This is what i try and do, if this and that happen ill get involved, only for it to start, me to get involved and it reverses straight away for 20 ticksjamesg46 wrote: ↑Thu Nov 19, 2020 5:21 pmYes, you can anticipate something but to take part in that anticipation wait for it to play out before your eyes, if what you're thinking will happen actually is happening then get involved.goat68 wrote: ↑Thu Nov 19, 2020 5:17 pmAh got you ! Basically don't put an order down there, wait for it to get there then evaluatejamesg46 wrote: ↑Thu Nov 19, 2020 5:14 pm
It doesn't matter what you would do, you're saying that the support and resistance levels are not holding up... what I'm saying is, that cant have any impact if you don't have money waiting in the market on an anticipated fairy tale in your head. Instead wait for it to prove what you're anticipating and then take part. Laying at 6 could of worked, I don't remeber but if you have money in the market on a shit thinly traded race then there is every chance it could go straight past the bottom of the range, if you haven't got money waiting at those levels and it goes through then oh well, so be it, move on to the next fairy tale.
Trading What I see !?
Such is life/trading, the markets will do what they damn pleaseBubace wrote: ↑Thu Nov 19, 2020 5:37 pmThis is what i try and do, if this and that happen ill get involved, only for it to start, me to get involved and it reverses straight away for 20 ticks
My point to Goat is that if I'm anticipating a bounce off of 5.5 and I enter money at that price to lay and it comes, takes my money and goes straight through me then its likely I'll lose 3, 4 or more ticks before I've even registered whats happening, then if you're gonna sit and hope it comes back in your favour its likely you'll lose more. If I wait until it gets to 5.5 and it starts to bounce then I can enter, if it fails then I sure as hell know that 5.5 is my get out point, if my entry was 5.6 or 5.7 then I've already limited my losing trades just by not having money waiting.
Hi guys.
This is my first post on the forum so please go easy on me
Really enjoying this thread although i have not got to the end of it yet. I am an inexperienced racing trader but quite a lot of experience in the financial world.
I fully appreciate that your success at this game is going to be very dependent on getting more winning trades than losing ones and protecting your downside when you get it wrong. That being so, it is interesting to read some posters talk about being prepared to lose 3-4 ticks in the hope of winning a higher number to the upside. I totally get that but would point out that P/L is not determined by ticks, it is determined by amounts of money. It will often be the case that the value of a tick to the downside is different to the that you will achieve to the upside (crossover point). Zooming out a bit further, you may lose three ticks on two different trades but lose significantly different amounts. If you lose three ticks below evens
you will lose 0.03 but lose three ticks above 10 and you will lose 1.5 points. I know that this is obvious stuff but you must not lose sight of it otherwise you could end up with a very high strike rate, but small or negative, P&L
This is my first post on the forum so please go easy on me
Really enjoying this thread although i have not got to the end of it yet. I am an inexperienced racing trader but quite a lot of experience in the financial world.
I fully appreciate that your success at this game is going to be very dependent on getting more winning trades than losing ones and protecting your downside when you get it wrong. That being so, it is interesting to read some posters talk about being prepared to lose 3-4 ticks in the hope of winning a higher number to the upside. I totally get that but would point out that P/L is not determined by ticks, it is determined by amounts of money. It will often be the case that the value of a tick to the downside is different to the that you will achieve to the upside (crossover point). Zooming out a bit further, you may lose three ticks on two different trades but lose significantly different amounts. If you lose three ticks below evens
you will lose 0.03 but lose three ticks above 10 and you will lose 1.5 points. I know that this is obvious stuff but you must not lose sight of it otherwise you could end up with a very high strike rate, but small or negative, P&L
Hi mate,conners wrote: ↑Fri Nov 20, 2020 4:57 pmHi guys.
This is my first post on the forum so please go easy on me
Really enjoying this thread although i have not got to the end of it yet. I am an inexperienced racing trader but quite a lot of experience in the financial world.
I fully appreciate that your success at this game is going to be very dependent on getting more winning trades than losing ones and protecting your downside when you get it wrong. That being so, it is interesting to read some posters talk about being prepared to lose 3-4 ticks in the hope of winning a higher number to the upside. I totally get that but would point out that P/L is not determined by ticks, it is determined by amounts of money. It will often be the case that the value of a tick to the downside is different to the that you will achieve to the upside (crossover point). Zooming out a bit further, you may lose three ticks on two different trades but lose significantly different amounts. If you lose three ticks below evens
you will lose 0.03 but lose three ticks above 10 and you will lose 1.5 points. I know that this is obvious stuff but you must not lose sight of it otherwise you could end up with a very high strike rate, but small or negative, P&L
Thats part of the reason I use auto stake tick size. I do use flat stakes across the board sometimes like when I'm trading a competitive handicap. But Mdn's, Nov etc with a shortie I use auto stake. When I first started out it was alway tick size this and tick size that, and I could never work out why I had strike rates of between 70-80% but I was still losing money. then it clicked and so far so good.
But that is just the way it suits me and I accept that everyone trades differently and if we all did the same we wouldn't have a market. So each to their own.
