"It" just implies the 2min mark activity itself
How do you become a winning trader then
If I can't find a trade before the two minute market, I'll trade the two minute mark.
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Crazyskier
- Posts: 1282
- Joined: Sat Feb 06, 2016 6:36 pm
Keep meticulous notes and update them every day while refining and perfecting a strategy. The amount of times one strategy works for a given period only to then seemingly fail and start costing you, is very high, so concise and accurate data and analysis is essential to continue the refinement and tweaks as you go.
I'll give you one starter for ten: The greyhounds often have the fav and second at around 50% of the book, meaning that tracks where favourites often win can have long runs of LTP 1 and 2s; conversely, tracks where outsiders often win can have long runs of LTP 3-6 winning, such as the first 4 races at PELAW today, for example. This has been the focus of one of my strategies for a long time now and as long as you avoid loss recovery and simply back the trends, be they fav and 2nd fav (LTP 1-2) or the outsiders (LTP 3-6), then you will see patterns emerging.
WARNING: This takes months and even years of daily record keeping and tweaks / refinements and still has off days. But, it may be food for thought for you, and I, for one, enjoy the rewards which can be relatively consistent with correct application.
Finally, only increase stakes using funds you have WON, not your own original starting stakes. Good luck!
CS
I'll give you one starter for ten: The greyhounds often have the fav and second at around 50% of the book, meaning that tracks where favourites often win can have long runs of LTP 1 and 2s; conversely, tracks where outsiders often win can have long runs of LTP 3-6 winning, such as the first 4 races at PELAW today, for example. This has been the focus of one of my strategies for a long time now and as long as you avoid loss recovery and simply back the trends, be they fav and 2nd fav (LTP 1-2) or the outsiders (LTP 3-6), then you will see patterns emerging.
WARNING: This takes months and even years of daily record keeping and tweaks / refinements and still has off days. But, it may be food for thought for you, and I, for one, enjoy the rewards which can be relatively consistent with correct application.
Finally, only increase stakes using funds you have WON, not your own original starting stakes. Good luck!
CS
How to become a good trader.
By not doing what I did tonight. Decided to stay up, I am in Western Australia, to follow three race meetings in UK. I was up about 8% on my account after getting 12 from 12. Should have gone to bed with a smile on my face. I left it too late to get a back on to counter a lay and blew all my profits and more. Complete lack of discipline and by failing to take small loss early, I have ruined what should have been a successful session.
Really disappointed in myself so if you want to be good at this, you must be disciplined to prevent a brain freeze like I had tonight.
End of rant.
By not doing what I did tonight. Decided to stay up, I am in Western Australia, to follow three race meetings in UK. I was up about 8% on my account after getting 12 from 12. Should have gone to bed with a smile on my face. I left it too late to get a back on to counter a lay and blew all my profits and more. Complete lack of discipline and by failing to take small loss early, I have ruined what should have been a successful session.
Really disappointed in myself so if you want to be good at this, you must be disciplined to prevent a brain freeze like I had tonight.
End of rant.
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ShaunWhite
- Posts: 10417
- Joined: Sat Sep 03, 2016 3:42 am
Tough lesson aj. Brain surgeons' wages come at brain surgeons' levels of concentration. There's no such thing as leaving your patient paralysed because you're a bit tired. 
But you shouldn't beat yourself up about the loss. The 12 from 12 and one loss wiping those out might actually point to taking too many small profits, focusing on strike rate, and they aren't enough to cover the eventual inevitable bad one? I know your post wasn't about strike rate but it's one of the least useful numbers imo and causes all sorts of psychological issues, it might even have been the reason you hung on hoping to make 13 from 13? I got to 26 from 26 once and was almost praying for a loss to break the instinct to make pennies just to keep it going.
But you shouldn't beat yourself up about the loss. The 12 from 12 and one loss wiping those out might actually point to taking too many small profits, focusing on strike rate, and they aren't enough to cover the eventual inevitable bad one? I know your post wasn't about strike rate but it's one of the least useful numbers imo and causes all sorts of psychological issues, it might even have been the reason you hung on hoping to make 13 from 13? I got to 26 from 26 once and was almost praying for a loss to break the instinct to make pennies just to keep it going.
Here's some insuranceajanthony wrote: ↑Tue Oct 25, 2022 4:56 pmHow to become a good trader.
By not doing what I did tonight. Decided to stay up, I am in Western Australia, to follow three race meetings in UK. I was up about 8% on my account after getting 12 from 12. Should have gone to bed with a smile on my face. I left it too late to get a back on to counter a lay and blew all my profits and more. Complete lack of discipline and by failing to take small loss early, I have ruined what should have been a successful session.
Really disappointed in myself so if you want to be good at this, you must be disciplined to prevent a brain freeze like I had tonight.
End of rant.
viewtopic.php?t=15199
Thank you,ShaunWhite wrote: ↑Tue Oct 25, 2022 6:21 pmTough lesson aj. Brain surgeons' wages come at brain surgeons' levels of concentration. There's no such thing as leaving your patient paralysed because you're a bit tired.
But you shouldn't beat yourself up about the loss. The 12 from 12 and one loss wiping those out might actually point to taking too many small profits, focusing on strike rate, and they aren't enough to cover the eventual inevitable bad one? I know your post wasn't about strike rate but it's one of the least useful numbers imo and causes all sorts of psychological issues, it might even have been the reason you hung on hoping to make 13 from 13? I got to 26 from 26 once and was almost praying for a loss to break the instinct to make pennies just to keep it going.
I am scalping so the profits are sometimes small but with a high strike rate. I have been comfortable with this style of trading and in the last week the penny dropped and I started to see the market much clearer by watching WOM, trade range etc but this was purely a discipline issue I believe. Anyway, I will refocus, take all advice and move on.
Regards,
ajanthony
Thank you, have downloaded and will try out today on Australian capital city meetings.Anbell wrote: ↑Tue Oct 25, 2022 10:47 pmHere's some insuranceajanthony wrote: ↑Tue Oct 25, 2022 4:56 pmHow to become a good trader.
By not doing what I did tonight. Decided to stay up, I am in Western Australia, to follow three race meetings in UK. I was up about 8% on my account after getting 12 from 12. Should have gone to bed with a smile on my face. I left it too late to get a back on to counter a lay and blew all my profits and more. Complete lack of discipline and by failing to take small loss early, I have ruined what should have been a successful session.
Really disappointed in myself so if you want to be good at this, you must be disciplined to prevent a brain freeze like I had tonight.
End of rant.
viewtopic.php?t=15199
Regards,
ajanthony
Well, you need mistakes, to turn them into lessons. Long "unbeaten" streaks are irrelevant and scream inefficiency. Taking smaller profits just to keep the spree going does not necessarily mean you've beaten the market, if anything the market has "beaten" you by denying you bigger profits.
If the lesson was lost on you there : don't go foolishly chasing perfection. Because it does not exist in reality, it only lives in the realm of thought.
Can think of it as peeling the ego onion, one layer at a time, with each peel more painful than the last, until all are gone and only "truth" remains. Keep peeling away and you'll soon realize you can take just as much satisfaction from a well-managed loss when (not if) you get things completely wrong.
Don't forget it can work both ways...and when you gaze long enough into the market, the market will gaze back into you.
A fun familiar little line that someone like Shaun might appreciate