Last Ever Post....Its been Hell... I have to admit it. Goodbye.

The sport of kings.
Post Reply
User avatar
xtrader16
Posts: 411
Joined: Sun Feb 26, 2017 1:00 pm

As I sit here writing this I am a worse trader than I was 3 years ago. I started off with Matt Finnegan’s Pro X traders which i enjoyed up to a point. To be honest its a great service for people who are getting started off in Betfair Trading no idea if it still exisits. He taught me a lot but I never progressed after I left. I like to think I’m not stupid but the amount of cash I've poured into this over the years leads me to realise something different. I’m not complaining I am 100% responsible for my own actions.

I’ve been with Bet Angel now for 8 years. I was profitable whilst in AR's sports betting but since leaving there I have gone downhill. I’m quitting trading today and going back to my day job. My real problem is I am inherently lazy and just don’t learn from my mistakes. I can make a profit under small stakes, but I cannot scale it up to £300+ stakes. I also cannot stop going IR when facing a losing position as the gambler within me cannot stop (I've tried everything). I've hidden my losses from my wife, if she knew how much I’ve lost she would divorce me. LOL but enough is enough.

I’ve used MACD - MA - Value - Volume - Advanced graphs - excel.....everything you can possible think of. I probably know more about trading than most people except I cannot get it into practice. I’m all over the place. Its been hell but I’ve enjoyed it. The Primary reason I always wanted to learn to trade was I wanted to go and live in Thailand for the winter and be able to pay my own way out there over 4-5 months, £100 a day target. Looks like that’s not going to happen.

Anyway, this post gives me closure. It’s a sad end to what was an aspirational hope. I have to admit - I failed.

To cheer myself up and in recognition I will have more cash in my pocket I’m going to buy myself a Tesla Model Y when the come out next month. I’m not skint by any means. I’ve just decided I cannot lie to myself anymore. What I needed was a mentor who could guide me, but I never found one. Not one who knew more than me anyway. So, if anybody needs to know anything hit me up on the direct messages and I will help you out on your journey - you'd be surprised at what I know. I will genuinely try to help you out.

Im not whingeing or look for sympathy I've just had what alcoholics refer to as a moment of clarity. Good Luck with your trading.
User avatar
Derek27
Posts: 23477
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

Sorry to hear that xtrader. Good luck with whatever you do next. I'm sure your experience in trading will be of benefit in the future.
Emmson
Posts: 3363
Joined: Mon Feb 29, 2016 6:47 pm

Good luck with your future projects XT
User avatar
Crazyskier
Posts: 1157
Joined: Sat Feb 06, 2016 6:36 pm

I'd take the 3 (multi-coat red with white interior, please) over the Y, but good luck in whatever the 'day job' is anyway.

CS
User avatar
xtrader16
Posts: 411
Joined: Sun Feb 26, 2017 1:00 pm

Ive changed my mind.....you havnt failed until you give up.

https://www.youtube.com/watch?v=PVDH3MX4MYI
Trader Pat
Posts: 4327
Joined: Tue Oct 25, 2016 12:50 pm

xtrader16 wrote:
Mon Oct 11, 2021 3:21 pm
My real problem is I am inherently lazy and just don’t learn from my mistakes.
xtrader16 wrote:
Mon Oct 11, 2021 3:21 pm
I also cannot stop going IR when facing a losing position as the gambler within me cannot stop (I've tried everything). I've hidden my losses from my wife, if she knew how much I’ve lost she would divorce me. LOL but enough is enough.
xtrader16 wrote:
Mon Oct 11, 2021 3:21 pm
What I needed was a mentor who could guide me, but I never found one.
Sorry to hear that X but it was always doomed to failure going by the top two statements. If you are lazy and can't stop going in play then even with Peter Webb himself as your mentor it was never going to work.

I had similiar problems with going in running before when I started out trading, I think its much tougher for those of us who come from a gambling background. What that experience thought me was the only type of intelligence that matters when manually trading is emotional intelligence. When you start automating your trading then you need good logic skills but they can be learnt, I found emotional intelligence much harder to acquire.

Out of curiosity what were you going to do with your wife when you were in Thailand for the winter? :)
User avatar
xtrader16
Posts: 411
Joined: Sun Feb 26, 2017 1:00 pm

Thanks for all the advice but reading my final post made me realise there was something I missed. that was right in front of me at all the time. Can you see it?

She comes with me to Thailand Pat. Weve been going all over Asia for the past 20 years. We know Asia as well as we know our own Cities. funny thing to say, but true. I speak enough Thai to get by as well.

