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The spread is much higher, but while it may be 10 cents at a typical book, it's often 0-2 cents (0.5% to 1%) as a market, and the market is less competitive. Betting exchanges are okay but you'll only get the lowest spread by having using a good variety of books. I had thought about moving to...

I find this thread interesting, because it's identical with what would happen in discussions on sportsbetting boards. Someone would suggest that you can't profit longterm sportsbetting as no-one is good enough to beat the bookmakers. Like you, they seemed to assume that the market was too...

It didn't work for you so it must not work, huh?

20% for a trader is a completely different proposition to 20% for an investor.

What better background? All moves and outcomes can be calculated in chess, while financial markets have an infinite number of variables and outcomes. Trading deals with the psychology of losing money, of being financially ruined. I'm sure chess can be a great influence in some ways, but surely...

No. His accent is all over the place, and he sometimes gets it simply through chance. He sounds no more Australian than he sounds English or American.

That's a big assumption, as one would have to be considerably worse at day trading to achieve a result no better than swing trading. I'd hate a 40+ hour week.

Most of us act like it is valuable because to most of us it is valuable. It doesn't matter if it's simply because we make it so.

Bad analogy, as winning the WSOP is mainly due to chance. Also, a typical professional these days is a 20 something online player who become profitable within days to months, and online players can reach a high level of expertise within a couple of years. Poker is extremely accessible to new...

Most aren't destined to be profitable, so no amount of screen time will do them any good. For those that do become profitable, the time it takes to do so varies significantly.

In my opinion, it's not the market skills that are hard to develop, but the personal attributes that are needed to be successful in the longrun (at least without being extremely lucky). I'd consider these to be patience, discipline, emotional control and the ability to be objective...

Sacrificing a higher return to gain a lesser workload is a luxury that one can only afford when well-capitalised.

Some people do actually buy cars to drive them, rather than to show off in them.

Which you won't if you're making straight bets. An increasing sample size can narrow the likely range that your edge will fall within, and the market can be useful in gauging the size of your edge, but the fact is in most cases all you are doing is making a guess.

Sounds like a salesman touting his own horn.