Stop Trading When Set Profit Is Reached

[Crazyskier]

Appreciate your response Derek27, however some may take a different approach and taking a daily profit is the priority.
I have implemented a strategy similar to the Trailing Stop, the fixed profit I calculate once reached is then adjusted upwards with each win, if the profit then drops below the new target profit betting stops ensuring a daily profit, for the past 10 months the profit is more than the losses.
Profit is how much money you’ve made after expenses, while profitability measures how sustainable your ability to generate profits is over time.
By taking smaller profits increases the profitability.

I disagree with your definition of profitability. Profitability is the ability to produce profit, which can only be judged by how profitable you are. (Incidentally, Grammarly tried to change "how profitable you are" to "your profitability", so even Grammarly agrees with me ). A strategy that wins £5 every single day is less profitable and has lower profitability than a strategy that wins £3K a year with all the ups and downs that go with it.

Not on a 'down' day it isn't! In your example, the £5 will be there every day. You're taking an arbitrary time period of a year for the 'up and down' strategy, which is fine over a year, but the daily fiver has to be judged DAILY, when it surely beats the other strategy for profit on some days.

CS

[Derek27]

I know this has been touched upon before and I know there are arguments of why would you do this, well it's a free world and we are all entitled to our opinions. TIA

We're all entitled to jump from the top floor but people will still ask why you want to do it.

At the moment I'm finding if I let the automation run for all races I usually end up with a loss or very small profit, but have found that there is a certain time period where I can take a bigger profit, still tweaking automation and looking at different ways to make profit. There's always a chance I'll change my mind as I hurtle towards the ground lol

In another similar post someone gave an analogy...if a cash machine was throwing out free money why would you stop when you had £50?
But to me it's more yes I would stop after £50 so I'm not caught by the Police who takes all my loot for the day then sends me to prison and have my bottom raped Lol...............I'll take the £50 thx

That's quite a poor analogy because trading isn't illegal and you won't get nicked for it. What you're doing is confusing being robbed with your own inability to trade or lack of confidence that your success will continue.

If you're losing money on the last two races of the day, maidens or bumpers, it would make far more sense to analyse your results by race category than simply stopping. There might be another group race you do well on that you miss just because you've reached your target profit.

[Derek27]

Appreciate your response Derek27, however some may take a different approach and taking a daily profit is the priority.
I have implemented a strategy similar to the Trailing Stop, the fixed profit I calculate once reached is then adjusted upwards with each win, if the profit then drops below the new target profit betting stops ensuring a daily profit, for the past 10 months the profit is more than the losses.
Profit is how much money you’ve made after expenses, while profitability measures how sustainable your ability to generate profits is over time.
By taking smaller profits increases the profitability.

I disagree with your definition of profitability. Profitability is the ability to produce profit, which can only be judged by how profitable you are. (Incidentally, Grammarly tried to change "how profitable you are" to "your profitability", so even Grammarly agrees with me ). A strategy that wins £5 every single day is less profitable and has lower profitability than a strategy that wins £3K a year with all the ups and downs that go with it.

Not on a 'down' day it isn't! In your example, the £5 will be there every day. You're taking an arbitrary time period of a year for the 'up and down' strategy, which is fine over a year, but the daily fiver has to be judged DAILY, when it surely beats the other strategy for profit on some days.

CS

You need to take your blinkers off CS. What you make in a day is completely irrelevant, unless you're just a recreational punter it's not even worth mentioning. No strat can be judged on a day's profit.

[Crazyskier]

I disagree with your definition of profitability. Profitability is the ability to produce profit, which can only be judged by how profitable you are. (Incidentally, Grammarly tried to change "how profitable you are" to "your profitability", so even Grammarly agrees with me ). A strategy that wins £5 every single day is less profitable and has lower profitability than a strategy that wins £3K a year with all the ups and downs that go with it.

Not on a 'down' day it isn't! In your example, the £5 will be there every day. You're taking an arbitrary time period of a year for the 'up and down' strategy, which is fine over a year, but the daily fiver has to be judged DAILY, when it surely beats the other strategy for profit on some days.

CS

You need to take your blinkers off CS. What you make in a day is completely irrelevant, unless you're just a recreational punter it's not even worth mentioning. No strat can be judged on a day's profit.

