Investing Tips Information

Trading Sports
By Gary Clucas

I have spent hour upon hour trying to find the perfect trading strategy in a wide range of sports, some have had more success than others but I have firmly come to the conclusion that there is no such thing as the perfect rigid trading strategy. Once you have accepted this you then begin to understand that being a good trader isn’t about the strategies you use, but how you cope with the stresses and strains of using them and the psychological aspects of trading.

Being a good trader takes huge amounts of discipline, you have to cope with severe pressures, whilst maintaining a clear head and being able to adapt very quickly to different scenarios that occur. There are likely to be long periods of boredom where nothing happens what so ever, but when the time comes you need to be ready. You have to be able to take a loss on a trade and welcome it like a long lost brother. Because successful trading depends as much on cutting your losses as it does on producing profits.

As a career move I would find it difficult to recommend it. If you are good at the job you are doing and earn a reasonable amount of money then stick with that. Profiting from Sports trading is hard work. Most never will make it and don’t believe for a second that it gets any easier because I don’t think it does. The pressures change but they are still there.

If you can and these days with events starting 24/7 it’s real easy. I would suggest you treat it as an enjoyable hobby. There’s nothing quite like watching your favourite team perform in your favourite sport and making a few quid out of it at the same time.
But if you must attempt to make a living as a sports trader using my experience whilst running ‘The Sports Forum’ you will require the following attributes…

A. Discipline, discipline, discipline.
B. The ability to think fast when required but the patience to sit through long periods of time when absolutely nothing happens, without losing your concentration.
C. Adequate funding on the outset is essential, Yes you can use various staking strategies to increase your returns and I would urge you to do so. But none of them will be perfect.
Correct funding when things go wrong is a must. No matter how perfectly prepared you are, things can and will go wrong. You need cash behind you. Apart from anything else it will have a positive effect on you mentally.
D. Keep records of absolutely every thing you do. You cannot analyse your results if you don’t and that means you cant improve and grow as a trader. There’s absolutely no excuse, the exchanges do all the hard work for you. All there is left to do is download it into a spreadsheet.
E. Join a Sports Forum, it genuinely has helped me to talk about strategies and compare thoughts and ideas with other traders.
F. Talk to your family make sure they know what’s involved you will be spending many an hour at your computer screen and that can affect your family life in an adverse way. Make sure they know what’s happening and keep talking. It’s easy to forget there’s a real world out there!
G. Remember to take the day off from time to time, I usually pick a day where there’s not much action. The night before as I switch my PC off. I tell myself that’s it for 24 hours. I find the small break gives me time to clear my head.

Hi i have been researching systems and strategies for sometime now.

Many of the services and system peddlers leave a lot to be desired. I intend overtime to review and compare some of the more popular one’s around on my blog. As well as adding one or two of my own free systems.

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