I've been keeping records of my trades since early July, and quite frankly, have been getting nowhere. Jumping onto movements only to see them turn almost straight away and of course loosing money in the process.
I've watched countless videos of people putting trade after trade through (in seconds), and making money. Not me, I'm just not quick enough.
A couple of days ago I was trawling the 'net and saw someone only putting through 1 or two trades per race, and he was doing quite well. So.........
I'm trying a new tack, quality over quantity, and although its early days, it seems to suit me a lot more. No more chasing movements hoping to make a buck or two, but usually loosing three or four. I'm going to take things a bit more slowly.
If you look at my results, since early July, my total profit is £9.03, and £6.68 of that has come in the last two days.
So the message must be, go with what style suits you, and don't try to make money the way other people do.
Cheers,Nigel.
Quality Over Quantity
You may well be benefiting from taking a step back and thinking more about what you are doing as opposed to like you say, jumping into things. You will learn more like this. Once you get more insights into the markets you will probably find that you'll be instigating more and more trades again, only this time more of them successful (or at least scratched.)
There might be a single secret to learning how to make money trading. If there is I don’t know what it is.
There might be a quick way to becoming profitable. For some there probably is a way.
If you want a quick way, keep looking, you may find one. I didn’t find one myself but the really good news that I think is far more important is that there doesn’t have to be one.
You can learn trading the long hard frustrating way too! Now isn’t that fantastic to know?
That is the way I learned and I was ready for giving up many times. And did actually give up on occasion.
Now, stubbornness has cost me dearly in many areas of my life but without it I would have finished with betfair long ago. Nowadays I like to call it ‘determination’.
When you look at the trading screen do you think everyone sees exactly the same thing? Of course not!
Have you considered that Peter Webb and Adam Heathcote fill each other’s market orders yet still make profit on the same race!
There is more than one way to skin a cat!
When you are learning something, remember you are involved in a process not an event. I planted some tomato seeds with my 4 year daughter Holly, the next morning she couldn’t wait to wake me up to go pick our new tomatoes!
Have belief in your ability to learn. You already learned some amazing things you know. You couldn’t walk or talk once! Remember? But you wanted to do it so bad you persevered and persevered and the hell you wouldn’t be beat!!
You cannot grow from seed to a fruit overnight – even Holly will now tell you that. The seed needs feeding and nurturing and our patience and it will get their. But also remember that whilst it might look like a fully grown tomato, it will still be green for a while before it fully matures.
There might be a quick way to becoming profitable. For some there probably is a way.
If you want a quick way, keep looking, you may find one. I didn’t find one myself but the really good news that I think is far more important is that there doesn’t have to be one.
You can learn trading the long hard frustrating way too! Now isn’t that fantastic to know?
That is the way I learned and I was ready for giving up many times. And did actually give up on occasion.
Now, stubbornness has cost me dearly in many areas of my life but without it I would have finished with betfair long ago. Nowadays I like to call it ‘determination’.
When you look at the trading screen do you think everyone sees exactly the same thing? Of course not!
Have you considered that Peter Webb and Adam Heathcote fill each other’s market orders yet still make profit on the same race!
There is more than one way to skin a cat!
When you are learning something, remember you are involved in a process not an event. I planted some tomato seeds with my 4 year daughter Holly, the next morning she couldn’t wait to wake me up to go pick our new tomatoes!
Have belief in your ability to learn. You already learned some amazing things you know. You couldn’t walk or talk once! Remember? But you wanted to do it so bad you persevered and persevered and the hell you wouldn’t be beat!!
You cannot grow from seed to a fruit overnight – even Holly will now tell you that. The seed needs feeding and nurturing and our patience and it will get their. But also remember that whilst it might look like a fully grown tomato, it will still be green for a while before it fully matures.
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MarkWraith
- Posts: 8
- Joined: Sat Aug 15, 2009 8:08 pm
Is there any version of the spreadsheet you showed here that is available for us to use with our own results?