My Journey, day by day

[jimibt]

And for the record I didn't think he was being boastful, just establishing his credentials so that advice could be pitched appropriately.

Having a million is not a credential (he didn't say how he got it) and isn't information needed to give advice!

sook - ooo, nippy sweeties... lol, this is a great thread, will definitely monitor

[ShaunWhite]

And for the record I didn't think he was being boastful, just establishing his credentials so that advice could be pitched appropriately.

Having a million is not a credential (he didn't say how he got it) and isn't information needed to give advice!

He did say how he'd made it actually and it tells me he's no muppet. I'd pitch my answers differently for a mature intelligent successful man than a kid without a penny or a clue, so personally I like to know who I'm talking to even if you don't especially care.

[Halliday]

But they are beneficial... to me.

To look back on my thought processes at the time and end of the day. Thats the whole point of the thread.

And how do you know they arent beneficial to anyone else? Are you everyone elses spokesperson?

Im not being defensive, just stating why im doing them. Clearly they are no use to you so just dont look. Why do you feel the need to chime in?

Again you say it's "my thread " but if you choose to post on a message board you can't just expect replies which agree with your point of view. So it's rather odd for you to say " why do you feel the need to chime in " unfortunately you can't censor others opinions on a message board

Clearly your a complex character ( as most who decide to do a trading diary appear to be ), and certainly your tone has changed since your opening posts.

And I'm sure you could look back on your thought process without posting your p/l.. couldn't you ?

Don't be such a sensitive soul and try and enjoy what your doing, as it's beginning to look as though your not.

Stay smiley and enjoy your trading and life !!

[trader44]

i find this thread interesting and if it helps you keep posting .i am sure you will get mixed reviews but you get that in all walks of life anyway.
as for this comment you made

" I just don't enjoy trading saturdays - i know that i should because of the increased liquidity,"
there are no rules to liking or disliking saturdays i know a few people who dont trade saturdays and some who do and i think its down to the individual.
good luck with your trading journey

[Original-Soultrader]

Not such a good day today.

I did consider not trading at all today because of the looming markets at chelt tomorrow, however I did.

First thing is it's monday so it's increase stake day - only a fiver a click extra - i'm doing £20 a click now.

I do stage my increases pretty small so my head can get used to them as time goes on. Initially what happens is I actually tend to place less money in the market. for example when trading at £15 i would generally be 3 clicks into a trade (so £45) but when i increase i'm always a little more cautious. what this means is that when i win I dont really make much more money but i still allow the 'wiggle room' just the same so my losses are a bit bigger.

Normally at day 2 of the new stakes i'm back to normal and getting used to them.

This week this might not happen - I'm seriously considering NOT trading cheltenham and just observing. (it might be difficult lol)

I've been watching Peter's video's on the festival and I don't really understand how you can trade a market that doesn't move much. It seems you need to be trading a grand a time to make it worthwhile and I just don't want to do that at this point in my journey.

Any advice here would be appreciated.

So anyway, by the last race today I had finally began putting in the 3 orders that is my usual so £60 and it bit me. Not too worried about it because the wins will be bigger too once i get a run.

so, especially for me to look back on, here's the p&l

[Dallas]

This week this might not happen - I'm seriously considering NOT trading cheltenham and just observing. (it might be difficult lol)

I've been watching Peter's video's on the festival and I don't really understand how you can trade a market that doesn't move much. It seems you need to be trading a grand a time to make it worthwhile and I just don't want to do that at this point in my journey.

Any advice here would be appreciated.

With small stakes, Cheltenham will soon become very boring for you and you'll likely end up losing just through trying to force yourself into doing something.

If you are going to trade it I'd recommend using Betdaq (software is free) as you'll get matched a lot quicker.

Alternatively, you could just look at the support cards, there is usually still some good action on these with quite a few good opportunities, they tend to benefit from some overspill of festival money even with most of the big hitter focusing heavily on Cheltenham

[Derek27]

Hi OS,

As it's the season of good will for racing fans, I just thought I'd apologise for having a bash at you a few days ago. If you do decide to trade Cheltenham it will take a lot of patience - the market does move, it just doesn't happen quickly.

Good luck,

Derek

[Original-Soultrader]

Cheers Derek, appreciated.

Dalls, is the betdaq betangel a paid for add-on?

[Dallas]

Cheers Derek, appreciated.

Dalls, is the betdaq betangel a paid for add-on?

No its completely free separate piece of software, you just need to download and install
https://www.betangel.com/download/?prod ... ngelBetdaq

If you do give it a go make sure sign up for the Cheltenham promo
viewtopic.php?f=16&t=15992

[Original-Soultrader]

Tuesday then - lost 11 quid on the first at chelt - got in but couldnt get out so i let it go in play hoping the fav would drop a couple of ticks to break even - whatever! mistake.

rest of the day i just watched chelt and traded the other meetings until 4:20pm when the entire street had a 3 hour power cut. I do have a UPS but it only manages around 15 minutes on my pc.

so that was that.

think i'm gonna leave chelt to the big players and the punters and just trade the other events. at least i didn't log a losing day.

results logged below

[BrianS]

Thanks for the post.
How do you set auto stake to counter tick size on higher odds?
As I am a beginner too and just trading favourites but want the tick size to match the odds and am using 10 quid for below 3.0
Thanks

[ShaunWhite]

Tuesday then - lost 11 quid on the first at chelt - got in but couldnt get out so i let it go in play

Couldn't get out? At Cheltenham? Maybe you just chose not to?

I agree with Derek, the markets move but maybe just not so fast or so far, but that reduced volatility means you can go bigger with the same risk you're used to. Swings and roundabouts.

[ShaunWhite]

Thanks for the post.
How do you set auto stake to counter tick size on higher odds?
As I am a beginner too and just trading favourites but want the tick size to match the odds and am using 10 quid for below 3.0
Thanks

The closest approximation would be using 'by liability' staking but be careful when short odds on.

[Original-Soultrader]

Couldn't get out? At Cheltenham? Maybe you just chose not to?


Sorry Shaun. Change to "couldnt get out at a profit"

[BrianS]

Thanks for the post.
How do you set auto stake to counter tick size on higher odds?
As I am a beginner too and just trading favourites but want the tick size to match the odds and am using 10 quid for below 3.0
Thanks

The closest approximation would be using 'by liability' staking but be careful when short odds on.

Thanks Shaun. Will try Practice mode for that