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I'm thinking of taking the big step into exchange trading and am looking for some advice. I'll be out of a job at the end of the month so will have a bit of time on my hands. I'm not looking at making this a career choice just yet but want to utilise the spare time i have to practice and develope my skills. So basically i need some advice on the best way of getting started. I understand the basic concept of trading but i need to practice and develope my own strategies. Can some of you experienced traders on here suggest a starting point?? What is a good trading software to use starting off with, are there a couple of good books i could read, would it be worth my while doing an exchange trading course?? My main betting interests are football, particularly the CS market, so i'd probably look at that as a starting point. Would appreciate any suggestions and advice.
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Trading is about making an "informed decision" on the direction a market will take.
People who make "informed decisions" on betting markets lose in the long run. I would advise - especially as we're talking redundancy money here - you look for another strategy. Bookmakers make a lot of money laying over-round. You might not make as much money per market by mimicking their strategy on here, but mathematically, in the long run, you'd be more likely to come out ahead. Just consider your options before you dive in, and note that the high street is not full of traders. My high street is full of bookies though... |
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Discipline(never chase)
Trading bank Research Reason for the trade(argue for/against with yourself) Dont follow the crowd Practise with small stakes first Try to stick to markets you know well(specialise if you can) High turnover markets naturally best(Footy,Horse racing) |
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What is a good trading software to use starting off with
None. |
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Tennis is the best to trade imo(but you need to know a lot about it, but also football and horse racing
software = use "Geeks toy" (free and great) start small and experiment different approaches (you should have at least two or three different strategies that work in different circumstances) a nice book is "Trading in the zone" just a few points but believe me that there are many more [;)] |
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Thanks for the replies everyone, much appreciated.
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Check this forum out altobelli, digest the content and ask as many questions as you like. http://www.geekstoy.com/forum/index.php
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TOTGA Joined: 13 Jun 10
Replies: 5 16 Jun 10 12:08 Trading is about making an "informed decision" on the direction a market will take. People who make "informed decisions" on betting markets lose in the long run Are you just going round threads making this stuff up? Just because you can't , doesn't mean others can't |
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I wrote a long reply that won't post here. I'll add it to my blog at http://green-all-over.blogspot.com/ if you're interested.
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