July 2, 2010

QuantSports

QuantSports: one-off review.

This product is not a service, method nor a system. What it is, is an “enabler”. I’ll explain!

Perhaps you have tried trading price movements on Betfair. If you have you’ll have found that Betfair’s charting of prices is damn poor (for a trader). Products like GeekToy, BetAngel and Betting Assistant are only slightly better.

You are, therefore, forced to watch price movement, “Weight of Money” and other strategies to attempt to identify trends, reversals, etc.

Wouldn’t it be really neat if you could use the same charting tools the professional ForEx traders use? Then you could apply Technical Analysis tools such as Scholastic, RSI and MACD (if you don’t know these terms, don’t panic, this tool is still for you).

The professional charting package used here is NinjaTrader, and you can use all the facilities of this powerful tool. QuantSports enables the collection of Betfair prices in real time and displays them on NinjaTrader charts.

NinjaTrader is free, and if you don’t already use Betting Assistant or Bet Angel then Geek Toy is also free. You need these tools to support QuantSports. I use BA as I can set up trades with (trailing) stops, and profit targets with a single click. I understand bet Angel offers similar functionality. I have never used Geek toy.

The product comes with a manual which suggests an initial chart layout, and I have been using a rather neat chart called “The River” as suggested in a QuantSports blog post. There is also a member forum, which I’m sure will be full of useful advice.

Now with “proper” price movement AND volume charts you can spot trends and reversals a whole lot easier. You are only looking for 5 to 10 scalps of about ½ point in 5 to 10 events (pre-race Horses is the most liquid and therefore probably best, don’t use this tool “in running”), and this can provide a sizeable income. This tool gives you a fighting chance!

Remember though, if you are new to this, spend a few weeks learning how to read the charts and start small!

I happy to give this product a thumbs up. It does exactly what it says on the tin. For new traders, or moderate to good experienced traders, I think you will find the edge offered by this tool a “must have”. The next challenge is to find a set of charts that I can use and learn how to read them. But that is a totally different blog!

You can get QuantSports here:

http://www.cash-master.com/quantsports.php

Filed under General,Trading by Arthur

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