Trading What I see !?

[goat68]

Random produces biggest win of the day £46

[goat68]

So I'm definitely consistently losing! Mainly due to large losers...
However with my poor entries that typically go against me to start with I'm fairly sure if I always cut small losses I will have a mass of small losers and a few average winners... Seems very difficult to let a winner run, as it typically swings right back.
However, I know not using a stop loss does not work for me, so this week I am going to try cutting losers for small losses, and see what result I get anyway...

[goat68]

I'm going to keep chipping away at this as it seems the people that become profitable just keep working in the market until something becomes more obvious about those random moves!!?

[to75ne]

why would you not want to cut out for small losses as oppossed to i assume large (or larger ) losses? sorry i have not read much of this thread its too long if the reason why you prefer large (or larger) losses as already been explained forgive me for by laziness.

[goat68]

why would you not want to cut out for small losses as oppossed to i assume large (or larger ) losses? sorry i have not read much of this thread its too long if the reason why you prefer large (or larger) losses as already been explained forgive me for by laziness.

Using £figures as an example, a trade would typically go to say -£7 slowly, and quite often turn around and head back to profit where I would get out for £10 profit. However, when it goes wrong it ticks to say -£11 I pause and look at it then it shoots out to -£22, -£31, I then trade out for -£31 loss.

[jamesg46]

why would you not want to cut out for small losses as oppossed to i assume large (or larger ) losses? sorry i have not read much of this thread its too long if the reason why you prefer large (or larger) losses as already been explained forgive me for by laziness.

Using £figures as an example, a trade would typically go to say -£7 slowly, and quite often turn around and head back to profit where I would get out for £10 profit. However, when it goes wrong it ticks to say -£11 I pause and look at it then it shoots out to -£22, -£31, I then trade out for -£31 loss.

Instead of trying to find yourself right, find where others have found themselves wrong, then its likely you'll be on the right side of that -£31

[goat68]

why would you not want to cut out for small losses as oppossed to i assume large (or larger ) losses? sorry i have not read much of this thread its too long if the reason why you prefer large (or larger) losses as already been explained forgive me for by laziness.

Using £figures as an example, a trade would typically go to say -£7 slowly, and quite often turn around and head back to profit where I would get out for £10 profit. However, when it goes wrong it ticks to say -£11 I pause and look at it then it shoots out to -£22, -£31, I then trade out for -£31 loss.

Instead of trying to find yourself right, find where others have found themselves wrong, then its likely you'll be on the right side of that -£31

Thanks James, that is actually my strategy! My method is to try and see where the other traders are in the market, then trade contra to that... However, I'm not very good at it!! I suspect I am thinking like 95% of the other traders, so what I think I'm looking at is not what I think......

[to75ne]

correct me if i am wrong but you do not seem to know/be able to judge (yet) reasonably accurately when the horse your trading the odds are about to/or are genuinely turning against your position and not just a temp pull back.

are you looking at what is happening to the prices on the the other runners? the price move on any horse is rarely independent of the price moves of the other runners. until you can "read" the move on your selection in relation to whole market (its a closed system) and reasonably predict its direction with some certainty, would you not be better quickly scratching those that are clearly going against you - taking loads of small losses, rather than letting the price go against you, risking a largish or large or a very large loss, hoping (which is pointless) it will turn around and make everything alright?

[goat68]

I must give huge credit to Peter W and all you lot who can see through all these random market charts to see how to profit.
Kudos!

[goat68]

correct me if i am wrong but you do not seem to know/be able to judge (yet) reasonably accurately when the horse your trading the odds are about to/or are genuinely turning against your position and not just a temp pull back.

are you looking at what is happening to the prices on the the other runners? the price move on any horse is rarely independent of the price moves of the other runners. until you can "read" the move on your selection in relation to whole market (its a closed system) and reasonably predict its direction with some certainty, would you not be better quickly scratching those that are clearly going against you - taking loads of small losses, rather than letting the price go against you, risking a largish or large or a very large loss, hoping (which is pointless) it will turn around and make everything alright?

I am looking at all the other runners yes, I just get it wrong half the time! And when I do it just seems to go against me so quick!

[goat68]

correct me if i am wrong but you do not seem to know/be able to judge (yet) reasonably accurately when the horse your trading the odds are about to/or are genuinely turning against your position and not just a temp pull back.

are you looking at what is happening to the prices on the the other runners? the price move on any horse is rarely independent of the price moves of the other runners. until you can "read" the move on your selection in relation to whole market (its a closed system) and reasonably predict its direction with some certainty, would you not be better quickly scratching those that are clearly going against you - taking loads of small losses, rather than letting the price go against you, risking a largish or large or a very large loss, hoping (which is pointless) it will turn around and make everything alright?

Please, please tell me how to tell the difference between a temp pullback and it genuinely turning against me...????

[ruthlessimon]

I am looking at all the other runners yes, I just get it wrong half the time! And when I do it just seems to go against me so quick!

On average, at what time do you normally get involved (i.e. your first entry)?

[goat68]

I am looking at all the other runners yes, I just get it wrong half the time! And when I do it just seems to go against me so quick!

On average, at what time do you normally get involved (i.e. your first entry)?

On average I'd say around 8mins to go, if that's what you mean?

[jamesg46]

Using £figures as an example, a trade would typically go to say -£7 slowly, and quite often turn around and head back to profit where I would get out for £10 profit. However, when it goes wrong it ticks to say -£11 I pause and look at it then it shoots out to -£22, -£31, I then trade out for -£31 loss.

Instead of trying to find yourself right, find where others have found themselves wrong, then its likely you'll be on the right side of that -£31

Thanks James, that is actually my strategy! My method is to try and see where the other traders are in the market, then trade contra to that... However, I'm not very good at it!! I suspect I am thinking like 95% of the other traders, so what I think I'm looking at is not what I think......

I'm sure time & re watching will make you better at it. Timing might be something you need to work on, Personally I think there is no better time than when the previous race ends, you get a new flurry of judgement from fresh traders placing their opinion and money into the markets, maybe thats a time where fresh opinion could well be wrong, the more wrong opinion the more severe the pullback maybe... just a thought.

[goat68]

Hey chaps, just think I'm keeping all you lot in profit