Everyone loves being right about something, none more so if there is money on the line. From a friendly wager in the local about whose team will finish highest, to the 50p flutter on the Grand National... if it wins then you made a good pick.
I had never been much of a betting man; the occasional fiver on a first goal scorer when I was on my way to the match but that was about it. I didn’t know about betting banks, Betfair or betting systems.
Through chance. I read about someone on a football forum who used Betfair to lay the draw and was doing ok. In principle, this sounded like a piece of cake.
Armed with a massive £50 off I went to Betfair to pit my wits against other traders and make my millions - having watched and played football for getting on 30 years (crikey I feel old) I was sure my initial small stakes would soon be growing.
Needless to say, a couple of weeks later I found myself to be one of the many lemmings on Betfair with my small stakes and small bank gone. It wasn’t as easy as it sounded.
My decision making was terrible and, looking back, I didn’t have any real basis to enter half the trades I did. Coupled with the bank management skills of Northern Rock and I was on a hiding to nothing.
Confidence shot, but also rather liking the trading of an evening and weekend while I was watching the football anyway, I knew that I needed to increase my knowledge and research.
Reading one of the many articles on football trading to try and increase my knowledge I came across Assured Soccer Profits.
It was an eye-opener of a system, but also taught me the discipline of entry and exit points that I needed - a plan. Paper trading for a while I was doing well, so off to Betfair again for real on a Friday evening for a traditionally low scoring Ligue 1 game, (high scoring games are not great for ASP).
I watched in horror as St. Etienne scored 4 goals in 25 minutes and I was caught like a rabbit in the headlights with real money. Surely they won’t score another - repeat and rinse for 25 minutes. But that was one game out of hundreds, accept defeat and move on - and I did.
I grew my bank with the lessons learned and the decisions I, and I alone, didn’t make on that game.
But I like that aspect of trading; it's self improvement in a way, to become more decisive and to live and die by your own trading decisions, to not be a lemming and follow something blindly. Do your research and pick the games you think you can be right on the money with.
There's nothing sweeter than hitting the right game and making a trade that puts you in the green. Equally, if you make the wrong choice then live and learn from it. It's the long haul that matters, not that particular week's profit and loss to look at.
It's now a couple of years into my casual trading journey, I don’t trade every day, just when life allows. It's a challenge that I enjoy and I learn from with every single trade I enter. Very rarely is it a piece of cake.
I have had a crack at creating my own strategies, some more successful than others. I've spent many hours of testing and paper trading, watching odds, watching Betfair ladders, looking at price graphs.
I have also flirted with other sports like tennis, which is fantastic to trade and I still trade it occasionally, but football has been my sport since I could kick a ball, and I'm very pleased to say that I'm now making more right trading decisions than wrong ones.
I will confess though that I did have a re-lapse last weekend of not using Team Stats and went 'off radar' to trade a MLS game... madness I hear you say!
I am very selective with correct score trades but using my experience of trading so far I liked everything about it, so I put my money on the line to see if I was right.
New England Revolution 3 Columbus Crew 1 and a target score hit! It brings me back to making the right decision and getting an ever so nice kick out of being right, especially with money on the line.
Although it was one game out of many, I couldn’t have done that a couple of years ago. Everything I've learnt so far put me in the position to make the trade. I don’t think I’ve made a sweeter trading decision than when the 3rd went in on 77 minutes, bang on the money. Not bad for an ex-lemming!
It's too early to say if I've turned a corner with my trading, but I'm certainly enjoying going round the bend!
Goal Profits member: Ste