Bet Angel for newbies / Getting started : Wow Saturdays are hard

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billyboyrifle
Posts: 17
Joined: Sat Feb 10, 2018 2:58 am

Sun Feb 11, 2018 6:09 am

Newbie here, after practising midweek in practice mode and doing ok (average £40 a day) i thought i would apply my scalping technique to today's races. Jesus is it a different kettle of fish. Spikes everywhere was too fast paced for me and i gave up. Time to go back to the drawing board and find an edge. I wont be trading today (still practise mode) just analysing all the different factors in the market and getting my head around why/when/what is happening.

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MemphisFlash
Posts: 644
Joined: Fri May 16, 2014 10:12 pm
Location: Leicester

Sun Feb 11, 2018 8:22 am

billyboyrifle wrote:
Sun Feb 11, 2018 6:09 am
. I wont be trading today (still practise mode)
let me give you a bit of advice, unless your using your own money your not trading your PLAYING with the software!!!!

billyboyrifle
Posts: 17
Joined: Sat Feb 10, 2018 2:58 am

Sun Feb 11, 2018 12:56 pm

Damn when i see the word advice i thought you were going to give me the key to unlock a wealth of opportunity :(

Duely noted sir

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ShaunWhite
Posts: 3347
Joined: Sat Sep 03, 2016 3:42 am

Sun Feb 11, 2018 1:14 pm

If you did OK midweek but not on Saturday..... The advice is simple, don't do Saturdays.

As Memphis says though, practice mode is very different.

billyboyrifle
Posts: 17
Joined: Sat Feb 10, 2018 2:58 am

Sun Feb 11, 2018 7:04 pm

Cheers lads.

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ShaunWhite
Posts: 3347
Joined: Sat Sep 03, 2016 3:42 am

Sun Feb 11, 2018 7:47 pm

In all seriousness, scalping is all about finding the right market at the right time. Chances can come up on any day.

I'm always baffled though why new people try scalping first, opportunity is like hens teeth and you need lightening reactions to avoid getting shafted. Do yourself a favour and look at things where situations take longer to develop and you have time to absorb what's going on with and around your selection.

billyboyrifle
Posts: 17
Joined: Sat Feb 10, 2018 2:58 am

Mon Feb 12, 2018 9:17 pm

ShaunWhite wrote:
Sun Feb 11, 2018 7:47 pm
In all seriousness, scalping is all about finding the right market at the right time. Chances can come up on any day.

I'm always baffled though why new people try scalping first, opportunity is like hens teeth and you need lightening reactions to avoid getting shafted. Do yourself a favour and look at things where situations take longer to develop and you have time to absorb what's going on with and around your selection.
Many thanks Shaun, i thought i would try scalping first as all the resources i have read state its one of the easiset. Im now wondering how outdated this info is as it looks as though the exchange has completely evolved since these tutorials were developed.

Thanks for your time in responding

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ShaunWhite
Posts: 3347
Joined: Sat Sep 03, 2016 3:42 am

Tue Feb 13, 2018 12:50 am

No probs billy, glad to help.

If you take a look at the Chart of the Day thread you'll see things are pretty hairy for scalpers at the moment. Nice and steady one minute then whoosh.

It's not made any easier by the time of year, there's not a great deal of money around so when things move they tend to have quite a bit of momentum. I'd suggest keeping to the better quality races but frankly these can be just as bizarre. Don't be put off though because you can use it to your advantage.

Keep your stakes smaller and expect a bit more 'noise', don't let your losses run too far and hopefully you'll have a few that go your way 10 or even 20 ticks. It'll certainly be more relaxing than scalping 1,1,1,1,-6 and repeat.

Be mindful of the crossover points too, those zones where the BF step size changes, you don't really want to be sat where a sudden move against you takes you into larger odds increments. 2.0 can be a bit of a danger zone too but read it right and it's a lucrative area. Peter's YouTube videos on Support and Resistance might be useful to you. Although the recent moves show little respect for it, it's always relevant to some extent.

Every market is different though and as always, if you're not sure just keep your powder dry for those times you find a market that appears to be behaving in a way that might suit you.

Everyone will have a different opinions about how best to start, but my best suggestion is to keep it small, expect to lose a little, but try and learn as much from the failures as you do from your successes.

billyboyrifle
Posts: 17
Joined: Sat Feb 10, 2018 2:58 am

Fri Feb 16, 2018 8:13 pm

ShaunWhite wrote:
Tue Feb 13, 2018 12:50 am
No probs billy, glad to help.

If you take a look at the Chart of the Day thread you'll see things are pretty hairy for scalpers at the moment. Nice and steady one minute then whoosh.

It's not made any easier by the time of year, there's not a great deal of money around so when things move they tend to have quite a bit of momentum. I'd suggest keeping to the better quality races but frankly these can be just as bizarre. Don't be put off though because you can use it to your advantage.

Keep your stakes smaller and expect a bit more 'noise', don't let your losses run too far and hopefully you'll have a few that go your way 10 or even 20 ticks. It'll certainly be more relaxing than scalping 1,1,1,1,-6 and repeat.

Be mindful of the crossover points too, those zones where the BF step size changes, you don't really want to be sat where a sudden move against you takes you into larger odds increments. 2.0 can be a bit of a danger zone too but read it right and it's a lucrative area. Peter's YouTube videos on Support and Resistance might be useful to you. Although the recent moves show little respect for it, it's always relevant to some extent.

Every market is different though and as always, if you're not sure just keep your powder dry for those times you find a market that appears to be behaving in a way that might suit you.

Everyone will have a different opinions about how best to start, but my best suggestion is to keep it small, expect to lose a little, but try and learn as much from the failures as you do from your successes.
Thanks for taking the time to respond Shaun, all advice in my eyes is invaluable.

I had a good day today, traded 13 races and won 10, left scalping for the majority of races as i am now getting more of a feel for the markets and when scalping is right to action. I have been following order flow and not worrying too much if the price goes against me, but being calm, noting a stop loss in my head and riding it through. This has increased my win %. Dont get me wrong i didnt win alot as still on small stakes, £15 being my max, but until im confident i can win more trades then i loose thats when i will stary upping my stakes.

Im in a lucky position that i work shifts, so i can normally get at least a few hours of trading practice a day. I have tried dabbling in automation but thats not for the faint hearted, timing is everything at the moment to me and getting that right with automation is too hard.

Thanks again bud,

Billy.

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MemphisFlash
Posts: 644
Joined: Fri May 16, 2014 10:12 pm
Location: Leicester

Fri Feb 16, 2018 10:15 pm

did you trade or did you PLAY!!!!

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