Anybody interested in..

[jamesg46]

I've had a long time bias towards the lay side so I've made an effort to look for backing opportunities of late. Here's one from today... feel free to critique a newbie!

https://youtu.be/A3geXnPE-T8

My thoughts after watching this back are that I left a bucket load of opportunity on the table.

I don’t know if through some subconscious thought I exited at 4.7 (I have a lay bias so normally I would probably be looking for a bounce on this) but if I would normally be looking for a bounce then why would I not of done the same this time. Mentally I must of thought my job here is done or something, but I remember watching this at the time and seeing the resistance building at 4.7 & 4.8 - I actually had the conversation in my head at the time.

To sit and watch it bounce back up to 6 is a criminal offence. I had plenty of room to open a trade in the opposite direction with little risk of going negative. I feel this is a bit of a ram raid style trade where I left with only half the goods.

I suppose in hindsight is a wonderful thing.

Thanks for posting your video, it's nice to see peoples different trading styles. You are definitely a lot more patient than me, it's something I'm working on. Don't beat yourself up about the bounce, you got a great return on the trade you did do. I traded the drift on the fave in this race and completely missed the move on the runner you traded.

Do you mind if I ask why you'd chose 4.7 as your closing trade when you did, and if it didn't reach that price what you would have done? I tend to scale out too often, so any advice is greatly appreciated.

I don’t mind. I’ll go through my whole thought process from start to finish.

When I opened the market the first thing I looked at was the drift on the fav (& normally I’d be all over it) but recently I’m making a conscious effort to break my lay bias. I noticed the fav had hit resistance at 3ish and if it broke through that I knew it would likely continue it’s drift. The runner I chose to trade had already traded below it’s current price, bounced and found support around 6 (you can see this in the volume nodes, they tell the story). So if the fav breaks resistance and continues it’s going to lend me a helping hand, if it didn’t then I know I would have to exit. As it happened it did break through and I got the helping hand I needed. The reason I exited at 4.7 is because that’s where the bottom of the traded range was, if it didn’t reach my order I would very possibly held until it had come back to my open position where I would of cut the trade.

I’m not so much as beating myself up over not catching the bounce but rather making a mental note of it so I’m aware.

[kerza]

My thoughts after watching this back are that I left a bucket load of opportunity on the table.

I don’t know if through some subconscious thought I exited at 4.7 (I have a lay bias so normally I would probably be looking for a bounce on this) but if I would normally be looking for a bounce then why would I not of done the same this time. Mentally I must of thought my job here is done or something, but I remember watching this at the time and seeing the resistance building at 4.7 & 4.8 - I actually had the conversation in my head at the time.

To sit and watch it bounce back up to 6 is a criminal offence. I had plenty of room to open a trade in the opposite direction with little risk of going negative. I feel this is a bit of a ram raid style trade where I left with only half the goods.

I suppose in hindsight is a wonderful thing.

Thanks for posting your video, it's nice to see peoples different trading styles. You are definitely a lot more patient than me, it's something I'm working on. Don't beat yourself up about the bounce, you got a great return on the trade you did do. I traded the drift on the fave in this race and completely missed the move on the runner you traded.

Do you mind if I ask why you'd chose 4.7 as your closing trade when you did, and if it didn't reach that price what you would have done? I tend to scale out too often, so any advice is greatly appreciated.

I don’t mind. I’ll go through my whole thought process from start to finish.

When I opened the market the first thing I looked at was the drift on the fav (& normally I’d be all over it) but recently I’m making a conscious effort to break my lay bias. I noticed the fav had hit resistance at 3ish and if it broke through that I knew it would likely continue it’s drift. The runner I chose to trade had already traded below it’s current price, bounced and found support around 6 (you can see this in the volume nodes, they tell the story). So if the fav breaks resistance and continues it’s going to lend me a helping hand, if it didn’t then I know I would have to exit. As it happened it did break through and I got the helping hand I needed. The reason I exited at 4.7 is because that’s where the bottom of the traded range was, if it didn’t reach my order I would very possibly held until it had come back to my open position where I would of cut the trade.

I’m not so much as beating myself up over not catching the bounce but rather making a mental note of it so I’m aware.

That was good of you to share your whole thought process. I've still to watch my recording back of this market, so I'll look out for this move against what I was doing. It's interesting that you would've left the trade open until it reached your entry price if your closing order hadn't been matched - I would have ended up scaling out. I definitely need to work on my patience!

