In poker circles, we call this FULL TILT! And yes, I've been there - many times. Automation IS the only way I can manage my impulses buddy.SeaHorseRacing wrote:Naffman wrote: I'm just grateful I only had £400 in my account because I was behaving wildly and I wasn't stopping.
Trading Diary
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Crazyskier
- Posts: 1300
- Joined: Sat Feb 06, 2016 6:36 pm
Ive been designing a new bot which works out betting strategies for me. It cycles through 1 randomised strategy per second against 100 races then tells me which one worked best.
Almost finished it, could do with atleast 500 races though.
I recently flushed my database as i capture data in a more intelligent way.
My best strategy to date has a 63% strike rate on BACK which still puts me in profit, but i want 70%+
Almost finished it, could do with atleast 500 races though.
I recently flushed my database as i capture data in a more intelligent way.
My best strategy to date has a 63% strike rate on BACK which still puts me in profit, but i want 70%+
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dannycutts
- Posts: 71
- Joined: Sat Sep 17, 2016 9:10 pm
This has been a pretty good thread 
Good luck with it
Good luck with it
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ruthlessimon
- Posts: 2160
- Joined: Wed Mar 23, 2016 3:54 pm
i enjoy those losses, cause i know there was nothing i could have done about it. it's the ones that grind past your 'intended stop' that hurt me!SeaHorseRacing wrote:Naffman wrote:Sorry to hear SHR!
I was trading greyhounds. 7 winning trades on the bounce. Boom large order came in..
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SeaHorseRacing
- Posts: 2896
- Joined: Fri May 20, 2016 7:06 pm
I could have done someting about it though. There was money coming for the second favourite. Culd have scratched the trade, then could have taken small loss, then the large order come in so it was a combination of, frustrated because I lost my green, frustrated beause I never stuck to my stop loss and then someone took the price out.ruthlessimon wrote:i enjoy those losses, cause i know there was nothing i could have done about it. it's the ones that grind past your 'intended stop' that hurt me!SeaHorseRacing wrote:Naffman wrote:Sorry to hear SHR!
I was trading greyhounds. 7 winning trades on the bounce. Boom large order came in..
Combination of all three. I need to get a grip an look at something to work on this. My plan never worked in these situations and I never even thought about it when it happend. It just happened.
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dannycutts
- Posts: 71
- Joined: Sat Sep 17, 2016 9:10 pm
Its a case of getting it into your head that a small loss is ok but a big loss is not as ok... especially if you know that the chances for a big loss are possible...
I traded out early today of a trade because it was far too much of a gamble... made a little loss but but if I hadn't and the trade had lost i would have lost a tonne of money and felt terrible...
The trade would have ended up ok if I did leave it to run but still I know getting out was the right thing to do.
I traded out early today of a trade because it was far too much of a gamble... made a little loss but but if I hadn't and the trade had lost i would have lost a tonne of money and felt terrible...
The trade would have ended up ok if I did leave it to run but still I know getting out was the right thing to do.
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ruthlessimon
- Posts: 2160
- Joined: Wed Mar 23, 2016 3:54 pm
shr, if peter webb was standing behind you, reckon you'd have had those punts? if your missus was sitting with you would you have had that punt? that's what you have to always think. if im getting emotionally charged, i pull the cord on my PC, simple.
the no. 1 rule of trading - make sure you can come back to fight another day!!!
the no. 1 rule of trading - make sure you can come back to fight another day!!!
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SeaHorseRacing
- Posts: 2896
- Joined: Fri May 20, 2016 7:06 pm
Your so right. Thats whats crazy about it. If it wasnt my money would have I done that? No!ruthlessimon wrote:shr, if peter webb was standing behind you, reckon you'd have had those punts? if your missus was sitting with you would you have had that punt? that's what you have to always think. if im getting emotionally charged, i pull the cord on my PC, simple.
the no. 1 rule of trading - make sure you can come back to fight another day!!!
Great way to look at it, I had a plan all set out if it happens again, but I honestly didnt even take notice of my hidiuos behavur until I had a bout £2 left.
I think I need to have something in plan for my preparation for each trade. My problem was not stopping myself it was I never even thought about stopping or even though about my rules until it was too late. So i think the right step forward is to make awarness prior to each trade in order to be aware when it does happen...
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dannycutts
- Posts: 71
- Joined: Sat Sep 17, 2016 9:10 pm
nice that... good pointruthlessimon wrote:shr, if peter webb was standing behind you, reckon you'd have had those punts? if your missus was sitting with you would you have had that punt? that's what you have to always think. if im getting emotionally charged, i pull the cord on my PC, simple.
the no. 1 rule of trading - make sure you can come back to fight another day!!!
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SeaHorseRacing
- Posts: 2896
- Joined: Fri May 20, 2016 7:06 pm
Good points and It is what I try to emulate with everytrade. I dont reward myself for a lucky trade if I knew what I did was wrong.dannycutts wrote:Its a case of getting it into your head that a small loss is ok but a big loss is not as ok... especially if you know that the chances for a big loss are possible...
I traded out early today of a trade because it was far too much of a gamble... made a little loss but but if I hadn't and the trade had lost i would have lost a tonne of money and felt terrible...
The trade would have ended up ok if I did leave it to run but still I know getting out was the right thing to do.
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SeaHorseRacing
- Posts: 2896
- Joined: Fri May 20, 2016 7:06 pm
Thank you for the advice and from everyone who has written, quite touching. Thank you.marko236 wrote:The number 1 rule of trading is to control your losses each market so you remain within a chance of making a profit by the end of the day.
Sorry to hear about your losses Seahorse i'v been there along with many others.
Have to say Jimibt was right to mention automation, i'v not traded manual for over a year due to me not been able to handle a market going into the red, my plans would go out the window when it went badly wrong, i could probably go back to manual trading now but if i did i would have automation handling the market when it goes into a losing position and i'd control my trading when it's in the green.
Last edited by marko236 on Wed Nov 30, 2016 7:56 pm, edited 1 time in total.
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Crazyskier
- Posts: 1300
- Joined: Sat Feb 06, 2016 6:36 pm
I do around a ton a month on the doggies - 99% from automation, though not without oversight. Note the tiny pennies that add up if you have discipline and patience and don't go on tilt...SeaHorseRacing wrote:Increased stakes and just erratic behavour.Naffman wrote:How did you manage to lose all your bank? Did you go in-play?Automation wont stop me from placing a bet. I need to change my paradigm.jimibt wrote:it will and it does - read back and you'll see that you say it happens every 3-4 months. that's why you either need to get on top of it now, or get something in place that limits your ability to gambleSeaHorseRacing wrote: Automation is not going to stop the gambler in me or anyone else.
I understand what your saying but everyone has there own faults. If I just ignore my problems and use Automation it is not going to change me and if i get really hacked off I will likely just switch the Automation off. I dont want to try and avoid the innevtible I want t learn how to cope with invetable and keep moving forward.
I'm not meaning to rub it in SHR, but rather suggest that you consider automation again.
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