The biggest Edge??

[davangel]

Ignore the bottom one as that was me arbing a bookie lol

[SeaHorseRacing]

Firstly: You say you have been trading year? Well that is complete bullshit right? So be truthfull here. Dont take it the wrong way, but I am straight talking and only here to help you. No point in going round in circles.

If you are really new you dont need to say that to get advice. We will still help if we can. If you truly have been trading that long then I do appologize but it does sound like it to me that your very new.

Firstly- Scalping today has been dreadfull. I have hardly scaped any race infact lost a few today. BUT- doesnt mean you wasnt scalping wrongly or correctly. The questions your asking are hard to answer because there coulf be many reasons. I know you are cutting your losses. BUT- For example if you were scalping say 8/9 mins today before a race (not that I would) scratching your trading or taking a loss when it goes against you will take you straight to the poor house. If it was a solid market, I would wait, unless I saw something unfolding. Its about the bigger picture.

If your trading a market with really slow fill rate= Like Cheltenham then I would scratch everything. With today for example; The racing was fairly volatile today and I f i scratched every move id be broke right now.
You need to really look at your preparaton. Dallas gave some amazing free advice.

Seriously your missing some simple steps that I am certain you would have noticed if you have been trading a while. Get on Peters course!

If you have made a change to your trading style to improve it is likely your results could get worse, learning new habbits etc.

[davangel]

Dallas, Jimibt and seahorse.....i am reading your comments but im new to the forum so dont know if theres a like button or not

[davangel]

Seahorse.......no offence taken.....i actually first trialled Betangel and other trading software about 7 years ago 2009, i watched what videos that were about then, i tried scalping and swing trading then and tried umpteen different strategies like lay the field, lay favs under 1.8, you name it ive tried it lol but gave up because at that time i was letting races go inplay to try and recoup losses and basically every thing i tried wasnt profitable long term.....i decided to have a real shot at it around august last year so bought various books and a video pack from another well know betfair trader who uses other software.......these have all helped me but in all honesty i wont bullshit you i cant read the markets.......i know about WOM, liquidity, bookies dropping money into the markets, bots, and false money, resistance points i also know that if the fav and 3rd fav are coming in in price the 2nd is likely to drift to balance the overround..........................the main thing i struggle with is the technique and i still believe that there is an edge that tells people what way the price is going, if im wrong please tell me.............I fund my trading through matched betting and ew arbing as probably some other guys on here do as well................please believe me when i tell you im not a bullshitter but just a guy who is annoyed that with the knowledge ive learned in the last year and what i knew 7 years prior to that im still not any futher forward

[SeaHorseRacing]

It did come across as if you are very new to the scene. But its not a problem at all. I'd like to help if I can. At the end of the day it will take real graft to see green in this and adviceis a timy source of your sucess. I still struggle everyday I am profiting.

Ok. Record your trading tomorrow.
Ice cream recorder is free on the web. Download VLC player too play back the videos. Free too.

Record some and lets take a look, You may have to upload them on youtube an uplaod the link. Its good to help others and I want to help if I can.

[davangel]

Seahorse....Let me give you a scenario that i saw on a forum....imagine you and i and another 100 traders were trading.........now what we were trading was when my wife brings me a cup of tea in bed, now the odds for that were 5.0................now near enough every day she brings it up at 8am but before she brings it to me she puts the light on and opens the curtains................so evryone is sitting there waiting on the light going on to get into the market at 5.0, some guys cant see the light going on though and their edge is the curtains opening ............some days i dont get one so the price could easily drift.............i have a massive EDGE though....................................................... i can hear her footsteps coming up the stairs, which nobody else can hear so bang im in first at 5.0 for massive stakes!!...............I firmly believe that top traders have a massive edge like that i may be wrong though

[davangel]

Cheers Seahorse....i`ll do that but it wont be the main ch4 races, itll be after that because i do matched betting and ew arbing which i do quite well with....i`ll just record from 5 mins to post which is when i usually start trading anyway...cheers

[SeaHorseRacing]

I understand, kind of what your saying.

Again your fantasing about what other traders have which isnt going to help you.

