good reading
To be honest Ferru, you seem to have read every single article on how to trade, as you make great comments and amazing trading quotes, yet you still struggle to make it work.
As a child you need to take the armbands off to learn to swim, and remove stabilizers to ride a bike - trading is no different
You can read about this game all day, but there's no substitute for an education in the markets
As a child you need to take the armbands off to learn to swim, and remove stabilizers to ride a bike - trading is no different
You can read about this game all day, but there's no substitute for an education in the markets
Peter -
Not everyone wants the same out of the market. For some people, it's a hobby, for others a way of making money and for a few people maybe even a way of gaining self-mastery. But whatever you're in the market for, I can't see how it can harm for you to be given a primer when you start out.
Looking back, I'm sure you would have benefited from knowing certain things at the outset, or would at very least have found that knowledge interesting. All I'm suggesting is, in addition to the excellent videos and instruction manuals already aimed at beginners, a document or video that addresses some of the questions newbies frequently ask in the forum. I can't see why that could possibly be a bad thing.
Jeff
Not everyone wants the same out of the market. For some people, it's a hobby, for others a way of making money and for a few people maybe even a way of gaining self-mastery. But whatever you're in the market for, I can't see how it can harm for you to be given a primer when you start out.
Looking back, I'm sure you would have benefited from knowing certain things at the outset, or would at very least have found that knowledge interesting. All I'm suggesting is, in addition to the excellent videos and instruction manuals already aimed at beginners, a document or video that addresses some of the questions newbies frequently ask in the forum. I can't see why that could possibly be a bad thing.
Jeff
I realise there is a lot for me to learn and to understand. It's an ongoing process and something so different for me that I enjoy the newness of it all. Before discovering trading I wouldn't have known what lay bet was...that took ages to sink in. A bet on the national was my yearly wager! My own career is in art and design so the importance of study and comprehension is something I totally agree with.Ferru123 wrote:
It would also help to engage people who know nothing about betting and feel a bit alienated by terms they don't understand.
Jeff is spot on that a few pointers are helpful. Knowing what to look out for and what is important can be time saving and so very useful. But, the problem with anything new and worthwhile is that certain new concepts can be a bit difficult to grasp...as I well know. My task now is to carry on reading and learning and posting daft questions every now and again, after all this forum has some excellent teachers in it!
I'm glad that at least one person agrees with me!redtra wrote: Jeff is spot on that a few pointers are helpful.
Absolutely - that's why I think a simple guide explaining some of the key concepts and alerting you to some of the pitfalls out there would be helpful.redtra wrote: the problem with anything new and worthwhile is that certain new concepts can be a bit difficult to grasp.
It would only be a starting point, but with any new venture you need to walk before you can run, and get a firm grasp of the basics before you even think about being creative and experimental.
I would also agree with the guys who say that the market is an excellent teacher, however.
Jeff
I agree - Mugs's blog is very helpful.
Jeff
Jeff
LinusP wrote:Mugs does a good job of explaining it..
http://www.quiteamug.co.uk/education ... -a-market/
Thanks LinusP...i will have a good look at it this evening.LinusP wrote:Mugs does a good job of explaining it..
http://www.quiteamug.co.uk/education ... -a-market/
great idea Jeff...even just a list of subjects for further study would suffice. Next to each subject could be a number indicating its importance.Ferru123 wrote: that's why I think a simple guide explaining some of the key concepts and alerting you to some of the pitfalls out there would be helpful.
I would also agree with the guys who say that the market is an excellent teacher, however.
Jeff
-
steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
Its not easy to put a guide of do and donts for many reasons. Someone who plays with 5 pound stakes, won't see the same as someone who plays with 200 up (maybe less). Some people know horses so draw a long term opinion they are happy something will happen in the longer picture. Some are good with maths.
My advice to newbies would be get to understand why money is matching. Don't get tied up in looking at the perfect trade where it has hit a certain price point and WOM is saying something or something along them lines. Just get stuck in! I'd advise doing it in weak markets initially say ausy, 20+ mins from start uk races and see how markets react to the money you enter. Enter lots of small trades around the money. You will lose a lot of times I imagine but it the losing may help understand why the money is matching.
Speaking from a scalping point of view maybe already have your next order in the market so if it goes against you, then you can either scratch or be out and back in already in a next good position. Never sit there with a 50 quid back bet at 10.5 being taken and expect "the market" to come and help you out just because its traded at 10s all day.
Horse racing is probably the hardest to master so don't be to tough on yourself thinking you have to crack it. I have friends who earn big money else where and lose on horses all the time.
My advice to newbies would be get to understand why money is matching. Don't get tied up in looking at the perfect trade where it has hit a certain price point and WOM is saying something or something along them lines. Just get stuck in! I'd advise doing it in weak markets initially say ausy, 20+ mins from start uk races and see how markets react to the money you enter. Enter lots of small trades around the money. You will lose a lot of times I imagine but it the losing may help understand why the money is matching.
Speaking from a scalping point of view maybe already have your next order in the market so if it goes against you, then you can either scratch or be out and back in already in a next good position. Never sit there with a 50 quid back bet at 10.5 being taken and expect "the market" to come and help you out just because its traded at 10s all day.
Horse racing is probably the hardest to master so don't be to tough on yourself thinking you have to crack it. I have friends who earn big money else where and lose on horses all the time.
Hi Steven
I agree that everyone approaches the market differently.
What I'm proposing is guidelines and information that are applicable to a very wide range of newcomers and which just about everyone will agree on, such as:
- Don't over-stake (it might be obvious to us, but I bet it's not something that most newbies consider).
- Cut your losses quickly.
- What is the over-round?
- What is a meant by an edge in trading and betting?
- I've bought a system on Ebay that says I can't lose if I just keep increasing my stakes every time my bet loses. Is there a catch?
I think that showing what happens if you trade completely at random would be a good thing to include, as it might reassure people.
Jeff
I agree that everyone approaches the market differently.
What I'm proposing is guidelines and information that are applicable to a very wide range of newcomers and which just about everyone will agree on, such as:
- Don't over-stake (it might be obvious to us, but I bet it's not something that most newbies consider).
- Cut your losses quickly.
- What is the over-round?
- What is a meant by an edge in trading and betting?
- I've bought a system on Ebay that says I can't lose if I just keep increasing my stakes every time my bet loses. Is there a catch?
I think that showing what happens if you trade completely at random would be a good thing to include, as it might reassure people.
Jeff
steven1976 wrote:Someone who plays with 5 pound stakes, won't see the same as someone who plays with 200 up (maybe less). Some people know horses so draw a long term opinion they are happy something will happen in the longer picture. Some are good with maths.