Trading Diary

[spreadbetting]

Yes I agree, Ive always been suspicious of this 'we are all in this together', 'its all in the mind', 'trading has changed my life, you will get there too' and all the free advice. I have to ask myself why strangers want to help me? The answer is they don't, its to sell BA (which is fine) and to beat me in the markets, no other reason. Harsh but its reality.

Maybe a bit too cynical.

The simple fact is you'd have to be very lucky for anyone to give out their own particular 'tricks' of spotting why things move, but people will still give out useful advice for a variety of reasons. Sometimes you just have to read between the lines to glean out any useful snippets.

I've been doing this for 10 years now and there's so much downtime sitting at the PC you need to fill. Also there's no way I'd have lasted so long without the advice and help people have given me along the way so sometimes you feel obliged to pass it on too. In the past I've helped people directly with techniques but you rarely get so much as a thanks and the only time they came back was when some software I'd given them no longer worked But you live and learn.

So whilst no one's gonna let you have their holy grail techniques on a plate there's usually some good advice within the threads that could eventually get you closer to your own holy grail that'll last a lot longer. It's a fine line between being succesful at this and usually people have lightbub moments so don't dismiss all advice you may receive.

[chris2785]

Oh yes, I know what you mean, all the best stuff is 'between the lines'its great fun to work it all out! Another annoying trait of posters, (Whilst I'm on a rant) is why do people post their results? whenever there is a large green, people love to post it, or if they have finally cracked the 'going pro' they have to tell everyone and let everyone hear what a hard trip its been for them, but they got their in the end! - frankly I don't care, its a pointless post.

[Dublin_Flyer]

Oh yes, I know what you mean, all the best stuff is 'between the lines'its great fun to work it all out! Another annoying trait of posters, (Whilst I'm on a rant) is why do people post their results? whenever there is a large green, people love to post it, or if they have finally cracked the 'going pro' they have to tell everyone and let everyone hear what a hard trip its been for them, but they got their in the end! - frankly I don't care, its a pointless post.

It's just as well the automations I'm trialling in practice today aren't real cash. I'd post my P&L, walk to the nearest bridge, tie bricks to my ankles, and jump over the side!

[ruthlessimon]

Yes I agree, Ive always been suspicious of this 'we are all in this together', 'its all in the mind', 'trading has changed my life, you will get there too' and all the free advice. I have to ask myself why strangers want to help me? The answer is they don't, its to sell BA (which is fine) and to beat me in the markets, no other reason. Harsh but its reality.

aye chris, we are all survivors in one big zombie apocalypse. and trust me the fat lazy ones die first! my biggest tip, look after your ammo

[ShaunWhite]

Let's keep this on topic

[SeaHorseRacing]

Lets keep this on topic please...

[Dublin_Flyer]

Back on topic SHR,
In, say your last weeks trading, are you finding yourself keeping within your limits to cut out a bad trade early or see will it be matched with a spike around off time/post off-time, or getting close to letting it go in-play?

IMO your trading diary could be a good thing for your mindset as you trade. If you think of your brain analysing a trade you're in, on 2 paths;

Path 1 is your in the moment position, you'll know when your get-out point is, but the greedy gremlin inside your head will want the extra tick or 2, or let it go IP because it was trading in that direction and would have surely hit your exit point....aaaand now he fell at the first and you're fucked.

Path 2 is your forward looking mind. You know you should have gotten out when the going was good, a safe out is better than a higher risk for a maybe out. Plus now you have to update your trading diary and tell all the gang you fucked up if you let this position go any further! I'd better get out while the going is good.

This scene says it in another way

https://www.youtube.com/watch?v=zQ1_IbFFbzA

[SeaHorseRacing]

Back on topic SHR,
In, say your last weeks trading, are you finding yourself keeping within your limits to cut out a bad trade early or see will it be matched with a spike around off time/post off-time, or getting close to letting it go in-play?

IMO your trading diary could be a good thing for your mindset as you trade. If you think of your brain analysing a trade you're in, on 2 paths;

Path 1 is your in the moment position, you'll know when your get-out point is, but the greedy gremlin inside your head will want the extra tick or 2, or let it go IP because it was trading in that direction and would have surely hit your exit point....aaaand now he fell at the first and you're fucked.

Path 2 is your forward looking mind. You know you should have gotten out when the going was good, a safe out is better than a higher risk for a maybe out. Plus now you have to update your trading diary and tell all the gang you fucked up if you let this position go any further! I'd better get out while the going is good.

This scene says it in another way

https://www.youtube.com/watch?v=zQ1_IbFFbzA

Today was my first losing day in almost two weeks and it wasnt much. Again simple error.
My main objective is to cut out any bad trade.

Yes kind of the reason why I am doing it and I will give a brief explanantion of my day.

