How goes the sports betting biz these days?
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- Thread starter KGTrader4
- Start date
How goes the sports betting biz these days?
over 100 bets ytd and green so far.
KG your exchanges here on ET have generated some fine exchanges of viewpoints and information. Things evolve as projects go forward and can benefit from a review and refine and refocus of intent and expectations.DD, yes, I read O’Neills book a while ago, and actually am half way through reading it again. There is so much to absorb, this second time around I’m trying to just focus on the bigger, macro stuff.
And yes, swing trading stocks. While I’m looking to make money doing it, I’m planning on doing it (once I’m comfortable) as much to have fun, and to keep my mind sharp and engaged in retirement. But yeah, I wanna make money too.
I do some trading now, but not with a firm process and plan, that’s where I’m looking to get to.
been watching some good YouTube videos too, most of which I find on FinTwit.
Trading related activities like the two types listed below require time.
Sharpening the saw - Studying and analysing trading methods and markets
Milling lumber - Executing and managing trades. (paper or real)
Early on you listed your reasons for trading stocks.
Is this list sorted highest priority first?
1) to have fun
2) to keep my mind sharp and engaged in retirement.
3) to make money too.
4) with a firm process and plan, that’s where I’m looking to get to.
5) swing as the preferred method - for trading stocks
If you were going to block out some time in your schedule for your trading related activities...
How often per week, for how long, at what specific time(s) might that be initially?
Time blocking - https://www.elitetrader.com/et/threads/interesting-search-terms.365486/page-3#post-5570990
What is your minimum realistic expectation of A) percent gain / B) max acceptable loss per year for this project?
A woodsman was once asked, “What would you do if you had just five minutes to chop down a tree?” He answered, “I would spend the first two and a half minutes sharpening my axe.”
KG your exchanges here on ET have generated some fine exchanges of viewpoints and information. Things evolve as projects go forward and can benefit from a review and refine and refocus of intent and expectations.
Trading related activities like the two types listed below require time.
Sharpening the saw - Studying and analysing trading methods and markets
Milling lumber - Executing and managing trades. (paper or real)
Early on you listed your reasons for trading stocks.
Is this list sorted highest priority first?
1) to have fun
2) to keep my mind sharp and engaged in retirement.
3) to make money too.
4) with a firm process and plan, that’s where I’m looking to get to.
5) swing as the preferred method - for trading stocks
If you were going to block out some time in your schedule for your trading related activities...
How often per week, for how long, at what specific time(s) might that be initially?
Time blocking - https://www.elitetrader.com/et/threads/interesting-search-terms.365486/page-3#post-5570990
What is your minimum realistic expectation of A) percent gain / B) max acceptable loss per year for this project?
A woodsman was once asked, “What would you do if you had just five minutes to chop down a tree?” He answered, “I would spend the first two and a half minutes sharpening my axe.”
thanks Easemon. Yes, I’ve gotten a lot out of the exchanges here and appreciate all the helpful responses from everyone to my noob questions.
so over time, I’ve definitely evolved to wanting to spend some time on this, but not so much that I become OCD obsessive which I tend to do, and not so much time that it cuts into other interests.
I think time wise, if I spent an hour to hour and a half (not including casual reading) on this project that would work for me. And during the week, maybe 30-40 minutes a day, just checking my positions, making adjustments if necessary.
I’m ok with ho,ding a position as long as I need to in order to maximize the trend.
it seems like what I’ve arrived at is very similar to what I’ve done in the past, except I’ll use more TA, and it won’t be set it and forget it . And it will be a relatively small portion of my total portfolio. In fact though, I think using longer time horizons, plus combining some fundamental analysis with TA, will make me more comfortable devoting, say 10-15% of my portfolio to this strategy, vs the much smaller % I was thinking for day/swing.
who knows, maybe at some point I evolve back to swing, or maybe market conditions push me towards shorter holding periods at times. But that’s where I’m at right now.
it seems like what I’ve arrived at is very similar to what I’ve done in the past, except I’ll use more TA, and it won’t be set it and forget it . And it will be a relatively small portion of my total portfolio. In fact though, I think using longer time horizons, plus combining some fundamental analysis with TA, will make me more comfortable devoting, say 10-15% of my portfolio to this strategy, vs the much smaller % I was thinking for day/swing.
who knows, maybe at some point I evolve back to swing, or maybe market conditions push me towards shorter holding periods at times.
it is possible to sober up a drunken horse thief, but they will still be a horse thief.
A woodsman was once asked, “What would you do if you had just five minutes to chop down a tree?” He answered, “I would spend the first two and a half minutes sharpening my axe.”
thanks Easemon. Yes, I’ve gotten a lot out of the exchanges here and appreciate all the helpful responses from everyone to my noob questions.
so over time, I’ve definitely evolved to wanting to spend some time on this, but not so much that I become OCD obsessive which I tend to do, and not so much time that it cuts into other interests.
I think time wise, if I spent an hour to hour and a half (not including casual reading) on this project that would work for me. And during the week, maybe 30-40 minutes a day, just checking my positions, making adjustments if necessary.
I’m ok with ho,ding a position as long as I need to in order to maximize the trend.
it seems like what I’ve arrived at is very similar to what I’ve done in the past, except I’ll use more TA, and it won’t be set it and forget it . And it will be a relatively small portion of my total portfolio. In fact though, I think using longer time horizons, plus combining some fundamental analysis with TA, will make me more comfortable devoting, say 10-15% of my portfolio to this strategy, vs the much smaller % I was thinking for day/swing.
who knows, maybe at some point I evolve back to swing, or maybe market conditions push me towards shorter holding periods at times. But that’s where I’m at right now.
Lookin good man. You got your plan, the urge, the nerve and the will, lol.
Maybe look in on SOXL and SQQQ 5 minute charts once in a while to get a feel for the same setups you are studying on a higher timeframe chart. They often move in opposite directions so a simple 'buy' can be entered quite often. Just a quick glance at a couple charts maintained just for that purpose gives feel for the setups that are of interest at any particular time for you.
Imho the setups work the same way on a 5minute as they do on a 30minute and same as a Day.
5 minute setups - do they perform on 60m charts and onward to Daily, Weekly and Monthly charts?
https://www.elitetrader.com/et/thre...rd-to-daily-weekly-and-monthly-charts.366116/
The stops etc will vary in proportion to the footprint of the setup, but otherwise they unfold so much more quickly that the time to 'see what happens' is reduced proportionately too.
This could quicken the real-world experience of the setup from several days at best to an hour or less while providing the 'feel' of the unfoldment. A guy could even trade 10 shares so there's some small skin in the game instead of that natty dread of waiting for days or weeks to see if you get P or L, lol.
Hahahha
it is possible to sober up a drunken horse thief, but they will still be a horse thief.
That quote sounds like some Pastor in Texas got a hold of what we used to say... and gave it a "G" rating for his Sunday morning shaming of the wicked.
>>>Just substitute "horse thief" with "cheating wife" and you'll get the original.