Anybody interested in..

[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

[jamesg46]

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

Thank you Maturin.

I’ll try to respond to your comments in some sort of order but I’ve got no idea how you select paragraphs and then respond to them in a sequence.

I tend to use the charts before and after a trade, I’ll gather my thoughts on what I think might happen based off of the charts before I enter but as soon as I’ve entered I’m laser focused on the ladder (almost tunnel vision) & I’m not sure if that’s a hindrance but I’m aware of it. I use them afterwards for analysis, which is why I’ve put the BF chart on the video capture… it just shows how compressed a view can be.

I do tend to have an exit in mind & I’ll hold (at times) regardless of market pressures (or noise), but this can sometimes get me in huge emotional trouble. If I’ve been in the green for a substantial move and I take nothing before a reversal it leaves me feeling frustrated, as much as my motto is “don’t become your emotions, they’re merely visitors” I can still lose my shit and think that it’s possible to get revenge on the next market.

I’m not sure why I have/had such a strong Lay bias. From day dot I would focus solely on finding Lay positions but it always frustrated me because I could see what I was missing out on… I actually feared being on the back side but I have to say making that effort to back has really helped.

[Maturin]

Agree with being focussed on the ladder, I'm trying to use it much more to get a sense of order flow. At the same time as watching the charts, which is why I have them pinned below each ladder. But I suppose I would say I'm more of a chartist, rightly or wrongly.

The lay bias is certainly interesting. My absolute worst trades occur (occurred hopefully, as I'm getting better at striking this behaviour out) when the facourite has been drifting, and then gets smashed in in the last few minutes. I would think it would still drift because of the lay bias, and end up with a heavy loss.

The way trading affects your thinking, emotions and decision making is just crazy when you consider it!

[jamesg46]

Agree with being focussed on the ladder, I'm trying to use it much more to get a sense of order flow. At the same time as watching the charts, which is why I have them pinned below each ladder. But I suppose I would say I'm more of a chartist, rightly or wrongly.

The lay bias is certainly interesting. My absolute worst trades occur (occurred hopefully, as I'm getting better at striking this behaviour out) when the facourite has been drifting, and then gets smashed in in the last few minutes. I would think it would still drift because of the lay bias, and end up with a heavy loss.

The way trading affects your thinking, emotions and decision making is just crazy when you consider it!

When we think about things it possibly makes much more sense to back, the reason being is that it’s traditional… when you overview the industry, it was built on backing horses so us Lay biased traders are pretty much against the grain of “the norm”. only when it comes to value does it make sense. I think the desire to get on a good thing is much more prevalent than getting on a bad thing (or Laying).

To your last comment in the last paragraph, it helped when I payed attention to one of Peters comments, “the markets literally breath in & out”.

There are some markets where I’ll do what I call “Chasing the fat”. Or basically when the market shoots off in either direction and then returns to the VWAP. You see this over and over again. I call it “Chasing the fat” because of it’s returning to the fat part of the traded volume…. Very creative (I know)

[Maturin]

I'm not sure what it is, but like you, I always seemed to try and find something to lay, rather than back. But that means missing out on steamers etc, though I suppose it's swings and roundabouts. Maybe the crossover points come into it?

Yes I remember Peter's comment about the market breathing in and out, and I'm trying to take advantage of that more. Looking at the ladder more also helps you spot where people are placing money at certain points.

I have VWAP on my chart, but for the type of trading I seem to be best at, and which seems to suit me more, moving averages seem better. Now, if I could only learn to follow my own rules!

[jamesg46]

I'm not sure what it is, but like you, I always seemed to try and find something to lay, rather than back. But that means missing out on steamers etc, though I suppose it's swings and roundabouts. Maybe the crossover points come into it?

Yes I remember Peter's comment about the market breathing in and out, and I'm trying to take advantage of that more. Looking at the ladder more also helps you spot where people are placing money at certain points.

I have VWAP on my chart, but for the type of trading I seem to be best at, and which seems to suit me more, moving averages seem better. Now, if I could only learn to follow my own rules!

If you look at the top of my ladder I’m measuring the distance from VWAP as a % (I know by the labels it’s not clear). Also I do record every market and label them “Through 6.0”, “Through 4.0”, “Through 3.0” etc and when I’m watching back I make a point of observing how any individual runner will trade once it’s broke through.

Anyway, you’ll have to excuse me because I’m a few beers deep, I’ll only end up rambling some incoherent nonsense.

Enjoyed the chat Maturin!

[Kai]

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

https://youtu.be/sFYnHQBG8WQ

Good to see someone posting a trading clip. Read that well James, patient approach, many would probably be fully out halfway there. Maybe in the long run more sensible to average it out slightly to protect the position and your mindset, not always the case but generally I like consistency more over trying to maximize profit which obviously can't always be done, makes trading "easier" from the mental side of things, plus confidence stays higher for the next one.

Btw nothing wrong with preferring to lay, if you feel one side is usually safer it's probably for a good reason (that you can't quantify yet).

[jamesg46]

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

https://youtu.be/sFYnHQBG8WQ

Good to see someone posting a trading clip. Read that well James, patient approach, many would probably be fully out halfway there. Maybe in the long run more sensible to average it out slightly to protect the position and your mindset, not always the case but generally I like consistency more over trying to maximize profit which obviously can't always be done, makes trading "easier" from the mental side of things, plus confidence stays higher for the next one.

Btw nothing wrong with preferring to lay, if you feel one side is usually safer it's probably for a good reason (that you can't quantify yet).

Yes, agree that I should! If it won’t be one of the many other things that could be my downfall, it will be this because I’m very quick to get frustrated when it reverses & I took nothing while I had the chance.

I’m not sure where the OP of the thread has gone but I like this kind of thing and personally hope to see others posting… just because I’m sad and love to watch ladders move up and down all day long.

Absolutely nothing wrong with Laying only it just frustrated me personally. I wanted to make an effort to become a little more ambidextrous.

[decomez6]

patience galore ! well done james.
there is absolutely no way i see more than a £10 profit and stay exposed . i will be closing and reversing that trade for a correction. as a matter of fact my entrance will be where your opening bet is and will close just before the 3.0 or slightly above it
but again your trade is 5 mins out and you have plenty of time ,
like your exit , clean and dry . No stop losses that exposes your exit point , good to keep your positions hidden away from the weight of money botters and traders.

trade hunters.gif

[jamesg46]

patience galore ! well done james.
there is absolutely no way i see more than a £10 profit and stay exposed . i will be closing and reversing that trade for a correction. as a matter of fact my entrance will be where your opening bet is and will close just before the 3.0 or slightly above it
but again your trade is 5 mins out and you have plenty of time ,
like your exit , clean and dry . No stop losses that exposes your exit point , good to keep your positions hidden away from the weight of money botters and traders.


trade hunters.gif

And you would of made money because I think it did trade back up close to 3 at some point. Just goes to show that there is more than one way to get a result.