Motivation from other Trader's blogs and P&Ls.

[PeterLe]

Credit where it's due; well done Peter!

[Euler]

Well done Peter, that's a seriously impressive result and shows it can be done. You must be taking a lot of risk to achieve those larger individual results, will you let on how much risk. I'd estimate you must be staking several thousand?

I tend to be at a stage where I have more money than I can use, so I push as much as possible through but that can be quite small at times. It all depends on the underlying liquidity in the market. The faster I can get orders filled the more money I can put through and the more risk I will take. Saturday lined up quite nicely from that perspective.

[jimibt]

I tend to be at a stage where I have more money than I can use....

an old xmas cracker ditty always springs to mind:

.. as far as money is concerned, most of us have got little to worry about

in your case perhaps not quite so relevant

[kodiac]

From a relatively new traders perspective, one that is only now after a few months and countless hours finally posting £10 per day pre race profits from £5 stakes, this thread is both motivational and daunting.

The learning curve is steep, and the market fierce. I feel light years behind - but this thread has helped close the gap a little in terms of mindset and aspiration. Tomorrow i work harder. Thank you all for your contributions. Automation is something ive never considered before - that has now changed.

[Kev123in]

I have been reading through plenty of posts on the forum and came across some of Jolly Greens posts, cannot wait to get in the markets and try some things out that he has spoken about from a mindset perspective. I don't know anything about him but he has written some really interesting stuff on here. Thanks for sharing your knowledge JG.

[Lutruwita]

I'm a pre-race trader in Australia. I started fiddling around last year and have had a good year. However, I had a very, very poor day today. I fell for the old 'in-play' trick. Very disappointed with myself, but alas, it shows it only takes a momentary lapse for things to go pear-shaped.

[gazuty]

I'm a pre-race trader in Australia. I started fiddling around last year and have had a good year. However, I had a very, very poor day today. I fell for the old 'in-play' trick. Very disappointed with myself, but alas, it shows it only takes a momentary lapse for things to go pear-shaped.

Magnificent results. Hail to the chief (I think it would be difficult to find someone going better in Aust).

[spreadbetting]

I bot the markets so am a big fan of the AUS racing mainly because they churn out so many markets, reasonable liquidity and run to time unlike US racing. The sheer volume of races means you don't need to be picking up big wins to return a reasonable amount overall.

Just wish I wasn't as lazy and got up to trade them once in a while as they seem to be very reminiscent of the early days of the exchange and free from the majority of manipulation that goes on in the UK/IRE racing.

[Crazyskier]

Hi gang!

Been away from this forum for a little while but those of you that read my penny-pinching' threads and about how I was trying to avoid loss may be interested to know that I had my most successful day yesterday. Still way off enough consistent gains to live on (sadly) but I have benefited immeasurably from the words and inspiration of many on here like Peter Webb and PeterLe and the big green man and Dallas and LeTiss and severalothers, and thought I'd share my modest successes too.

I've been following Peterle's advice and trying to use my small gains to make larger ones, then if at least they lose it's at no nett cost to me and I get good data. So a £50 win is 10 x £5 stakes, etc...

The below screenies are typical of my 'green at any cost' - even if literally pennies!! horse automation, so mostly pre-trading, though some laying IP; THIS PRODUCED 19 WINS FROM 20 RACES yesterday

The doggies is slightly riskier automation with the smaller losses going in play in the form of a lay on the dog with the largest red (normally the favourite or a dog that has shortened considerably). Of course, this can bite you if you get a run of losses that mount quickly, though it pays well when the layed dog fails to win - so treat with caution.

Anyways, I hope it shows that with no more than tens or low hundreds to invest / gamble, consistent modest gains are indeed possible and constantly evaluating and refining strategy is the ONLY way for consistent profits, at least in my opinion.

regards to all

Crazyskier

PS - the eagle-eyed will spot what I did with the doggie place market and got a little fortunate

[Dallas]

WD Crazyskier, really glad its coming together for you and thats a great example of what can be done with a small bank and disipline. Its surprising how fast a bank can grow with steady constant profits and limited losses.

