General Betting
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Does anyone marvel at, or perhaps doubt the authenticity of the pre-race P&L statements published by 'Super Traders' (ST's) on their and other blogs ?
CONSISTENCY - Take a normal weekday afternoon's racing - 3 race meetings with 18 to 20 races. These ST's manage to 'green up' for a profit 80-85% of races day in day out
VOLATILITY & LIQUIDITY - On the ladder interface of many of the trading applications, it is easy to see the matched trades (flashing figures) and the tick movements on the chart alongside. These ST's are having to turn over big sums of money in order to green up with a profit of £10-£50 / race, which many seem to do; especially when they are operating at the front end of the market where the volume of money is.
Certainly there is usually one horse in the top three which drifts or shortens by more than the odd tick movement; but not as the 'off' time approaches or when the big volumes of money are in place- then the tick movement nearly always contracts. Do the ST's always manage to get on the 'steamer' or 'drifter' ?
I am certain that it is no longer easy to predict which way the price will move,since the advent of automatic bots and the big 'spoof' money which ST's use to manipulate the price movement.
I read that one or two ST's run training courses or coaching sessions. From comments I have seen from people who have attended, I don't know of anyone who has watched while a professional trader has racked up several hundred or even a thousand pounds in an afternoon!
CONSISTENCY - Take a normal weekday afternoon's racing - 3 race meetings with 18 to 20 races. These ST's manage to 'green up' for a profit 80-85% of races day in day out
VOLATILITY & LIQUIDITY - On the ladder interface of many of the trading applications, it is easy to see the matched trades (flashing figures) and the tick movements on the chart alongside. These ST's are having to turn over big sums of money in order to green up with a profit of £10-£50 / race, which many seem to do; especially when they are operating at the front end of the market where the volume of money is.
Certainly there is usually one horse in the top three which drifts or shortens by more than the odd tick movement; but not as the 'off' time approaches or when the big volumes of money are in place- then the tick movement nearly always contracts. Do the ST's always manage to get on the 'steamer' or 'drifter' ?
I am certain that it is no longer easy to predict which way the price will move,since the advent of automatic bots and the big 'spoof' money which ST's use to manipulate the price movement.
I read that one or two ST's run training courses or coaching sessions. From comments I have seen from people who have attended, I don't know of anyone who has watched while a professional trader has racked up several hundred or even a thousand pounds in an afternoon!
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Very very few make many hundreds or a grand or two per day. Quite a few make enough to make a living (perhaps a hundred or so.) But it's not easy work, your comment about knowing which way a price will move could also be applied to the financial markets which are also extremely tough and impossible for most people to trade. Many try, most fail, but its not impossible, it just takes a hell of a lot of time energy and discipline to learn how to make money from it.
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remember any P&L from any source can be manipulated, i would ask anyone for a live demo over a day that you choose, that should sort the genuine ones out
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Training courses are far more beneficial to the tutor than they are the pupil. Ok they may help you to understand the mechanism of trading and software, but it's not rocket science and certainly not value for money. You can stand behind a professional all day long and marvel at the figures but you won't replicate them without cold hard experience.
To anyone thinking about parting with their hard earned, save the money and start off with minimum stakes to get a feel for the markets yourself. There are plenty of traders out there willing to help newcomers for free because that's how most of them began. |