Hi All,
First post here after attending Peter's course. Hope you're all well. I just wanted to post here to vent a bit of frustration. I started with a bank of just over £100 today and, using £1 tick sizes (as Peter did when he started), I've lost more than 10% of it already. I've never had such a bad day's trading (I traded with very small stakes before). Almost everything I did went against me. And it just got worse with the 18:20 at Kempton.
How did you find it today and have you had similar days? Any advice?!
Alex
Such a BAD day
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sdistefano
- Posts: 10
- Joined: Mon Jul 27, 2009 1:35 pm
Alex,
it always happens to me that when I learn something that makes me improve, it takes some losing trades before I start implementing it right and the improvement turns into £.
Personally, I have lost the first few days after taking the course, but then came back much stronger.
Over time you should be able to adapt to changes in both the market and yourself more quickly.
it always happens to me that when I learn something that makes me improve, it takes some losing trades before I start implementing it right and the improvement turns into £.
Personally, I have lost the first few days after taking the course, but then came back much stronger.
Over time you should be able to adapt to changes in both the market and yourself more quickly.
I would be careful about how the course has affected your trading. If you come away from the course thinking that you now know how to trade, and are overconfident ( especially if you were a losing trader before the course) then you will find it very frustrating and painful if you are throwing yourself into the market, especially with bigger stakes than you are used to.
This is from personal experience.
This is from personal experience.
I don't think anybody should start their trading career with large amounts of money and that is why it is recommended that people start small and build up from there, its just sensible. It's pretty rare to become an overnight success.
That's why we open the training with an entire section about money management and expectation setting.
That's why we open the training with an entire section about money management and expectation setting.
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appledore10
- Posts: 3
- Joined: Sat Dec 12, 2009 9:19 pm
You need to watch the race markets before trading,and get a feel for the direction it is taking, this takes time and practice, paper trade until you win more trades than you loose, accept that you will always have loosing trades, every one does, accept it and move on to the next race, but don't trade for the sake of it. Start with small ammounts until you are confident that you can guess which way it is going, put a stop loss in, that will limit your losses, always "Green up"
I know from experience it is difficult and frustrating particularly if you don't have anyone to discuss it with, many traders work alone. You won't be a "super trader" over night it takes a lot of time and practice.
Good Luck
John
I know from experience it is difficult and frustrating particularly if you don't have anyone to discuss it with, many traders work alone. You won't be a "super trader" over night it takes a lot of time and practice.
Good Luck
John
Thanks for all your comments. They've all been noted. I have to say that when I wrote the post I was feeling the inevitable frustration at having a bad day. It was rather melodramatic and I apologise for this.
Don't worry I'm only starting with £100 bank so I would say I'm using relatively small stakes. I'm feeling much more positive today.
Don't worry I'm only starting with £100 bank so I would say I'm using relatively small stakes. I'm feeling much more positive today.
I never understood why it is said gives less trading oportunities? Is it the volatility? Low liquidity? Is it harder or easier than summer?Bet Angel wrote:Winter is generally considered to be a much harder time of the year. Today was pretty volatile so it's no surprise if people didn't enjoy the markets today.
This is my first post since attending the course in November 2009 too.
By camparison I have had a nightmare trading the soccer markets this Christmas. Before attending the course I managed to push my bank from 200 to just under 1000 in a few weeks. This was just by watching the videos on youtube etc.
I am now all but wiped out and will have to go into hibernation for a while. I need to re read the handouts and see where I am going wrong. Just overconfidence or bad luck as well I don't know but really really FED UP!!
By camparison I have had a nightmare trading the soccer markets this Christmas. Before attending the course I managed to push my bank from 200 to just under 1000 in a few weeks. This was just by watching the videos on youtube etc.
I am now all but wiped out and will have to go into hibernation for a while. I need to re read the handouts and see where I am going wrong. Just overconfidence or bad luck as well I don't know but really really FED UP!!
Back in to Betfair this weekend after resisting the temptation since Christmas. Two weeks planning and watching etc and despite following a few helpful tips from other bloggers since my post.......THE PAIN CONTINUES in 2010!
I think I am better going back to the bookies, at least I got to collect every so often!! Any newbies out there -
follow the advice and tread very carefully. I have lost more this year already than the last 2-3 years put together through traditional gambling. Can't say I recommend the course for soccer traders as I came away full of confidence, to discover that it has muddled my strategies. It may be my fault but Peter makes it look almost too easy!!
I think I am better going back to the bookies, at least I got to collect every so often!! Any newbies out there -
follow the advice and tread very carefully. I have lost more this year already than the last 2-3 years put together through traditional gambling. Can't say I recommend the course for soccer traders as I came away full of confidence, to discover that it has muddled my strategies. It may be my fault but Peter makes it look almost too easy!!