Trading What I see !?

The sport of kings.
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goat68
Posts: 703
Joined: Tue Jun 30, 2020 3:53 pm
Location: Hampshire, UK

I'm using £2 stakes...
But darn frustrating 5 losses out of 5 so far
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

5 trades or 5 races?
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Wingnut
Posts: 6
Joined: Mon Nov 16, 2020 10:31 am

goat68 wrote:
Thu Nov 19, 2020 3:34 pm
Wingnut wrote:
Thu Nov 19, 2020 3:32 pm
goat68 wrote:
Thu Nov 19, 2020 3:27 pm
I'm sure one of the main reasons this is so hard is because you have so many novice traders who are basically trading at random, which creates a very random market!
I’m not sure that’s the case. Novice traders will be using smaller stakes so shouldn’t influence the market. So the general direction will be where the “big money” goes. I’m pretty shit at explaining things but hope you get the jist.
Why is the price action so random then?
I traded 10 races yesterday and hit all 10. I'm quite picky when it comes to what I trade. I'm by no means a big player I just follow the money. Haven't traded today as the bloody missus thought it was a good idea to start decorating. However, 100% is a good day for me, I hit anything between high 60's and low 80's. Took me a long time to be able to accept when I'm wrong, but I can cut my losses quite quickly now.

Have you started screen recoding your trading yet?
goat68
Posts: 703
Joined: Tue Jun 30, 2020 3:53 pm
Location: Hampshire, UK

spreadbetting wrote:
Thu Nov 19, 2020 3:47 pm
5 trades or 5 races?
5 races
goat68
Posts: 703
Joined: Tue Jun 30, 2020 3:53 pm
Location: Hampshire, UK

I suspect I shouldn't even have tried the races the last hour or so as the overlap was previous race finishing only 1-2mins before next... thoughts?
jamesg46
Posts: 2218
Joined: Sat Jul 30, 2016 1:05 pm

goat68 wrote:
Thu Nov 19, 2020 3:40 pm
Darn thought I had found a steamer Winc 15:42 sehayli, it was until I got on board at 4mins 😂🤣
Trade what you see, not what you think you're likely to see.

If you have spotted a steamer, it's likely that the majority of the move has already happend.

Funny, both of those seem to contradict one another but,

"When people are being greedy, be fearful & when people are being fearful, be greedy."
Bubace
Posts: 54
Joined: Tue Jul 14, 2020 9:50 pm

goat68 wrote:
Thu Nov 19, 2020 3:52 pm
spreadbetting wrote:
Thu Nov 19, 2020 3:47 pm
5 trades or 5 races?
5 races
Tough day for me today as well, after a run of profitable days, lost the first 5, been better since

frutrating as i spent 4 hours last night updating my results spreadsheet from my notes and watching my trading recordings

from my results theres clearly certain races and scenerios im good at, and others im not, { anything with the word novice in it, and competitive handicaps :o }

after today im going to just stick to what im good at and see what my results look like, ill keep on watching and recording the other races so i can review and make notes, see if i cant find an angle, these races where there are 5 horses all at between 5 and 6 are killing my profits
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jimibt
Posts: 2819
Joined: Mon Nov 30, 2015 6:42 pm

jamesg46 wrote:
Thu Nov 19, 2020 4:01 pm
goat68 wrote:
Thu Nov 19, 2020 3:40 pm
Darn thought I had found a steamer Winc 15:42 sehayli, it was until I got on board at 4mins 😂🤣
Trade what you see, not what you think you're likely to see.

If you have spotted a steamer, it's likely that the majority of the move has already happend.

Funny, both of those seem to contradict one another but,

"When people are being greedy, be fearful & when people are being fearful, be greedy."
ahh -grasshoppa!! :D
goat68
Posts: 703
Joined: Tue Jun 30, 2020 3:53 pm
Location: Hampshire, UK

It's interesting a lot of the big moves are not done on big volume, but they do seem to end with decent volume spikes. I guess that ties in with the fact that most traders miss the main move.
goat68
Posts: 703
Joined: Tue Jun 30, 2020 3:53 pm
Location: Hampshire, UK

jamesg46 wrote:
Thu Nov 19, 2020 4:01 pm
goat68 wrote:
Thu Nov 19, 2020 3:40 pm
Darn thought I had found a steamer Winc 15:42 sehayli, it was until I got on board at 4mins 😂🤣
Trade what you see, not what you think you're likely to see.

If you have spotted a steamer, it's likely that the majority of the move has already happend.

Funny, both of those seem to contradict one another but,

"When people are being greedy, be fearful & when people are being fearful, be greedy."
Your comment basically agrees with what I see in that by the time you see/determine support/resistance/trend it breaks/ends !
You have to magically anticipate it...it's no good saying it's bounced off here 4 times already so it will bounce again... The 5th time it goes straight through!
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