First Day Trading

[peanuts]

Wotcha all
So I gotta tell someone and none of my friends are interested
My first day of nothing but trading today, previous I was just learning the ropes.
47 races traded, 39 posative results and only two fuck ups where I let it go too long in play. Pretty happy with that
Simple stratagy most of the day, trade pre race leaders who are $10 and under, sometimes let it go inplay but get out quick if it goes south.
Only smaller stakes but by the end it seemed to be effortless and at no stage did I panic.
Looks good for the future
Cheers

[MemphisFlash]

Welcome to the forum, hope you enjoy your time here.

[to75ne]

Wotcha all
So I gotta tell someone and none of my friends are interested
My first day of nothing but trading today, previous I was just learning the ropes.
47 races traded, 39 posative results and only two fuck ups where I let it go too long in play. Pretty happy with that
Simple stratagy most of the day, trade pre race leaders who are $10 and under, sometimes let it go inplay but get out quick if it goes south.
Only smaller stakes but by the end it seemed to be effortless and at no stage did I panic.
Looks good for the future
Cheers

you need to get rid off "sometimes let it go inplay but get out quick if it goes south" it will be your undoing even if "Only smaller stakes"


unless you intend letting a trade go inplay for a valid reason other than trying to luck out it will bite you badly sooner or later.

[Derek27]

Wotcha all
So I gotta tell someone and none of my friends are interested
My first day of nothing but trading today, previous I was just learning the ropes.
47 races traded, 39 posative results and only two fuck ups where I let it go too long in play. Pretty happy with that
Simple stratagy most of the day, trade pre race leaders who are $10 and under, sometimes let it go inplay but get out quick if it goes south.
Only smaller stakes but by the end it seemed to be effortless and at no stage did I panic.
Looks good for the future
Cheers

Welcome to the forum peanuts (you're not my neighbour's cat are you? ).

There's nothing wrong with letting trades go in-play if it's part of a pre-planed strategy with a purpose but doing it simply because the trade is in the red and you're hoping for better luck is pure random gambling and a one-way ticket to failure. Now's the best time to nip it in the bud - many people struggle with it for years.

If you're trading to small stakes it's a good idea to experiment and try new ideas but don't pick up bad habits with small stakes, it will just magnify your losses when your stakes get bigger. Good luck.

[Kai]

Wotcha all

Welcome to the outer rim of society and well done on your first day

So I gotta tell someone and none of my friends are interested

They will be once you start making more than peanuts! But by that time trends will most likely be your best friends anyway And Derek.

47 races traded, 39 posative results and only two fuck ups where I let it go too long in play. Pretty happy with that

Only two inplay fuckups?! Expecting more? Asking since one can be enough to wipe out your day or week etc

Only smaller stakes but by the end it seemed to be effortless and at no stage did I panic.

Shouldn't panic with small stakes and it can indeed feel effortless since you have nothing to lose and your emotions and cognitive biases are not in play yet But they say the real learning starts only when you increase your stakes!

[wearthefoxhat]

Pre-Trade to In-Play is fine as long as it's not used to "chase" a pre-trade red number. IMHO, Pre and IP are separate bedfellows.

Someone famous in trading once said, "there's a strategy for every market and a market for every strategy. Your mission if you choose to accept it is...."

[decomez6]

Well you can peanuts !

Great mindset,

But ,

You must stop chasing those prices if it’s not part of your strategy . Spend that time working on the next race .
Pretty sure you ve watched those videos where the strategy used was >95% successful just laying at the price of 5 and offset it 5 ticks with greening .

And still not profitable.

Just remember:
if you play randomly using a predetermined entrance and exit points and never go in-play you will more or less break even .( minus commission).

Now please tell me how your peanuts look like I-don’t want munch on them when they appear on the ladder. I need to ask for permission before I take all that money you leave on the table when you go in play and join the FOMOians.

All the best .
And
Welcome !

[peanuts]

Thanks all
The inplay is part of the stratagy as leaders tend to be backed close to the off and inplay, i'm not just chasing random numbers. The only times the price didn't come in was when the horse didn't race according to my speed map. I fully understand that going in play edges closer to punting than trading but thats the level of risk I'm ok with. If the horse doesn't jump well or doesn't lead I'm out within 20 seconds of the race starting. Trading seems to be about finding what works and if yesterday was any intication this works for me.
Thanks again everyone, I'll definatly be tapping into this knowlede base more often