80% strike rate and still losing
Why did I continue into the evening racing today when I could see that the markets were crazy?
Why can’t I exit a trade when the market goes against me?
Why am I still allowing any portion of my trade to go in-play?
When will I ever f**king learn?
Maybe I need a shrink, or just a f**king bullet in the head
Aargh!!!
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cybernet69
80% strike rate and losing ?JPK65 wrote: ↑Sat Jun 10, 2017 9:12 pm80% strike rate and still losing
Why did I continue into the evening racing today when I could see that the markets were crazy?
Why can’t I exit a trade when the market goes against me?
Why am I still allowing any portion of my trade to go in-play?
When will I ever f**king learn?
Maybe I need a shrink, or just a f**king bullet in the head
take a week or so off, do other things, stay away from trading including forums and get it out of your head.
why "Aargh !!!!" and "When will I ever f**king learn? " and "Maybe I need a shrink, or just a f**king bullet in the head" and the rest of it is in the front of your mind, you will not be able to think clearly because all that stuff will be there jumping to the front, especially when you make a mistake, or a spike pushes the price away from you, or you get stung by a rf, betfair crashes and so on.
you need a break to clear out your mind.
why "Aargh !!!!" and "When will I ever f**king learn? " and "Maybe I need a shrink, or just a f**king bullet in the head" and the rest of it is in the front of your mind, you will not be able to think clearly because all that stuff will be there jumping to the front, especially when you make a mistake, or a spike pushes the price away from you, or you get stung by a rf, betfair crashes and so on.
you need a break to clear out your mind.
+1 and more succinct than i'd have put it (i'd also add that we tend to think in a cliche like way about the markets and thus group the losses mentally in a single lump - disassociation required!. therefore, keep detailed records that record the trades and reflect your mental state, if you can be arsed )to75ne wrote: ↑Sat Jun 10, 2017 9:30 pmtake a week or so off, do other things, stay away from trading including forums and get it out of your head.
why "Aargh !!!!" and "When will I ever f**king learn? " and "Maybe I need a shrink, or just a f**king bullet in the head" and the rest of it is in the front of your mind, you will not be able to think clearly because all that stuff will be there jumping to the front, especially when you make a mistake, or a spike pushes the price away from you, or you get stung by a rf, betfair crashes and so on.
you need a break to clear out your mind.
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ShaunWhite
- Posts: 10526
- Joined: Sat Sep 03, 2016 3:42 am
One of your earlier posts started "When I was a punter..." It's gonna take a loooooong time to shake that mentality off, if ever. Your issues are classic 'punter'.
How long have you been trading (hrs) and how many markets have you watched?
Lots of people will tell you it takes a upto a year for a regular person to really crack it. So even if you're special and you halve it. 6 months at 6 hrs a day, 6 days a week, say 20 mkts a day. You're looking at over 900hrs and almost 19,000 markets. To half it again to 450/9,500 you'd need to be one of the lucky few, usually the young ones with soft brains and zero previous knowledge (aka baggage) to unlearn.
Before you pay for a shrink, or even have another trade, have a look through viewtopic.php?f=18&t=78&p=124455&hilit=books#p124455 and read some psych books. Trading in the Zone has been put up on YT https://www.youtube.com/watch?v=xuvbihP3i6k if you're tight but it's worth a few quid to get it or buy the proper audio version so you can slow it down. Std version runs about 10% too fast for me, no time to ponder. It made the difference between hearing it, and listening to it.
They won't fix you, but you'll understand your 'mental problems' are just std primate wiring that you need to modify. Sucessful trading = Learning to trade + Reprogramming your head (unless your head is empty to start with of course)
Switch your computer off for a week or two, go read some books, find out what's between your ears and stop being a punter.
How long have you been trading (hrs) and how many markets have you watched?
Lots of people will tell you it takes a upto a year for a regular person to really crack it. So even if you're special and you halve it. 6 months at 6 hrs a day, 6 days a week, say 20 mkts a day. You're looking at over 900hrs and almost 19,000 markets. To half it again to 450/9,500 you'd need to be one of the lucky few, usually the young ones with soft brains and zero previous knowledge (aka baggage) to unlearn.
Before you pay for a shrink, or even have another trade, have a look through viewtopic.php?f=18&t=78&p=124455&hilit=books#p124455 and read some psych books. Trading in the Zone has been put up on YT https://www.youtube.com/watch?v=xuvbihP3i6k if you're tight but it's worth a few quid to get it or buy the proper audio version so you can slow it down. Std version runs about 10% too fast for me, no time to ponder. It made the difference between hearing it, and listening to it.
They won't fix you, but you'll understand your 'mental problems' are just std primate wiring that you need to modify. Sucessful trading = Learning to trade + Reprogramming your head (unless your head is empty to start with of course)
Switch your computer off for a week or two, go read some books, find out what's between your ears and stop being a punter.
I've submitted posts to you before. I know what you're going through, and I know why you have an excellent strike rate, but are still losing money.
Closing your computer down and reading books for a week isn't going to help you. The problem is, you came into this from having been a punter most of your life - you have a gamblers brain and instinct, not a trading one
It is possible to change that, but it's not easy. I assume you've had 4 winning markets, followed by a loser that wipes out all the losses and more?
Tell us what happened - on the markets you lost, why did the losses become so eye watering - did you just sit and watch the red getting bigger, did you gamble to win back a loss, or did you let a trade go 'IP'?
Closing your computer down and reading books for a week isn't going to help you. The problem is, you came into this from having been a punter most of your life - you have a gamblers brain and instinct, not a trading one
It is possible to change that, but it's not easy. I assume you've had 4 winning markets, followed by a loser that wipes out all the losses and more?
Tell us what happened - on the markets you lost, why did the losses become so eye watering - did you just sit and watch the red getting bigger, did you gamble to win back a loss, or did you let a trade go 'IP'?
Sorry to hear about the problems your having, you have had some great advice in this thread. I think the posts regarding the gamblers brain are spot on, but people like Letiss and many others have managed to rewire themselves so you know its possible to do this. That should give you some encouragement, as others have said take a break for a week or two and hopefully you can come back to the markets refreshed and in a good frame of mind.
I was doing something that had a strike rate of over 85% which sounds fantastic, had some great winning runs, but I still couldn't make any money off it. If you are prepared to have stops a lot bigger than your typical win, then you can achieve some tremendous strike rates, but still not make any money long term.
Having a high strike rate is good and that's what we all would like but I think its possible to become too focused on strike rate (I'm very guilty of this) at the expense of making money.
I was doing something that had a strike rate of over 85% which sounds fantastic, had some great winning runs, but I still couldn't make any money off it. If you are prepared to have stops a lot bigger than your typical win, then you can achieve some tremendous strike rates, but still not make any money long term.
I think that strike rate on its own is not really a measure of anything - if I just straight laid runners that sp at 5's I ought to get get an 80% 'strike rate" - and I could 'improve' that to 90% if I instead straight laid runners at 10's - but neither would be profitable if I factor in the profits from the 'strikes(less commission) ' minus the losses from the misses.
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ShaunWhite
- Posts: 10526
- Joined: Sat Sep 03, 2016 3:42 am
That's just gambling, not trading.
You don't need 'crazy maths' to trade, but for in-running betting you'll need the eye of a Mullins and the speed of a trackside ninja to make it pay.