As I wrote a short while ago, I'm in the process of getting my feet wet again in the trading game. This was inspired by a very good article on Punt.com, which discussed basically the merits of betting against the tide, and getting yourself into positions where you can make big profits if the market takes an 'unexpected' turn (ie the team who look like winning don't) and make only a small loss otherwise.
Yesterday I had a look at the Second Test between England and New Zealand, and the Kiwis were something like 140-4, with Flynn also having just retired after being hit in the mouth. So I thought this might be a good time to bet against the tide, and layed England. Well so far NZ haven't dropped another wicket, plus play finished early yesterday due to bad light, and England are now over a point higher than when I layed them, woo!
Unfortunately I'm only involved with very minor stakes, given my dreadful form with trading before I had a break. Anyhow, it's good to have made a decent trade for once.
I still haven't greened up though; I think I'll wait and see what happens in the rest of NZ's innings.
Expect to read later on how I made a stupid big bet and lost everything.
-J
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