£25 a day - A beginner's journey

[Kai]

Volatility is just a function of liquidity, so you're saying you only seek to trade in illiquid markets?

I think it's more a function of price extremes? While low liquidity can exacerbate volatility, the primary drivers are still shifts in market sentiment and release of new info etc

aaahhhhh the old classic "just work harder" gets me every time........

If I were to show you how many failed spreadsheets and Python projects I have, it would make you cry. Working harder isnt the answer when you don't know what you're looking for!

I agree with you btw, I don't think it's enough to work hard and never said that

The frustrating paradox of trading is that "hard work" aka consistent effort which would usually lead to a promotion in a conventional career or at the very least pay the bills, is only the starting point here, with zero guarantee of profit

Only deepwork really shifts the odds, otherwise all of my friends would be top traders by now

[ShaunWhite]

Ahhhh, a classic Shaun reply, all so very black and white, so people are either making 7 figures or they are losing traders...?

I said a handful out of a couple of thousand.

In a market with 100k trade, there's probably only about one or two grand that can be extracted as profit

Based on what exactly?? If a market is heavily skewed to favouritism for a selection and it doesn't come in, then there is a ton of money to be made being on the other side of that.

Based on maths, when markets settle and winners have been paid (backers and layers) what's left on the table is the tvol * avg spread. The same way a bookie's profit comes from the overround. Same in any market.

I don't get what successful people's journeys are. Where do they start/how do they start...?

Varies, I used to do a lot of miles to meet up with people who do well, and listened more than I spoke. Either organised events or as a consequence of friendships made by chatting in PMs or emails.

[ShaunWhite]

If I were to show you how many failed spreadsheets and Python projects I have, it would make you cry. Working harder isnt the answer when you don't know what you're looking for!

You might like the Betfair Aus channel who get into the techy weeds sometimes...
https://www.youtube.com/watch?v=Q6Q36yDhhE0
https://www.youtube.com/watch?v=zBU5JA4 ... jpy_PBoZEZ

[Goobs]

Varies, I used to do a lot of miles to meet up with people who do well, and listened more than I spoke. Either organised events or as a consequence of friendships made by chatting in PMs or emails.

Well I hope it went better than the utterly abhorrent things you said to me over PM....

[WelshMage]

Not enough info provided by you to give a definitive answer.

A lot will depend on your bank size and what your bet size is in comparison. If you have a bank of say £500 you should only risk about 3% of your bank, max. That said, if you are laying horses and factoring in that you only want to lose £15, you could go on a run I guess to make yourself £25 in a 3 hour sitting. I would spend the 3 hours scalping with very small stakes to see if you can start to read the markets (weight of money, liquidity, all that stuff). If you're patient and knowledgeable, and most importantly, disciplined, you can make money every day scalping using BA trading tools like Offset with stop loss, or trailing stop loss.

I can only wish you well and good luck.

WelshMage

[ShaunWhite]

Varies, I used to do a lot of miles to meet up with people who do well, and listened more than I spoke. Either organised events or as a consequence of friendships made by chatting in PMs or emails.

Well I hope it went better than the utterly abhorrent things you said to me over PM....

Such as?

[Goobs]

Want me to share with the group...?