Why Football Traders Are Not Gamblers

Roulette wheel with the ball in 24 black

It’s not easy to explain what I do. The word “trader” is vague enough as it is. People have overheard trainer on more than one occasion. The second question, seeking to clarify what I’ve just said, would bring me to answer: “sports trader”, which would then lead people to reply with another question – “so you are a gambler?” And then I can start explaining what the differences between the two are. In my opinion the difference is huge. Another option would just be to agree. “Yeah, that’s a gamble, perhaps more calculated than others”. However, I am not happy with that term “gambling” and the prejudice it may come with. So why is sports trading different than gambling? If you search this topic online you will find out many different ideas and opinions on the difference between the two. It is entirely up to one to decide how he feels about it. For me at least, and for other people who call themselves traders, I think it is safe to say the difference is in the mindset and discipline, the approach to the money and the thought on long term. The trader uses team statistics (the most powerful tool … Read more

Patience, Determination, Discipline and Redundancy: Then Success!

A Goal Profits member's success story; from redundancy to profit.

I would like to share with you an incredible success story. Imagine being made redundant and using part of your redundancy package to put a trading bank together. That’s pressure! But what if you were able to start making enough money from Betfair that you only needed to find a new part-time job to make ends meet? It’s a dream for many, but it’s not impossible with patience and determination. Since Goal Profits first started, way back in 2011, I have lost count of the number of members who have no patience. They will sign up, read half an eBook and then expect to clear Betfair of all its money. Invariably, these people soon discover that the holy grail of betting doesn’t live at Goal Profits (or anywhere else, for that matter) so continue to jump from system to system trying to buy an impossible dream. All of those who become profitable football traders have a longer-term mindset. They don’t expect to learn all the skills required overnight, but set out to make a success of trading – whatever it takes. One such member is Bryn who has grown as a trader in a spectacular way. It didn’t happen after a month or two and there … Read more

Why It’s a Mistake to Focus on the Stakes NOT the Returns

A pile of £1 coins

It was interesting to read some of the comments in the trading chat room during the Europa League matches last night. In the absence of Steve & Kevin there were some excellent suggestions from the members for in-play trades, particularly in the second half. The two popular strategies were LTD (lay the draw) and SH15 (Second Half 1.5 Goals) and with plenty at stake in the last group games it was no surprise when the goals started to come. Now, when trading LTD and SH15 there is always a dilemma after the first goal – namely, do I: (1) Trade out, i.e. exit the trade and leave equal profit on each outcome; (2) Hedge my bet, i.e. my worst case becomes scratch, whereas my desired outcome means a nice profit; (3) Let the trade run, i.e. leave all my potential profit on the desired outcome and accept the loss if it doesn’t work out. Personally my decision is based on my current position in the trading session. If I’m running at a loss for the session I will trade out and take the green. If I’m nicely in profit I will usually hedge. If I’m having a big evening, i.e. … Read more