Today's Horse Racing

[ruthlessimon]

lively start; fav 1.90 into 1.67, out to 2.0!

[ShaunWhite]

Sorry ,is this based on money ,or number of trades calculated?And because is 0.something,do I need to multiply it by 10,please?

Strike rate is the percentage of times you win on a market divided by the total number of markets you traded. Irrespective of the amounts.

So if you trade 12 markets and you are in profit on 8 of them, your stike rate is (8/12)*100 or roughly 66%. It might be the case that you win 1p on each win and lose £1 on each loss so strike rate is not a measure of profitablity. You can have a 95% strike rate and still lose money or you can have a strike rate of 5% and be in profit.

If you substitue the actual cash amount you win and the total cash amount you traded into the equation above, that will give you your Return on Investment or ROI. Any positive result is obviously good but don't be suprised if ROI is a low single digit number.

[bimbi]

Thaks very much

[bimbi]

Guys ,is this happening to you as well ,I have today 13 good and 2 bad trades ,but moneywise I lost a bit.How does this work,please,is this normal ,or is just me.Ok, to be honest I wasnt very focused ,because I was doing two things at the same time ,but is this normal to happen,even if Im focused,please.Every answer will be appreciated,thanks.

[frankob20]

Guys ,is this happening to you as well ,I have today 13 good and 2 bad trades ,but moneywise I lost a bit.How does this work,please,is this normal ,or is just me.Ok, to be honest I wasnt very focused ,because I was doing two things at the same time ,but is this normal to happen,even if Im focused,please.Every answer will be appreciated,thanks.

...I was doing two things at the same time ...
My advice- when you want to trade, just focus on trading... if you want to do something else... just do it and skip your trading session...

[to75ne]

onest I wasnt very focused ,because I was doing two things at the same time ,but is this normal to happen,even if Im focused,please.Eves.

if your gonna trade then trade, if your gonna do something else, do that.

you are obviously nowhere near capable to trading proficiently, so what made you think you would be good at trading while doing something else?

[Derek27]

Guys ,is this happening to you as well ,I have today 13 good and 2 bad trades ,but moneywise I lost a bit.How does this work,please,is this normal ,or is just me.Ok, to be honest I wasnt very focused ,because I was doing two things at the same time ,but is this normal to happen,even if Im focused,please.Every answer will be appreciated,thanks.

In the past, I have lost a lot of money (and won a lot that I wouldn't have otherwise) by letting trades go in-play because I was busy doing something else. I've also burnt my pizza because I was busy trading. So the simple advice, as Frankob20 and to75ne have said, concentrate 100% on trading.

To answer your question, the maths is quite simple, for example 13*5-(2*50)= -35.

It's normal for new traders to have bigger losses than wins; you need to reduce your mistakes and limit your losses before you can start making money trading.

[Euler]

Tried to lay at 6 but couldn't get filled then, piiiiiiiiiiiiiiiiiiiiiiing

Bow Street_15273881_19_11_14.png

[Derek27]

That really is frustrating. We've all been there, you have £100 queued behind a £1000, you get to the front of the queue, and then £1.90 is matched.

[bimbi]

Thanks very much guys and especially Derek27.May be because the last few day I was very profitable and bang ,to much complacency.One more lesson.

[bimbi]

Thanks very much guys and especially Derek27.May be because the last few days I was very profitable and bang ,to much complacency.One more lesson.

[wilf]

That really is frustrating. We've all been there, you have £100 queued behind a £1000, you get to the front of the queue, and then £1.90 is matched.

That always happens to me. You know when you're on the right side when you can't get matched, but you'll always get matched when you are wrong

Or when there's an obvious aggressive steam or drift and it's wrong to chase trades, but when you do try to get matched it feels like your mouse button isn't working because you just can't get matched.

[ruthlessimon]

That really is frustrating. We've all been there, you have £100 queued behind a £1000, you get to the front of the queue, and then £1.90 is matched.

I'm a big fan of "micro-confirmation" for finessing entries. If I need to be in quickly, rather than wait & hope I get filled, get in when the 1 tick WOM is as low as I feel is acceptable given the conditions (& how focused I am! ). Done right, you'll be first in line on the next price, with everyone diving on top - could give a scratchable exit should you want to.



In that example, the likelihood of a tick down must be at least 90%. It's not an edge, but certainly helps catch moves rather than begging for a fill!

[Derek27]

I have today 13 good and 2 bad trades ,but moneywise I lost a bit.How does this work

Hi Bimbi,

Now that I've finished trading for the night I'll give you a slightly fuller answer.

The reason we all win small time and lose big time when we first start trading is because, we open our trades, trade out for a few ticks profit, congratulate ourselves for making a profit, and then do it again. The problem is that when the market goes against you, it can go more than a few ticks against you, so it's like backing horses at 1-10. You'll win most of the time but it only takes one loser to blow your profits.

You need to think before opening a trade, how far you feel it may go in your favour and at what point you want to get out (use stop-losses if necessary), before considering whether it's a good trade.

Good luck,

Derek

[bimbi]

Thanks very much Derek27,great help.