The facilities for finance traders are superb:

• Live data feeds direct from the exchanges for all financial markets
• Professional trading platforms
• Historical data feeds powering full historical graphs and chartin
• Live commentary of markets, news and ‘squawk’ services
• Training and advice from pro-trainers and traders

The trading room is a professional environment, in a modern office designed to maximise your trading profits with like minded traders.

The evening is free and takes place at 7.30pm Thursday 17th December in the trading room at the shop.

The evening runs with:

• Introductions
• Seminar by Charles Cochran who as 27 year experience of Market Profile Methodology
• Demonstration of Market Trading and Charting platforms
• Summary of Trading Room facilities
• Questions and Answers

To book a place (seats are limited) email victor@sportexchangeshop.com or call 0789 984 8638

Full directions are on the Sport Exchange Website

After a few months of planning, plenty of hard work, a large dose of stress and a decent chunk of cash I am delighted to announce the opening date as 7th October 2009.

The Shop will have the best facilities for pre and in-running trading/gambling and give everyone the tools/environment/knowledge to have ‘the edge’ to be successful.

There has been a huge amount of interest and I am offering 25% discount on prices for all first bookings made in September ready for opening.

Prices are:
1 Day = £40 (discounted in September to £30)
1 Week = £200 (discounted in September to £150)
1 Month = £750 (discounted in September to £562.50)

There are still seats available, though they are limited. Please get in touch with the Sport Exchange Shop  if you want to take up the discounts.

Visit: Sports Exchange Shop

Visit Warring SportExchangeShop

Green Up Radio is an essential service for serious Betfair trading professionals. The service plays an alarm alert to traders approximately 10-15 seconds before the actual live start time of a horse race, not just the scheduled off time. This gives the trader ample alert time in order to close his or her position and ensure that he or she is never in the potentially devastating position of having to close their position in play.

Green Up Radio is run by professional traders who understand the importance of and have themselves suffered the devastating consquences of allowing trades to go inplay.

We will be chatting to the folks behind Green-up Radio this Saturday on the RacingTraders show here on Juicestorm Radio, dont miss it!

Currently free Green-up Radio is a must for people trading the Pre-Off horse races.

Go Get it, Click here: Green-up Radio

I have been using just one piece of software for the past couple of weeks and having spoken to a few of you Guys (n’ Girl) who trade (and of course MOM) I am going to give the other software houses a bash.

The Point of this post is?

With the BIG THREE (below) all accessible and affordable to try out in Free/Trial versions, the next time that trading day is just going completely in the wrong direction why not grab a Short/Trial subscription, drop the stakes to pennies and have some real fun again. I have had a fun heart-stopping-at-times couple of weeks. And now I am going to do it again with some different software. Nice!

BetTrader

500 Minutes £10
1 Month £25
Annual £149
VISIT BETTRADER

Bet Angel

24 Hours Access £5.99
20 Day Trial £15
Annual £149
VISIT BET ANGEL

Gruss Betting Assistant

Free 30-Day Trial
£6 Initial charge then £6 every 30 days
Annual £72
VISIT GRUSS BETTING ASSISITANT

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Trading Software Poll

[poll id="2"]

Oh, and the proof part, almost forgot. 19th Feb till Today (Non Betfair Generator I Promise!)

TV presenter and ‘technology pundit’ Kate Russell, points out that gnuTrade offers a new take for those wanting to play the world’s stock markets and gives viewers a visual demonstration of gnuTrade’s unique Trading screen.

As well as highlighting the ‘Back a Player’, News feed, and Play and Real money options, Kate draws attention to gnuTrade’s striking graphics. “Past performance is beautifully illustrated,” she says, “with graphics that relay market movements in an easy to understand way.”

Read our previous Juicestorm post: gnuTrade Review

Visit the gnuTrade website

Below find the BBC segment and an Introduction to the GNUTrade interface.

We would love your comments if any of you have tried or are using gnuTrade.

Visit the gnuTrade website.

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And rightly so looking at the opinion I’m against in the likes of Graeme Dand and Roberto Cassini. Well, that brings me nicely to my contention that value is a myth. Because value is all about your personal opinion.

This is the only point I’ll address today because I ain’t the fastest typist! I’ll nail my colours to the mast here. Based on my few years of experience as a bookmaker at the South East England Point to Points – don’t laugh now – where Dave and I had the number 1 pitch together I stand by my opinion. I am not for turning.

