I need help and advice on trading please

[alonzoharris]

Hi I have been trading for 2 years now and not consistent with my p&l. I have tried different strategies and I still have problems trying to stay consistent. The problem I have is when I plan my trades, do the research and everything, I lose, especially when I start with a bank like 500-1000£. But when I start with a bank of 10£ mostly I can reach 1k+ in one day on football trading on Saturday. Then once I have a huge bank things take a turn. Any advice??

[Jukebox]

........ But when I start with a bank of 10£ mostly I can reach 1k+ in one day on football trading on Saturday. Then once I have a huge bank things take a turn. Any advice??

If you can turn £10 into 1k+ in one day as you say
Bank the 1k+, then start again with £11 the next time and build that to £1100, ie increase your stakes gradually.

[murdok]

I start with a bank of 10£ mostly I can reach 1k+ in one day on football trading on Saturday. Then once I have a huge bank things take a turn. Any advice??

do that every day do you want better than that ....

[ShaunWhite]

The problem I have is when I plan my trades, do the research and everything, I lose, especially when I start with a bank like 500-1000£. But when I start with a bank of 10£ mostly I can reach 1k+

Sounds like you're not sticking to the plan if you're letting the emotion of your stake affect you. You shouldn't even necessarily be aware of whether you're staking £10 or £1000.

And when you say consistent, how many straight weeks are you turning £10 into £1000? It could be that you have a few lucky days, increase your stake and then hit the losses. Turning £10 into £1000 in one day sounds like your taking on a crazy amount of risk and I can't see how that sort of return is sustainable.

[Kai]

Sounds like OP is suffering from a bad case of first world problems.

[alonzoharris]

Since I started trading I have turned 10£ into 1k+ over 10 times, having loss of 673£ to date. And yes it's not sustainable that why I need a decent consistent return. The craziest weekend I had, i turned 23£ to 12k over Saturday, Sunday. Trying to get similar results every weekend hard. So far every week I only deposit 20/30£ and see where things go. Can't deposit 500-1000£ at all. So sometimes when I have good returns like that I withdraw and lock account for either weeks or months. I don't want to do that but I know when it comes to large stakes I lose.

[Emmson]

Value every pound, if I had a bank of £10 ( and I have previously) turning it into £11 after day 1 would be satisfactory.

[Derek27]

You won £12K but you still needed to deposit £20?

Why didn't you just withdraw all of it less £20?

And how much did you have in your account before you traded the market that ended in £12K in your account?

Why don't you just carry on trading to £20 stakes if you can win thousands with it? Why do you even need to increase stakes?

[rik]

I always win when stake big so I stopped mugging about with £10, never get lucky on the small stake

[Kai]

Sounds like a bad trolling attempt to me, rather than a genuine plea for help

Turning water into wine is apparently a bad thing, when a lot of people can't even make £10 with a bank of 10k.

[ShaunWhite]

I turned 23£ to 12k over Saturday, Sunday.
Can't deposit 500-1000£ at all.

1.How did you turn £23 into £12,000 in two days?
2.Why worry about depositing £1,000 when you already have £12,000 in your account?

So sometimes when I have good returns like that I withdraw and lock account for either weeks or months.

Yeah the idea with trading is to make money, then immediately ban yourself for months.

Sounds like you have a gambling problem and calling it 'trading' is deluding yourself.
No trader could possibly make a 52,173% return in two days the way you have.

[Kai]

So sometimes when I have good returns like that I withdraw and lock account for either weeks or months.

Yeah the idea with trading is to make money, then immediately ban yourself for months.

Sounds like you have a gambling problem and calling it 'trading' is deluding yourself.
No trader could possibly make a 52,173% return in two days the way you have.

Oh ye of little faith Shaun, don't be jealous, with great power comes great responsibility and all that.

If he's looking for investors I'd be more than happy to send over a tenner every weekend and let him work his magic, we can even go halfsies on the prophets.

[ShaunWhite]

If he's looking for investors I'd be more than happy to send over a tenner every weekend and let him work his magic, we can even go halfsies on the prophets.

There's certain enough prophet (sic) to go around.

[wearthefoxhat]

........ But when I start with a bank of 10£ mostly I can reach 1k+ in one day on football trading on Saturday. Then once I have a huge bank things take a turn. Any advice??

If you can turn £10 into 1k+ in one day as you say
Bank the 1k+, then start again with £11 the next time and build that to £1100, ie increase your stakes gradually.

This post from Jukebox (above).

The huge bank problem is probably something to do with lack of liquidity in the market or trading out of your comfort zone with bigger risks.

When you have a £1000 day/week/month, reward yourself/celebrate. (It could be a form of self sabotage/the feeling you don't deserve to do well at trading/guilt)

Teach someone you trust how to do it and let them replicate the process or takeover at the £1000 stage. You can then start again and repeat/rinse rinse at £10, they can do the same with £1000....or have a room full of people doing the same @ £10...

[Trader Pat]

About 12 years ago when I first discovered Betfair I once turned €240 into 25k over the course of 4 days. I instantly thought I was the greatest trader in history, until I lost most of it over the course of the next 2 weeks.

I thought because I had discovered 'laying' that I was trading, but quickly realised I was still a mug punter.

Trading is about having a plan for every penny you place on the exchange and sticking to it, if you cant do that or you dont have a plan to begin with then you are just gambling.

If he's looking for investors I'd be more than happy to send over a tenner every weekend and let him work his magic, we can even go halfsies on the prophets.

There's certain enough prophet (sic) to go around.

There's too many prophets on here as it is