Peter has removed Adam's link from his site
light bulb moment in betfair trading career
That's true - he doesn't. Not quite sure what your point is though... 
I don't blame Peter for removing the link to Adam's blog. He doesn't post much these days...
Jeff
I don't blame Peter for removing the link to Adam's blog. He doesn't post much these days...
Jeff
bilko wrote:Adam has said he does not trade day in day out.
Peter has removed Adam's link from his site
Last edited by Iron on Fri Apr 16, 2010 6:38 pm, edited 1 time in total.
I did no such thing!
Show me where I gave Adam's figures as a guide to what other people can earn, and I will happily apologise and promise not to do it again.
And whether I've seen Adam trade is irrelevant. But I wish I had, as I'm sure I could a tip or twenty from him!
Jeff
Show me where I gave Adam's figures as a guide to what other people can earn, and I will happily apologise and promise not to do it again.
And whether I've seen Adam trade is irrelevant. But I wish I had, as I'm sure I could a tip or twenty from him!
Jeff
bilko wrote:Please do not use Adam as a guide to how much money you can make then.
You have not seen him trade
Do you pay £55 a month to his site
This very misleading for people that are new too trading.
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mikesalter
- Posts: 40
- Joined: Sun Mar 07, 2010 1:30 pm
First post on this and I have learned a lot from reading peoples comments. I am new to trading and have been 'playing' with £2 stakes. I generally make a profit but occasionally have allowed to go inplay when Ive had a big shift against me and yesterday i managed to recover by luck rather than judgement. I can see that it is possible to loose and recognise that my inability to accept a small loss is hampering progression. To read the posts about accepting loss and apply some discipline is a big help.
I note the comments where people say trading is going to have winners and losers. I have realised that we as newbies are cannon fodder and we will supply the earners with their income whilst we are learning. I dont have any set amounts I want to earn, the Ferrari isnt on order or anything, and I have 18 months redundancy pay so can persevere. I am working on the philosophy of spending a long time at £2 until I am consistently making a profit. I will then raise the stakes steadily because its obvious that bigger orders will be harder to fill than £2 ones.
I note the comments where people say trading is going to have winners and losers. I have realised that we as newbies are cannon fodder and we will supply the earners with their income whilst we are learning. I dont have any set amounts I want to earn, the Ferrari isnt on order or anything, and I have 18 months redundancy pay so can persevere. I am working on the philosophy of spending a long time at £2 until I am consistently making a profit. I will then raise the stakes steadily because its obvious that bigger orders will be harder to fill than £2 ones.
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enzabella2009
- Posts: 747
- Joined: Tue Nov 03, 2009 3:58 pm
Eccepting losses It`s one of the hardest thing to lern, a wall that once you have found the way to break, can lead you to success.
http://www.elliottwave.com/freeupdates/ ... ccess.aspx
http://www.elliottwave.com/freeupdates/ ... ccess.aspx
Hi mikesalter,
Good luck with the adventure, and it will be one. As someone in the same boat as you albeit a year down the line can I just say that you are doing exactly the right thing in my opinion, dont even consider raising the stakes until you are consistantly profitable at £2. And I'm sure you've read it a thousand times elsewhere on this forum but do not ever go in-play. Learn to accept redding up for a loss as soon as you can its an important part of the process....Good luck with it all
Good luck with the adventure, and it will be one. As someone in the same boat as you albeit a year down the line can I just say that you are doing exactly the right thing in my opinion, dont even consider raising the stakes until you are consistantly profitable at £2. And I'm sure you've read it a thousand times elsewhere on this forum but do not ever go in-play. Learn to accept redding up for a loss as soon as you can its an important part of the process....Good luck with it all
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mikesalter
- Posts: 40
- Joined: Sun Mar 07, 2010 1:30 pm
Thanks for the encouragement, if the fact is that 80% of trades are traders we are all competing and I am impressed how helpfull and encouraging this forum is. Honest people just trying to help others.
Excellent posts. I feel its all out off my league - I have just read the Market Manipulation thread - for anybody who hasn't its a must.
Its interesting to note that some people on that thread have talked about removing auto Stop Losses as these get filled easily - this is where I'm having difficulty. If you use them (to help you enforce discipline) you get filled and loose. If you reply on your judgement the market can quickly go against you.
For me the most important quality you need is excellent decision making and timing.
Its interesting to note that some people on that thread have talked about removing auto Stop Losses as these get filled easily - this is where I'm having difficulty. If you use them (to help you enforce discipline) you get filled and loose. If you reply on your judgement the market can quickly go against you.
For me the most important quality you need is excellent decision making and timing.
And finally from me - the purpose of the 400/DAY question was to help any of you novice traders (I include myself as one of these - so actually I am really talking to myself in this thread) who have not yet realised that just like any other business you need to do a business plan.
It seems like it is possible to achieve the 400/DAY from the responses - however this would be one of your longer term goals. You should be able to work backwards from the figures I set out in that post and start to outline your short, medium term goals and profit targets which you would like to achieve.
remember starting to trade at £2 is not the same as £10 which is not the same as £100 which is definitely not the same as £1000 stakes. Each have their own challenges to overcome.
Your business plan will be flexible and you will be constantly reevaluating it and updating it as necessary. You will have daily, weekly and longer term goals.
And just like any business you will have expenses - one of which will be loses and an other will be training which brings us back to the main purpose of this thread - how much should you invest in attempting to set up your business?
I can not answer that for each individual however getting access to a successful professional trading mentor would be money well spent (I am not affiliated in any way to Bet Angel and I have not tried their mentoring program - others on the forum should be able to answer that - but this seems the obvious choice). However getting a trading job where you could learn the ropes using other peoples money before going self employed may be any other route to explore. This is where I went wrong - by the time I realised that there were job opportunities out there I had run out of funds in attempting to learn the business by myself.
I have learnt a lot from this thread - many thanks.
(PS I now always, once I have greened up, take a screenshot of the BetAngel One Click screen - if I have any more problems at least I will have some evidence to show.)
It seems like it is possible to achieve the 400/DAY from the responses - however this would be one of your longer term goals. You should be able to work backwards from the figures I set out in that post and start to outline your short, medium term goals and profit targets which you would like to achieve.
remember starting to trade at £2 is not the same as £10 which is not the same as £100 which is definitely not the same as £1000 stakes. Each have their own challenges to overcome.
Your business plan will be flexible and you will be constantly reevaluating it and updating it as necessary. You will have daily, weekly and longer term goals.
And just like any business you will have expenses - one of which will be loses and an other will be training which brings us back to the main purpose of this thread - how much should you invest in attempting to set up your business?
I can not answer that for each individual however getting access to a successful professional trading mentor would be money well spent (I am not affiliated in any way to Bet Angel and I have not tried their mentoring program - others on the forum should be able to answer that - but this seems the obvious choice). However getting a trading job where you could learn the ropes using other peoples money before going self employed may be any other route to explore. This is where I went wrong - by the time I realised that there were job opportunities out there I had run out of funds in attempting to learn the business by myself.
I have learnt a lot from this thread - many thanks.
(PS I now always, once I have greened up, take a screenshot of the BetAngel One Click screen - if I have any more problems at least I will have some evidence to show.)