Dave would be first up with the prices for virtually every race. He always had an opinion. His tissue would reflect value for him. Sometimes he got it right. Often he got it wrong. All the other “bookmakers” would do is go a little bit bigger than us. Did they offer value? No. You couldn’t get any more than a tenner on. We’d take the lot until we were filled up. We never knocked anybody back any amount if the price was still on the board.

So did we offer value for the punter? Not in Dave’s opinion, no. But we’d stand up in a field when it’s snowing and take a good few quid. So what was happening? Well, there were loads of mug punters there who just wanted to get on. But there were also a fair few professionals that only bet with us whose knowledge of horse racing may have been better than Dave’s and was certainly far superior to mine. They weren’t mugs. So why did they lump a grand or two on the favourite at a price that, in Dave’s opinion, wasn’t value? Why?

My contention is and no doubt they would agree they felt they were getting value. Two people. Both very knowledgable. The same access to the same of everything. Differing opinions. And at the end of the day that’s why I’m writing this. It’s all about opinions. I wrote earlier that “If I go against the momentum simply because of my opinion of value then I will not be comfortable. No matter how much I value my opinion.” I stand by that statement. I’m interested that you see it as utter rubbish Graeme.

There’s another post scheduled on that topic for Monday. For me to do it now would simply take too long. It’s the first night of my partner being away in Germany so you know the old saying? Sorry Graeme, no doubt your head is in bits by now. If your wife needs a cleaner to mop up the mess I know a very good one in Brighton as I see you’re in the UK. Please let me know and I’ll despatch her immediately. My expense mate. LOL.

‘Ere Cassini, leave my mate Brian alone. LOL. Catch you later. And good luck to you all as always. And BTW if any of you fancy coming on the radio show in January please let me know. A three way debate would be interesting. I think I’d lose with you lot having double the airtime than me. But I’d be up for it and it could be fun. What do you think?

Whenever I hear traders tell me, “I don’t have any opinion, I just trade price action.” I always smile and think to myself that the trader is both an idiot and a liar if they’re a trader in my other market. But in the betting exchange market it is a little different. The truth of the matter in both markets though is that every time you enter the market you are implicitly rendering an opinion on the future movement of price. The difference between those traders who do so implicitly versus those who put forth an explicit reason for their trade is that the former may have no clue of what they are doing while the later at least try to figure out the story behind the trade even if they’re only using a weight of money indicator on Betfair which used to work so well.

It goes without saying that I have little respect for traders who mechanically follow price action like mindless robots elsewhere. But in the betting exchange market you get paid not for what is happening now, but for what will happen in the future and if you cannot figure out what is likely to drive price towards your target you are just a lemming in the market. Right or wrong, developing an opinion is the cornerstone of a winning strategy in all trading markets.

Rule 2 – Let Price Confirm Your Thesis

To politely paraphrase a very crude Wall Street saying, opinions are like faces – everyone has one. Developing an opinion, even one that is ultimately correct, is utterly worthless if the market happens to disagree with your assessment. The history of trading is littered with brilliant analysts who were absolutely correct on their calls and yet were bankrupted by the vagaries of price action before they were ever proven right. Your opinion may be dead on, but as traders it is price movement, not opinion that we are trading. Until and unless price corroborates your opinion you have no entry signal for your trade.

Rule 3 – Manage Your Trade

More than anything else great traders are good money managers. I’ve always believed that you can put two great traders on the opposite side of a position and often both of them will wind up making money. On the other hand put two novices in the same spot and they will more than likely both lose. Trading above all is the art of managing the unknown.

Let’s say you own a sandwich shop in a popular tourist trap in Malta called The Strand in Sliema. Most likely you would know to within 10 or 20 sandwiches how many customers you will have every single day of the year. Now imagine that sandwich shop was the Betfair market. The day to day variance would drive most sandwich shop owners insane. Some days you may sell 500 sandwiches, other days you may have to dump all your food supplies into the garbage as no business came through your door. You really do not need to get involved on the favourite in every UK horse race. And if you do you probably won’t be around long! Burn out and over trading spring to mind. But there are notable exceptions to every rule!

That’s why trading at its core is always about managing risk. Every time you trade the operating principle is hope for the best and prepare for the worst. The only way I’m able to control risk and at the same time participate in the market is by always cutting my position in half once a short profit target is met. As little as 1 or 2 points on the betting exchange. And let the rest run with a break even stop. No matter what anyone tells you, there is simply no way to know if any given trade will be successful. But I really believe that half a loaf is better than none. Success in trading is contingent not only on your analysis but on your ability to properly manage your position. That is why the game is hard. To be a winning trader you must be both a good analyst and an an excellent risk manager.