[jamesg46]

Thanks for posting your video, it's nice to see peoples different trading styles. You are definitely a lot more patient than me, it's something I'm working on. Don't beat yourself up about the bounce, you got a great return on the trade you did do. I traded the drift on the fave in this race and completely missed the move on the runner you traded.

Do you mind if I ask why you'd chose 4.7 as your closing trade when you did, and if it didn't reach that price what you would have done? I tend to scale out too often, so any advice is greatly appreciated.

I don’t mind. I’ll go through my whole thought process from start to finish.

When I opened the market the first thing I looked at was the drift on the fav (& normally I’d be all over it) but recently I’m making a conscious effort to break my lay bias. I noticed the fav had hit resistance at 3ish and if it broke through that I knew it would likely continue it’s drift. The runner I chose to trade had already traded below it’s current price, bounced and found support around 6 (you can see this in the volume nodes, they tell the story). So if the fav breaks resistance and continues it’s going to lend me a helping hand, if it didn’t then I know I would have to exit. As it happened it did break through and I got the helping hand I needed. The reason I exited at 4.7 is because that’s where the bottom of the traded range was, if it didn’t reach my order I would very possibly held until it had come back to my open position where I would of cut the trade.

I’m not so much as beating myself up over not catching the bounce but rather making a mental note of it so I’m aware.

That was good of you to share your whole thought process. I've still to watch my recording back of this market, so I'll look out for this move against what I was doing. It's interesting that you would've left the trade open until it reached your entry price if your closing order hadn't been matched - I would have ended up scaling out. I definitely need to work on my patience!

I’ll often scale into trades. I have different stakes setup on different keystrokes so depending on confidence in something continuing I’ll often take a starting position and sell half after 4 or 5 ticks, wait for a pullback and then enter again through the break of the last high selling half after a few ticks before fully exiting. I haven’t traded today so I’ve not got any recordings but I’ve got a decent example where I was doing this exact thing yesterday and it ended up a loss so when I’m home tomorrow I’ll post it up.

[kerza]

I don’t mind. I’ll go through my whole thought process from start to finish.

When I opened the market the first thing I looked at was the drift on the fav (& normally I’d be all over it) but recently I’m making a conscious effort to break my lay bias. I noticed the fav had hit resistance at 3ish and if it broke through that I knew it would likely continue it’s drift. The runner I chose to trade had already traded below it’s current price, bounced and found support around 6 (you can see this in the volume nodes, they tell the story). So if the fav breaks resistance and continues it’s going to lend me a helping hand, if it didn’t then I know I would have to exit. As it happened it did break through and I got the helping hand I needed. The reason I exited at 4.7 is because that’s where the bottom of the traded range was, if it didn’t reach my order I would very possibly held until it had come back to my open position where I would of cut the trade.

I’m not so much as beating myself up over not catching the bounce but rather making a mental note of it so I’m aware.

That was good of you to share your whole thought process. I've still to watch my recording back of this market, so I'll look out for this move against what I was doing. It's interesting that you would've left the trade open until it reached your entry price if your closing order hadn't been matched - I would have ended up scaling out. I definitely need to work on my patience!

I’ll often scale into trades. I have different stakes setup on different keystrokes so depending on confidence in something continuing I’ll often take a starting position and sell half after 4 or 5 ticks, wait for a pullback and then enter again through the break of the last high selling half after a few ticks before fully exiting. I haven’t traded today so I’ve not got any recordings but I’ve got a decent example where I was doing this exact thing yesterday and it ended up a loss so when I’m home tomorrow I’ll post it up.

I sometimes scale in, but most of the time I enter with my full stake. I've always scaled out of my trades though, taking around a third to half out after 3 to 4 ticks and letting the rest run if the conditions remain the same. I also often wait for a pull back to enter but hadn't really used them for adding to a position until recently. Thanks, that'll be interesting to see your recording tomorrow.

[jamesg46]

That was good of you to share your whole thought process. I've still to watch my recording back of this market, so I'll look out for this move against what I was doing. It's interesting that you would've left the trade open until it reached your entry price if your closing order hadn't been matched - I would have ended up scaling out. I definitely need to work on my patience!

I’ll often scale into trades. I have different stakes setup on different keystrokes so depending on confidence in something continuing I’ll often take a starting position and sell half after 4 or 5 ticks, wait for a pullback and then enter again through the break of the last high selling half after a few ticks before fully exiting. I haven’t traded today so I’ve not got any recordings but I’ve got a decent example where I was doing this exact thing yesterday and it ended up a loss so when I’m home tomorrow I’ll post it up.

