I’m off on my travels to see my family so I am afraid the tennis trading will be put on hold for a day or two.
I hope you’ve had a chance to follow some of the tennis trades. I know some DRT members have really grasped, and are profiting from, tennis trading.
It really is a great skill to have, to complement the DRT football trading. I am going to spend this summer following the tennis for a concerted period of time (normally I reserve tennis trading for the Grand Slams), and by the end of the summer I hope to have collected enough examples to put together in a manual for you.
The centre pages of the manual, of course, will be dedicated to Anna Kournikova and Gabriella Sabbatini. I hope you won’t mind me that small indulgence.
I think I have shown over time on Twitter @drtclub that my approach to tennis trading does work and profit consistently.
The one main area I need to work on (and your suggestions would be most welcome) is what to do when a trade goes against you.
What are we going to do, say, in the case of a Karen Khachanov beating Tomas Berdych in three straight sets? When do we admit that today is not the day for red-hot favourite Tomas?
Traditionally my view on this was to negate the problem by delaying. For example, I would advocate laying Karen Khachanov, say at 2-0 up and having broken Tomas in the third set.
Then, and only then, lay Karen at ultra-short odds and accept the small liability loss if he goes on to win (as he should).
Other ways to manage a trade which goes against you? Have a pre-determined get-out point. Say 20 ‘ticks’ from the point at which you entered the market.
If we layed Karen above at 1.5 but his odds rise to 1.7, that is 20 ‘ticks’. Take the hit.
This is all something I will have a good think about over the summer.
Football returns this weekend with the Internationals. We have a set of World Cup qualifiers and these can be good for trading.
I do have an engagement with my family on my return this weekend, so may not be able to do a live chat, but if that engagement is not forthcoming, I will be happily ensconced in front of a PC, trading away!
Have a great weekend and please let me know your thoughts on managing tennis trades which go against you!