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Five Tips to Enjoy Profitable Football Trading

Without a doubt, football is one of the most popular sports in sports trading. We can attribute its popularity to so many reasons, but it is profitable. Football also comes with so many options and dynamics that favor it over other sports.

If you are looking to start, or you already do football trading, then we have something for you. You will find five tips, from top experts, on how you can stay afloat in football trading. Let’s go.

Always Have A Strategy

Source: freepik.com

This is the most important tip, and it applies to even sports outside football. Any trader without a strategy is inviting losses; it is an utmost act of indiscipline. It is impossible to win consistently if you lack a solid strategy; it won't end well in the long run.

Since there are several strategies, sticking to one can sometimes be difficult. No matter how tempting it is, always stick to one. 

The only exception is when you are searching for what works for you. In that case, you can try out the available ones, but once you find what works for it, apply it diligently. Sticking to one strategy prevents ambiguity, and in sports trading, simplicity is key.

Risk to Reward is King

Source: freepik.com

It is impossible to overemphasize that risk to reward is king in trading. Why do we say so? It is because you will surely get losses. A profitable strategy only increases your winning probability; it does not get rid of losses. No strategy is a holy grail, so your trades will be a random distribution of wins and losses. 

When you encounter losses, a good risk to reward comes to your rescue. Imagine that for every £1 you risk on a trade, your gain is £3; it implies that your risk to reward is 1:3. Let’s place this ratio on a sample of ten trades.

With a ratio of 1:3, if you win only four trades and you lose six, you remain profitable. Let's do the maths; for your four wins, you gain £3 each, making £12. For the six losses, you lose £1 each, making £6. You still end up with £6; you agree that risk to reward is king now, don't you?

Stay Away From Emotions

Football is a very unpredictable sport that could easily trigger your emotions. Emotional trading has led to the downfall of several traders, and it will continue to do so. The only way to break free is to get rid of it completely; you cannot last long in football trading with emotions.

Emotional traders cut their profits and leave their losses to run rather than doing the opposite. You are susceptible to many mistakes when your emotions are present, especially in live trading. It is not easy but detaches yourself gradually, and you will be free.

Do Selective Trading

You have everything right; you have a strategy, good risk to reward, and zero emotions; you still need to be selective. In football trading, you don't have to pick every game your strategy applies to.

To be consistently profitable, you need to be highly selective. Pick only high probability games; there is no need to trade every day. If you were to trade every day, there are endless football games to choose from, but they won't end well in the long run. Frustration will set in when losses come, and you will start overtrading while hunting for one win.

Setting trade criteria would help in promoting selective trading. So if a particular match does not meet your personalized criteria, you won't trade it.

Have a Set Risk Per Trade

It is impossible to trade without risk; the aim is to make maximum profit with the minimum possible risk. What we advise is that you have a set risk percentage per trade. Having this simple plan would save you a lot when you lose.

Profitability is inevitable with a fixed percentage risk and good risk to reward. Never stake your whole portfolio on a trade if you truly want to last long in the markets. 

Conclusion

We should add that you should already have a strategy before applying these tips. Our tips are not standalone, and we assume that you already have a plan in the markets. If that is the case, you will see the difference in your trading henceforth.

You should also remember that losses are inevitable. Use a tested and trusted strategy with a good risk to reward; you will never regret it.

This article was prepared by Emmanuel Omoloyin from TheTrader team. The aim of this start-up is to popularise sports trading, explain hard things with ease and tell the reader how to get profit from it.