I need help and advice on trading please
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Trader Pat
- Posts: 4327
- Joined: Tue Oct 25, 2016 12:50 pm
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firlandsfarm
- Posts: 3367
- Joined: Sat May 03, 2014 8:20 am
Maybe the numbers were confused and the wrong way around!
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Trader Pat
- Posts: 4327
- Joined: Tue Oct 25, 2016 12:50 pm
i meant the opening poster, you must be increasing your stakes a lot when you are on a good run so your bound to lose your biggest stakes at some point, thats probably part the reason why you feel your always losing when staking big
if your staking recklessly willing to blow your bank regardless of its size its basically opposite to martingale staking where youd always win your biggest stake until your break your bank youd always lose your biggest stakes until your a millionaire
if your staking recklessly willing to blow your bank regardless of its size its basically opposite to martingale staking where youd always win your biggest stake until your break your bank youd always lose your biggest stakes until your a millionaire
It sounds as if you're not totally convinced by your methods. You say you've tried different approaches but still have difficulty being consistent. Is it possible that you haven't done enough testing and research into your strategies? If you asked yourself whether you did 1000 trades using one of your methods what kind of strike rate would you expect?alonzoharris wrote: ↑Mon Jun 01, 2020 10:05 pmHi I have been trading for 2 years now and not consistent with my p&l. I have tried different strategies and I still have problems trying to stay consistent. The problem I have is when I plan my trades, do the research and everything, I lose, especially when I start with a bank like 500-1000£. But when I start with a bank of 10£ mostly I can reach 1k+ in one day on football trading on Saturday. Then once I have a huge bank things take a turn. Any advice??
If you have that knowlege then you wouldn't be worried if you had losing runs as you would realistically expect things to turn around at some point. Also you would use consistent stakes using a small % of your bank, small enough that you can sleep at night. Also if you're turning £10 - £20 into 4 figure sums it seems likely you're increasing stakes rapidly and the markets may be reacting differently to the bigger stakes and you may not get it all matched therefore losing profits.
If the strategy is very risky but rewarding if it comes off, like backing big longshots, the sudden boost to your bank may make your wealth grow faster than your wisdom.
I recall a story from my punter days. A young guy would come into the bookies fairly regularly. He would often come in with say £50. He would do dog forcasts for a tenner. On occasions he would suddenly get one up that paid say £30, now he had £300. Then he'd back a horse for £50 at 10/1 and whoosh another £500. By the end of the day he would sometimes have about £4k. Unfortunately he would often lose it all in a couple of days due to his risky approach to betting.
Maybe test your methods more and see whether you truly have something and it's not fools gold. If you really find something effective and consistent why not see whether it can be automated? Then you can set it up and leave it to run so that you don't have to get emotionally involved.
Well, OP did ask for help and advice but at the same time provided zero context about his trading or gambling activities.
On top of that he answered his own question in the opening post because the solution was obvious enough.
The more detail you provide about your issue the better feedback you get, it's really that simple.
