Today's Horse Racing

[eightbo]

...
Some of my wins I'm thinking if I was on the other side what loss would I have taken?!

You should probably know the answer to that question

[jamesg46]

It was yes, 6.0->4.7 or there abouts

Thanks goat. Sat wondering why it didn't trigger but for little purpose, because i can't go back and check anyway. Chuffed you made it back up come the end of the session...

I actually did amazingly well, that was my only loss, however I feel I may have had my luck side of variance in anticipating direction... Some of my wins I'm thinking if I was on the other side what loss would I have taken?!

That's irrelevant to you, you're simply at any one time in each market imo trying to be objective in a subjective environment.

I've edited because I've just seen eightbo also responded and it seems we both offered contradicting views. To clear that up, we did and eightbo is right, you should already have an idea of your downside.

My comment was more to do with it being after the fact and you're looking back wondering what your losses would have been.

[goat68]

Thanks goat. Sat wondering why it didn't trigger but for little purpose, because i can't go back and check anyway. Chuffed you made it back up come the end of the session...

I actually did amazingly well, that was my only loss, however I feel I may have had my luck side of variance in anticipating direction... Some of my wins I'm thinking if I was on the other side what loss would I have taken?!

That's irrelevant to you, you're simply at any one time in each market imo trying to be objective in a subjective environment.

I've edited because I've just seen eightbo also responded and it seems we both offered contradicting views. To clear that up, we did and eightbo is right, you should already have an idea of your downside.

My comment was more to do with it being after the fact and you're looking back wondering what your losses would have been.

Agree it's irrelevant, but it's made me think more about risk: reward, which I think is what you're saying with downside...

[eightbo]

Nice quote from my boy dante which always stuck with me.

Strive to enter the market as close as possible to where you'll be wrong.

"where you'll be wrong" being your risk on the trade, based on the premise you had going in.
I've taken loads in unnecessary pre-race losses because sometimes I couldn't pull the trigger when the trade failed and I would pay a ridiculous amount in inflation later when I finally accepted the trade failed, sometimes 30ticks or more. Not pulling the trigger when trade fails is same as not defining your exit as both are not capping downside, just one consciously the other not.

Switching to an automatic stop (consistently capping downside) turned the exact same style of trading from losing to profitable.

[eightbo]

Would anyone mind posting a screenshot of their fav. advanced charting for pre-race markets so I can copy it please ?? 

[jamesg46]

Nice quote from my boy dante which always stuck with me.

Strive to enter the market as close as possible to where you'll be wrong.

"where you'll be wrong" being your risk on the trade, based on the premise you had going in.
I've taken loads in unnecessary pre-race losses because sometimes I couldn't pull the trigger when the trade failed and I would pay a ridiculous amount in inflation later when I finally accepted the trade failed, sometimes 30ticks or more. Not pulling the trigger when trade fails is same as not defining your exit as both are not capping downside, just one consciously the other not.

Switching to an automatic stop (consistently capping downside) turned the exact same style of trading from losing to profitable.

https://youtu.be/M06DB2YunaA

[eightbo]

Cheeky bit of alan watts, you naughty minx.

I often caught myself thinking about how, if I could enjoy trading as much as I do while losing money, then I must be on the right path.
I think a lot get into trading with money in mind but then it becomes about a lot more than that and doesn't end up being the main driver for keeping on.

[jimibt]

Nice quote from my boy dante which always stuck with me.

Strive to enter the market as close as possible to where you'll be wrong.

"where you'll be wrong" being your risk on the trade, based on the premise you had going in.
I've taken loads in unnecessary pre-race losses because sometimes I couldn't pull the trigger when the trade failed and I would pay a ridiculous amount in inflation later when I finally accepted the trade failed, sometimes 30ticks or more. Not pulling the trigger when trade fails is same as not defining your exit as both are not capping downside, just one consciously the other not.

Switching to an automatic stop (consistently capping downside) turned the exact same style of trading from losing to profitable.

https://youtu.be/M06DB2YunaA

thanks for that -very interesting. this is my kids thing tbh, they rave on about Murray Buchin and the likes and guided me twds watching an interesting Adam Curtis documentary recently - Adam Curtis, The Century of the Self ... a worthwhile watch also.

[Euler]

I think a lot get into trading with money in mind but then it becomes about a lot more than that and doesn't end up being the main driver for keeping on.

I've often said this, I quickly passed the hurdle where my trading was considered a success, but I carrying on now because I like the cut and thrust of trading and the intellectual challenge of finding new things. I would happily be here even if Bet Angel didn't exist.

[jamesg46]

Nice quote from my boy dante which always stuck with me.


"where you'll be wrong" being your risk on the trade, based on the premise you had going in.
I've taken loads in unnecessary pre-race losses because sometimes I couldn't pull the trigger when the trade failed and I would pay a ridiculous amount in inflation later when I finally accepted the trade failed, sometimes 30ticks or more. Not pulling the trigger when trade fails is same as not defining your exit as both are not capping downside, just one consciously the other not.

Switching to an automatic stop (consistently capping downside) turned the exact same style of trading from losing to profitable.

https://youtu.be/M06DB2YunaA

thanks for that -very interesting. this is my kids thing tbh, they rave on about Murray Buchin and the likes and guided me twds watching an interesting Adam Curtis documentary recently - Adam Curtis, The Century of the Self ... a worthwhile watch also.

Really enjoyed watching that. Freud has been on my to explore list for a bit now, so I guess this is where it's started.

[goat68]

I looked up Trader Dante, he's an interesting chap, he doesn't mince his words!!

[Bubace]

I looked up Trader Dante, he's an interesting chap, he doesn't mince his words!!

The 6 check points on how to tell if you're a C*#t, i managed to tick all 6! guess i know what that means

[Black Ice]

Euler said: I've often said this, I quickly passed the hurdle where my trading was considered a success, but I carrying on now because I like the cut and thrust of trading and the intellectual challenge of finding new things.
+1

[ruthlessimon]

I think a lot get into trading with money in mind but then it becomes about a lot more than that and doesn't end up being the main driver for keeping on.

"Money in this game tends to gravitate to those that don't care for it"

That boy Dante

[goat68]

I do seem to be getting better at least at getting the direction of my swing trades right, so far this week, 28 markets, and 20 I got right.
I just need better execution.