I sometimes scale in, but most of the time I enter with my full stake. I've always scaled out of my trades though, taking around a third to half out after 3 to 4 ticks and letting the rest run if the conditions remain the same. I also often wait for a pull back to enter but hadn't really used them for adding to a position until recently. Thanks, that'll be interesting to see your recording tomorrow.

I found out a long time back that I tend to act upon instinct without a methodology. I see something & I don’t wait, investigate or see if my theory starts to take shape, I’m just in. Strange because literally within milliseconds I’d have come to some conclusion so for me I’m better off scaling in, least that way my impulsive behaviour is managed effectively within my risk.

[jamesg46]

That was good of you to share your whole thought process. I've still to watch my recording back of this market, so I'll look out for this move against what I was doing. It's interesting that you would've left the trade open until it reached your entry price if your closing order hadn't been matched - I would have ended up scaling out. I definitely need to work on my patience!

I’ll often scale into trades. I have different stakes setup on different keystrokes so depending on confidence in something continuing I’ll often take a starting position and sell half after 4 or 5 ticks, wait for a pullback and then enter again through the break of the last high selling half after a few ticks before fully exiting. I haven’t traded today so I’ve not got any recordings but I’ve got a decent example where I was doing this exact thing yesterday and it ended up a loss so when I’m home tomorrow I’ll post it up.

I sometimes scale in, but most of the time I enter with my full stake. I've always scaled out of my trades though, taking around a third to half out after 3 to 4 ticks and letting the rest run if the conditions remain the same. I also often wait for a pull back to enter but hadn't really used them for adding to a position until recently. Thanks, that'll be interesting to see your recording tomorrow.

As you'll see with my scrolling of the ladder I was hoping for a big move on this & if it had of happened I would of very likely scaled up and down throughout the move. Anyway, I didn't get my way and it ended as a losing trade.

https://youtu.be/6_bkBG514CM

[kerza]

I’ll often scale into trades. I have different stakes setup on different keystrokes so depending on confidence in something continuing I’ll often take a starting position and sell half after 4 or 5 ticks, wait for a pullback and then enter again through the break of the last high selling half after a few ticks before fully exiting. I haven’t traded today so I’ve not got any recordings but I’ve got a decent example where I was doing this exact thing yesterday and it ended up a loss so when I’m home tomorrow I’ll post it up.

I sometimes scale in, but most of the time I enter with my full stake. I've always scaled out of my trades though, taking around a third to half out after 3 to 4 ticks and letting the rest run if the conditions remain the same. I also often wait for a pull back to enter but hadn't really used them for adding to a position until recently. Thanks, that'll be interesting to see your recording tomorrow.

As you'll see with my scrolling of the ladder I was hoping for a big move on this & if it had of happened I would of very likely scaled up and down throughout the move. Anyway, I didn't get my way and it ended as a losing trade.

https://youtu.be/6_bkBG514CM

You traded well in both videos, good execution and discipline, especially with how quick you were out of your losing trade. I'll give scaling in a go and see how I get on with it as I think it will suit me better too. As I said, I do tend to scale out so scaling in as well makes sense.

[jamesg46]

I sometimes scale in, but most of the time I enter with my full stake. I've always scaled out of my trades though, taking around a third to half out after 3 to 4 ticks and letting the rest run if the conditions remain the same. I also often wait for a pull back to enter but hadn't really used them for adding to a position until recently. Thanks, that'll be interesting to see your recording tomorrow.

As you'll see with my scrolling of the ladder I was hoping for a big move on this & if it had of happened I would of very likely scaled up and down throughout the move. Anyway, I didn't get my way and it ended as a losing trade.

https://youtu.be/6_bkBG514CM

You traded well in both videos, good execution and discipline, especially with how quick you were out of your losing trade. I'll give scaling in a go and see how I get on with it as I think it will suit me better too. As I said, I do tend to scale out so scaling in as well makes sense.

I think at around 07:10 was the opportunity for the 2nd entry, you can see the micro pullback happen at that point but my focus was maybe more on where could this go rather than what was happening in that moment.

It’ll be interesting to see/hear how you get on with it & if it makes a difference or has an impact on your patience.

[jamesg46]

From today... a bit of everything to ponder over for me in this one.

I feel that I didn't get what I wanted into or out of this.


https://youtu.be/OsJuj9w8b70

[Realrocknrolla]

From today... a bit of everything to ponder over for me in this one.

I feel that I didn't get what I wanted into or out of this.


https://youtu.be/OsJuj9w8b70

Probably not relevant to the video.

