cause life is in the way and you don’t wanna risk missing your entry and exit points. As you spend more time working on what works best for you as will strategies as you move forward.
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@james-woodroffe said in The BTC Football Trading Thread:
@lee-woodman it’s no surprise that Ryan started by just doing LTD’s for however long before he then established his O1.5 strat. Keith has made it pro by also just doing LTD’s with the occasional O1.5 and Darri started also I believe with LTD’s before moving on. Martin also I believe. I couldn’t agree more mate I think and it’s no dig on the new guys but when you start you need 2-3 strategies and we all fall for it but the truth is as you pointed out for anyone new choose 1 and give it time.
100% agree, we all learn from our mistakes and it seems to come back to nail one strategy before moving on to another, just like you wouldn't trade more than one sport if you haven't nailed the strategy for the other sport.
I wish that when I started originally with UFT I stuck to just one strategy, not the suggested 3-4 strategies. ITs hard enough to learn 1 and get it right so how are people gonna do 2 or 3. Also if doing more than one strategy without nailing it, you're potentially over trading!!
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@mark gorton and @Lee-woodman agree with Marks sentiments and Lee your post really helpful. I'm running three/four filters which are variances of each other for the same strategy and intend to largely paper trade these till I've proved it to myself for good or bad .. and chosen a filter version which works. Biggest thing I am trying to sort out is my exit strategy at the moment.
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@lee-woodman it’s no surprise that Ryan started by just doing LTD’s for however long before he then established his O1.5 strat. Keith has made it pro by also just doing LTD’s with the occasional O1.5 and Darri started also I believe with LTD’s before moving on. Martin also I believe. I couldn’t agree more mate I think and it’s no dig on the new guys but when you start you need 2-3 strategies and we all fall for it but the truth is as you pointed out for anyone new choose 1 and give it time.
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@lee-woodman Hi Lee, I agree with everything you say in your post. As a newbie, I am blown away with the amount of information and strategies available on BTC and it hard to not be drawn into trying everything. The good thing is that the basic advice of paper trading or low stakes is invaluable in allowing me to test and adjust what to focus on. I am not there yet but the more I read on the forum the more I know I am not the only person having the same issue. I did lay the dog against City so thats a plus although not in my plan...
