Hi I would like to ask the community for some advice.
I had a trade that was not going particularly well so thought it would be a better part of valour and to red up for a small loss about £2.80 so duly pressed the green up on the ladder screen thought nothing else of it, job done I thought, went off made a drink whn I returned to my pc i was horrified to see that I had not greened/red up and ended down £392
What did I do wrong if any Or is there somthing else I need to take into consideration I thought that bet angel did all the work settling all bets So Why didn't the software close all bets ???
Please any advice would be greatly received As I don't want to go through that again in a hurry
respectfully, i'd recommend using the software in test mode for a while and consider going on peter's course for newbies to make 100% certain of what you are doing, lest like many of us, you are going to have a lot more days like this.
Generally when you press a button, on anything, it's a good idea to see if it's worked. When I first started trading with software I'd always have the BF site open too so I could see everything had 100% certainly definately happened.
When you green up you are submitting a closing trade at the current price. If the market is moving quickly then that tranastion will enter the market as unmatched.
BF can't then 'manage' your exit, eg how long should it wait to see if the trade is matched before it's moved? Should it keep it there if the price is rebounding? Consider it as working like the Cash-In button on BF....but it's better because at least it actually places the trade instead of just saying "price has moved, do you still want to do it"
If a market is moving against me quickly, I always green the ladder a few ticks worse than I actually want. (I use the P/L column, not the button one at the top of the screen). That way I'm more sure of getting it matched. If it actually matches at a better price, great, then I can green the remaining small difference without too much drama as the ticks are pennies not pounds. It's much better than chasing the 'best' price and watching it get worse and worse, because when you do catch it, it's always just as the move stops/reverses and you get the worst possible outcome. Says the voice of experience.
Keep your chin up ragamuffin, I'm sorry you had such a big loss but we've all had our share of fck-ups. You'll never do it again and better it happens now than when your loss could be 4000. Hey £400 will get you a one day 'middle management team bonding' course where you learn absolutely nothing except how the women in the office look in jeans....I think this £400 taught you something a lot more useful.
Also, take it as a chance to consider your disater strategy for things you can't control such as power cuts, broadband outages, pc crashes, BF site crashes, API outages etc. Before you risk another £400 have a think about a UPS, a wireless 3/4G backup, and a funded Betdaq account to hedge in, a second pc or laptop running and ready, etc etc. The worst always happens at the worst time, biggest trade of the day, 30s before the off...be ready.
Thank you Mr Undercover
I would love to be able to attend some courses run by experienced traders and have put my name down for peters next courses when available!! is there any other courses. i know that a course is not the golden egg but like every thing knowledge and experience is worth a lot !!
Thanks ShaunWhite
A numpty moment assuming that the software had done its thing She who must be obeyed slapped my wrists and said what do I always say ! do not assume as it only makes an ass out of you and me Anyway thanks for the pointers you have put forward I will certainly take them on board
Ray
Hi Betangels.
I am not a newbe on trading.
But this software was not so easy to understand
BAF Files Were di i copy in them?(dallas)
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+ 1-2-3.
It was green i lay and loos.
Should i only back them.
Have a nice betting Day.
PelleG/sweden
Hi Betangels.
I am not a newbe on trading.
But this software was not so easy to understand
BAF Files Were di i copy in them?
PelleG/sweden
If you have downloaded a rules file, you can import it by clicking on ‘Import a rules file’. This will display a file selection window, just navigate to your downloaded file and click Open. The new rules file will be added to the pick list in Guardian and you can then edit it or apply it to markets as required.
I noticed in your post you mentioned that you had explained to "she who must be obeyed" what had gone wrong in your trade. Although this might appear to be somewhat oblique in terms of trading discipline I think that is one of the stong points of trading discipline. If you keep you partner (or someone) informed of your trading ups and downs it keeps you honest about what you are doing. In my past days as a punter I made certain that I told my wife how I had gone - luckily I didn't do too badly over the years. However, if you don't have someone to "keep you honest" it is all too easy to lie to yourself - eg: "If that price hadn't moved against me, I would have made a large profit", "I would have done well on that trade if I had an earlier entry point" and so on.
I think that you are on the right track. However, I am reminded of a trader posting on a forum somewhere that had expalined to his wife that he had experienced a terrible trade and finished up 600 in the red. He didn't give up though and spent the day working his way back to recover his 600 and even managed to end the day 20 in profit. After the lengthy explanation wich included dramatic pauses his wife responded with "that's nice dear!"
Or is there somthing else I need to take into consideration 
She who must be obeyed 
slapped my wrists and said what do I always say ! do not assume as it only makes an ass out of you and me 
Anyway thanks for the pointers you have put forward I will certainly take them on board