It may not seem that poker players or stock brokers would have a natural inclination for success in daily fantasy football, but you would be wrong in that assumption.
When you analyze successful individuals in any industry, you will often find that there are certain traits and characteristics that separate the top performers from everyone else. Sure, Mark Cuban and Bill Gates may seem like polar opposites at first, but each man is known for their research and avid reading. While personalities and styles may differ, successful people normally have similar principles and practices that allows them to thrive in any environment.
There is a lot that goes into building a winning daily roster, and I don’t want to oversimplify the skill and talent that is required for success. There does, however, seem to be one constant between stocks, poker and daily fantasy: Stock brokers and poker players know how to analyze risk and reward. It may seem like a simple concept, but if you are able to accurately ascertain the risk involved with selecting a player in your lineup, then you have a good chance of consistently profiting.
CNN had a great article about stock market investing tips that I think will help newer players expand their mindset and view when it comes to daily fantasy games. Here are a few lessons from the article.
“Stocks aren’t just pieces of paper.”
“When you buy a share of stock, you are taking a share of ownership in a company. Collectively, the company is owned by all the shareholders, and each share represents a claim on assets and earnings.”
When you put your money on the line, you should view yourself as the CEO of an organization. This isn’t an imaginary team anymore, and if you view it as such, you can watch your real money disappear. You are taking ownership in the fact that you expect the players on your team to produce, and if they don’t, you need to evaluate your decisions as the leader.
“There are many different kinds of stocks.”
“The most common ways to divide the market are by company size (measured by market capitalization), sector, and types of growth patterns. Investors may talk about large-cap vs. small-cap stocks, energy vs. technology stocks, or growth vs. value stocks, for example.”
Are you going to fill your roster with cheap wide receivers that have the potential to catch one deep pass, or are you going to allocate your money to consistent options that average 10 targets a week? Which position are you going to put the most money into? Make sure that you understand how your team is constructed, as well as the value that each position can bring you.
“A great track record does not guarantee strong performance in the future.”
“Stock prices are based on projections of future earnings. A strong track record bodes well, but even the best companies can slip.”
This is one of the best pieces of advice you could receive in any format of fantasy football. Everything from coaching changes to age effect how a player will perform, and other than Drew Brees and Jimmy Graham, most football players are not guaranteed to repeat the same type of success from year to year. Variables serve to throw off your data crunching, and you can’t always count on future accomplishments from previous performances.
You can start your daily fantasy journey here, and hopefully this mindset will give you the edge you need over your opponents. You can also check out this great interview with Kevin English(ranked in the top 5 of salary cap games in 2013) for his thought process behind his decisions.
Categories: Fantasy Football