Should you join a sports trading service that offers you tips via subscription?
This could be a subscription of a weekly, monthly or annual cost and I am sure we have all seen them advertised. There is much debate about this as many like to shout “scam” when someone is selling their tips. The usual argument of “if they are making money why would they need to sell tips too?” usually crops up but then would you expect someone who does lots of research in order to find an edge to just offer the tips for free??
Today, I am going to look at the pros and cons of joining a sports trading service.
1 – Opportunity to Learn
Surprisingly, you can actually learn a lot from joining a sports trading tips service. Most good tipsters will offer reasoning for doing particular trades and reasons for avoiding particular ones too. Bearing in mind, these guys will usually have done a huge amount of research this can teach you what to look for when making picks yourself. If you are new to trading then making your own picks and knowing exactly what to look for is one of the big problems many newbies face.
One of the main reasons I enjoy and I am still signed up to services such as Football Trading Academy and Goal Profits is the nuggets of info that those service providers often supply. The FTA,in particular, has a newsletter service which will teach you a huge amount if you are new to the game. If you are going to join any service then be sure to join one where you can actually learn the reasons behind the picks.
2- Cuts Down On Research
I know some full time traders that remain subscribed to some services even though they do not literally follow every pick. The main reason is that they know the guys they follow are good and do their research which means less work for them. It is much easier to login into a members area or receive an email with the days picks which can effectively halve your own research if you are stuck for time.
1 – Could Become Reliable On Tips
If you are going to join a service then your main aim should be to work out how that tipster makes his picks so you can replicate it. That is if the tipster is good of course.
If you find yourself just following the picks blindly without any sort of clue as to why they are being made then you will find yourself becoming over reliant on that tipster. What if that service suddenly finished the next day? You would be back to square one, so it is important to join a service you can actually learn from.
2 – Might Lose Money
It is true that not all tipsters you follow are guaranteed to make you money. There might be some that have a brilliant record however this is no guarantee of future performance. It can be frustrating to join a service that loses money as you then lose money from the picks and also the subscription costs. However, there are no risk free guarantees in the world of sports trading and you do have to take risks in order to find the gems. Once again, even if the service is losing money, if you can learn something from it (like which picks not to make!) then its worth it.
If you are unsure about joining a service then you should approach it with the same attitude you would have towards a betting bank. Use money for the subscription that you can afford to lose and sign up for the minimum term of a month to see how it goes. Also, do you due diligence and check online for reviews and other info that can help you decide if it is a service that you will be interested in. For example, we have extensive reviews of football trading academy and goal profits on this very site which should give you all you need to know about those.
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