Anybody interested in..

[jamesg46]

That was good of you to share your whole thought process. I've still to watch my recording back of this market, so I'll look out for this move against what I was doing. It's interesting that you would've left the trade open until it reached your entry price if your closing order hadn't been matched - I would have ended up scaling out. I definitely need to work on my patience!

I’ll often scale into trades. I have different stakes setup on different keystrokes so depending on confidence in something continuing I’ll often take a starting position and sell half after 4 or 5 ticks, wait for a pullback and then enter again through the break of the last high selling half after a few ticks before fully exiting. I haven’t traded today so I’ve not got any recordings but I’ve got a decent example where I was doing this exact thing yesterday and it ended up a loss so when I’m home tomorrow I’ll post it up.

I sometimes scale in, but most of the time I enter with my full stake. I've always scaled out of my trades though, taking around a third to half out after 3 to 4 ticks and letting the rest run if the conditions remain the same. I also often wait for a pull back to enter but hadn't really used them for adding to a position until recently. Thanks, that'll be interesting to see your recording tomorrow.

As you'll see with my scrolling of the ladder I was hoping for a big move on this & if it had of happened I would of very likely scaled up and down throughout the move. Anyway, I didn't get my way and it ended as a losing trade.

https://youtu.be/6_bkBG514CM

[kerza]

I’ll often scale into trades. I have different stakes setup on different keystrokes so depending on confidence in something continuing I’ll often take a starting position and sell half after 4 or 5 ticks, wait for a pullback and then enter again through the break of the last high selling half after a few ticks before fully exiting. I haven’t traded today so I’ve not got any recordings but I’ve got a decent example where I was doing this exact thing yesterday and it ended up a loss so when I’m home tomorrow I’ll post it up.

I sometimes scale in, but most of the time I enter with my full stake. I've always scaled out of my trades though, taking around a third to half out after 3 to 4 ticks and letting the rest run if the conditions remain the same. I also often wait for a pull back to enter but hadn't really used them for adding to a position until recently. Thanks, that'll be interesting to see your recording tomorrow.

As you'll see with my scrolling of the ladder I was hoping for a big move on this & if it had of happened I would of very likely scaled up and down throughout the move. Anyway, I didn't get my way and it ended as a losing trade.

https://youtu.be/6_bkBG514CM

You traded well in both videos, good execution and discipline, especially with how quick you were out of your losing trade. I'll give scaling in a go and see how I get on with it as I think it will suit me better too. As I said, I do tend to scale out so scaling in as well makes sense.

[jamesg46]

I sometimes scale in, but most of the time I enter with my full stake. I've always scaled out of my trades though, taking around a third to half out after 3 to 4 ticks and letting the rest run if the conditions remain the same. I also often wait for a pull back to enter but hadn't really used them for adding to a position until recently. Thanks, that'll be interesting to see your recording tomorrow.

As you'll see with my scrolling of the ladder I was hoping for a big move on this & if it had of happened I would of very likely scaled up and down throughout the move. Anyway, I didn't get my way and it ended as a losing trade.

https://youtu.be/6_bkBG514CM

You traded well in both videos, good execution and discipline, especially with how quick you were out of your losing trade. I'll give scaling in a go and see how I get on with it as I think it will suit me better too. As I said, I do tend to scale out so scaling in as well makes sense.

I think at around 07:10 was the opportunity for the 2nd entry, you can see the micro pullback happen at that point but my focus was maybe more on where could this go rather than what was happening in that moment.

It’ll be interesting to see/hear how you get on with it & if it makes a difference or has an impact on your patience.

[jamesg46]

From today... a bit of everything to ponder over for me in this one.

I feel that I didn't get what I wanted into or out of this.


https://youtu.be/OsJuj9w8b70

[Realrocknrolla]

From today... a bit of everything to ponder over for me in this one.

I feel that I didn't get what I wanted into or out of this.


https://youtu.be/OsJuj9w8b70

Probably not relevant to the video.

How much do you use your charts? I feel you could add the advanced charts to the bottom of your ladder and use the enhanced area. That still gives you the option of two advanced charts. Then you could possibly add more ladders with a little compression. More ladders means you can see more going on etc unless your rapid with a mouse.

Trivial i know but maybe help you also.

I posted one of my screenshots a while back, since i arranged it that way I catch things I wouldn’t have.

Edit viewtopic.php?f=41&t=24441

[jamesg46]

From today... a bit of everything to ponder over for me in this one.

I feel that I didn't get what I wanted into or out of this.


https://youtu.be/OsJuj9w8b70

Probably not relevant to the video.