Ladies and gents, that’s it from me today. But don’t forget we’ve got Leon from Don’t give up your day job on WUBT Betting Exchange Radio this Wednesday 26th November at 11.00am. He did, in fact, gave up his day job back in July 2007 after working abroad for a year and being fed up with it all. He has been successful on and off over the last 6 years with his betting and trading and we’ll get the latest news on the highs and lows. It promises to be a great show. He also has some very strong views on the Betfair Premium Charge so, please join us, live, right here, in 51 hours. Counting down now.

One of my favourites is GnuTrade’s Back a Player facility which is a trading option that no other gaming or trading company offers, and the potential for play money traders to make real cash if they attract a real money player to back them is obviously attractive. GnuTrade uses game-like graphics to make financial trading accessible to everyone.

Also, if you’ve ever fancied yourself as a stockbroker but lacked the confidence or cash to try, then Gnutrade is worth a go. It’s an easy way to play the world’s financial markets by betting on whether an index, such as the FTSE or Dow Jones, will go up or down. The service is free to join and lets you learn to trade with an unlimited amount of ‘play money’ before parting with real dosh. Detailed guides are provided to help beginners, while a live chat area allows you to share tips with other members. Surprisingly simple to use, Gnutrade is potentially both fun and financially rewarding.

GnuTrade (pronounced ‘noo trade’) price movements are easy to follow and you gain a better, more enjoyable trading experience. The site offers novel, simple ways to bet on the markets or other players and clear educational guides for those who are new to trading or want to improve their skills. GnuTrade even lets you use small amounts of cash and trade with play money to practice trading and help build confidence.

Past performance is beautifully illustrated with graphics that relay market movements in an easy to understand way. Market reports are available on the site too so you can do some homework before placing a bet.

Now everyone will have their own take on whether gambling on market movements is a good or bad thing but even if you do not want to risk a penny it is possible to make money here. As I’ve said this is because the site allows people who bet with cash to back players who are playing for fun. If you attract a real money player to back you and you make a profit, then some of that real cash gets sent to your account.

GnuTrade is an independent company registered in Curacao, which was founded by a team of highly experienced finance professionals. The company operates under a master licence issued by the Government of Netherlands Antilles and adheres to strict rules and policies regarding risk management, data security and accounting procedures. GnuTrade has offices and development teams in the UK, Curacao, Chile, India and South Africa.

Try GnuTrade Today

Small punters get better prices out of it. If the market is 100.5%, then they’re getting a fair price on their money.

Using market information is what every bookmaker does every day of the week in virtually every market he prices up. Momentum traders are doing nothing else.

You can’t expect to get the same price on a betting exchange as you do at the bookies on every selection. That applies to every sport not just horse racing.

Many have noticed the lack of early priced horse racing turnover has nothing to do with momentum traders. The market has evolved and reached it’s equilibrium. People have found out that sticking larger offers up across the board costs them money overall, so they have curtailed the amounts to fit in with demand at that point in time. Horse racing suffers more than most because it’s harder to determine the correct price and because of the genuine fear of inside information. You’ll also find that most successful traders are not momentum traders and are very opinionated.

Traders are very keen on the economics of movement towards the market equilibrium, but what about the economics of giving away something for nothing? Informed tissue-makers (if they want an early bet in size) have in effect to give away their pricing for scant chance of being matched.

Of course, traders either drip-feed or have to wait until closer to the off. Is the same amount of money matched in effectively the only market as it would be in early/evolving, than late markets? Not necessarily; often, the price has moved past the point where the opinion players want to play. The winners in the fight for the late money may be predominantly technically oriented, rather than judgment-based gamblers.

Technical traders winning is equally merited and their strategy equally legitimate. But what about a style-neutral interface? Momentum / WOM bots can take from losers as they do at the moment (typically by some sleight that involves putting up a worse offer than is likely to be immediately available), and tissue-makers can take from losers in having them blunder into out-of-line bets? Why should penny-size traders be able to play in the early markets to the exclusion of traditional big winners?

The answer may be it’s the market we operate in. Late money is found to be the most accurate prediction of true outcome probabilities and the greater the late odds movement in an entrant, the higher its probability of winning. Simply, bet late and bet often.

Well, that’s it from me today. Stay safe, wherever you are and good luck to you all as always.