If I would have appended today's P&L, which dwarfs software sales for today, and only seven losses on 40 races and said, you to can do this with these simply instructions! Then I'd understand the point, but I didn't. I deliberately avoid doing that.
They are aimed to be educational, giving people some ideas to play with and showing some techniques for profitable trades that people may want to try. You can see up and downside and clear instructions on how to replicate the trades. There is logic in them that you can follow. Curiously, these were requested in this format and carefully put together. I also choose tiny returns, despite knowing how to show much better ones.
I have a follow up video on the racing one, that I didn't get time to render. So you will get to see that next week. Maybe that will help, but it sort of begs the question of what could I put that that would be deemed 'acceptable'?
I'VE SEEN SOMETHING THAT SHOULDN'T EXIST...
90% of ideas that I try fail, but the 1 in 10 that work pay off the others easily. It took me 18 months of trial and error and data collection to final figure out what were the key factors in play and when I discovered them I wondered why I hadn't spotted it before as it was so obvious. I just seemed to take a very roundabout way of finding it. But I think that's an important part of the journey TBH?marko236 wrote:Also been trying to do inplay in the last month, tryed over 30 ideas so far none of them work minus £300+ for trying but i won't stop because if i keep trying different ideas i will find a least one that will work.
I watched your France vs Germany 2.5 Goals trade, PeterEuler wrote:I'm actually interested to hear what people are interested in. When I post something I never really can tell if it hits the mark or not.
It made me laugh!
Here is a guy who has made a staggering sum of money trading the exchanges, yet still sounded genuinely content that there hadn't been a goal after 8 mins, allowing him to green up for 94p profit!
I suppose it's that enthusiasm that keep the fire burning inside
I'll start by saying that I appreciate that Peter puts a lot of time into providing a genuine trading resource for the betting community, and he doesn't do it for the money.
My feelings about the videos are as follows. On the one hand:
- The videos are a free learning resource for people interested in finding out about what they can do with Bet Angel (and from the viewing figures, a popular resource).
- Some people may be inspired by Peter's results to put in the hours and hard work needed to make trading pay.
On the other hand:
- For every person like the grafter described above, there will be 99 people who drool at the sight of Peter making £100 in a race and think 'I want some of that', without being willing to do the requisite work.
Therefore, IMHO far more people attracted to trading by the videos will end up poorer and frustrated sooner or later than will end up wealthier and happier.
- The videos pose more questions than they answer. It's good that they stimulate thought, but it would be nice to have answers to questions such as:
a. What is an edge and how do I go about finding one?
b. What is the best way to approach staking?
c. How do I test the effectiveness of my techniques?
d. What are the main mistakes I should avoid?
e. Who are what are the key movers of prices?
f. What are the principles of good trading?
g. What psychological challenges will I face and how do I overcome them?
h. Where are support and resistance levels located and how do I exploit them?
i. What do changes in volume tell me about what's happening in the market?
j. What are the best sources of information when researching fundamentals?
Also, when demonstrating a trade, it would be good if Peter provided detailed analysis of why he did what he did at each juncture, rather than leaving viewers to try to psychoanalyze his decisions.
Jeff
My feelings about the videos are as follows. On the one hand:
- The videos are a free learning resource for people interested in finding out about what they can do with Bet Angel (and from the viewing figures, a popular resource).
- Some people may be inspired by Peter's results to put in the hours and hard work needed to make trading pay.
On the other hand:
- For every person like the grafter described above, there will be 99 people who drool at the sight of Peter making £100 in a race and think 'I want some of that', without being willing to do the requisite work.
Therefore, IMHO far more people attracted to trading by the videos will end up poorer and frustrated sooner or later than will end up wealthier and happier.
- The videos pose more questions than they answer. It's good that they stimulate thought, but it would be nice to have answers to questions such as:
a. What is an edge and how do I go about finding one?
b. What is the best way to approach staking?
c. How do I test the effectiveness of my techniques?
d. What are the main mistakes I should avoid?
e. Who are what are the key movers of prices?
f. What are the principles of good trading?
g. What psychological challenges will I face and how do I overcome them?
h. Where are support and resistance levels located and how do I exploit them?
i. What do changes in volume tell me about what's happening in the market?
j. What are the best sources of information when researching fundamentals?