I think you are way over complicating your trading. For me, I will "generally" only have an intuative trade "early no support" type of trade if the price has been abslutely smashed in or out. Think about it for one second. The price of a horse can not possible continue. So sometimes acting on intuiton does make these nice trades, or "expert edges" i think your refereing too.

Also. remember when your trading, are you trading a short term trade or a longer term trade? Think about it?
That analogy you gave me, Th
oose type of trades, they are few and far between in my opinion.

I think you should just worry about profiting and how your going to do it. What amazed me a while ago was, taking just small profits every race and allowing you to be able to take the big moves when they arrive really does add up. Look at my results yesterday. 20p here, 40p there. Yet. I made £18 profit. These profits are scalable x15/x20 times on almost everymarket. That would be nearly £4/500 on a fairly average days racing. I think your fantasing about making more money then that is pysically possible. Or trying to scapl 50 ticks a race maybe?

Its not the case.

[davangel]

i probably do look into it too deeply but thats what the videos mostly tell you to do....check the wom, liquidity, is there any false money, what are the other horses prices doing etc etc......its getting so bad that sometimes im even scared to enter the market!!.....anyway im off to download the products for recording thanks again

[SeaHorseRacing]

i probably do look into it too deeply but thats what the videos mostly tell you to do....check the wom, liquidity, is there any false money, what are the other horses prices doing etc etc......its getting so bad that sometimes im even scared to enter the market!!.....anyway im off to download the products for recording thanks again

Keep reading trading in the zone until your eyes fall out of your head!

Your are over complicating the market- this is preventing you from being in the zone and acting objectively and quickly.

Stop thinking about it and just do it. Stop questioning your edges. act on your edges as soon as you spot them.

[Dallas]

Have you considered semi automating your trading? there is a number of scalping bots in the pre-off section of the shared files library viewforum.php?f=43

Rather than have the bot do it all just set it up to start the scalp by adding a few of your own condtions you want in place before it triggers a bet like WOM over 70%, Book% near 100%, total volume matched greater than X amount etc etc.

Baiscally punch in a number of factors for it to look for which you feel would be a good entry point when they all align - far more than you could spot simultaneously yourself and only once all these are aligned will it then open a poisition, this just leaves you to concentrate on managing the closing of each scalp.

[SeaHorseRacing]

http://www.forexmentor.com/forex-tradin ... ently.html

I have this opened in my web browser everyday. I read it before I start a days trading and when I close it everyday.

[to75ne]

i probably do look into it too deeply but thats what the videos mostly tell you to do....check the wom, liquidity, is there any false money, what are the other horses prices doing etc etc......its getting so bad that sometimes im even scared to enter the market!!.....anyway im off to download the products for recording thanks again

dont look at any videos, just concentrate on not losing any money. small stakes only. it is first last and always a head game.

after a few hundred markets of not trying to lose, up your stakes a bit, not too much, and repeat.

hopefully you will start seeing how the markets move and why, then reassess what (if anything ) you have learned.

if you have then lost a significant amount (relatively speaking) knock it on the head, as the wiring in your brain is not wired for trading, and you will pobably be wasting your time and money.

[davangel]

i understand everything everybody says about it being a mind game and youve got to battle with your angel and devil but you could be right about me not having the abiliity.........i play a lot of golf and in golf its similar in thought process at times..............my ball could be in a bunker and if i manage to get it out and 2 putt i`ll win the competition, now if i have the technique to get out of the bunker i have a great chance of winning the comp but if i dont i`ll doubt myself and probably end up not getting it out and losing.............Maybe i dont have the technique and understanding of how to enter the market and i never will............i aint ready to give up yet though.....................................................if you dont mind me asking what does Peter Webb tell you on his courses thats different to the videos he and other master traders put on youtube

[to75ne]

i have no idea what mr webb says on his courses.

his videos to me appear to be demonstrations of what the software is capable of, and what can be achieved by using the software, not mini courses on how to trade.

i understand everything everybody says about it being a mind game and youve got to battle with your angel and devil

no you dont have a battle with your "angel and devil", if thats happening you stop, theres always another race. you dont battle with yourself.