I'm using £2 stakes...
But darn frustrating 5 losses out of 5 so far
Trading What I see !?
I traded 10 races yesterday and hit all 10. I'm quite picky when it comes to what I trade. I'm by no means a big player I just follow the money. Haven't traded today as the bloody missus thought it was a good idea to start decorating. However, 100% is a good day for me, I hit anything between high 60's and low 80's. Took me a long time to be able to accept when I'm wrong, but I can cut my losses quite quickly now.goat68 wrote: ↑Thu Nov 19, 2020 3:34 pmWhy is the price action so random then?
Have you started screen recoding your trading yet?
5 races
Trade what you see, not what you think you're likely to see.
If you have spotted a steamer, it's likely that the majority of the move has already happend.
Funny, both of those seem to contradict one another but,
"When people are being greedy, be fearful & when people are being fearful, be greedy."
Tough day for me today as well, after a run of profitable days, lost the first 5, been better since
frutrating as i spent 4 hours last night updating my results spreadsheet from my notes and watching my trading recordings
from my results theres clearly certain races and scenerios im good at, and others im not, { anything with the word novice in it, and competitive handicaps }
after today im going to just stick to what im good at and see what my results look like, ill keep on watching and recording the other races so i can review and make notes, see if i cant find an angle, these races where there are 5 horses all at between 5 and 6 are killing my profits
ahh -grasshoppa!!jamesg46 wrote: ↑Thu Nov 19, 2020 4:01 pmTrade what you see, not what you think you're likely to see.
If you have spotted a steamer, it's likely that the majority of the move has already happend.
Funny, both of those seem to contradict one another but,
"When people are being greedy, be fearful & when people are being fearful, be greedy."
Your comment basically agrees with what I see in that by the time you see/determine support/resistance/trend it breaks/ends !jamesg46 wrote: ↑Thu Nov 19, 2020 4:01 pmTrade what you see, not what you think you're likely to see.
If you have spotted a steamer, it's likely that the majority of the move has already happend.
Funny, both of those seem to contradict one another but,
"When people are being greedy, be fearful & when people are being fearful, be greedy."
You have to magically anticipate it...it's no good saying it's bounced off here 4 times already so it will bounce again... The 5th time it goes straight through!
I am always anticipating something but that doesn't mean I have money waiting in the market based on my anticipation. If a price is ranging between 5.5 & 6 and you're anticipating it will bounce off of 5.5 if it gets backed down to that level again, you don't have to have a trade waiting to prove your hypothesis, if it does bounce then enter, 5.6 5.7 5.8 & 5.9 are all still available. It either does or it doesn't happen.goat68 wrote: ↑Thu Nov 19, 2020 4:31 pmYour comment basically agrees with what I see in that by the time you see/determine support/resistance/trend it breaks/ends !jamesg46 wrote: ↑Thu Nov 19, 2020 4:01 pmTrade what you see, not what you think you're likely to see.
If you have spotted a steamer, it's likely that the majority of the move has already happend.
Funny, both of those seem to contradict one another but,
"When people are being greedy, be fearful & when people are being fearful, be greedy."
You have to magically anticipate it...it's no good saying it's bounced off here 4 times already so it will bounce again... The 5th time it goes straight through!
Sorry you lost me there....?jamesg46 wrote: ↑Thu Nov 19, 2020 4:47 pmI am always anticipating something but that doesn't mean I have money waiting in the market based on my anticipation. If a price is ranging between 5.5 & 6 and you're anticipating it will bounce off of 5.5 if it gets backed down to that level again, you don't have to have a trade waiting to prove your hypothesis, if it does bounce then enter, 5.6 5.7 5.8 & 5.9 are all still available. It either does or it doesn't happen.goat68 wrote: ↑Thu Nov 19, 2020 4:31 pmYour comment basically agrees with what I see in that by the time you see/determine support/resistance/trend it breaks/ends !jamesg46 wrote: ↑Thu Nov 19, 2020 4:01 pm
Trade what you see, not what you think you're likely to see.
If you have spotted a steamer, it's likely that the majority of the move has already happend.
Funny, both of those seem to contradict one another but,
"When people are being greedy, be fearful & when people are being fearful, be greedy."
You have to magically anticipate it...it's no good saying it's bounced off here 4 times already so it will bounce again... The 5th time it goes straight through!
Basically imo I feel it would be a disadvantage to have money waiting at the top or bottom of a traded range, unless it was a very thickly traded market. In the screen grab the recent traded volume is between 5.6 & 6.4 - I personally wouldn't have money waiting at 5.6 on the off chance that it got backed down to those levels in anticipation of a bounce, I would instead wait and see if it actually happened, which would leave me an opportunity at 5.8 5.9 6.0 & 6.2. Why would I need to expose myself on a maybe when I could better my chances with it actually is.goat68 wrote: ↑Thu Nov 19, 2020 4:58 pmSorry you lost me there....?jamesg46 wrote: ↑Thu Nov 19, 2020 4:47 pmI am always anticipating something but that doesn't mean I have money waiting in the market based on my anticipation. If a price is ranging between 5.5 & 6 and you're anticipating it will bounce off of 5.5 if it gets backed down to that level again, you don't have to have a trade waiting to prove your hypothesis, if it does bounce then enter, 5.6 5.7 5.8 & 5.9 are all still available. It either does or it doesn't happen.goat68 wrote: ↑Thu Nov 19, 2020 4:31 pm
Your comment basically agrees with what I see in that by the time you see/determine support/resistance/trend it breaks/ends !
You have to magically anticipate it...it's no good saying it's bounced off here 4 times already so it will bounce again... The 5th time it goes straight through!
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