Interesting thread and posts guys to which i can relate entirely. Recently i turned off the trading profit column on the BA ladder screen as whenever i found myself on the "red side" i would be fixed on the price moving back to zero or profit and not concentrating on where the price might be going. And as we all know the market is the master and where my point of profit is, is actually irrelevant as to when i should exit my trade, the market(being master) should tell me this point not the other way around. It has worked for me so far, as i do not let bad trades go off into the distance anymore, and thus has helped me not to let any trades go in play of which i was guilty quite often.
Thanks guys
Help I'm a PSYCHO! (In the Jack Nicholson sense)
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mikesalter
- Posts: 40
- Joined: Sun Mar 07, 2010 1:30 pm
Hi Nellie,
that's an interesting strategy because I have been waiting to make more back and reduce loss whereas I should have got out once the market stabilised at a new, albeit loss making, level. What I have been watching is my profit loss however thinking in your way makes more sense to me. Where before I was watching the trends on the graphs and seeing the rhythms in the movement once a spike occurs and I go into loss I have stopped doing that and started to look at the loss.The only issue with that is that its quite common for the trade to briefly go into loss because you were following a trend but went in a bit too early, the profit loss just tells you where the crossover point is on your exposure, how do you cope with this?
that's an interesting strategy because I have been waiting to make more back and reduce loss whereas I should have got out once the market stabilised at a new, albeit loss making, level. What I have been watching is my profit loss however thinking in your way makes more sense to me. Where before I was watching the trends on the graphs and seeing the rhythms in the movement once a spike occurs and I go into loss I have stopped doing that and started to look at the loss.The only issue with that is that its quite common for the trade to briefly go into loss because you were following a trend but went in a bit too early, the profit loss just tells you where the crossover point is on your exposure, how do you cope with this?
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mikesalter
- Posts: 40
- Joined: Sun Mar 07, 2010 1:30 pm
Not sure why the last post went red, unintentional
Just re-read this thread - the advice keeps getting better - thanks again.
Bet Angels and Bet Demons (drum role, tumble weed rolling past)
how many times has that been used.
I had always had the trading P&L column turned OFF. However I was watching Youtube videos last week (can't remember which ones) and I was watching a trader with it turned ON - their trades were flying in all over the place but they were constantly using the trading P&L column. I thought thats interesting and for me it has been a revelation.
Funny how different people have different styles - and i think thats a crucial point - what works for somebody may not work for somebody else.
Bet Angels and Bet Demons (drum role, tumble weed rolling past)
how many times has that been used.hi Nellie90 - (do what works for you - I am NOT trying to change your mind - remember that - I am in no position to criticise others.)nellie90 wrote:Recently i turned off the trading profit column on the BA ladder screen as whenever i found myself on the "red side"
I had always had the trading P&L column turned OFF. However I was watching Youtube videos last week (can't remember which ones) and I was watching a trader with it turned ON - their trades were flying in all over the place but they were constantly using the trading P&L column. I thought thats interesting and for me it has been a revelation.
Funny how different people have different styles - and i think thats a crucial point - what works for somebody may not work for somebody else.
Hi LeTiss,
I have enjoyed reading you posts on the forum. I think I remember you saying you dont trade horses but focus mainly on football!*?
Out of interest do you trade these markets InPlay using BA Soccer Mystic product or do you NEVER trader football InPlay?
If you trade In Play how do you cope with the massive market swings if a goal is scored and the market is suspended if you are offside (forgive the pun) or then again you may not trade the Match Odds market.
I have enjoyed reading you posts on the forum. I think I remember you saying you dont trade horses but focus mainly on football!*?
Out of interest do you trade these markets InPlay using BA Soccer Mystic product or do you NEVER trader football InPlay?
If you trade In Play how do you cope with the massive market swings if a goal is scored and the market is suspended if you are offside (forgive the pun) or then again you may not trade the Match Odds market.