I missed the 1st but usually something has to go pretty wrong to get <=1%,
defo lay heavy in NSW has been for a year, yet still higher edge laying vs non NSW
Australian racing
I feel like they're so good loading in AUS that there's not much risk/reward to trading past post, and liquidity can thin out in the final stages anyway so if you're pressed for time to close and have to pay the spread it detracts a lot from the edge
Back in bidness
No matter what, cannot risk it all on any one particular trade, had to revamp some of my risk management as well in recent years, it was an accident waiting to happen!
In my early days, I had just over £1K in my account and I put £1K on a horse around 2.7. 60 nervous seconds later I panicked, scratched the trade and thought fuck that, it's an accident waiting to happen.
tyty, still have to grind my way out of the woods over next few weeks, but have split capital between main/poker wallets (<=25%)/(75%+) and can feel an obvious lift of pressure/emotional weight.
One step at a time
I have always secretly envied those who started out as more risk-averse, and felt that if you're already driven by a strong fear of losing you'll protect yourself naturally. You'll miss trades and stuff sure but no serious damage done, + while you're learning to lean into that headwind, when you fail you'll fall into somewhat of a safety net.
I was surprised when I started trading to discover that, polar opposite to my calm attitude in my first 20yrs of life, I had a very aggressive trading personality and trying to lean into my 'headwind' has been difficult as falling is more akin to landing in a pit of flames instead of a cushty net.
It's of course the same end-result both sides are trying to reach but learning to truly appreciate risk has been a long journey for me, but every strong emotional fuck-up helps a little to rewire the brain as needed. And hilariously even when you think you're chillin', there's the risk of getting complacent with respecting risk. But I suppose it's not uncommon to for the good warriors to pick a few scars along the way. Happy for them to shape my character in the present moment but honestly I've grown exhausted with the ups and downs now, and I'm just fully committing to small risk now.
Should of course be that way from the start, but until you've really made that internal decision deep down, you're sort of doomed to fail / can't reach your potential. I want to turn this whole dark situation into a defining moment for me now, bounce back & never look back. Probably won't be that easy, but I feel like I've been trying to hard, just gonna ease right off and take it casual as you like, leave the heavy lifting to the bots and chug away on small risk as needed, bump up slowly over time, never mix auto/manual bankrolls, and incorporate a 60sec negative visualisation before every manual session, forever
this has got that journal entry vibe to it, apologies for sidetrack
One step at a time
The numbers don't work logically and I think it's easy to spot that but in my case and possibly others it seems that the knowledge needs an emotional motivator behind it for it to be applied practically.
I have always secretly envied those who started out as more risk-averse, and felt that if you're already driven by a strong fear of losing you'll protect yourself naturally. You'll miss trades and stuff sure but no serious damage done, + while you're learning to lean into that headwind, when you fail you'll fall into somewhat of a safety net.
I was surprised when I started trading to discover that, polar opposite to my calm attitude in my first 20yrs of life, I had a very aggressive trading personality and trying to lean into my 'headwind' has been difficult as falling is more akin to landing in a pit of flames instead of a cushty net.
It's of course the same end-result both sides are trying to reach but learning to truly appreciate risk has been a long journey for me, but every strong emotional fuck-up helps a little to rewire the brain as needed. And hilariously even when you think you're chillin', there's the risk of getting complacent with respecting risk. But I suppose it's not uncommon to for the good warriors to pick a few scars along the way. Happy for them to shape my character in the present moment but honestly I've grown exhausted with the ups and downs now, and I'm just fully committing to small risk now.
Should of course be that way from the start, but until you've really made that internal decision deep down, you're sort of doomed to fail / can't reach your potential. I want to turn this whole dark situation into a defining moment for me now, bounce back & never look back. Probably won't be that easy, but I feel like I've been trying to hard, just gonna ease right off and take it casual as you like, leave the heavy lifting to the bots and chug away on small risk as needed, bump up slowly over time, never mix auto/manual bankrolls, and incorporate a 60sec negative visualisation before every manual session, forever
this has got that journal entry vibe to it, apologies for sidetrack
Last edited by eightbo on Tue Apr 05, 2022 9:18 pm, edited 1 time in total.
Did you manage to get anything out of Betfair for their cock-up the other week?
I can tell you why I'm one of those guys. When I opened a Betfair account with £50 I was claiming Jobseeker's allowance. I couldn't afford to lose it and refund my account. People who start with a salary or large savings can afford to take risks and replenish their banks when things go wrong.
Good luck with improving your money management, I'm sure you'll crack it.
I asked for 40% of the loss as net position should've been around £0.
They offered a small goodwill but wouldn't give what I asked for, I declined as it wouldn't have made a difference to my situation.
Understandable that they don't pay out, where should the money come from after all, and customer bets should be placed at own risk.
However complete objective cock up in terms of how that market was managed (or more accurately not managed) whether from BF, a third party, whoever, between the time changes, the early start, and the failure to turn in-play it was a shit show combination
I'm considering a rule to not trade any markets where times have been pushed back now. Or half size or something as has to be quite rare to get stung like that, and if it were to go wrong, with new small %-based bank for manual shouldn't be the end of the world