‘I don’t know when to enter my trade’

This is a really common question that I get asked a lot by traders, here’s what I think on the subject…

I don’t believe there is a right time to enter, because until you’ve tested it you’ll never truly know.

You have to tackle trading like a scientist tackles their problems, they create an idea of it or a question then they try and find out if that was the best way to solve the problem.

The same is true for trading.

Recently I was asked…

‘I mainly look at O1.5 goals, but am not sure when best to enter the market’

Here’s how I advised that person to move forward, I gave them some actionable steps and things to think about.

I said if it were me this is what I would do…

Start tracking some data around this, I would track:

• The Over 1.5 goals price at the start of the match and then every 10 mins in play.

• The Over 1.5 goals price after the first goal.

• The time of the first goal, second goal & third goal.

• The HT and FT score.

Now that might seem a lot of data to collect BUT if you collect that you will then be able to work out the best time to enter.

How I hear you say?

Because if you collect all that data you will be able to know when to enter because you will have data on when the goals are scored, say you had 300 matches where you had all this data you would be able to see the time of the average first goal - so you would be able to enter before that, instead of say entering at the start of the match you might see that entering at 15 mins is better because the first goal is scored 24 mins.

You’d also know the average price at that time as well, which would tell you whether you had value or not.

You could then also work out what the strike rate would have been of entering all 300 at that time and compare that to the other time stamps.

All that would be able to be achieved simply by tracking some key data around the strategy you are using.

The main question for you now is, what are you tracking around your strategies?