I'm at a loose-end for a while so I thought that I'd just sit a spell, take my shoes off and just kick an idea around, haul it up the nearest flag pole and see who salutes it.
I've been a layer for longer than I care to remember but I always think that it does no harm to try something different. Well, trading is, for me, something different so I'm thinking about giving it a swing and a dip and see where it takes me.
I may come across as a little blase but I like to do things in as professional a manner as possible. Before embarking on most things, I do my homework. Especially when it comes to parting with my hard-earned. That way, I keep a distance between the poor house and myself.
I've read a lot of posts on here about trading and it doesn't seem easy to get a handle on. I've also read about the failures too. Not nice.
As far as I can tell, I have five possible approaches open to me (none of which involve a comfy chair):
The first is to attend a trading course.
The second is to watch the markets for the better part of an age and make notes on all that I see and, eventually, identify a winning strategy (possibly).
The third is to trade the horses that I would have layed anyway. So, I lay. If the odds increase, I trade out for a profit. Ker-ching. If the odds fall, I leave the lay bet in. The race goes in-play. The horse loses and I collect. Ker-ching.
The fourth is to learn all that I can about trading by whatever means possible and trade horses that I think will lose and whose odds I think will increase. If the odds don't rise, I leave the bet in and it loses anyway.
The fifth is to stop being silly and stick to laying.
What's a girl to do?
All comments appreciated.
Just a kickin' my heels and musing ......
Anna my old pal,
Hope you are well. For me - anyway. It has always been easier to do things my way and in a context i understand for example say a trading course is a textbook about algebra and there is an explanation written in text on how to solve a equation. For me i would have much more success in processing through the equation in my head than reading anothers words to explain.
When i started trading i did exactly what you explained as an option. I watched the markets and devised a strategy based on what i saw and through trial and error found it to be succesful. I have stuck to my guns and so far so good i am now part time and intending to make this my full time as previously mentioned to you. You are vastly experienced and very smart so whatever option you choose i have no doubt you will succeed. If i can help at all please do let me know! I wish you all the best!
Regards
- R
Hope you are well. For me - anyway. It has always been easier to do things my way and in a context i understand for example say a trading course is a textbook about algebra and there is an explanation written in text on how to solve a equation. For me i would have much more success in processing through the equation in my head than reading anothers words to explain.
When i started trading i did exactly what you explained as an option. I watched the markets and devised a strategy based on what i saw and through trial and error found it to be succesful. I have stuck to my guns and so far so good i am now part time and intending to make this my full time as previously mentioned to you. You are vastly experienced and very smart so whatever option you choose i have no doubt you will succeed. If i can help at all please do let me know! I wish you all the best!
Regards
- R
My take on things with trading pre race,
Can't for the life of me remember why I got into trading but I've made several mistakes, including..
Overstaking at a very early stage thinking this was easy, there are so many variances in the markets, for example front runners, trainers with two runners in a race, gambles from nowhere et al, the list goes on & on,
In hindsight what I should've done is not take notice of too many professional traders out there, no disrespect to them but they all seem to offer conflicting info when it comes down to their methods & execution, it can get confusing when all info offered by all is flying around your head when your in a market,
I've lost five figures in a year trying to fathom this out without having a background in horses, I've been stupid, very stupid, yes I have attended a course courtesy of Bet Angel but for this doesn't cover all aspects, I should have attended the Masterclass first and then the Horse Racing Workshop.
I've decided to take some time out to earn some money & build up another bank, this reply wasn't meant as a vehicle to sound my own story what I'm getting at is that generally this takes time.. a lot of time to understand how the markets can suck you in, throw you about then tempt you back in then knock you out, this game is not for the impatient, it's for those who are prepared to lose money and work at it.
Find an edge and stick to it, your edge when discovered even then won't play out all of the time but over time it will, my problem is ~ is that I have only one edge which only covers not even half of the markets, this may be enough but I don't have the size of bank to make it pay as a full time wage, I could go on but feel as if I've made my point
Can't for the life of me remember why I got into trading but I've made several mistakes, including..
