Peter Webb videos

[Online Trader]

I would agree, and the problems with trading are reflective of deeper 'inner chimp' issues that affect other areas of my life.

Here's a prediction. I hope in the next three months to lose a few stone, as well as to make a decent profit on Betfair. I will either achieve both of those aims or neither, as they both require discipline and consistency. I think I will achieve both. I'm already planning the blog post I will write if/when I do!

Jeff

To be honest to Jeff, it's not the knowledge acquisition he is struggling with.

I had the same toils back in the late 90's when I was trying to trade short term on the financial markets.

You have a Blog Jeff? link please (Blog addict here )

[Iron]

Thanks Steven - I'll bear it in mind.

Much obliged (both to you and to the others who have offered to contribute).

Jeff

[Iron]

Hi Online Trader

Yes, I created a blog a while back to showcase to prospective employers some articles aimed at small businesses that I had written for a previous employer:

http://reflectionsfromjeff.blogspot.co.uk/

Jeff

You have a Blog Jeff? link please (Blog addict here )

[LeTiss]

In all fairness to Steve, there's one video of his I particularly liked - he started off making a loss, but didn't panic and ended up with a cracking green

This sort of video is golden for inexperienced traders, because in my experience every trader (even bad ones) will have pleasing green screens on some markets.

The difference between successful traders and bankrupt ones, is what they do when they have red screens.

[Iron]

+1

As Mike Tyson said, everyone has a plan till they get punched in the face...

Jeff

The difference between successful traders and bankrupt ones, is what they do when they have red screens.

[Online Trader]

Hi Online Trader

Yes, I created a blog a while back to showcase to prospective employers some articles aimed at small businesses that I had written for a previous employer:

http://reflectionsfromjeff.blogspot.co.uk/

Jeff

You have a Blog Jeff? link please (Blog addict here )

Thanks Jeff you have been added to my Feedly

[Wildly]

Would it be the start or end of October. I will probably be out of the country towards the end.

Peter,
I don't suppose that "out of the country" involves a trip to Melbourne for our spring racing?
I'm sure there would be enough of us here keen for a course or even a casual holiday course excerpt / chat to other traders.

[Zenyatta]

I would agree, and the problems with trading are reflective of deeper 'inner chimp' issues that affect other areas of my life.

Here's a prediction. I hope in the next three months to lose a few stone, as well as to make a decent profit on Betfair. I will either achieve both of those aims or neither, as they both require discipline and consistency. I think I will achieve both. I'm already planning the blog post I will write if/when I do!

Jeff

This trading business is going to be the bloody death of us Jeff

I've already made my views clear that I think most horse racing is a very poor trading medium...yes, some very clever people like Peter seem to have no problem raking in the cash, but we're not him.

The only horse racing the average Joe should be trading on are feature races and top-quality meets IMHO. Most of the lower-grade stuff is just rubbish trading-wise, and I still say most people would be better off simply punting those.

[Naffman]

Most of the lower-grade stuff is just rubbish trading-wise, and I still say most people would be better off simply punting those.

Well I've found my best trading days of the week are Mondays and Tuesdays here in Aus, so I would have to disagree with your statement.

[hhh]

Mondays & Tuesdays Naffman?

So are you the bully with big stacks pushing the prices around?

I have been working on theories of it being sportsbet, tab, betfair and/or Zeljko Ranogajec who were making the markets and turning my money inside out, however going off the totals I saw you post on a different thread (eg. $500ish on a monday) I now have a new bully to watch out for.

Well done.

[Naffman]

Not at all hhh. I love the volatility, on a good race, I could make about 25% on my back or lay bet. I have attached a race showing this if you're interested (and to clear my name as one of the suspects )

So I'm afraid your quest to find the bully continues

[Zenyatta]

Most of the lower-grade stuff is just rubbish trading-wise, and I still say most people would be better off simply punting those.

Well I've found my best trading days of the week are Mondays and Tuesdays here in Aus, so I would have to disagree with your statement.

Well done if you can master the low-grade stuff, but after 4 years, I'm still at a total loss to understand how anyone does it.

What I found was that as soon I put any significant amount on a selection on a low-grade race, the price is repeatedly and systematically pushed against me by a huge number of ticks. After having prices pushed against me by 12, 18 even 24 ticks, if trading I really have no choice but to stop-out with huge reds, only for the price to totally retrace again.

If every time I put in a position the price is pushed against me by 24 ticks, then it is simply impossible to make any money by trading. Of course I can simply hold the position over the long-term and not stop-out, on the expectation the price will come back my way again, but this is straight gambling not trading.

[Iron]

Well done if you can master the low-grade stuff, but after 4 years, I'm still at a total loss to understand how anyone does it.

Maybe attending a course would open your eyes!

Of course I can simply hold the position over the long-term and not stop-out, on the expectation the price will come back my way again, but this is straight gambling not trading.

You're not wrong!

Jeff

[gazuty]

Most of the lower-grade stuff is just rubbish trading-wise, and I still say most people would be better off simply punting those.

Well I've found my best trading days of the week are Mondays and Tuesdays here in Aus, so I would have to disagree with your statement.

Like Naffers I'm there (well I'm not, I'm at work but my bots are there) all day, every day (excluding Good Friday, Christmas Day and Anzac Day). Thus far this year I've had three or four down days and obviously many more positive days.

Can money be made out of non-feature racing. Yes.

[mbailey1705]

One thing that may help a bit with lower quality racing is to make note of the race class. I check out all the races each day and will note which are class 6 and prepare myself for battle. It's logical that they very low grade stuff like class 6 is going to be full of very average horses and therefore punting or trading them is more of a lottery.

You can catch some whopping moves in them but for those struggling I would recommend approaching them with more caution. Class 5 is obviously better and 1-4 should be fairly consistent most days. Trouble is the week days are often loaded with tons of class 6. Also I've noticed certain courses have far more erratic trading movement than others.

Just a thought...
Cheers
Martin