How much do you use your charts? I feel you could add the advanced charts to the bottom of your ladder and use the enhanced area. That still gives you the option of two advanced charts. Then you could possibly add more ladders with a little compression. More ladders means you can see more going on etc unless your rapid with a mouse.

Trivial i know but maybe help you also.

I posted one of my screenshots a while back, since i arranged it that way I catch things I wouldn’t have.

I use them more than I'm probably aware. I have more that aren't visible on the recordings (there is 4 in total).

The reason I don't have them at the bottom of my ladder is because my ladder screen is on my laptop and I feel it compresses the ladder too much. I've got 2 bigger monitors that I don't use but I'm just so reluctant to change anything... my eyes are have their routine and I can't change that haha.

[Realrocknrolla]

From today... a bit of everything to ponder over for me in this one.

I feel that I didn't get what I wanted into or out of this.


https://youtu.be/OsJuj9w8b70

Probably not relevant to the video.

How much do you use your charts? I feel you could add the advanced charts to the bottom of your ladder and use the enhanced area. That still gives you the option of two advanced charts. Then you could possibly add more ladders with a little compression. More ladders means you can see more going on etc unless your rapid with a mouse.

Trivial i know but maybe help you also.

I posted one of my screenshots a while back, since i arranged it that way I catch things I wouldn’t have.

I use them more than I'm probably aware. I have more that aren't visible on the recordings (there is 4 in total).

The reason I don't have them at the bottom of my ladder is because my ladder screen is on my laptop and I feel it compresses the ladder too much. I've got 2 bigger monitors that I don't use but I'm just so reluctant to change anything... my eyes are have their routine and I can't change that haha.

Give the bigger monitors a bash. Have the one click screen on one. Guardian on another and the ladder on another. Information information information.

Don’t be a scaredy-cat

[jamesg46]

Probably not relevant to the video.

How much do you use your charts? I feel you could add the advanced charts to the bottom of your ladder and use the enhanced area. That still gives you the option of two advanced charts. Then you could possibly add more ladders with a little compression. More ladders means you can see more going on etc unless your rapid with a mouse.

Trivial i know but maybe help you also.

I posted one of my screenshots a while back, since i arranged it that way I catch things I wouldn’t have.

I use them more than I'm probably aware. I have more that aren't visible on the recordings (there is 4 in total).

The reason I don't have them at the bottom of my ladder is because my ladder screen is on my laptop and I feel it compresses the ladder too much. I've got 2 bigger monitors that I don't use but I'm just so reluctant to change anything... my eyes are have their routine and I can't change that haha.

Give the bigger monitors a bash. Have the one click screen on one. Guardian on another and the ladder on another. Information information information.

Don’t be a scaredy-cat

I probably should but I am actually scared of the adjustment period haha.

[jamesg46]

Not sure if anyone is still interested in doing this but...

https://youtu.be/sFYnHQBG8WQ

Seems I'm making a slow progress against my Lay bias. As before (if interested) I'd love some critique/advise.

[Maturin]

Hi James,

Keep the videos coming, they are useful. I'm also an avid user of charts, though it's taken me a long time to find a chart set up and indicators that I'm happy with (and of course they are not going to work every time). I have an advanced chart at the bottom of each ladder (4 ladders), plus the market overview and the betfair charts on another monitor. I've dabbled in various time frames and I know you have several different charts with different time frames on, but now it's just one for me to try and keep things simple.

I think you traded that well - resisting the temptation to bail when your profit decreased. That's probably one of my biggest issues, getting out too soon, particularly on these types of races which can exhibit longer trends. I made a tiny profit on this race, so well done. Keeping my hand off the mouse is a massive challenge for me in terms of discipline. I also note your use of keyboard shortcuts, that's something I've added and I think it definitely helps - I have several differnt shortcuts all within easy reach of three fingers of my left hand. A good tip for others.

I also agree about the Lay bias, I have that too, and am trying to take steps to not be so afraid of backing. Not sure why this is the case, maybe there is some pyschological reason why some people have that bias?

Maturin

[jamesg46]

Hi James,

Keep the videos coming, they are useful. I'm also an avid user of charts, though it's taken me a long time to find a chart set up and indicators that I'm happy with (and of course they are not going to work every time). I have an advanced chart at the bottom of each ladder (4 ladders), plus the market overview and the betfair charts on another monitor. I've dabbled in various time frames and I know you have several different charts with different time frames on, but now it's just one for me to try and keep things simple.

I think you traded that well - resisting the temptation to bail when your profit decreased. That's probably one of my biggest issues, getting out too soon, particularly on these types of races which can exhibit longer trends. I made a tiny profit on this race, so well done. Keeping my hand off the mouse is a massive challenge for me in terms of discipline. I also note your use of keyboard shortcuts, that's something I've added and I think it definitely helps - I have several differnt shortcuts all within easy reach of three fingers of my left hand. A good tip for others.