But it can over 365 days? Like I said, arbitrary - you can apply that argument to any time period, Derek. It's a principle I'm talking about. I and others look for regular daily profits and as long as the gains outweigh the losses, the weeks, months and years take care of themselves.

[ShaunWhite]

If stopping improves your bottom line then it's nothing to do with your PL, it'll be market conditions and if you can identify exactly what that is then you'll be quids in. You'll be more selective and trade whatever suits your strategy whenever and wherever that is. Your strategy just sounds like it doesn't work as well as it could and you're looking at the wrong thing to try and improve it.

By the way what sort of daily profit are you stopping at? 10s or 100s?

[Trader724]

If stopping improves your bottom line then it's nothing to do with your PL, it'll be market conditions and if you can identify exactly what that is then you'll be quids in. You'll be more selective and trade whatever suits your strategy whenever and wherever that is. Your strategy just sounds like it doesn't work as well as it could and you're looking at the wrong thing to try and improve it.

By the way what sort of daily profit are you stopping at? 10s or 100s?

Shaun in his struggle to gather as many stats as possible

[ShaunWhite]

What I'm not understanding is if you've got a proven profitable strategy why would you want small daily amounts rather than much bigger monthly numbers? You only worry about varience when you're worried it won't come back from the dips, then it's about maximising your returns. All this steady Eddie stuff is OK in theory but it's not really pushing the envelope much.

[ShaunWhite]

Shaun in his struggle to gather as many stats as possible

I'm not short of stats, I traded almost 200,000 dogs again this year. My stats cup runneth over.

[Trader724]

Shaun in his struggle to gather as many stats as possible

I'm not short of stats, I traded almost 200,000 dogs again this year. My stats cup runneth over.

You did good job, congratulations and keep it

[Derek27]

Not on a 'down' day it isn't! In your example, the £5 will be there every day. You're taking an arbitrary time period of a year for the 'up and down' strategy, which is fine over a year, but the daily fiver has to be judged DAILY, when it surely beats the other strategy for profit on some days.

CS

You need to take your blinkers off CS. What you make in a day is completely irrelevant, unless you're just a recreational punter it's not even worth mentioning. No strat can be judged on a day's profit.

But it can over 365 days? Like I said, arbitrary - you can apply that argument to any time period, Derek. It's a principle I'm talking about. I and others look for regular daily profits and as long as the gains outweigh the losses, the weeks, months and years take care of themselves.

No, it doesn't take 365 days. I made a profit on New Year's Day this year. I was making a loss for the year at the end of the 2nd and 3rd of January, but from day 4 onwards I was always in profit for the year. If I quit after an average day's profit I wouldn't have made as much on New Year's Day but still have made a loss on the 2nd and 3rd of January.

Why not aim for an hourly profit? Quit on a winner until the next hour?

[jamesedwards]

Shaun is right.

It seems to me there is one of three things happening here:
> You have an edge under all conditions, in which case stopping at a certain point of profit is illogical.
> You lose your edge in the type of races that are more common towards the end of the day, in which case you should be selecting markets by conditions and not by time.
> You have no edge at all and the small amounts you win on most races will not outweigh the small number of larger losses in the long term. Trading less races is more likely to result in a winning day.

[napshnap]

Can't add much, guys said everything already. It can be useful on a personal level like a psychological "seatbelt" (if you don't automate).

[Derek27]

Can't add much, guys said everything already. It can be useful on a personal level like a psychological "seatbelt" (if you don't automate).

It's Christmas Day napshnap, we should forget about trading for a day.

Shit! I shouldn't be on here.

[napshnap]

Can't add much, guys said everything already. It can be useful on a personal level like a psychological "seatbelt" (if you don't automate).

It's Christmas Day napshnap, we should forget about trading for a day.

Shit! I shouldn't be on here.

It's okay, Derek. Think about it - we (as Humanity) made it to Christmas!)) What an achievement!

Merry Christmas to you guys, I maybe don't share the culture completely, but I saw enough Home Alone movies and I respect you). I wish you to celebrate it noisily and cheerfully!

[The Silk Run]

I haven't read the entirety of this topic but I used to use SAW, and compounding, before jail break !!!