Trading What I see !?

[Maturin]

Hi Goat yes I got pushed out of the market even though my original idea was correct. Would have been a nice trade. It's a fine line between bailing out and riding it out!

I'm currently on the drift on the fave in the 20:15 - redeeming myself a little (so far).

[Derek27]

FFS market beat me up Chelm 19:45,

Recreational gamblers get immensely frustrated when the horse they back falls at the last when clear but professionals or punters/traders that want to adopt a professional attitude have to take it in their stride and accept it will happen frequently. Nobody bats an eyelid when three buses pull up at the same stop. If the market goes badly against you just look at the chart, recall what you were thinking and use the benefit of hindsight to improve your opening positions.

FFS should be removed from the trader's vocabulary when talking about your own trading or other traders playing within the rules.

[Trader Pat]

Must remember ignore ladder money, ignore charts, so what the hell can I base a trade on??

I don't know where you got the idea to ignore ladder money but that's a fundamental error when trading horse racing markets, 90% of your focus should be on the ladder of the runner you're trading.

[goat68]

Hmmm well that was wrong
Again I thought ladder confirmed my lay at 5mins, it didn't!

[Maturin]

When I said I was redeeming myself.....I lied

[Maturin]

That's probably my most frequent error - nicely in profit on the drifting fave, which then crashed back in at the end and I don't get out in time.

[goat68]

Seems best trade today was to go the opposite of the WOM

[goat68]

You've got to remember I've only been doing this 6 months, so I don't know what my edge is yet and no one is going to give me one, hence I'm just experimenting until I find one!

[goat68]

Must remember ignore ladder money, ignore charts, so what the hell can I base a trade on??

I don't know where you got the idea to ignore ladder money but that's a fundamental error when trading horse racing markets, 90% of your focus should be on the ladder of the runner you're trading.

But it just beats you up, it goes up up down a bit, loads of money want up, up, down down down down down down !!

[Trader Pat]

Must remember ignore ladder money, ignore charts, so what the hell can I base a trade on??

I don't know where you got the idea to ignore ladder money but that's a fundamental error when trading horse racing markets, 90% of your focus should be on the ladder of the runner you're trading.

But it just beats you up, it goes up up down a bit, loads of money want up, up, down down down down down down !!

You know my opinion I think you're in the market too early and when the money arrives it can catch you out and beat you up so its best to wait and do nothing until you see that action on the ladder. Then when it starts you can make an informed judgement on what you think may happen. What you're doing is your getting involved in the market before this money arrives and there is nothing much happening.

I have to ask if you're ignoring charts and money on the ladder, what are you basing your entries on?

[goat68]

I don't know where you got the idea to ignore ladder money but that's a fundamental error when trading horse racing markets, 90% of your focus should be on the ladder of the runner you're trading.

But it just beats you up, it goes up up down a bit, loads of money want up, up, down down down down down down !!

You know my opinion I think you're in the market too early and when the money arrives it can catch you out and beat you up so its best to wait and do nothing until you see that action on the ladder. Then when it starts you can make an informed judgement on what you think may happen. What you're doing is your getting involved in the market before this money arrives and there is nothing much happening.

I have to ask if you're ignoring charts and money on the ladder, what are you basing your entries on?

I base it on the charts. My comment meant to say everyone says don't base just on charts, that's just an intro...
So I was in at 9mins, given there was reasonable money coming in I thought it seemed reasonable. The sentiment changed at 4mins

[Trader Pat]

But it just beats you up, it goes up up down a bit, loads of money want up, up, down down down down down down !!

You know my opinion I think you're in the market too early and when the money arrives it can catch you out and beat you up so its best to wait and do nothing until you see that action on the ladder. Then when it starts you can make an informed judgement on what you think may happen. What you're doing is your getting involved in the market before this money arrives and there is nothing much happening.

I have to ask if you're ignoring charts and money on the ladder, what are you basing your entries on?

I base it on the charts. My comment meant to say everyone says don't base just on charts, that's just an intro...
So I was in at 9mins, given there was reasonable money coming in I thought it seemed reasonable. The sentiment changed at 4mins

In an evening meeting where there is 30 minutes between races its ok to trade 10 minutes out but you always have to be ready for the rush of money coming into the market. There's no set time for that to happen, could be 4 minutes could be 2 minutes but you'll notice when it arrives that's why you have to be careful how much exposure you already have in the market. During a normal day you can see when the money comes into the market because it coincides with the end of the previous race. Days like today are much harder to read because of clashes so its harder to know when the money will arrive but going forward if you insist on being in the market so early when there are still other races in play at least pay attention to when the previous race finishes so that you can see the money arriving and get a feel for it.

[firlandsfarm]

Actually, I really don't understand the obsession with the prerace market, it must be a British thing, lul, and most of us foreigners that I talked to feel the same.

Hi Kai, sorry but I'm not sure I'm following you ... are you saying most "foreigners" favour the in-running markets?

[auto-matt]

about mindsets

https://www.brainpickings.org/2014/01/2 ... k-mindset/

Great post, have you read the book by any chance and if so would you recommend it?

[Kai]

Actually, I really don't understand the obsession with the prerace market, it must be a British thing, lul, and most of us foreigners that I talked to feel the same.

Hi Kai, sorry but I'm not sure I'm following you ... are you saying most "foreigners" favour the in-running markets?

I meant they favor other sports mostly, hardly a secret. But yeah actually, the Portuguese for example are equally obsessed with the inplay racing market, haven't run into a single prerace trader.