Also, when demonstrating a trade, it would be good if Peter provided detailed analysis of why he did what he did at each juncture, rather than leaving viewers to try to psychoanalyze his decisions.
Jeff
98lewisj wrote: I understand why you post youtube videos etc but I feel that the message is all wrong in these latest two. It seems like the message you are putting out is "buy my software and you can't lose". No disrespect to you Peter, we all know you are a great trader with immense knowledge of the markets. I just feel these latest videos will do a lot more harm than good to aspiring traders.
Anyone else agree or Is it just me?
Jeff, 100% agree with every point you have made here. I have been trading for a few years but in the last 4 -5 months full time. I would like to thank you for your great posts on Psychology in trading. Has benefited me greatly on my quest. RegardsFerru123 wrote:I'll start by saying that I appreciate that Peter puts a lot of time into providing a genuine trading resource for the betting community, and he doesn't do it for the money.
My feelings about the videos are as follows. On the one hand:
- The videos are a free learning resource for people interested in finding out about what they can do with Bet Angel (and from the viewing figures, a popular resource).
- Some people may be inspired by Peter's results to put in the hours and hard work needed to make trading pay.
On the other hand:
- For every person like the grafter described above, there will be 99 people who drool at the sight of Peter making £100 in a race and think 'I want some of that', without being willing to do the requisite work.
Therefore, IMHO far more people attracted to trading by the videos will end up poorer and frustrated sooner or later than will end up wealthier and happier.
- The videos pose more questions than they answer. It's good that they stimulate thought, but it would be nice to have answers to questions such as:
a. What is an edge and how do I go about finding one?
b. What is the best way to approach staking?
c. How do I test the effectiveness of my techniques?
d. What are the main mistakes I should avoid?
e. Who are what are the key movers of prices?
f. What are the principles of good trading?
g. What psychological challenges will I face and how do I overcome them?
h. Where are support and resistance levels located and how do I exploit them?
i. What do changes in volume tell me about what's happening in the market?
j. What are the best sources of information when researching fundamentals?
Also, when demonstrating a trade, it would be good if Peter provided detailed analysis of why he did what he did at each juncture, rather than leaving viewers to try to psychoanalyze his decisions.
Jeff
98lewisj wrote: I understand why you post youtube videos etc but I feel that the message is all wrong in these latest two. It seems like the message you are putting out is "buy my software and you can't lose". No disrespect to you Peter, we all know you are a great trader with immense knowledge of the markets. I just feel these latest videos will do a lot more harm than good to aspiring traders.
Anyone else agree or Is it just me?
Those 2 videos in particular are interesting but I can see Le Tiss's point and what motivated Ferru to comment.
If Peter is presenting a VT in his blog or on the TV Channel, then I have always assumed that he is demonstrating the capabilities of Bet Angel as a product, not suggesting a methodology that has an edge and always has a positive outcome.
The difference between demonstrating a product and suggesting a trading method is that in the first he is presenting only the positive side of trading, an entry and a winning exit, made possible with the software. If he were seriously suggesting either of those VT's as a methodology then the 3rd element viz the negative trade where things have gone tits up; is notably missing.
I, for one, don't expect anyone, including Peter, posting to give away their edge or demonstrate both the winning and losing sides of their strategy.
It might be better if Peter's VT's highlighted the fact that he is merely showing whats possible with the software.
If Peter is presenting a VT in his blog or on the TV Channel, then I have always assumed that he is demonstrating the capabilities of Bet Angel as a product, not suggesting a methodology that has an edge and always has a positive outcome.
The difference between demonstrating a product and suggesting a trading method is that in the first he is presenting only the positive side of trading, an entry and a winning exit, made possible with the software. If he were seriously suggesting either of those VT's as a methodology then the 3rd element viz the negative trade where things have gone tits up; is notably missing.
I, for one, don't expect anyone, including Peter, posting to give away their edge or demonstrate both the winning and losing sides of their strategy.
It might be better if Peter's VT's highlighted the fact that he is merely showing whats possible with the software.
