Total Profit/Loss : 22.14€
Current Bank : 757.37
Basketball, especially NBA, is a well known sport for me. For quite some time I was thinking about trading it but there's always a problem, time-zone. Considering that I'm an European, the hour difference means that games over here start past midnight which isn't good if you have to wake up early the next day to go to work. However, I decided to give it a try during this weekend to see how the market is.
Today the earlier game was Portland Trail Blazers @ Washington Wizards, the Wizards were the favourites even though their best player wasn't going to play due to a knee injury. I've started by backing the Wizards which were comfortably in the lead the whole game. I've traded in small chunks, mainly 10€ and a couple of 20€ trades by backing the Wizards and laying them 5 or more ticks lower. One thing was clear from the beginning, these markets don't have much money which can be a huge problem for traders, so be aware and don't trade with huge chunks because if you are caught on the wrong side you might find yourself in a deep hole.
Wizards won the match comfortably by a margin of 19 points giving me a profit of 6.07€.
For those that are not familiar with NBA markets, I took a screenshot of the Washington Wizards chart ( at half-time ) last night against the Portland Trail Blazers to show you how this market can be very good to trade. Wizards started with an SP of 1.60 or so. Blazers scored first ( 2-0 ) and just because of that the Wizards drifted a little bit to 1.70 which is insane in my opinion. They immediately pulled it back and the price steamed a lot as you can see in the image. I can't see why people overreact so much, a 2 points difference in the beginning of a Basketball game is nothing.
Another NBA game today where I made some trades was Golden State Warriors @ Toronto Raptors. Toronto were the favourites but not by much, so I've started this game by laying them ( SP at 1.40s ) and backing a few ticks above quite easily because the Warriors started a little bit better and as the market tends to overreact to everything that happens in the game it was quite easy to get matched a few ticks above. The Raptors quickly took the lead and so it was until I left the game. With just 5 or 6 minutes left in the game, the Warriors were losing by 3 points and were available to back at 4.50 !! By that time I already had my 9.27€ greenbook done and wasn't in the mood of wasting it, you know what I mean. Guess what, 3 minutes later they were available to lay at odds under 2.00 and ended winning the game by 6 points margin.
Here's the Raptors chart when I left the game, lots of swings.
I haven't traded Tennis yet but just from what I've heard from some fellow traders is that these swings also happen there very often which is good if you are on the right side. It seems like I'll have to start trading Tennis!
Happy trading!
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