"Never risk more than 1% of your total equity in any one trade. By risking 1%, I am indifferent to any individual trade. Keeping your risk small and constant is absolutely critical." Larry Hite
Larry Hite is one of the original market wizards, btw.
Jeff
Some advice on staking size please
Yeah, my apologies mate, we have our wires slightly crossed thereFerru123 wrote:But is that stake or realistic risk?
For example, let's say your bank is £1,000. You might well place an opening bet of £100. However, would you ever let yourself get to £100 in the red on a single trade with that size of bank? I suspect you would close the trade long before it got that far.
Jeff
I would never leave anything more than 1% of my bank 'in play' etc
I was talking about sheer trading stakes
I trade anything from 7% - 10& of bank. I was taught this by pro trader who has now retired after his winnings. Selective trades using various strategies. I generally do football, particularly the price decay method with a 90% match rate of success.
Hi
Price decay is in play and I stake about 10% when i spot an opportunity. For other in play sport e.g. tennis or snooker, I am more cautious and stake about 2% - 5 up to 10% if there is an opportunity at low risk.
I agree with Jeff, take it steady and always ask "is there a reason in this situation not to trade?" If the risk is too great, let it pass. More opportunities will come along.
Price decay is in play and I stake about 10% when i spot an opportunity. For other in play sport e.g. tennis or snooker, I am more cautious and stake about 2% - 5 up to 10% if there is an opportunity at low risk.
I agree with Jeff, take it steady and always ask "is there a reason in this situation not to trade?" If the risk is too great, let it pass. More opportunities will come along.
In football the price of a market e.g. Match odds that backs the current position will slowly decay/decline to eventually 1.01. the most popular markets to scalp trade which I use are under 0.5,1.5.2.5 goals depending on score and correct score. From 70 mins to 90mins the price 'decays's drops away as time runs out. It's going down, the edge is to get in and out quick when play stops. It's not easy due to timing and competition to match but most games I can earn about 5% of stake.
Good luck.
Good luck.
Jeff,
Not disagreeing with you. Anyone who backs anything on Bet Angel is gambling. The difference is 'intelligent skilful gambling' compared to Joe Bloggs who bungs fifty quid on a horse and hopes for the best.
Anyway. Argument over from my end, better things to do.
Not disagreeing with you. Anyone who backs anything on Bet Angel is gambling. The difference is 'intelligent skilful gambling' compared to Joe Bloggs who bungs fifty quid on a horse and hopes for the best.
Anyway. Argument over from my end, better things to do.
Ray,
As long as you're confident that you're engaging in 'intelligent skillful gambling', although just as few people regard themselves as being a below average driver, few people would claim to be stupid gamblers who lack skill (yet the bookmakers' profits tell a different story).
Jeff
As long as you're confident that you're engaging in 'intelligent skillful gambling', although just as few people regard themselves as being a below average driver, few people would claim to be stupid gamblers who lack skill (yet the bookmakers' profits tell a different story).
Jeff
On another point have you ever attend any PWebb courses? View, recommended? I would like to move away from football to Horses.I have been taught a few trading methods (candles/WOM) with so/so results. It would be intersting to get any views on Peter's courses. Any feedback either direct or indirect?
Regards
Regards
I had an email saying my post was approved but it seems to have disappeared. Strange.
Reading your posts Ray I think I bought the same course as you that taught the price decay method.
It does seem to work but if you aren't extremely careful then you can get caught out by a goal and lose several days profit. You also need to be careful about 'live' your tv pictures are. For example the HD channels seem to be a couple of seconds behind standard channels and the Sky Sports iOS app is 30 seconds behind those!
Never tried the horse racing method aside from a few practice trades. Method 1 was reasonable but tied up your Betangel due to the requirement for the stop loss.
Tried the tennis method once or twice but never really took to it.
Reading your posts Ray I think I bought the same course as you that taught the price decay method.
It does seem to work but if you aren't extremely careful then you can get caught out by a goal and lose several days profit. You also need to be careful about 'live' your tv pictures are. For example the HD channels seem to be a couple of seconds behind standard channels and the Sky Sports iOS app is 30 seconds behind those!
Never tried the horse racing method aside from a few practice trades. Method 1 was reasonable but tied up your Betangel due to the requirement for the stop loss.
Tried the tennis method once or twice but never really took to it.
Yes, I did buy the same course and I have gone to learn and buy some other trading strategies too. Most work OK. Live in-play I rarely rely on Sky and TV feeds so I have an edge in getting orders in quicker and laying off a few ticks down.
I never risk a goal being scored so hold out if no trade opportunity exists. Protecting bank is the key.
I never risk a goal being scored so hold out if no trade opportunity exists. Protecting bank is the key.