Which is what I clearly did in those videos?Ferru123 wrote:Also, when demonstrating a trade, it would be good if Peter provided detailed analysis of why he did what he did at each juncture, rather than leaving viewers to try to psychoanalyze his decisions.
If I would have used large stakes people complain so I used small stakes so people couldn't lose much if the trade went wrong.
On a dev checklist we have a button that we have yet to implement. It's the called the 'make a million' button. You don't need to think about anything or work to achieve an edge, you just press it and it prints money. We still haven't developed it just yet unfortunately. But I think perhaps that what you are looking for with those questions? A shortcut?a. What is an edge and how do I go about finding one?
b. What is the best way to approach staking?
c. How do I test the effectiveness of my techniques?
d. What are the main mistakes I should avoid?
e. Who are what are the key movers of prices?
f. What are the principles of good trading?
g. What psychological challenges will I face and how do I overcome them?
h. Where are support and resistance levels located and how do I exploit them?
i. What do changes in volume tell me about what's happening in the market?
j. What are the best sources of information when researching fundamentals?
I've seen a few things that purport to show the above, but as a long term trader I can smell BS a mile off. But it's interesting to see people heap praise on those that feed this need.
Ultimately copying something verbatim or not adding your own angle will never give you an edge and that is why I leave often leave stuff opened ended. I'm trying to give people a starting point.
I'll get my bum engaged on Monday and render the follow up to the racing video and you can see if that helps. I'll think about the other stuff, but I'm note sure I can add to the footy one, it's a simple explanation with quite a lot of detail in it and felt really clear to me.
That's a great point, and I've been seriously guilty of that myself! I've never really made Horses work for me, but one of the reasons for that is that I seem to get sucked into employing my Sport market strategiesEuler wrote:Personally I think one area where people get confused is market selection. Various strategies work, you just need to deploy them into the right market. People often lose money by deploying a net +ve strategy, but into the wrong market.
Respect to all the main contributers on this forum(you know who you are)that have helped me on the path.No one is going to take you by the hand, but there has been and are so many pointers made by individuals that do all make perfect sense .........if you then put the hard work in.
Some people will never get it ,and will never be traders. I made an offer to help somebody ,made it sound like we should get our heads together ,not help..........and got shot down in flames.
Classic!!!they didnt want to meet in fear that they give away their strats/methods
Respect Guys !...have a good days trading.
Some people will never get it ,and will never be traders. I made an offer to help somebody ,made it sound like we should get our heads together ,not help..........and got shot down in flames.
Classic!!!they didnt want to meet in fear that they give away their strats/methods
Respect Guys !...have a good days trading.
When I first saw those questions, I honestly sighed (no disrespect Jeff), to answer each of those questions in depth would literally fill a large book.Ferru123 wrote: a. What is an edge and how do I go about finding one?
b. What is the best way to approach staking?
c. How do I test the effectiveness of my techniques?
d. What are the main mistakes I should avoid?
e. Who are what are the key movers of prices?
f. What are the principles of good trading?
g. What psychological challenges will I face and how do I overcome them?
h. Where are support and resistance levels located and how do I exploit them?
i. What do changes in volume tell me about what's happening in the market?
j. What are the best sources of information when researching fundamentals?
The best of it is; EVERY one of those questions has been answered over time in the forum.
If Peter was to sit down and write a book to answer each question, it would result in another thousand questions, he'd never get time to trade!
If you look at the video he is merely showing a very simple technique, not as a method to employ ad infinitum, but to SIMULATE and provoke thought in the reader.
Ive seen Peter's football results and know what is possible. If he really wanted to use this as a tool to aid sales of betangel he would be showing 5 fig results, not £1.61.
There is more information now available to traders than ever before. I only have a handful of techniques I use over and over again and some of those techniques stemmed from reading various blogs..the information is there for all to find, you just have to uncover it and test it for yourself.
Regards
Peter
PS It may just be me, but over this last couple of months, Ive noticed a lot less posts by the full timers (some even appear to have left). It takes energy to post informative posts and sometimes it makes you think "I'm going to stop doing this and focus more on my trading". I would imagine that is exactly what Peter is thinking right now
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