Overstaking at a very early stage thinking this was easy, there are so many variances in the markets, for example front runners, trainers with two runners in a race, gambles from nowhere et al, the list goes on & on,
In hindsight what I should've done is not take notice of too many professional traders out there, no disrespect to them but they all seem to offer conflicting info when it comes down to their methods & execution, it can get confusing when all info offered by all is flying around your head when your in a market,
I've lost five figures in a year trying to fathom this out without having a background in horses, I've been stupid, very stupid, yes I have attended a course courtesy of Bet Angel but for this doesn't cover all aspects, I should have attended the Masterclass first and then the Horse Racing Workshop.
I've decided to take some time out to earn some money & build up another bank, this reply wasn't meant as a vehicle to sound my own story what I'm getting at is that generally this takes time.. a lot of time to understand how the markets can suck you in, throw you about then tempt you back in then knock you out, this game is not for the impatient, it's for those who are prepared to lose money and work at it.
Find an edge and stick to it, your edge when discovered even then won't play out all of the time but over time it will, my problem is ~ is that I have only one edge which only covers not even half of the markets, this may be enough but I don't have the size of bank to make it pay as a full time wage, I could go on but feel as if I've made my point
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firlandsfarm
- Posts: 3334
- Joined: Sat May 03, 2014 8:20 am
I've always found no matter what you do the markets will always go in the opposit direction! If you back they will go out and if you lay they will come in ... so do the opposite of what you are thinking I hear you say but they will still go the other way like a double bluff! I just find trading too frustrating for my mindset ... best of luck, you're gonna need it
The issues i see is as you have already pointed out yourself. If you are looking to trade (prerace..?) and it does not go your way you default back to leaving it go in play as you expect it to loose anyways. Then you would never have a reason to trade out pre off even if it the price does drift, why would to trade out for a fraction of what you could get when it looses.
You might want to try and only back horses first then laying them off, atleast then you have no need to go inplay with it or will you...mmmmmmmm
You might want to try and only back horses first then laying them off, atleast then you have no need to go inplay with it or will you...mmmmmmmm
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iambic_pentameter
- Posts: 450
- Joined: Wed May 18, 2016 1:24 pm
Hi Anna
The best advice I've been given about succeeding in trading is simple:
1) Screen Time
2) Discipline
3) Money Management
I'm not ashamed to say that it's taken me a long time to get into my head that my priority (at this stage in my trading journey) isn't to make money, it's to protect my bank.
After all, if a trader can't be profitable with small stakes, then they can't expect to be profitable with large stakes can they.
As I've said on here before, of course using £2 stakes you won't make much money but, conversely, you won't lose much money either
Best of luck
Iambic
The best advice I've been given about succeeding in trading is simple:
1) Screen Time
2) Discipline
3) Money Management
I'm not ashamed to say that it's taken me a long time to get into my head that my priority (at this stage in my trading journey) isn't to make money, it's to protect my bank.
After all, if a trader can't be profitable with small stakes, then they can't expect to be profitable with large stakes can they.
As I've said on here before, of course using £2 stakes you won't make much money but, conversely, you won't lose much money either
Best of luck
Iambic
Have developed a money management system and tested and honed it to perfection.iambic_pentameter wrote: ↑Sat May 13, 2017 9:47 pmHi Anna
The best advice I've been given about succeeding in trading is simple:
1) Screen Time
2) Discipline
3) Money Management
I'm not ashamed to say that it's taken me a long time to get into my head that my priority (at this stage in my trading journey) isn't to make money, it's to protect my bank.
After all, if a trader can't be profitable with small stakes, then they can't expect to be profitable with large stakes can they.
As I've said on here before, of course using £2 stakes you won't make much money but, conversely, you won't lose much money either
Best of luck
Iambic
Have discipline.
Have time to screen-watch.
Have gun, will travel.
My thanks.
Anna