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Here we hear from a multi-platform football trader who was very careful and strategic in his preparation for Footstock. Read on to pick up some tips, inspiration and learn how he turned £10k into £20k in a short amount of time!
From reading this myself, I will be looking more closely at the rewards system, and I will be chucking a few Maupays into the roulette!
Thanks goes to SSR for sending this in! If you have any
Making £10k in my first month on Footstock
Friday 24th April 2020. The day I finally took the plunge and signed up to Footstock. 4 weeks later, I am now sitting on a £10k profit. Happy days! In this article, I will run you through my Footstock journey including an overview of my strategies, winnings and overall experience.
The Research Phase
As with any new platform, my first step is to always get an understanding of the product. 2 days before signing up, I spent 6-8 hours reading blogs, articles and listening to podcasts. I joined Slack and simply read the messages even before opening my Footstock account. I gained valuable knowledge and insights which enabled me to avoid newbie mistakes. I wanted to be efficient and profitable from day 1.
The Strategy Phase
(Editor plug- go to Insight 5 and take our strategy personality test to help you find your edge!)
Once I gained a better understanding of the platform, I then devised a plan including short-term and long-term goals. The main question I asked myself was, how was I going to make money? The revenue streams I identified were trading, capital appreciation, tournament dividends, roulette and rewards.
Short-term Trading (“flipping”)
Buy low, sell high. Flipping is thrilling, but also time consuming. The key here is to make use of the order books and the spreads on offer. The higher the spread, the bigger the profits potential. Suitable players are those with high volatility and split opinions from the market. This allows you to both buy and sell within a short space of time. Profitable trades are always on offer, both at the top and bottom end of the market.
Buy low, hold, keep holding, sell high. Promising youngsters will get the biggest rises as they are cheap and will have a long career. I read scout articles and watched clips to identify those youngsters. Next I looked at players which were undervalued by the market, due to injuries or loss of form, but in the long run have high potential to hit big PPG scores.
Football is a dynamic sport with constant change in tactics and style meaning players’ performance will vary. The key is having the skill to spot these changes early. A final way to approach capital appreciation is this – it doesn’t matter what you think, it’s what you think others will think.
See the cap app on these two examples:
Time to play FPL. My first month on Footstock was based on Virtuals tournaments only. I figured out how the Virtuals Footstock engine was built and picked players for tournaments accordingly. I entered a variety of teams per each tournament type to manage risk. Building a winning team is a whole article in itself, but my main strategy was to pick players with a good base, frequent goal scorers and winning team players.
Spin the wheel, with a touch of skill. Both peer-to-peer and house roulette can be profitable if you find an edge and stay disciplined. I delved into the stats spreadsheet and identified players with a broad range of stats along with some high scores. There were good days and bad days, but ultimately the maths paid off.
I also found strikers to be very profitable on house roulette, as high priced players tend to do well in goals and assists only compared to the other 22 stats. I must also stressed that you need to protect your bankroll and don’t do your 15 spins a day due to the higher 99p and £1.49 cost. There is always tomorrow.
Freebies baby. This was a big part of my strategy as I find the incentives that Footstock offer to be very generous. The 2 main types of rewards are discounts on packs and free cards for holding a certain amount of cards. I quickly achieved the ‘Win money in tournaments’ challenge through 1*/2* roulette, and bought lots of players for capital appreciation mainly, but with the added benefits of obtaining rewards.
Also, I strategically planned ahead to hit targets for various categories, e.g. buying a player who I knew would move up a category on a certain date. Buying discounted packs gave me value overall and I then repeated the cycle.
The Winning Phase
Through the above strategies and the organic market growth, I turned a £10k scattered deposit into £20k by the end of my first month. I achieved consistent decent tournament finishes whilst also churning out massive growth in undervalued players. During high market volatility periods, I stuck to my strategies, enjoyed the boom and bought the dip. Where there is chaos, there are opportunities.
I have thoroughly enjoyed my overall experience on Footstock. The Slack and Twitter community is absolutely amazing. The Footstock team is truly fantastic with their caring and speedy customer service, and their constant will to listen to user feedback and innovate the platform. Looking ahead, I see huge potential in the platform as it is still in its early life cycle. I hope to carry on growing my collection value through tournament winnings and capital appreciation.
For Footstock content and interaction, you can find me on Twitter (@SportStackRich). If you haven’t signed up yet, you can do so using this link to grab yourself a very generous starting pack. I wish you all the very best on your Footstock journey and may the growth continue.
The main difference between Rich and I (read my beginners article HERE) is our approach leading into our journey. Rich has perhaps taken the sensible approach and researched first to avoid mistakes etc. Whereas I like to make mistakes and learn from them. Looking at his results, ignore me and do the research! It’s a great start and having spoken to him, it was no quick wham bam thank you mam foray into the product, highlighted by his £0 withdrawals. Many having doubled their money so fast that they would have one eye on ‘de-risking’. Each to their own- but more money in the platform, if you believe in it and are successful, means exponential gains.
In terms of the strategies; very similar to how I trade on other platforms (e.g. Football Index) and how I see my journey developing on Footstock. Of the strategies, the one I’ve observed as the most profitable will be trading. Footstock run an open order book system where buyers and sellers are unrestricted as to what price they can bid/list at. If you are patient on both, you can pick up a bargain, slap on a markup and wait. My understanding is that cards are individually valued at the current highest bid – this can lead to huge volatility driven by fixture/form/fitness/category/inactive etc where there is volatility there is opportunity.
Important to remember though, this is a growing market that is booming in the absence of football, the real fun will begin when real football returns. There is no need to flip too much in a growing market, well thought out buys now, could be very lucrative if you are willing to hold and in Footstock you can own a card indefinitely. What would someone like Terry, Lampard, Gerard have returned in tournament wins over their whole career?
My only question is about the bankroll on Single Roulette (advising not to use the 99p/£1.49 spins)…I max my spins daily because when you are trying to win a £50 card, or more, with cheap player (in my case a £2 player), I’d happily pay 99p/£1.49 for 10 more goes at it. It is worth reminding people however, you can spend that money on a spin and end up facing a 15p card. It is totally random; you cannot choose which cards you face (other than that it is always someone of the same position as the card you put forward). Also, if you lose, you lose the card as well as the cost of the spin.
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