Got a question from Ste:
"Hi Sammy, I have been reading your blog on tennis trading. I am a
student and have recently started to look towards trading, mainly
horseracing as I have a greater knowledge about that. Yet I see more and
more trading on tennis, would you be able to give me a few beginner
pointers? If you can that would be great, if not then its not problem.
Thanks!"
Hey Ste!
So this is a super broad question cause there is many aspects that you have to learn. But key in all sports trading is learning to read the markets.
You have to know from with in 1-2% margin where a odds will be if X or Y happens. If not its very hard to make any assumptions on what your liability or profit will be for the specific trade / strategy you are looking at.
How to do this is pretty straightforward. You just watch alot of matches and see how the market moves each ball / game / set. This might seem abit overwhelming at first cause odds seem to move a bit random. But eventually after alot of practice you can start to see patterns on what is normal and not and after that spot value (when market is out of line)
It took me about 3 months of pretty much watching every tennis match during that time in 2012. I dont know if that is fast or slow. You could probably learn it much quicker but. The first month I pretty much didnt trade i just focused on following the markets movement in relation to what happened in the match.
What else...
Bankroll management, there is loads of information out there on this topic. If you have a small bankroll that you can easily replace. Then you can risk a much higher proportion of your bankroll. If its something that you need to be able to work and make a living. Then you have to take really good care of it. Otherwise you wont make any more money if you blow it all. Its like being a carpenter and not taking care of your tools. You will be out of a job -> no food on the table.
Note worthy is, depending on your margins you have on each trade. If you have small margins = higher variance which then you should use a smaller porportion of your bankroll. The bigger the margin the bigger amount you can risk.
Ok thats all I had time for today. I hope you can take something with you from all of this anyways! I think learning how the markets behave for the different sports is for me the most important thing.
Stay Sharp!
/Sammy
Showing posts with label markets. Show all posts
Showing posts with label markets. Show all posts
Tuesday, January 21, 2014
Wednesday, December 18, 2013
2013
Hey Guys!
(I was just writing from the top of my head so it might seem like a lot of rambling)
As we all know tennis season ended a while ago and I have been doing basically nothing for soon one month. It was at first very awkward in a sense. Cause i didn't know what to do the first week, hence the fact that there was no matches going on and therefore nothing to trade.
Now I have been much better to relax in the fact that i do have holidays and can rest for the long season that is ahead of us.
So maybe its time to reflect on what happened in 2013. When i first started trading in february 2012, I kind of didn't know what to expect. Now almost 2 years later its kind of weird how fast time has gone and I was able to successfully learn how to earn a living trading tennis markets. 2013 was the best year financially for me ever in my career as a professional gambler or in any career that I have been in.
When i think back I can't really remember what happened during the year. Its like a big blur at least the first part of 2013. But April and May really got the wheels turning for me (for real) and they kept going for the rest of the year.
So what do I think about the markets this year. Well I think there is still loads of flaws in the market. Tennis is a really hard market to set perfect odds on due to the fact that an odds can be good in a trading perspective but in another time aspect be very bad in value for punting. And of course vice versa. There has been much more activity from the market makers in the second part of 2013 from my experience. Making the margins smaller for us traders due to the high liquidity and court side information.
On a personal development I gotten a bit stronger mentally to be able to trade with larger amounts without the brain totally jamming up. This has always been a big thing for me that I have struggled with to be able to handle risk. Its still an issue in a sense cause its holding me back from achieving greater results. But it's a double edged sword. Its hard to say maybe I wouldn't be in this position if i wasn't this risk conscious. I think its different for some people But in some cases I get very timid and therefor missing out on opportunities.
In the craftsmanship of trading tennis in a technical sense I think I'm kind of good maneuvering the market and "feeling it" and using it to my advantage.
My thoughts on 2014? I hope it will be great of course but who knows. Recent results says that it will probably go even better next year (would be kind of insane) but when I think about it I never feel to confident a lot of things can happen Its when you get comfortable you are the most vulnerable.
Enough rambling...
Merry christmas & Stay Sharp!
If you got questions. Leave it in comments section or send an e-mail.
/Sammy
(I was just writing from the top of my head so it might seem like a lot of rambling)
As we all know tennis season ended a while ago and I have been doing basically nothing for soon one month. It was at first very awkward in a sense. Cause i didn't know what to do the first week, hence the fact that there was no matches going on and therefore nothing to trade.
Now I have been much better to relax in the fact that i do have holidays and can rest for the long season that is ahead of us.
So maybe its time to reflect on what happened in 2013. When i first started trading in february 2012, I kind of didn't know what to expect. Now almost 2 years later its kind of weird how fast time has gone and I was able to successfully learn how to earn a living trading tennis markets. 2013 was the best year financially for me ever in my career as a professional gambler or in any career that I have been in.
When i think back I can't really remember what happened during the year. Its like a big blur at least the first part of 2013. But April and May really got the wheels turning for me (for real) and they kept going for the rest of the year.
So what do I think about the markets this year. Well I think there is still loads of flaws in the market. Tennis is a really hard market to set perfect odds on due to the fact that an odds can be good in a trading perspective but in another time aspect be very bad in value for punting. And of course vice versa. There has been much more activity from the market makers in the second part of 2013 from my experience. Making the margins smaller for us traders due to the high liquidity and court side information.
On a personal development I gotten a bit stronger mentally to be able to trade with larger amounts without the brain totally jamming up. This has always been a big thing for me that I have struggled with to be able to handle risk. Its still an issue in a sense cause its holding me back from achieving greater results. But it's a double edged sword. Its hard to say maybe I wouldn't be in this position if i wasn't this risk conscious. I think its different for some people But in some cases I get very timid and therefor missing out on opportunities.
In the craftsmanship of trading tennis in a technical sense I think I'm kind of good maneuvering the market and "feeling it" and using it to my advantage.
My thoughts on 2014? I hope it will be great of course but who knows. Recent results says that it will probably go even better next year (would be kind of insane) but when I think about it I never feel to confident a lot of things can happen Its when you get comfortable you are the most vulnerable.
Enough rambling...
Merry christmas & Stay Sharp!
If you got questions. Leave it in comments section or send an e-mail.
/Sammy
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