IS KNOWLEDGE THE KEY?
We are getting some comments on trading so thank you Jeff & Paul for these and replies will appear after Sam takes them through the usual moderation process. I mentioned cold trading in an earlier post which generally means the trader has little knowledge on what he is trading as he is following or manipulating the general market trend in order to make his profit and whereas in most cases you do not need to know anything in particular about what you are trading but a little bit of knowledge can always be very useful. If you are a football fan for example and you know a lot about the teams and football in general then this is always a good starting point in deciding on your trades. That said though I personally have no enthusiasm with the game but ironically it is the sport that I generally make the most money trading and is probably down to constantly researching the likely form and odds that are on offer and it does seem to work almost like clockwork for most of the time.. I do not tend to push the envelope and only generally trade up to 20 minutes of the game which is usually well before the statistical likelyhood of the first goal being scored.. I always have a plan on how to get into the market, what I expect/want to get out of the market and finally and more importantly having a suitable stop loss in place just in case things don’t go my way. Having this plan from the get go and researching the trade I think is the key to longer term success. Football trading has many options and although it is not always necessary to watch it live when you are trading, it can help you decide on possible further trades as the game pans out and give you much more of an edge. A lot of the problem with trading is knowing when or where to get into the markets and if you have knowledge on how you anticipate an event to go you can often find a good opportunity which will enable you to enter the market confidently and sit it out until your trade is completed. Cricket, Tennis, Snooker, F1, Horses etc are all ripe for trading but the one thing I would say is steer away from trading on events that you have any emotional attachment as this can not only affect your judgement but can often take out the all important enjoyment factor remembering there are always plenty of trading opportunities to be had elsewhere.. On a final note I have mentioned the daily trading email service linked to the easytraderpro 2 that I am using to very good effect. The daily email has clear and researched trades on a variety of different sports with entry, exit and stop loss instructions and in my opinion is a snip even if you did only a dozen or so of the trades per month.. The service will soon change over to the A Sports Trader in December with an even better deal which I will keep you posted on but for any budding traders then pop over to easytraderpro2.co.uk and check out the past results and numerous free to access sports trading videos, questions answered etc etc..
