Been at it myself for the past 6 months, trying to create my own strategies, learning the markets etc...
Im still not close to being able to turn a consistent profit from it though. Very up and down, however i feel i have started to turn a corner in the past few weeks realising my discipline was my main problem.
So for those who make consistent profits from trading, how long from starting out did it take you?
How long did it take you to start turning a profit?
Almost a year on and off. of that year the last 4 or 5 months or so I was doing it daily until I noticed some things and it finally clicked. I've spoken to quite a few people who have all said that after a longish period of learning, suddenly it clicks (for various reasons), almost like a quantum leap. We like to think of progression as gradual, but if you look at nature and human history, big changes tend to come surprisingly suddenly.
Hi,
I orginally turned £20 in over £4000 (it took about a year of weekends and nights). But unfortunately over the last 6 or 7 months I get a profit of about £200 - £300 a week but then I let it got in play and lose the profit for the week, so end up even. I am now starting to see the light so to speak and trading with a smaller bank just to try and kick the habit of inplay.
Good luck
Jimmy
I orginally turned £20 in over £4000 (it took about a year of weekends and nights). But unfortunately over the last 6 or 7 months I get a profit of about £200 - £300 a week but then I let it got in play and lose the profit for the week, so end up even. I am now starting to see the light so to speak and trading with a smaller bank just to try and kick the habit of inplay.
Good luck
Jimmy
I think everybody is different TBH.
When I started I had no reference point to go on, so I had to make it up as I went along. It was nearly three years before I met my first fellow trader! When I started I just poked around at random and then tried to cut out obvious mistakes, so it was a slow climb. But when I'd narrowed down key characteristics I picked up speed pretty quickly from there.
Because I started so long ago I don't think my experiance is particulary relevant to current markets or people just starting up. There is a lot more knowledge out there than when I started, but the market is also a lot more competitive too.
I thought Adam Heatcotes posts was interesting on his figures: -
http://3.bp.blogspot.com/_EmNMGa10fIc/S ... _excel.jpg
When I started I had no reference point to go on, so I had to make it up as I went along. It was nearly three years before I met my first fellow trader! When I started I just poked around at random and then tried to cut out obvious mistakes, so it was a slow climb. But when I'd narrowed down key characteristics I picked up speed pretty quickly from there.
Because I started so long ago I don't think my experiance is particulary relevant to current markets or people just starting up. There is a lot more knowledge out there than when I started, but the market is also a lot more competitive too.
I thought Adam Heatcotes posts was interesting on his figures: -
http://3.bp.blogspot.com/_EmNMGa10fIc/S ... _excel.jpg
J inplay running is fine, i make about £100 per week with samll stakes, the key is get out at the 3 furlong maker pole with what ever you got. Somtimes i preset a defined profit, its taken me months especially with our 10 second delay tv,s to find where the pivot point of saftey has been, i find its at the 3 furlong pole. The disipline is to leave by then. Somtimes i get greened up with my profit on BA way before there and the horse i had the liability on go,s on to win, (great feeling knowing you dont have to payoutJimmy wrote:Hi,
just to try and kick the habit of inplay.
Good luck
Jimmy
) try it 3 no match get out, i garentee if you are in loss you wouldnt of even reached one quater of your liability good luckI lay the selection (Usually the favourite) at the best lowest price available. 10 minute window outside the money. I get a good trade sometimes several ticks and green up, when they run i watch the race develop, usually between the 4th and 3rd furlong (5th from last fence for jumps) you should get greened up for at laest 30% of the stake, if you havnt by the time the third furlong pole comes up you should leave the trade (and i mean leave). I have only been caught out once when ATR moved the camera angle and i missed the 3 marker but only lost half the liability of £123.00. It works well but as you see i have put in play on hold and discovered the edge that Set to reverse has to making good trades. Have fun but remember 3 and out out ouuuutHuman123 wrote:hey alpha,
do you dip in and out as the race develops?
or take a pre-race position and put an order in for inplay?
Leave the trade,close out, if in profit before hitting your predetermined target (30% of stake recomended as max)Human123 wrote:Sounds good,
when you say "leave" you mean exit yeah? as in red up?
or literally leave the lay running?
green up!! and run with what profit is showing, if in loss click out with greening unticked if the horse doesnt win you wont have lossed anything or won anything, but you must be diciplined to operate this system