I also agree about the Lay bias, I have that too, and am trying to take steps to not be so afraid of backing. Not sure why this is the case, maybe there is some pyschological reason why some people have that bias?

Maturin

Thank you Maturin.

I’ll try to respond to your comments in some sort of order but I’ve got no idea how you select paragraphs and then respond to them in a sequence.

I tend to use the charts before and after a trade, I’ll gather my thoughts on what I think might happen based off of the charts before I enter but as soon as I’ve entered I’m laser focused on the ladder (almost tunnel vision) & I’m not sure if that’s a hindrance but I’m aware of it. I use them afterwards for analysis, which is why I’ve put the BF chart on the video capture… it just shows how compressed a view can be.

I do tend to have an exit in mind & I’ll hold (at times) regardless of market pressures (or noise), but this can sometimes get me in huge emotional trouble. If I’ve been in the green for a substantial move and I take nothing before a reversal it leaves me feeling frustrated, as much as my motto is “don’t become your emotions, they’re merely visitors” I can still lose my shit and think that it’s possible to get revenge on the next market.

I’m not sure why I have/had such a strong Lay bias. From day dot I would focus solely on finding Lay positions but it always frustrated me because I could see what I was missing out on… I actually feared being on the back side but I have to say making that effort to back has really helped.

[Maturin]

Agree with being focussed on the ladder, I'm trying to use it much more to get a sense of order flow. At the same time as watching the charts, which is why I have them pinned below each ladder. But I suppose I would say I'm more of a chartist, rightly or wrongly.

The lay bias is certainly interesting. My absolute worst trades occur (occurred hopefully, as I'm getting better at striking this behaviour out) when the facourite has been drifting, and then gets smashed in in the last few minutes. I would think it would still drift because of the lay bias, and end up with a heavy loss.

The way trading affects your thinking, emotions and decision making is just crazy when you consider it!

[jamesg46]

Agree with being focussed on the ladder, I'm trying to use it much more to get a sense of order flow. At the same time as watching the charts, which is why I have them pinned below each ladder. But I suppose I would say I'm more of a chartist, rightly or wrongly.

The lay bias is certainly interesting. My absolute worst trades occur (occurred hopefully, as I'm getting better at striking this behaviour out) when the facourite has been drifting, and then gets smashed in in the last few minutes. I would think it would still drift because of the lay bias, and end up with a heavy loss.

The way trading affects your thinking, emotions and decision making is just crazy when you consider it!

When we think about things it possibly makes much more sense to back, the reason being is that it’s traditional… when you overview the industry, it was built on backing horses so us Lay biased traders are pretty much against the grain of “the norm”. only when it comes to value does it make sense. I think the desire to get on a good thing is much more prevalent than getting on a bad thing (or Laying).

To your last comment in the last paragraph, it helped when I payed attention to one of Peters comments, “the markets literally breath in & out”.

There are some markets where I’ll do what I call “Chasing the fat”. Or basically when the market shoots off in either direction and then returns to the VWAP. You see this over and over again. I call it “Chasing the fat” because of it’s returning to the fat part of the traded volume…. Very creative (I know)

[Maturin]

I'm not sure what it is, but like you, I always seemed to try and find something to lay, rather than back. But that means missing out on steamers etc, though I suppose it's swings and roundabouts. Maybe the crossover points come into it?

Yes I remember Peter's comment about the market breathing in and out, and I'm trying to take advantage of that more. Looking at the ladder more also helps you spot where people are placing money at certain points.

I have VWAP on my chart, but for the type of trading I seem to be best at, and which seems to suit me more, moving averages seem better. Now, if I could only learn to follow my own rules!

[jamesg46]

I'm not sure what it is, but like you, I always seemed to try and find something to lay, rather than back. But that means missing out on steamers etc, though I suppose it's swings and roundabouts. Maybe the crossover points come into it?

Yes I remember Peter's comment about the market breathing in and out, and I'm trying to take advantage of that more. Looking at the ladder more also helps you spot where people are placing money at certain points.

I have VWAP on my chart, but for the type of trading I seem to be best at, and which seems to suit me more, moving averages seem better. Now, if I could only learn to follow my own rules!

If you look at the top of my ladder I’m measuring the distance from VWAP as a % (I know by the labels it’s not clear). Also I do record every market and label them “Through 6.0”, “Through 4.0”, “Through 3.0” etc and when I’m watching back I make a point of observing how any individual runner will trade once it’s broke through.

Anyway, you’ll have to excuse me because I’m a few beers deep, I’ll only end up rambling some incoherent nonsense.

Enjoyed the chat Maturin!