But im not leaving...I've changed my mind. Im going to make a sucess of this if it kills.

https://www.youtube.com/watch?v=PVDH3MX4MYI
Trader Pat
Posts: 4327
Joined: Tue Oct 25, 2016 12:50 pm

xtrader16 wrote:
Mon Oct 11, 2021 6:25 pm
Thanks for all the advice but reading my final post made me realise there was something I missed. that was right in front of me at all the time. Can you see it?

She comes with me to Thailand Pat. Weve been going all over Asia for the past 20 years. We know Asia as well as we know our own Cities. funny thing to say, but true. I speak enough Thai to get by as well.

But im not leaving...I've changed my mind. Im going to make a sucess of this if it kills.

https://www.youtube.com/watch?v=PVDH3MX4MYI
Good luck to you both 👍
zippus
Posts: 181
Joined: Thu Jun 13, 2019 3:19 pm

There's so much in this post that resonates with me and hats off for being so honest. I'm in a similar place having poured significant money into this over the past few years. I'm confident (or possibly arrogant) enough to believe I can make a go of it. My issue is my emotions - I'm awful after a bad day, I go down the pub and end up losing my shirt.

I wish you all the best and hope you make a go of whatever you're trying to achieve.
User avatar
alexmr2
Posts: 766
Joined: Wed Sep 26, 2018 12:32 am

I can relate to this having undestimated what it would take, it always felt like profitability was around the corner even a couple of months into my journey but now that's 3 years to no avail. My lifetime P&L makes me feel sick and the time I've spent to still be losing money is heartbreaking.

I think the pre-off markets are far more difficult now than a few years ago

Just have to look at the positives like that you have probably learned a lot from from the experience, you gave it a good go and that overall you are still in a good position financially + money isn't everything
Last edited by alexmr2 on Mon Oct 11, 2021 8:00 pm, edited 1 time in total.
User avatar
Realrocknrolla
Posts: 1903
Joined: Fri Jun 05, 2020 7:15 pm

No such thing as losing.

Only learning.
User avatar
Tuco
Posts: 727
Joined: Wed Apr 15, 2009 1:43 pm

...a few thoughts for you X - good luck in your next venture:

“Success is the ability to go from one failure to failure with no loss of enthusiasm”

“Wherever you go, no matter what the weather, always take your own sunshine”

“You always pass failure on the way to success”

“The rings of Saturn are composed entirely of lost airline luggage”

“Good judgment comes from experience ~ Experience comes from poor judgment”

“When life's path is steep, remember to keep your mind even”

“You have succeeded in life when all you really want is only what you really need”
User avatar
xtrader16
Posts: 411
Joined: Sun Feb 26, 2017 1:00 pm

Here is my P&L sheet since posting my resignation letter @ 15:20 - I sat there and read through it and realised what has been missing. I traded a few more a races with lower stakes and here are the results. Maybe there is light at the end of the tunnel.
You do not have the required permissions to view the files attached to this post.
User avatar
ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

xtrader16 wrote:
Mon Oct 11, 2021 3:21 pm
I've hidden my losses from my wife, if she knew how much I’ve lost she would divorce me. LOL but enough is enough.
I wish you health wealth and happiness xtrader.

I've highlighted that sentence for others. I see that as a MASSIVE mistake, especially if you can't trust yourself you must be accountable to someone. I might be odd but I used to go through my account line by line with my Mrs every Friday....it keeps you honest with yourself and you certainly think twice about going IP when you know you'll have to explain it. That's what mentoring is imo, having someone you have to justify your actions too.

Live long and prosper xtrader....there's more to life that sitting looking at a screen anyway so enjoy it.
User avatar
xtrader16
Posts: 411
Joined: Sun Feb 26, 2017 1:00 pm

Yer.....thanks Shaun. I think if I asked my wife to go through my Betfair account she'd divorce me anyway. I only ever use exposable income and nothing ever goes unpaid, its better than drinking or having a drug habit. I dont have any kids or a mortgage.

On another topic, speaking to a lot of traders on the forum I am starting to wonder how many people are making a profit on their 30 day P&L. We never really see peoples P&L and im starting to believe that 80%+ are not in profit over the last 30 days.

I am £2100 down over the past 3 months. It represents about 25% of my total exposable funds after all my bills are paid. This is down to me making a profit on 5 out of 7 days and then smashing the account up on one race, several times over 3 months. Going IR is a real issue for me I need to nail it down.

There you go. I've got nothing to hide from anybody - except the missus. :)
You do not have the required permissions to view the files attached to this post.
Post Reply

Return to “Trading Horse racing”