The perfect example of why one should stay away from trying to trade the financial markets is written about today on TradeShark's Tennis Trading blog.
One thing I have learned today though is that I need to find a website or forum or something that gives a heads up of what significant financial news is due out each day.
What the shrewdies knew was that the unemployment figures were out at 10am and they were shite. By the time this information flashed up on the website I was using it was too late and the stake was lost. £50.Of course it was too late! Unemployment figures, or any economic statistics for that matter, do not suddenly appear out of thin air for all to see at the same time. Many hands are involved in compiling them, and lots of eyes see them before they are released. Why try to compete when the odds are so stacked against you? I'm not saying that you shouldn't invest in the stock market, long-term you certainly should, but as many found out to their cost about ten years ago, day-trading from your living room trying to beat insiders just isn't viable.
This highlights the beauty of betting in-play on sports - excepting the occasional fix of course. It's a fair game. What you see with your own eyes really is news, and the prize goes to those who can best use that news.
3 comments:
http://szports.blogspot.com/
Nonsense. Trading pure news even in the sporting arena is a tough game requiring speed. Secondly long-term stock investing is not all that, there can be decades without growth. And finally day-trading is not about trading news. Trading on all timescales is similar, the one advantage with day-trading is being able to read order-flow better though there is less liquidity and smaller ranges.
Point taken although I would have thought the people with real prior knowledge of the figures wouldn't be wasting their time using 20 quid stakes on Betfair.
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