Early in 2009, whilst serving in the Military, Caan stumbled upon the concept of trading bets to lock in a profit. At first, he didn’t take things seriously, but after a series of life-changing events whilst serving in Afghanistan, and learning he was to be a father upon return, focus shifted to trading bets. A bold but rewarding move, Caan succeeded.
What is your area of expertise and what will your talk be focusing on?
Predominantly I specialise in trading horse racing odds, market sentiment, and market psychology. My route into betting wasn’t through the usual avenues so I’ll share a little insight into the logic that I attribute to my success.
Can you give us a little preview of what you will be talking about at the conference?
How things suddenly turned around for me, that ‘aha’ moment that led to further success, and the thinking I applied to get there. Psychology is another big point for me so there’s no doubt that will come up too.
Tell us briefly how you ended up in the gambling world?
I ended up in the gambling world purely by accident. My whole life my parents had taught me to keep well away from it. However, in 2007 I spent Christmas with a girlfriend’s family where the ritual was to have a bet on Boxing day. Breaking the habit of a lifetime, I had my first bet.
For a year or two after I continued to have the occasional bet.
It wasn’t until 2009 that I approached the markets more seriously. A few personal changes motivated me that bit more, leading into what can only really be described as obsession.
What would you recommend people do to get the most out of the conference?
Make notes to ponder later on. If you’re searching for information to help you succeed, be prepared to read between the lines. Also, network as much as possible. Afterwards especially, mine’s a Kronenbourg!
What are you looking to get out of the Traders Conference?
Trading is typically a solitary activity. It’s always good to get out, network and of course have a beer with like-minded people. You never know when the next piece of the puzzle will click into place.
What would one piece of advice you give to someone wanting to improve their betting/trading?
Treat the task as a longer-term project, formulate a plan, stick to it and keep good results.
Finally, remember that; regardless of what you’re betting on, within every betting market, money is just a representation of other human beings who, are habitual in nature.
How much have you gained over the years from listening to other gamblers and other points of view?
To be honest, I’ve only really learned one or two things from listening to other gamblers talk. Typically I find those who have the most interesting things to say, don’t talk so much. If they do, it’s usually over a quiet drink after events such as the conference. Even then, there’s always a lot of reading between the lines to be done!
At the last Matchbook Traders Conference, I found Prof. Leighton Vaughan Williams talk quite interesting.
What is the best bit of advice you’ve ever been given?
Get your kicks from spending the money, not earning it
I’ve never actually met the person who gave the advice, which is a shame. They used to contribute to one of the software forums online. I respected their input greatly, and probably owe them a pint or two. So many new bettors and traders come into gambling through the love of sport and thrill of having a bet, it’s completely counterproductive.
I believe it’s important to do something you love, but if you’re dealing in risk management for a living, it’s not really a good idea to be acting through impulse or fanaticism.
What is your favorite sport to bet on and why?
Horse racing, it has to be! The only sport where there’s market after market, with so many variables, it’s almost impossible to know the true price.