[jimibt]

Oh yes, I know what you mean, all the best stuff is 'between the lines'its great fun to work it all out! Another annoying trait of posters, (Whilst I'm on a rant) is why do people post their results? whenever there is a large green, people love to post it, or if they have finally cracked the 'going pro' they have to tell everyone and let everyone hear what a hard trip its been for them, but they got their in the end! - frankly I don't care, its a pointless post.

It's just as well the automations I'm trialling in practice today aren't real cash. I'd post my P&L, walk to the nearest bridge, tie bricks to my ankles, and jump over the side!

... and even then, prolly the string would snap and a big bouncy castle boat would be passing below - i know this kinda day too

[newaustralian]

Morning. I agree when I win somebody does not. I am willing to share what I think is important because it might make somebody become a better punter. if i have an edge over the next punter I am willing to share. Punting is enjoyable and exciting and can be an income maker. As I say continuously money management is the key to success. It works for me. I am really unable to explain my selections as they are not automatic rather I exclude some horses as they do not fit my requirements - ie NEVER lay a horse that is coming back from a spell. I never bet for a place as I have over a period been unsuccessful. I never bet on big races - ie Melbourne Cup. I never bet in small fields etc. I am unable to prove these NEVERS but I have found them to be correct for me. As I write this we have a race in Dundalk. The field is all over $6.00 - I would never bet this race as the market indicates many potential winners. Have a great weekend

[Dublin_Flyer]

Morning. I agree when I win somebody does not. I am willing to share what I think is important because it might make somebody become a better punter. if i have an edge over the next punter I am willing to share. Punting is enjoyable and exciting and can be an income maker. As I say continuously money management is the key to success. It works for me. I am really unable to explain my selections as they are not automatic rather I exclude some horses as they do not fit my requirements - ie NEVER lay a horse that is coming back from a spell. I never bet for a place as I have over a period been unsuccessful. I never bet on big races - ie Melbourne Cup. I never bet in small fields etc. I am unable to prove these NEVERS but I have found them to be correct for me. As I write this we have a race in Dundalk. The field is all over $6.00 - I would never bet this race as the market indicates many potential winners. Have a great weekend

Newaustralian you already have your own thread on your Aussie view. This is a thread about Seahorseracing's progress, frankly I couldn't give a fuxk about how your day or bets have gone. Good luck to you and keep that winning streak up.

SHR has contributed to this forum quite a while now via replies, requests, and his general opinion on things which is much appreciated in a friendly community like this forum.
I look forward to SHR's updates, not so much to others trying to hijack a thread

[LeTiss]

SeaHorse

What you never mentioned is whether you have a decent level of savings to tide you over whilst you progress - I had 6 months worth

One last thing I would mention to anybody trading, especially those who have been prone to gamble before, is NEVER trade/bet when you have alcohol in the blood, even just 1 pint. Alcohol relaxes the brain, dangerously so when trading. So if you do have a drink, close your laptop down, switch off your PC and shut your trading down for the day

[SeaHorseRacing]

Dublin Flyer. Thanks mate.

LeTiss- I am completely set until the end of April. No worries or struggles, not exactly flush but finiacialy safe been planning this for the last 4/5 months. Just ordered a new UPS and funded my betdaq account as back up.

I've already learned my lesson there just having 1 beer probably half's my focus. In the summer did it once or twice even though nothing bad happen but it is in my set of rules.
I have my rules in place.
Dinner away from desk, regular breaks.
If I endure a loss for whatever reason that is 25% or more of my bankroll... I hope it is very unlikely.. I will stop for the day. Hedge up and pull the plug.
Have sound alarms set to keep me focused and self aware.
I've got posters all over my house.
A routine planned in which if I do not follow I won't trade for the day.

If I do something unforgivable like sit and watch a loss grow and grow I have punishment in place like scrub the toilet.
I have literally gone to the extremes but this is just to re wire bad habits and to be honest It's getting better.

Thank you for the advice

[ShaunWhite]

That's all great shr and I can't argue with any of it. It sounds like your own brand of hardcore cbt should work pretty quickly if you're receptive to it.

But at the same time, don't over think it, leave a path clear from your inner brain. My best 'clicks' are always the ones my finger just seems to do of it's own free will. (Although i'm still half a million miles from being a zen master at this)

Leave room in your life for you to be you, not just a student. Take days off for your brain to absorb it all. You're clearly taking the correct approach and you obviously want this with a passion. That already singles you out from most who try, so there's no reason whatsoever why it isn't going to work for you. And I sincerely hope it does.

[ShaunWhite]

You're going to love your UPS, I was amazed how much electrical noise and low voltage (<190v) mine catches, especially when it's raining hard. The BT cabinet in the street 'should' be good for about 30-60mins in an outage. My 700va UPS only powers things (pc/screens/router/1 lamp) for about 2mins but it's plenty long enough.

Did you know you can turn your phone into a hotspot? I put a £9 wifi dongle in my normally wired pc and it switches to it seemlessly if BT goes down. Best £9 I've spent since that night out in Bangkok.