This is a helpful comparison. Do you think steam chasing is really that similar to momentum trading though? Usually steam chasing works because you can find more favorable odds at sportsbooks that are slower to update or react to news faster. Isn't this opportunity mostly already tackled in the market by high frequency trading? I understand how they are similar - you want to buy when there's a good chance there will continue to be more buyers. But I wouldn't know how to go about finding those opportunities. It's very obvious in betting.
Zero day to expiry options is the greatest casino in the world. One trillion notional a day. Do not get banned if you win.
There is no steam chasing in stocks anymore —that is now dominated by ULL HFT, DE Shaw, Renaissance Tech, citadel, and Virtu.
**************** Hello! I used to bet sports also and found the vig too high, too much sleaze, and not enough analytical tools. I picked 69% over 6 weeks taking 3 basketball games a day in 1992. Has the sports betting environment become more legit, and does it offer technical analysis tools now? I know how to read the teams cycles much like the cycles in trading. It's the same sine wave concept with a 0 baseline for underachieving and overachieving teams that cycle up and down. Teams are like schools of fish melded as one that ride the same self-belief or lack thereof that creates momentum shifts and betting opportunities. I started with it in 1983 and started trading futures a year earlier in 1982. Please share your thoughts and your prior level of success in sports wagering as a business with my advance thanks...Matt Thomas
Becoming a winning trader needs talent and long time experiences.You will need to prepare for like 20 years before you can consistently make profit. You can learn most things in sport betting from what other say, and you only need to find by yourself a few key secrets to become a winning bettor ,but in trading you will need to discover hundreds secrets by yourself, all the public known information are useless in enabling you to make consistent money. Most traders who claim they are consistent winners are not real winners because their winning history have not been long enough to prove themselves.Because market is consistently changing behavior and most winning strategies lose edges overtime.
I have way more than 20 years experience and paid my dues like we all do. I only bet on things that repeat and do not change, like human nature .
@theflyingbuffalo The Peter Reznicek video embedded below is the closest thing I've seen that describes market info which mirrors the kind of info used by the sports better I referenced in my previous post. Stuff like: How well does that team usually fare against this kind of defense?; Which of the two opposing quarterbacks averages the most yards per attempt?; How do head-to-head match-ups featuring multiple offensive and defensive formations look? (i.e., PFF rankings); etc...
Hey Mickey, you're one of the most experienced Stock Traders here, would Footy betting be harder or easier than Stock Trading? Footy betting is Tax free as long as you keep it under $10k a win and the Taxman doesn't know what you're doing. I could watch Fox Sports all weekend. H2H odds are pretty tight though. You'd have to bet a lot of games I guess https://www.tab.com.au/sports/betting/Rugby League/competitions/NRL
I've never looked into footy betting, don't know how it operates. Slightly changing the subject, I was dating this woman once, for a year or two, her father in Sydney was a well known jockey, he even lived in Hong Kong for some years racing at Sha Tin. We would go to the track in Sydney or Perth, but when there this bloke and his wife would skive off all day into the VIP stand hob knobbing with the well heeled, never give us tips, never. All seemed a bit shady. But he did say the night harness racing and greyhounds were the most corrupt.
Speaking of Horse Racing and you being an Algo writer. Heard of Bill Bentor? The Man who cracked the Horse Racing market allegedly https://www.bloomberg.com/news/features/2018-05-03/the-gambler-who-cracked-the-horse-racing-code