CLOSED, please see Trading Challenge thread above (was: Idea for trading challenge)

[Nintendo2k]

I haven't really read through the whole thread here, so sorry if I am stepping on anyone's toes.. just thought I would share my experience after trying to do some trading. I did not use any special software for this.

I have tried my luck on trading twice now... and both times I came out with a decent profit.

The first one was just for fun really.. My screenshot of the first trade don't show all the stakes. It was pretty straight forward. Take a position and hope for the best.

The second trade.. well I suppose that also was mostly take a position and hope the odds change dramatically. It was a very close game the first couple of innings, but LA Dodgers were huge favorites really, so I was hoping to see them maybe score a run first so that I could back Oakland at high-ish odds. Of course that happened, and that was when all the fun started.

You can see that on the second screenshot that I started my position by taking a £2 position at odds of 15 for Oakland to win. 20 minutes later I could lay that at odds of 1.24.. It was a very close game as I said, and I didn't mind losing the £2 anyway..

It started getting dramatic around the time you see that I backed LA Dodgers at odds of 6. After that trade I would be up only £6 if Oakland did win and just over £100 if LA were to win, but profit is profit, and this was all for fun, so I didn't mind either way.

Of course the game turned around. LA were huge favorites and they were playing at home. I could lay them at odds of 1.24 about 20 minutes after I backed them at odds of 6. Following that I did a few back bets on Oakland I shouldn't have done. I really should have been more patient.

The goal was to finish £50 up on both. If I had been a little more patient I would have been up around £75-ish on the second trade. But I am more than happy with what I got.

[butty]

I'd be interested in taking a dabble at this - £100 or so seems about right to get going.

[toonjangles]

I too would be interested in having a crack at this. £100 seems reasonable to me.

[Grandthrax]

I haven't really read through the whole thread here, so sorry if I am stepping on anyone's toes.. just thought I would share my experience after trying to do some trading. I did not use any special software for this.

I have tried my luck on trading twice now... and both times I came out with a decent profit.

The first one was just for fun really.. My screenshot of the first trade don't show all the stakes. It was pretty straight forward. Take a position and hope for the best.

The second trade.. well I suppose that also was mostly take a position and hope the odds change dramatically. It was a very close game the first couple of innings, but LA Dodgers were huge favorites really, so I was hoping to see them maybe score a run first so that I could back Oakland at high-ish odds. Of course that happened, and that was when all the fun started.

You can see that on the second screenshot that I started my position by taking a £2 position at odds of 15 for Oakland to win. 20 minutes later I could lay that at odds of 1.24.. It was a very close game as I said, and I didn't mind losing the £2 anyway..

It started getting dramatic around the time you see that I backed LA Dodgers at odds of 6. After that trade I would be up only £6 if Oakland did win and just over £100 if LA were to win, but profit is profit, and this was all for fun, so I didn't mind either way.

Of course the game turned around. LA were huge favorites and they were playing at home. I could lay them at odds of 1.24 about 20 minutes after I backed them at odds of 6. Following that I did a few back bets on Oakland I shouldn't have done. I really should have been more patient.

The goal was to finish £50 up on both. If I had been a little more patient I would have been up around £75-ish on the second trade. But I am more than happy with what I got.

Two nice profits you have there, congratulations. Did you have a plan on what you would do if it went wrong (such as if the odds got to so and so get out)? Or were you planning to let it run? Also how did you decide when you were going to lay?

[munk]

I haven't really read through the whole thread here, so sorry if I am stepping on anyone's toes.. just thought I would share my experience after trying to do some trading. I did not use any special software for this.

Are you interested in doing this challenge nintendo2k? If so I'll add you to the list on the first page? Also what kind of float would you be happy with if so?

Cheers.

[Nintendo2k]

Two nice profits you have there, congratulations. Did you have a plan on what you would do if it went wrong (such as if the odds got to so and so get out)? Or were you planning to let it run? Also how did you decide when you were going to lay?

I did not really have a plan. I started out with a £2 position at odds of 15. If something went wrong, the most I could lose from my own money was the £2. And how you decide when and what to lay.. well when the odds are right and it gives you a profit no matter outcome. You don't have to lay either.. you could back the other team. But in my case the lay odds were better at the time.

But I don't really know much about trading.... this was a baseball game with only two teams, so swings are expected! I would not have known what to do if it was a race card or big brother market or something like that.

[Nintendo2k]

Are you interested in doing this challenge nintendo2k? If so I'll add you to the list on the first page? Also what kind of float would you be happy with if so?

Cheers.

Not sure yet as I am going to be otherwise engaged next week so won't be able to do much... We'll see after that.

[Grandthrax]

And how you decide when and what to lay.. well when the odds are right and it gives you a profit no matter outcome. You don't have to lay either.. you could back the other team. But in my case the lay odds were better at the time.

Sorry what i meant was why did you lay at 1.24 instead of waiting/hoping that the odds to drop lower?

[Nintendo2k]

Sorry what i meant was why did you lay at 1.24 instead of waiting/hoping that the odds to drop lower?

Actually I placed both the lay offers out there. I tried lower, but there really wasn't much point in trying offer odds lower than what I got. I did wait to see if someone were going to take the really low odds, but no takers. But the odds I successfully layed at was a lot lower than the back side was queuing for. The last lay was around the 9th inning or so, and towards the end I got a little paranoid.

As I said, I could have plaid it better. The Dodgers side of the bet had around +£105 after the £16 bet at odds of 6. Annoyingly I could have gotten better odds on that bet if I had my head straight. They were tied at the time of the lay.. and given that I don't know the future, I started to look at what I could guarantee on both sides. The game eventually went on to extra innings where LAD won it.

[bish]

I'd like to be included on this challenge please.

I'm not massively comfortable with the £100 float though, I'd be more happy with £25-£50.

Perhaps we can have a two tier approach?

The high rollers vs the penny pinchers?

Cheers
bish