Why am i actually getting worse?
ive bee doing this 6 months now, and in no way am i expecting to be profitable or have it nailed after this long, i was hoping to see some improvement
but the opposite seems to be true, the more im trying to learn, the more notes and rewatching my trades back i do, the more understanding i think i have about trading in general, the worse i get
ironically my best ever week still is my first ever week where id never even seen a ladder in my life before, {thought id cracked the easy life }
ive bee doing this 6 months now, and in no way am i expecting to be profitable or have it nailed after this long, i was hoping to see some improvement
but the opposite seems to be true, the more im trying to learn, the more notes and rewatching my trades back i do, the more understanding i think i have about trading in general, the worse i get
ironically my best ever week still is my first ever week where id never even seen a ladder in my life before, {thought id cracked the easy life }
I feel the same after 2.5 years of trading 7 days most weeks. This week another £250 down to add to the -£10k totalBubace wrote: ↑Mon Dec 14, 2020 5:38 pmWhy am i actually getting worse?
ive bee doing this 6 months now, and in no way am i expecting to be profitable or have it nailed after this long, i was hoping to see some improvement
but the opposite seems to be true, the more im trying to learn, the more notes and rewatching my trades back i do, the more understanding i think i have about trading in general, the worse i get
ironically my best ever week still is my first ever week where id never even seen a ladder in my life before, {thought id cracked the easy life }
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When looking back at your trades at the end of the day you've got to ask yourself how many of them you were in control of.
When you're in control of a trade it doesn't guarantee you'll make a profit but you at least know why you did what you did and the rationale behind your decisions. The ones you're not in control of are the ones that eat into your bank and result in big losses.
It only takes one trade that you're not in control of to turn a profitable day into a losing day.
When you're in control of a trade it doesn't guarantee you'll make a profit but you at least know why you did what you did and the rationale behind your decisions. The ones you're not in control of are the ones that eat into your bank and result in big losses.
It only takes one trade that you're not in control of to turn a profitable day into a losing day.
That doesn't fill me with confidence! Im not using massive stakes, im only down about £150 in 6 monthsalexmr2 wrote: ↑Mon Dec 14, 2020 6:47 pmI feel the same after 2.5 years of trading 7 days most weeks. This week another £250 down to add to the -£10k totalBubace wrote: ↑Mon Dec 14, 2020 5:38 pmWhy am i actually getting worse?
ive bee doing this 6 months now, and in no way am i expecting to be profitable or have it nailed after this long, i was hoping to see some improvement
but the opposite seems to be true, the more im trying to learn, the more notes and rewatching my trades back i do, the more understanding i think i have about trading in general, the worse i get
ironically my best ever week still is my first ever week where id never even seen a ladder in my life before, {thought id cracked the easy life }
I think I've been lucky then, I totted up my overall losses this year and I'm only -£150, however that is only because of two lucky leaving inplay gambles that netted about £300...alexmr2 wrote: ↑Mon Dec 14, 2020 6:47 pmI feel the same after 2.5 years of trading 7 days most weeks. This week another £250 down to add to the -£10k totalBubace wrote: ↑Mon Dec 14, 2020 5:38 pmWhy am i actually getting worse?
ive bee doing this 6 months now, and in no way am i expecting to be profitable or have it nailed after this long, i was hoping to see some improvement
but the opposite seems to be true, the more im trying to learn, the more notes and rewatching my trades back i do, the more understanding i think i have about trading in general, the worse i get
ironically my best ever week still is my first ever week where id never even seen a ladder in my life before, {thought id cracked the easy life }
I did some more research over the weekend and I really think I am personally not suited to manual trading, it seems you've got to pick what suits yourself, and for me since I am a programmer, that's Automation..
Hence my questions about PC from pure Automation. So I am hoping 6months of manual experience is going to help me, we shall see...
Good luck for 2021 chaps
I was around the same 6 months in because I used practice mode for the first few months, then I went to live with £100 bank trading every day I would usually make some progress then have a big drawdown. About 15k markets experience now I moved up to £200 bank so I could have good progress like 2 weeks in profit but as soon as I scale up then I start having big losing days after losing daysBubace wrote: ↑Mon Dec 14, 2020 8:10 pmThat doesn't fill me with confidence! Im not using massive stakes, im only down about £150 in 6 monthsalexmr2 wrote: ↑Mon Dec 14, 2020 6:47 pmI feel the same after 2.5 years of trading 7 days most weeks. This week another £250 down to add to the -£10k totalBubace wrote: ↑Mon Dec 14, 2020 5:38 pmWhy am i actually getting worse?
ive bee doing this 6 months now, and in no way am i expecting to be profitable or have it nailed after this long, i was hoping to see some improvement
but the opposite seems to be true, the more im trying to learn, the more notes and rewatching my trades back i do, the more understanding i think i have about trading in general, the worse i get
ironically my best ever week still is my first ever week where id never even seen a ladder in my life before, {thought id cracked the easy life }
Not every strategy is scalable. If you have a tiny edge it will go off pretty quickly once you scale it up due to partial matched bets.alexmr2 wrote: ↑Tue Dec 15, 2020 4:48 pmI was around the same 6 months in because I used practice mode for the first few months, then I went to live with £100 bank trading every day I would usually make some progress then have a big drawdown. About 15k markets experience now I moved up to £200 bank so I could have good progress like 2 weeks in profit but as soon as I scale up then I start having big losing days after losing days