recovery after a loss

[murdok]

i wanted to automate a rule that in the event of a loss in the next race, do a recovery method , will it be possible to create such a rule ?

[to75ne]

dont do it. your just regret doing it sooner or later.

[Dallas]

Its the very worst thing you can attempt to do

[LeTiss]

It's staggering isn't it. I honestly couldn't even hazard a guess how many posters I have encountered over the past 7-8 years, asking that question or something similar.

It just shows that one of the biggest reasons for failure in trading is human emotion, and our ability to not accept a loss. Chasing losers have ruined many gamblers, and they have also ruined traders - Nick Leeson being the best example.

Do yourself a favour murdok, and find a bot that wins more times than it loses - that's the secret to success. I once remember seeing 12 reds on the spin in Grosvenor Casino in Southampton - what were the odds of that? Anybody following Martingale on the basis that a black will win soon, would have been bankrupt and out of the game

[MemphisFlash]

dont get emotionally tied to the losses. forget it and if you have a sound strategy that you believe in keep going. if the losses affect you that much then maybe this is not for you.

[Abraquay]

When i first started it was difficult to accept a loss. Now it is part and parcel of the game. I would start with automation and develop your own bot.PLenty of Bet Angel videos on automation and help on this forum. I wouldn't start trying to trade pre-race with hundreds of pounds on the ladder.
Like Peter said in his greyhound blog little and often soon adds up. You need to put the hours in and the screen time. A few pounds traded on the greyhounds with a bot and some small manual intervention. Could have probably made a bit more as greyhounds were running till 10:30 but went for a pint instead.

[Euler]

Human nature means loss aversion is right up there in terms of instinct but so much money has been lost trying to avoid losses it's one of those great human contradictions!

[ShaunWhite]

Logic, not maths, dictates that loss recovery doesn't work.

If it was the case, people would use the flawless guarenteed 100% loss recovery 'system' in preference to their 'main' lossy system all the time. Why run a system that needs loss recovery if the loss recovery system itself is flawless?

If your car had two braking systems and one sometimes didn't work, and one always did....which would you use?

Too much focus on theoretical maths and not enough on logic and common sense, that mantra applies to many areas of trading as far as I can see.

[jimibt]

Logic, not maths, dictates that loss recovery doesn't work.

If it was the case, people would use the flawless guarenteed 100% loss recovery 'system' in preference to their 'main' lossy system all the time. Why run a system that needs loss recovery if the loss recovery system itself is flawless?

If your car had two braking systems and one sometimes didn't work, and one always did....which would you use?

Too much focus on theoretical maths and not enough on logic and common sense, that mantra applies to many areas of trading as far as I can see.

shaun, i think this neatly boxes up and puts to bed the whole (cough) ethos of loss recovery systems...

brilliant!!

[ShaunWhite]

Logic, not maths, dictates that loss recovery doesn't work.

If your car had two braking systems and one sometimes didn't work, and one always did....which would you use?

Too much focus on theoretical maths and not enough on logic and common sense, that mantra applies to many areas of trading as far as I can see.

shaun, i think this neatly boxes up and puts to bed the whole (cough) ethos of loss recovery systems...

brilliant!!

cheers jimi, I have to rely on common sense cos I'm not clever enough to do it with maths

[V1bzz]

dont get emotionally tied to the losses. forget it and if you have a sound strategy that you believe in keep going. if the losses affect you that much then maybe this is not for you.

I think he means (as I am looking for also) an accumulator that doesn't stop for the day when a horse is placed by the back bet loses or the lay bet wins. So it can just restart from the beginning again.
Ive been looking through the rules of these accumilators but can't seem to figure out what makes it stop after a loss for the day.

Why can't it just restart again. The OP has a valid question so stop being smart asses.
I make 3 grand a week with what I'm doing which I will not divulge to anyone. It has taken a lot of learning to make my own bots.

Instead of people pushing a person under the water when they are trying to learn, how about pulling them up.

Ive been doing this less than 3 months, have made my own bots combined with accumulator ready made bots. I just need a little bit of help with finding out how to stop the accumilators stopping as soon as you win/lose.

To everyone putting down the OP, grow up and try to help people learn in a positive way.

I HAVE A VERY PARTICULAR SET OF SKILLS; SKILLS I HAVE ACQUIRED OVER A VERY LONG CAREER. I will find you and I will delete your bots

P.s. don't rely on bots alone because you need to still be watching each market and placing other bets to build the profit.

[V1bzz]

Logic, not maths, dictates that loss recovery doesn't work.

If your car had two braking systems and one sometimes didn't work, and one always did....which would you use?

Too much focus on theoretical maths and not enough on logic and common sense, that mantra applies to many areas of trading as far as I can see.

shaun, i think this neatly boxes up and puts to bed the whole (cough) ethos of loss recovery systems...

brilliant!!

cheers jimi, I have to rely on common sense cos I'm not clever enough to do it with maths

Loss recovery is called matching a bet that goes against you. either laying or backing