Thursday, January 8, 2009

Gridiron Gold? Not Yet!

I spent an interesting Sunday evening watching and trading the American Football. I have always enjoyed watching Gridiron since my childhood and the initial Channel 4 coverage. However I have not traded the sport until Sunday. With what I saw I think there are great trading opportunities presented in this sport. I am writing this despite making a loss on my trading.

I watched the Miami v Baltimore game. The fascinating thing for me was laying the very short odds on. I had made a few early trades and was all red due to Baltimore scoring a few touchdowns. The Ravens were a couple of touchdowns ahead and trading at 1.02 so I stuck a big lay in and watched to my delight as it moved up to my break even point of 1.09. It was then that I made my mistake of being too greedy. I then backed using half of my stake and watched as the price increased up to 1.24 at one point. However as with all markets knowing when to get out is key and I held my position just as a Miami drive petered out and the odds shot back in to 1.02 meaning a loss of £60 for me. However this really did open my eyes to the potential of these markets. I then proved I had learnt a little from this as I traded the next game to make a nice profit of £15. A loss on the day but I hope this experience will lead to big profits in the future.

I think I will also look at other markets were you can lay at odds on as these trades have a very small downside and a big upside. The only problem I can see is the psychology of taking lots of small loses before you get the big profit.

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