Trading What I see !?

[alexmr2]

Was doing really well all week, was in good profit, then have an awful Saturday lost all the profit for the week and more...
I got loads wrong today, and some that lurched from 1 tick profit to 15 tick loss...these seem inevitable losses
Really making me think whether I can be bothered...!

I've been through this cycle many times too and unfortunately it can repeat for a long time. I'm sure everyone on here has experieced the every trade goes against you days

If you step back and take a look at this from a logical perspective it does make sense that after some progress we get overconfident and forget that we are still up against people that have been doing this for years longer than us. Logically there is no reason it should be harder to get further into the green than into the red, and the reason that we have those big drawdown days is purely psychological i.e.

First couple of trades are small wins confidence increases and next trade is a big loss because you hold on because of ego, then you feel like you need to make it back so what do we do? Instantly jump back into any old position sometimes with 2 or 3 stakes instead of 1 and then get thrown out again. The frustration of all this then throws logic out of the window and only digs us into a deeper hole. Profitable trading should not be like this but we have such a desire to always be right

[jamesg46]

Was doing really well all week, was in good profit, then have an awful Saturday lost all the profit for the week and more...
I got loads wrong today, and some that lurched from 1 tick profit to 15 tick loss...these seem inevitable losses
Really making me think whether I can be bothered...!

Thought you were spending some time to sit back and observe for a few weeks?

[alexmr2]

these seem inevitable losses
Really making me think whether I can be bothered...!

Losses are inevitable in trading and there are many good traders who lose half of their trades but win much more when they are right

Also there are some great psychology posts on this forum by JollyGreen and one of them is are you a victor or a victim? Do you blame the market or your trading teacher or look for something else to blame when one of your trades goes the wrong way? Do you think that profitable traders do this? What makes you think that you can be right most of the time after 6 months when even those that have bee doing this for 5-20 years can still be wrong up to half of the time?

I know that I have and probably thousands of others, the important thing is to recognise the issue and work on it. How many times have I held onto a full blown reversal to prove a point and say to my teacher "I done what you told me to do and look what happened, 50 tick loss". A profitable trader would not have done that they would either have accepted the loss when it was small or have been on the other side of those 50 ticks

[goat68]

these seem inevitable losses
Really making me think whether I can be bothered...!

Losses are inevitable in trading and there are many good traders who lose half of their trades but win much more when they are right

Also there are some great psychology posts on this forum by JollyGreen and one of them is are you a victor or a victim? Do you blame the market or your trading teacher or look for something else to blame when one of your trades goes the wrong way? Do you think that profitable traders do this? What makes you think that you can be right most of the time after 6 months when even those that have bee doing this for 5-20 years can still be wrong up to half of the time?

I know that I have and probably thousands of others, the important thing is to recognise the issue and work on it. How many times have I held onto a full blown reversal to prove a point and say to my teacher "I done what you told me to do and look what happened, 50 tick loss". A profitable trader would not have done that they would either have accepted the loss when it was small or have been on the other side of those 50 ticks

Thanks, I know what you're saying, I just don't think I want this enough. I also don't have enough time what with a real job and other things, to actually do what's needed....

[goat68]

Automation could be the way, but I'm not convinced I can be profitable at that, especially from reading some of the woes on the Automation threads that I have read....

[spreadbetting]

With automation you still need a good idea of how betfair markets operate and prices move. Only advantage with bots is they don't mind picking up pennies for a market and work 24/7. Plus bots don't always lend themselves to trading as they generally don't have all the info you'd have watching the market yourself so you'd probably be looking more at a value based bot than a trading one which takes a separate mindset to put up with the variance in results.

[speedyhamster]

Was doing really well all week, was in good profit, then have an awful Saturday lost all the profit for the week and more...
I got loads wrong today, and some that lurched from 1 tick profit to 15 tick loss...these seem inevitable losses
Really making me think whether I can be bothered...!

Are you trading every race?

Novice or races with not much form?

[alexmr2]

Thanks, I know what you're saying, I just don't think I want this enough. I also don't have enough time what with a real job and other things, to actually do what's needed....

Have you considered trying to get a free trial of some screen recording software so you can record a few of your races and post them on here for people to point you in the right direction?

You could always continue to work on it on your spare time if you enjoy it

The best advice I could give you which would also be the best advice I would give to myself if I could go back a year or 2 would be to use practice mode/smaller stakes for as long as you can whilst still taking everything seriously. Listening to that would have saved me a grand or 8

[Derek27]

Have you considered trying to get a free trial of some screen recording software so you can record a few of your races and post them on here for people to point you in the right direction?

There are some good free screen recording apps. OBS is one that I've used in the past.

[goat68]

Was doing really well all week, was in good profit, then have an awful Saturday lost all the profit for the week and more...
I got loads wrong today, and some that lurched from 1 tick profit to 15 tick loss...these seem inevitable losses
Really making me think whether I can be bothered...!

Are you trading every race?

Novice or races with not much form?

Not every, no. Just ones I feel comfortable with, typically 3 front runners one or two low odds.
Some Novice yes, I actually.quite like the volatility, as it gives better swings, but it obviously comes with volatility against you...
Not really sure I understand how form affects the market...? What do you mean by form? Quality of race? Eg.Grp, List against Nov, Mdn?

[speedyhamster]

Was doing really well all week, was in good profit, then have an awful Saturday lost all the profit for the week and more...
I got loads wrong today, and some that lurched from 1 tick profit to 15 tick loss...these seem inevitable losses
Really making me think whether I can be bothered...!

Are you trading every race?

Novice or races with not much form?

Not every, no. Just ones I feel comfortable with, typically 3 front runners one or two low odds.
Some Novice yes, I actually.quite like the volatility, as it gives better swings, but it obviously comes with volatility against you...
Not really sure I understand how form affects the market...? What do you mean by form? Quality of race? Eg.Grp, List against Nov, Mdn?

form as in 321-911 where finished previously, i have noticed where there is not much
form or no previous form the prices can move very quickly and large moves (as you have stated)
if 2 or 3 front runners which horse is the market going to favour? (similar odds), how much anticipation will that give you?

[goat68]

Are you trading every race?

Novice or races with not much form?

Not every, no. Just ones I feel comfortable with, typically 3 front runners one or two low odds.
Some Novice yes, I actually.quite like the volatility, as it gives better swings, but it obviously comes with volatility against you...
Not really sure I understand how form affects the market...? What do you mean by form? Quality of race? Eg.Grp, List against Nov, Mdn?

form as in 321-911 where finished previously, i have noticed where there is not much
form or no previous form the prices can move very quickly and large moves (as you have stated)
if 2 or 3 front runners which horse is the market going to favour? (similar odds), how much anticipation will that give you?

321-911, whose phone number is that?!
No idea what that means currently...

[Jukebox]

321-911, whose phone number is that?!

Emergency Services Seminole County, Florida

[goat68]

Think I might give up horses, is football easier?

[Jukebox]

Think I might give up horses, is football easier?

You'll just be at the very bottom of a new learning curve.