Losing Confidence!

[NR169]

Before you leave Mugs could you just tell how to make £200 a day as I am fed up with testing ideas, running automations, reading and researching and not having a life.

I want to get up late, drive a Porche and do it all with no effort.

Is that not reasonable?

Now off for a cold shower as sadly I am a trader and there is a long afternoon and evening ahead.

[mugsgame]

Before you leave Mugs could you just tell how to make £200 a day as I am fed up with testing ideas, running automations, reading and researching and not having a life.

I want to get up late, drive a Porche and do it all with no effort.

Is that not reasonable?

Now off for a cold shower as sadly I am a trader and there is a long afternoon and evening ahead.

ha ha nice one NR, £200 a day? It's a known fact we don't get out of bed for less than twice that. Anyway who wants a Porsche when you can have an AMG

[superfrank]

NR

i suspect that the type of people that approach this game with the gold rush attitude don't last very long.

it took me a couple years to recoup early losses and scrape a living from it - and just as things were getting better the racing markets turned to sh*t!

i'd advise anyone who is thinking of trading for a living (sports or financials) to forget it (unless you wanna work for an investment bank). the amount of people who make a living from trading is probably less than 1 in a thousand from those that try. it can be done but it requires a lot of hard work and an inhuman mentality (and often lifestyle!).

the trading industry won't tell you that (including BA) because they are the ones selling the shovels (and making the money) in the gold rush.

[Boing]

rogerlisa, don't go on tilt. Just go back to basics and build up from there.

[legendz]

i agree with the majority , i've been using bet angel for 4 years now only just in the last 6 months started to make a decent profit, all very good but like someone posted the markets have turned to shit, different pc charges coming and going so i still have have a job with a good income because i dont know whats round the corner, on a more personal note , ive grown countless grey hairs i have a few more wrinkles but most of all my six pack is now a god damn beer keg , and i dont drink but i do sit on my ass at the computer alot , hence my first decent profits went on a treadmill and a new bike. my point is it can be done like everyone says, but its hard work and there are a lot of sacrifices.

[Alpha322]

i still have have a job with a good income because i dont know whats round the corner,

Now thats better than any 1.01 Lay Satisticaly

[Johnny_Horror]

Hi Rogerlisa

A reletive Newbie to trading myself so I understand how you feel.

I dont feel anyway experienced enough to try and patronise you and give you advice on a field I'm still learning myself. But if I can pass on some of my own experiences that have shaped how I trade in the small amount of time (6 months) i have been doing this then maybe you can decide if this is for you.

I think one of the important things I have learned is to "expect the unexpected" there is no course of action a market will follow. It will go against you and you have to be prepared and be disciplined. I always have a set number of ticks that if the market does go against me then I'l get out (I'd Rather lose £50 then £500)and once I'm out i'l forget about what I've lost then move on to the next market.

Second most important thing to me is detach yourself from your bank. You will win, you will lose. Don't let either shape how you view the markets. I fell into Betfair by accident, after I joined betfair I learned about laying and on my first day I made £700 from horse racing. It wasnt until I lost my entire bank in the next 2 days that I realised, this isnt easy. It takes work and discipline.

The most important is you need a bit of soul searching. after I broke a few banks i walked away for a week and questioned why I wanted to do this. The answer for me was simple because I enjoyed it, and as some of the more experienced posters here have mentioned there is no 'easy trade', with Discipline in my trading i keep my losses manageble (at times!) the moment this stops being fun is the moment I walk away.


Hope this all helped

[Euler]

I don't think we should forget the main reason that people want to trade or deploy higher level strategies. It's much better than just backing or laying. OK it can be frustrating and it's very different from traditional betting, but it's much better.

I think one of the issues is that with traditional betting tips are dominant. So when people start out trading from a gambling back ground that tipping train of thought makes it feel like there is some magic button or strategy when in fact it's a lot deeper than that. People inevitably want a short cut; so I know that annoys people who have been through the mill but I think it's inevitable, but contradictory, that people want to cut corners.

I think the industry does suffer from too many people pretending to be knowledgeable on trading and dishing out duff advice. It's fairly obvious to seasoned participants that a lot of shovel sellers are just that. One thing I'm proud of with Bet Angel is that I've always earned more from using it than selling it, but I think that's pretty rare TBH.

[horseplay]

well i for one say i made a small profit , already from this program

i am finding it a bit complicated at times but i am getting there

[horseplay]

I wasn't going to post it , but i will anyway as i'm superstitious as my jix me more not posting it when thinking about helping someone a fellow newbie than not.

i have been using bet angel only a few days , then today learned how the dutching works.

i'm okay at maths and in general terms probablity speaks for itself

the maths of ohms law what can happen will happen so which means a long shot will come in , i dont think you should ever stake more than your profit in other words.

you stake for 20 dollars profit at 4 horses and make sure your stake doesn't go over 20 dollars will give or take maybe 25 but not over eccsess.

this means you are getting 2/1

on 4 horses,

even if you really want that 5th or 6th horse

long term it makes no mathimatical sense to go over the probablitily of something 50 to 50 something happening on the horses you have

the program gives you 50 50 shot of more than 4 horses i wouldn't go less than 4 horses.

thats my input , of course today i could lose but one today on that method