Was all that fully automated or is there some manual trading?

[Crazyskier]

WD Crazyskier, really glad its coming together for you and thats a great example of what can be done with a small bank and disipline. Its surprising how fast a bank can grow with steady constant profits and limited losses.

Was all that fully automated or is there some manual trading?

Thanks Dallas. yes, my very undisciplined and cynical mindset makes me bank units of £50 and £100 as and when my BF balance has this in excess of my trading bank of just £200.

I know that higher stakes = more gain based on a consistent strategy, but the money means too much to me at this stage in my life to allow this. I'm also inhibited by the sometimes absurd lack of liquidity in the doggy markets which tend to be most profitable for me, though far less consistent that the horsies. I have increased incrementally over time, though losing more than a £5 is felt keenly and I have done too many decent banks chasing losses and going in play etc to allow much more than £5 - 10 stakes per event.

Both horses and dogs are automated mostly, with me manually getting involved if a red overall is looking likely before the off.

EDIT - I do now have a tried and tested horse strategy that trades if certain conditions are met right from 8 hours to 20 minutes before the off. It's a very stable, consistent but LOW yield (as a percentage) and fortunately goes nowhere near the 1000 requests per hour that cost me dearly early on - so I do leave this unattended when out at work in the week.

[PeterLe]

Nice Work CS
Dont worry about just making pennies. Forget about it as a money making thing at present. Its a profitable system you're looking for.
Any system that has a net positive result over time will start to grow exponentially if you reinvest (wisely)

Einstein Said:-
“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”

Regards
Peter
Nice work Aaron Dewit too, credit where it's due

[Crazyskier]

Nice Work CS
Dont worry about just making pennies. Forget about it as a money making thing at present. Its a profitable system you're looking for.
Any system that has a net positive result over time will start to grow exponentially if you reinvest (wisely)

Einstein Said:-
“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”

Regards
Peter
Nice work Aaron Dewit too, credit where it's due

Thanks PeterLe. That was indeed the pearl of wisdom that I took from YOU. Making the riskier / bigger bets from PROFIT was a real revelation to me, and though it seems obvious now, it sometimes just needs it spelled out to change one's attitude.

Pleased to say that as I write, I've just finished today's horsies at 19 greens from 22 races, and loss-free thus far on the doggies

[PeterLe]

CrazyC
Just a thought...
If you have a big enought sample set of data now, ie if you've been trading this for a week or so..It would be wothwhile extracting the bet history data from you account and analysing it.
Create a pivot table (easy to do, lots of examples on Youtube) and look at the profit you have made at each price point (you could then create a histogram chart)
Assuming you are scalping, you may find that had you only scalped on prices above 3 to 4, you would have made more money etc (ie below these prices, the volatility is greater and often not ideal for scalping)
Regards
Peter
PS: If you do create a pivot; when you extract the bet history, delete the second blank row down and also where you have the SP coloumn, you will see that there is "" (nothing) in the title area...you can either delete the coloumn or lable it as "SP". If you dont do the above, when you try and create the pivot, it will complain

[RentonT]

Had a great day today with a starting bank of £500.

I think the penny has finnaly dropped of late and it's all to do with my psychology. I just have to keep it up. Would be interesting to hear other people's thoughts on their own development - did you find a eureka moment where it all seemed to finally click. I went from being really successful with trading at the start to that familiar stage where you learn lots more but results get worse and bad habits rule over all the good work and you wonder if you'll actually be able to do it... but I was never going to give up and hopefully I'm on the right road now.

Although I stopped after a bad loss in my last trade today. I'm glad I took the loss and moved on (or in this case away) it wasn't horrendous trading just careless and then everything I tried made it worse so maybe a case of a long session taking it's toll.

Attached screenshots show my results for today which I'm pretty proud of. Only 2 losses out of 39 markets traded so that's a 95% strike rate.

And after doubling my bank that is obviously a great return on my initial investment HOWEVER I really would like to monitor a return based on turnover.

What is the easiest way to get my turnover figure?