How much do you use your charts? I feel you could add the advanced charts to the bottom of your ladder and use the enhanced area. That still gives you the option of two advanced charts. Then you could possibly add more ladders with a little compression. More ladders means you can see more going on etc unless your rapid with a mouse.

Trivial i know but maybe help you also.

I posted one of my screenshots a while back, since i arranged it that way I catch things I wouldn’t have.

Edit viewtopic.php?f=41&t=24441

[jamesg46]

From today... a bit of everything to ponder over for me in this one.

I feel that I didn't get what I wanted into or out of this.


https://youtu.be/OsJuj9w8b70

Probably not relevant to the video.

How much do you use your charts? I feel you could add the advanced charts to the bottom of your ladder and use the enhanced area. That still gives you the option of two advanced charts. Then you could possibly add more ladders with a little compression. More ladders means you can see more going on etc unless your rapid with a mouse.

Trivial i know but maybe help you also.

I posted one of my screenshots a while back, since i arranged it that way I catch things I wouldn’t have.

I use them more than I'm probably aware. I have more that aren't visible on the recordings (there is 4 in total).

The reason I don't have them at the bottom of my ladder is because my ladder screen is on my laptop and I feel it compresses the ladder too much. I've got 2 bigger monitors that I don't use but I'm just so reluctant to change anything... my eyes are have their routine and I can't change that haha.

[Realrocknrolla]

From today... a bit of everything to ponder over for me in this one.

I feel that I didn't get what I wanted into or out of this.


https://youtu.be/OsJuj9w8b70

Probably not relevant to the video.

How much do you use your charts? I feel you could add the advanced charts to the bottom of your ladder and use the enhanced area. That still gives you the option of two advanced charts. Then you could possibly add more ladders with a little compression. More ladders means you can see more going on etc unless your rapid with a mouse.

Trivial i know but maybe help you also.

I posted one of my screenshots a while back, since i arranged it that way I catch things I wouldn’t have.

I use them more than I'm probably aware. I have more that aren't visible on the recordings (there is 4 in total).

The reason I don't have them at the bottom of my ladder is because my ladder screen is on my laptop and I feel it compresses the ladder too much. I've got 2 bigger monitors that I don't use but I'm just so reluctant to change anything... my eyes are have their routine and I can't change that haha.

Give the bigger monitors a bash. Have the one click screen on one. Guardian on another and the ladder on another. Information information information.

Don’t be a scaredy-cat

[jamesg46]

Probably not relevant to the video.

How much do you use your charts? I feel you could add the advanced charts to the bottom of your ladder and use the enhanced area. That still gives you the option of two advanced charts. Then you could possibly add more ladders with a little compression. More ladders means you can see more going on etc unless your rapid with a mouse.

Trivial i know but maybe help you also.

I posted one of my screenshots a while back, since i arranged it that way I catch things I wouldn’t have.

I use them more than I'm probably aware. I have more that aren't visible on the recordings (there is 4 in total).

The reason I don't have them at the bottom of my ladder is because my ladder screen is on my laptop and I feel it compresses the ladder too much. I've got 2 bigger monitors that I don't use but I'm just so reluctant to change anything... my eyes are have their routine and I can't change that haha.

Give the bigger monitors a bash. Have the one click screen on one. Guardian on another and the ladder on another. Information information information.

Don’t be a scaredy-cat

I probably should but I am actually scared of the adjustment period haha.

[jamesg46]

Not sure if anyone is still interested in doing this but...

https://youtu.be/sFYnHQBG8WQ

Seems I'm making a slow progress against my Lay bias. As before (if interested) I'd love some critique/advise.

[Maturin]

Hi James,

Keep the videos coming, they are useful. I'm also an avid user of charts, though it's taken me a long time to find a chart set up and indicators that I'm happy with (and of course they are not going to work every time). I have an advanced chart at the bottom of each ladder (4 ladders), plus the market overview and the betfair charts on another monitor. I've dabbled in various time frames and I know you have several different charts with different time frames on, but now it's just one for me to try and keep things simple.

I think you traded that well - resisting the temptation to bail when your profit decreased. That's probably one of my biggest issues, getting out too soon, particularly on these types of races which can exhibit longer trends. I made a tiny profit on this race, so well done. Keeping my hand off the mouse is a massive challenge for me in terms of discipline. I also note your use of keyboard shortcuts, that's something I've added and I think it definitely helps - I have several differnt shortcuts all within easy reach of three fingers of my left hand. A good tip for others.

I also agree about the Lay bias, I have that too, and am trying to take steps to not be so afraid of backing. Not sure why this is the case, maybe there is some pyschological reason why some people have that bias?

Maturin