So I started messing around with trading a month or two ago nothing serious but didnt have a clue what I was doing. I have been studing and using practice mode since and have started trading for real very small stakes so see how things go just this week. I am gonna put up how I do each day with some really stupid questions until I either go mad and lose my bank and give up!!!
Day 1 10 races profit €0.64 (made a silly mistake which cost me to lose 0.74)
Day 2 11 races profit €3.27
Question:
I know its bad to let run in play usually but on a couple of occasions I was a few ticks from getting matched on the odds on favourite and I was watching on screen and it looked like he was going to lead (2 mile race) so I let go in play because I figured he was going to come down a few ticks when he lead, is this still to risky?
new trader
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convoysur-2
- Posts: 1110
- Joined: Thu Jan 12, 2012 10:00 am
Hi Man.
is it too risky you ask ?
that question could be debated .
my answer to you is that its a very bad habit to develop.because you are just starting i would suggest practicing discipline and getting out no matter what at x amount of seconds or mins before the off.
Marc
is it too risky you ask ?
that question could be debated .
my answer to you is that its a very bad habit to develop.because you are just starting i would suggest practicing discipline and getting out no matter what at x amount of seconds or mins before the off.
Marc
thanks for advice guys, I took it today was close to letting run in play on one race to try get extra tick profit but took a smaller profit before the off and also took a loss before went in play but my god was it hard to take a loss and resist the urge to go in play!!!
Day 3 profit for day 3.46
Day 3 profit for day 3.46
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convoysur-2
- Posts: 1110
- Joined: Thu Jan 12, 2012 10:00 am
you want to get to a place where you get more wins than losses ,but losses are a very big part of trading so get used to it.
hope fully you will get to a place where you have no emotion about your wins or losses,
if you let your trades go inplay , the money will be gone ,the trading gods will punish you for being weak.
Marc
hope fully you will get to a place where you have no emotion about your wins or losses,
if you let your trades go inplay , the money will be gone ,the trading gods will punish you for being weak.
Marc
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JollyGreen
- Posts: 2047
- Joined: Sat Mar 21, 2009 10:06 am
Hi
The advice already given is very good and I concur - never let it go in play!
You could also apply an automated rule which closes all positions the trade x seconds before the start. This removes the temptation to let it turn in play!
JG
The advice already given is very good and I concur - never let it go in play!
You could also apply an automated rule which closes all positions the trade x seconds before the start. This removes the temptation to let it turn in play!
JG
thanks for advice guys!!!!
Day 4 11 races profit €5.11
Would have been higher but messed up and had to take a loss on one race!!!
Is there a specific time when you want to exit a trade, a couple of times today I might have exited to early, there was over 3 mins left and I exited as had profit and was afraid things might go wrong.
Day 4 11 races profit €5.11
Would have been higher but messed up and had to take a loss on one race!!!
Is there a specific time when you want to exit a trade, a couple of times today I might have exited to early, there was over 3 mins left and I exited as had profit and was afraid things might go wrong.
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JollyGreen
- Posts: 2047
- Joined: Sat Mar 21, 2009 10:06 am
If you have TV pictures (ATR RUK or Betfair Live video) you should be looking to trade right up to the start of the race. However, you do this only if you see a trend or are in a trade. Do not feel like you should get involved just because there is sufficient time remaining.
What you can find is market volatility close the official start time because people and Bots trading with just the time and not live pictures exit their positions.
What you can find is market volatility close the official start time because people and Bots trading with just the time and not live pictures exit their positions.
update for wed and thurs:
Wednesday 23 races profit €42.37
Thursday 21 races profit €47
find myself clicking sometimes for the sake of clicking need to be more disciplined, couple of times I also waited and waited for extra couple of ticks and didnt get matched so need to just take a smaller profit!!
Wednesday 23 races profit €42.37
Thursday 21 races profit €47
find myself clicking sometimes for the sake of clicking need to be more disciplined, couple of times I also waited and waited for extra couple of ticks and didnt get matched so need to just take a smaller profit!!
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Crazyskier
- Posts: 1298
- Joined: Sat Feb 06, 2016 6:36 pm
Perhaps his confidence and learning curve are resulting in larger stakes? Or he has a staking plan to % of balance?LeTiss 4pm wrote:So after 4 days you made £12.48
After 1 week, you made £250
That seems an incredible jump to me in 3 days?
Either way, good luck to him - I'm still a losing trader, consistently!
