90 Days Trading Challenge

[Dallas]

Biggest issue, for me anyway, with targets is that you end up aiming for the target. So can end up trading markets you otherwise wouldn't touch or trade when tired and make poor decisions. Could be a good learning exercise for those participating though..

I did enjoy the betfair cheltenham (or was it aintree) challenge of a few yrs ago when you had to attempt to trade every race and make a profit - lesson learned was it not a good way to make a profit (unless of course you were one of the winners)... ==> points to some other forum members )

That's a prime example of aiming for targets and the effects it can have, I was one of the 4 winners of that challenge (3 of us were from here)
The first few races were normal for me but then once we seen the number of qualifying entrants dwindle and you could that all 21 races were doable (which wasn't difficult under there rules) but now the pay out was going to be half decent that changed my trading style and I ended up having to use a 2nd account to trade 'properly' the final day while completing the comp

[Dallas]

Biggest issue, for me anyway, with targets is that you end up aiming for the target. So can end up trading markets you otherwise wouldn't touch or trade when tired and make poor decisions. Could be a good learning exercise for those participating though..

I did enjoy the betfair cheltenham (or was it aintree) challenge of a few yrs ago when you had to attempt to trade every race and make a profit - lesson learned was it not a good way to make a profit (unless of course you were one of the winners)... ==> points to some other forum members )

I've also just noticed I still have the PM you sent me back in April 2018 with BF explanation as to why you weren't among the winners despite hitting the 21/21
Strange some of the stuff you forget about

[smarttraderr]

GOOD LUCK with todays endeavours Smart Trader, and followers. That's hope the step balance translates to P&L. May I ask, are you Trading, or Gambling.
Have a nice day
Minnie LAI

I am trading mostly but 10% of times I might end of with Bet then Trade because if horse has no chance then I don't green up.

Might be a silly question, but how do you know when a horse has no chance?

And you you leave a liability on the 'horse with no chance'?

Its very hard to say when you can be sure about that. You have to analyse lots of factors in mind to come to that point. but few indicators are like when horse lost balance and is continuously drifting or there are 4-5 other horses which are doing extremely well in closing stages and this one not showing any signs (doesnt mean can't win). Also if my risk amount is not greater than certain factor at that time. If my risk is more than X% then regardless of horse condition I green out. but risk is too little then I let it run.

Too hard to put in words. Sorry

[smarttraderr]

I tell you little story of this summer.

Cool story bro but if you feel the need to set these % based targets just to stay disciplined and consistent, then those same targets will probably influence your decision-making and thus leave a negative impact on your overall results.

If you think they won't, then surely there is no need to set seemingly easy targets and just trade to the best of your ability to see what you end up with?

Calling it a day soon as you reach your target goes against the very concept of chasing targets and improvement, it makes little sense to me.

Sorry for the long post

No worries, but try not to let it happen again

Yes first thing u have to do is stop thinking about the target.

Regarding calling a day, there are lots of way you can do improvements. I do not want to confuse everyone with everything upfront so I didn't mention about it. In early stages I think staying on course is more important then improvements

[Derek27]

I tell you little story of this summer.

Cool story bro but if you feel the need to set these % based targets just to stay disciplined and consistent, then those same targets will probably influence your decision-making and thus leave a negative impact on your overall results.

If you think they won't, then surely there is no need to set seemingly easy targets and just trade to the best of your ability to see what you end up with?

Calling it a day soon as you reach your target goes against the very concept of chasing targets and improvement, it makes little sense to me.

Sorry for the long post

No worries, but try not to let it happen again

Yes first thing u have to do is stop thinking about the target.

Regarding calling a day, there are lots of way you can do improvements. I do not want to confuse everyone with everything upfront so I didn't mention about it. In early stages I think staying on course is more important then improvements

Making 30% instead of 10% doesn't mean you'll succeed in your challenge, as it's too early to say. But if you didn't call it a day you might have made 60% hand had a slightly better chance.

[smarttraderr]

I hit my target today also, but not looking forward to trying to get £1.1k out of a Sunday racing card.

Sir I hope I will be able to achieve 1% of what you have achieved in my next Zillion year practice

You are greatest ever and its our pleasure that we can talk to you (here) . Please do help when possible in this challenge

[smarttraderr]

Cool story bro but if you feel the need to set these % based targets just to stay disciplined and consistent, then those same targets will probably influence your decision-making and thus leave a negative impact on your overall results.

If you think they won't, then surely there is no need to set seemingly easy targets and just trade to the best of your ability to see what you end up with?

Calling it a day soon as you reach your target goes against the very concept of chasing targets and improvement, it makes little sense to me.



No worries, but try not to let it happen again

Yes first thing u have to do is stop thinking about the target.

Regarding calling a day, there are lots of way you can do improvements. I do not want to confuse everyone with everything upfront so I didn't mention about it. In early stages I think staying on course is more important then improvements

Making 30% instead of 10% doesn't mean you'll succeed in your challenge, as it's too early to say. But if you didn't call it a day you might have made 60% hand had a slightly better chance.

ha ha why everyone is waiting for me to fail. I already said that failure is imminent and no one is immune from it. its part of the process. no one here can claim that they wont fail.

[Derek27]

ha ha why everyone is waiting for me to fail. I already said that failure is imminent and no one is immune from it. its part of the process. no one here can claim that they wont fail.

In fairness, your comment about learning together and failing together was inviting a negative response. You should have said succeed together.

[Trader Pat]

ha ha why everyone is waiting for me to fail. I already said that failure is imminent and no one is immune from it. its part of the process. no one here can claim that they wont fail.

I don't thinking everyone is waiting for you to fail but for me I don't understand why if you have an edge you'd place a limit on it.

If you don't have an edge and you reach your target then you're just hoping you get there and you're essentially gambling and the wheels will come of at some point.

If you do have an edge then why limit yourself by setting a target? You should milk the edge for all its worth.

Either way personally I don't see the point in setting targets, I'd rather work on my understanding of the market as that's where long term profitability comes from.

Good luck anyway

[Derek27]

I don't thinking everyone is waiting for you to fail...

It's difficult. I wish the OP the best as I do to all traders, but when you tell someone he's guaranteed to fail with his challenge it would make me feel an idiot if he succeeded.

[Trader Pat]

I don't thinking everyone is waiting for you to fail...

It's difficult. I wish the OP the best as I do to all traders, but when you tell someone he's guaranteed to fail with his challenge it would make me feel an idiot if he succeeded.

[smarttraderr]

ha ha why everyone is waiting for me to fail. I already said that failure is imminent and no one is immune from it. its part of the process. no one here can claim that they wont fail.

In fairness, your comment about learning together and failing together was inviting a negative response. You should have said succeed together.

Because I cannot say succeed together as that is impossible to achieve. But we all can learn together and failing is just part of the process so fail together too

Its just beginning of long journey and we all know that failure and learning are 2 fundamental pillars of any success.

But to be honest whatever people say.. I am and many are learning alot from this so I am glad that its happening

[smarttraderr]

End of Day 2 - Report

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Starting Balance - £65.13
Closing Balance - £85.33
Planned Target - 10%
Actual Return - 31%

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Done for the Day !

Day2.png

[sionascaig]

End of Day 2 - Report

---

Starting Balance - £65.13
Closing Balance - £85.33
Planned Target - 10%
Actual Return - 31%

---

Done for the Day !

Day2.png

Good effort )

[Kai]

Welcome back Kai, I thought you did a runner

*laughs in Klopp*

And miss out on that lifetime Bet Angel subscription that everyone receives after 3000 posts?!