Hi Ladies and Gents,
whilst wrestling with the usual problems of accruing races with miniscule profits together with races of juicy losses, it occurred to me that perhaps those things which losing traders have identified as mistakes may be as valuable as those which winning traders identified as correct actions.
Well here's one thing I have found, the indicators used to predict market movement (in horse racing) are less reliable when the animal is priced at less than 3. I lose on about 4 in 5 of those races, whereas I only lose in about 2 in 5 of the others. Resultant action? Well for me it is to avoid those beasts, after all there are always others in the race,
cheers, P.
Is Advice From Losing Traders Of Any Value?
I spent 5 years part-time trading before going self-employed.
I analysed every single trade I done, and actually looked forward to my losing bets as much as my winners!!
From a trading point of view, I learnt more from mistakes than I did from successful trades.
I now happily post a 91% full-time strike rate on football, but couldn't have done it without the help from some cracking losses over the years
I analysed every single trade I done, and actually looked forward to my losing bets as much as my winners!!
From a trading point of view, I learnt more from mistakes than I did from successful trades.
I now happily post a 91% full-time strike rate on football, but couldn't have done it without the help from some cracking losses over the years
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
My advice is record your trading and watch it over time and again to identify where you are making your mistakes.
"The only real mistake is the one from which we learn nothing." ~John Powell
"The only real mistake is the one from which we learn nothing." ~John Powell