Trading What I see !?

[The Silk Run]

Loox GOOD darling ...

Thanks Sweety!

Kool. And back on topic. A GOOD read. And lots of support behind you.

[goat68]

My usual I can't trade Saturdays!!
Far too much overlap, one race finishes 2mins before next starts....
I did better when there was space
Managed to make £5 though

[Maturin]

My usual I can't trade Saturdays!!
Far too much overlap, one race finishes 2mins before next starts....
I did better when there was space
Managed to make £5 though

I agree with that Goat - I've traded 34 markets today. S/R was 58% but I still ended slightly down. Kept jumping in with only a few minutes to go cause of the congested feel to things. Contrast that with the last 6 races at Wolves, where I've had all 6 being positive trades, picking up on long term trends from about 30 mins out.

Think I need to be more selective on Saturday and maybe only trade 20 races or so.

[speedyhamster]

A reasonably good day, just trying to apply all the bits i've learned, and control myself! Only 5 losses in 23 markets.
Just 2 "blips", both due to massive "layers", I think I need to accept about 1 in 10 markets I trade I will get "blips" due to something out of the norm, it is then my task to control "myself" to not overreact, which I managed today (just!).
All in all a good day, with a reasonable profit £32.
TodayPL.jpg

Looks like you are making good progress

[goat68]

Disastrous day, given all the money I made over last 3 days back...
I think i've just proved being greedy and trying to trade low volume mondays does not work, if there's not enough volume then things are not as predictable...

TodayPL.jpg

[Kai]

Mindset still not quite there.

If you're not regularly taking money out of your account every day and such, then why think of any profit as "money made" yet. As long as you're not blowing all of it, it's just there for learning purposes.

[goat68]

Mindset still not quite there.

If you're not regularly taking money out of your account every day and such, then why think of any profit as "money made" yet. As long as you're not blowing all of it, it's just there for learning purposes.

That, is exactly what has gone through my head, nothing lost, but things learned..

[Korattt]

I think i've just proved being greedy and trying to trade low volume mondays does not work, if there's not enough volume then things are not as predictable

they can work..

0858612B-9685-46EF-BB8F-D40E08AACB19.png

[goat68]

I think i've just proved being greedy and trying to trade low volume mondays does not work, if there's not enough volume then things are not as predictable

they can work..


0858612B-9685-46EF-BB8F-D40E08AACB19.png

Show off !!

[goat68]

I think i've just proved being greedy and trying to trade low volume mondays does not work, if there's not enough volume then things are not as predictable

they can work..


0858612B-9685-46EF-BB8F-D40E08AACB19.png

I am seeing a theme with other peoples PL, in that very few or very small losses. I let my trades swing to -potential profit, hence my large losses...

[spreadbetting]

I am seeing a theme with other peoples PL, in that very few or very small losses. I let my trades swing to -potential profit, hence my large losses...

Always got to protect your bank as that's what keeps you in business. You'll see the old adage "let your profits run and cut your losses short" many times but it works. Big losses are the main things that throw traders off their stride as it makes chasing very tempting, if you can avoid those losses it might make trading that little bit more boring but does make it a lot less stressful and profitable.

Small wins soon build up as there's so many races in the day but to have a day's work wiped out by one loss is just soul destroying and hard from newer traders to accept. Probably 200 races a week at the moment so even an average fiver a race will return you a decent weeks profit.

[Korattt]

I am seeing a theme with other peoples PL, in that very few or very small losses.

Always got to protect your bank as that's what keeps you in business.

what Spreadbetting is saying is paramount, put your money on a position where you can say to yourself if it hits there then I’m out, create a boundary around your position, frame your trade

[smallplayer]

What do you guys generally do when you miss your exit...leave/queue it or take bigger loss?

[Korattt]

What do you guys generally do when you miss your exit...leave/queue it or take bigger loss?

leave it there but keep an eye what other runners are doing, like today kept a position open & some numpty took five ticks out including where I was, went against me for a bit but nothing else was there in front of me for me to change my mind so I left it, can’t remember what race it was though

[smallplayer]

Thanks Korattt..and you've said before that for you, you are generally looking at max loss of 4 ticks or so?