Still haven’t set up screen recording from what I seen in a previous post after all this time, what do you expect to happen, a edge just magically appear and hit you in the face?
Trading What I see !?
Just watching Peters video reference on twitter
https://t.co/GhUljwjieL?amp=1
And quite surprised when you get to the bit where he demonstrates how you should do it with some 1tick offset trades, that the loss area he indicated he would get out is about -8ticks, that's a huge risk:reward, 8:1 !!
So get 2 wrong and you need 16 wins to breakeven!!!!?
https://t.co/GhUljwjieL?amp=1
And quite surprised when you get to the bit where he demonstrates how you should do it with some 1tick offset trades, that the loss area he indicated he would get out is about -8ticks, that's a huge risk:reward, 8:1 !!
So get 2 wrong and you need 16 wins to breakeven!!!!?
One Dream, One Soul,
One Prize, One Goal,
One Golden Trade, Of what should be,
It's a kind of magic
Vid may be more of a sort of proof of concept.
Peter does allow for noise quite well though in his trades, consciously choosing to accept a higher average loss for a boost in strike rate.
Need to find the balance between the two, specific to current mkt conditions in front of you e.g. wider stops for gappier irish stuff and tighter for higher quality UK action
Peter does allow for noise quite well though in his trades, consciously choosing to accept a higher average loss for a boost in strike rate.
Need to find the balance between the two, specific to current mkt conditions in front of you e.g. wider stops for gappier irish stuff and tighter for higher quality UK action
Why not? As long as you have a SR of over 89% you can lose 8 ticks on average and you will still make a profit. In the long run out of 1000 trades you will win almost 890 if you trade at random.goat68 wrote: ↑Thu Nov 12, 2020 9:49 pmJust watching Peters video reference on twitter
https://t.co/GhUljwjieL?amp=1
And quite surprised when you get to the bit where he demonstrates how you should do it with some 1tick offset trades, that the loss area he indicated he would get out is about -8ticks, that's a huge risk:reward, 8:1 !!
So get 2 wrong and you need 16 wins to breakeven!!!!?
Another big losing day...
I've had enough of this unfortunately.
My advice to anyone reading all this is be prepared for several years long haul, and extreme frustration. Sports trading is very illogical, and not suited to some mindsets, including mine I think. If you want to make money invest in a proper job!!
I've had enough of this unfortunately.
My advice to anyone reading all this is be prepared for several years long haul, and extreme frustration. Sports trading is very illogical, and not suited to some mindsets, including mine I think. If you want to make money invest in a proper job!!
then stop and then let this thread naturally fade away.goat68 wrote: ↑Fri Nov 13, 2020 2:56 pmAnother big losing day...
I've had enough of this unfortunately.
My advice to anyone reading all this is be prepared for several years long haul, and extreme frustration. Sports trading is very illogical, and not suited to some mindsets, including mine I think. If you want to make money invest in a proper job!!
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spreadbetting
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
Take a break and look at other sports to trade, the nags are a nightmare because so many moves pre-off are down to insider info or form based waiting for prices to be hit. The money just won't arrive in an orderly queue and moves can soon finish when one player has filled their book.
I haven't been following this thread but I'm sure you've had enough several times before.goat68 wrote: ↑Fri Nov 13, 2020 2:56 pmAnother big losing day...
I've had enough of this unfortunately.
My advice to anyone reading all this is be prepared for several years long haul, and extreme frustration. Sports trading is very illogical, and not suited to some mindsets, including mine I think. If you want to make money invest in a proper job!!
Notwithstanding the fact that learning trading is very difficult, I don't think that's appropriate advice for newbies. Firstly, there is no one size fits all when it comes to trading, some struggle to learn, others pick it up quickly.
Secondly, as you've probably heard before, mindset and psychology are fundamental to trading. You're clearly getting frustrated with comments like: another big losing day, I've had enough, this is too random, get a proper job, etc.
Thirdly, trading does require a lot of patience. I sense you're expecting to be making rapid progress from, perhaps, simply doing the same thing?
"My advice to anyone reading all this is be prepared for several years long haul, and extreme frustration."
YES! this applied to me.
Only the especially gifted make rapid progress and I wasn't in that category.
YES! this applied to me.
Only the especially gifted make rapid progress and I wasn't in that category.
Last edited by Emmson on Fri Nov 13, 2020 3:49 pm, edited 1 time in total.
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smallplayer
- Posts: 120
- Joined: Wed Aug 17, 2016 8:30 am
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Trader Pat
- Posts: 4327
- Joined: Tue Oct 25, 2016 12:50 pm
I don't think you've given yourself the best opportunity to succeed. You've been given a lot of good advice that you've chosen to ignore. Myself and others have advised you to record your trades and view them back but you haven't done that. When you don't do that then I'm not sure how you're ever going to see where you're going wrong because in the heat of a trade you cant see everything going on in the market. When you view a trade back you can then ask yourself why you chose that moment to get involved in the market, if you can't answer that question then it means you shouldn't have opened a position in the first place.goat68 wrote: ↑Fri Nov 13, 2020 2:56 pmAnother big losing day...
I've had enough of this unfortunately.
My advice to anyone reading all this is be prepared for several years long haul, and extreme frustration. Sports trading is very illogical, and not suited to some mindsets, including mine I think. If you want to make money invest in a proper job!!
You also seem over reliant on charts, even though plenty have advised you that while charts are important you should primarily focus on order flow.
And last point I'd make is you've only been at it for a few months so I'm not sure what you though was gong to happen when you started. Very very few people are consistently profitable after such a short time. There are usually 3 phases, losing, break even and eventually profitability. For me break even was by far the longest but I realised after a while that I still didn't know how to trade even though I wasn't losing money, it just meant my discipline had improved.
You touch on a very important piece of the puzzle though when you talk about mindset. It really isn't for everyone but maybe try a different sport and see how you get on.
yeah, alas, that was me:
good luck moving on.. come back refreshed.jimibt wrote: ↑Sat Sep 05, 2020 8:39 pm...
Sir goat - i admire your commentary but feel that you are honestly expecting far too much far too soon. Slow down, reflect and be realistic, those traits will see you still making comments here in 2 years time. trust me. All the go faster guys that i've seen on here suddenly have a ZERO post history after about 4-6 months (you can check!!), which indicates (to me) sudden realisation/failure.
it's about the pace, not about the race.