I was just wondering if you pro traders turn over a profit every day you trade or do you also get losses, but profit in the long run?
i watched lots of trading videos which all show how easy it is to have all these green numbers but none of them actually explain target Indicator what to look for in a trade worth while. they dont teach you how to use graphs. infact they dont help you in the slighest
my conclusion.
if your making money on trading why would you help others.
if i sugessted 3 race meetings in advance would a sucessfull trader be able to video his trades on all three races and show that its not just the lucky trades that are put on youtube.
does anyone agree and accept the challange or am i the one thats FULL OF IT!!!
Full of it!
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chevychase80
- Posts: 8
- Joined: Sun Dec 06, 2009 3:55 pm
I would say you're a bit FULL ON to get a nice response out of anyone!
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evertonian
- Posts: 81
- Joined: Thu Apr 16, 2009 10:34 am
I was just wondering ,as a trader that's just starting how much analysis of your trading have you done?
If you take time to analyse markets and graphs you will soon see that trading the horse racing pre race is actually profitable ! Everybody seems to doubt that it can be done, but I can tell you from experience that if you work hard at it and learn from mistakes etc you will turn from a losing trader into a profitable one.
My conclusion.
If your losing money on trading then you are not trading properly.
A succesful trader will show a daily profit.
Yes you are correct to doubt as you are only a beginner, but if a trader is a "professional" then he is making a living from trading. He / She shouldnt have to teach somebody else how to trade as we have all been through the same process as everybody else.
Some fail because they havent the mentality for trading and haven't worked hard enough at it. There is nothing to be FULL OF IT about the work that traders have put in to be where they are.
If you take time to analyse markets and graphs you will soon see that trading the horse racing pre race is actually profitable ! Everybody seems to doubt that it can be done, but I can tell you from experience that if you work hard at it and learn from mistakes etc you will turn from a losing trader into a profitable one.
My conclusion.
If your losing money on trading then you are not trading properly.
A succesful trader will show a daily profit.
Yes you are correct to doubt as you are only a beginner, but if a trader is a "professional" then he is making a living from trading. He / She shouldnt have to teach somebody else how to trade as we have all been through the same process as everybody else.
Some fail because they havent the mentality for trading and haven't worked hard enough at it. There is nothing to be FULL OF IT about the work that traders have put in to be where they are.
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lilgreenback
- Posts: 211
- Joined: Thu Apr 16, 2009 11:28 am
Hi,
By the sounds of your Post you have had a number of losses and are hoping that the cashmedics can cure a broken account.
I'm a newbie but a bit of a seasoned one now 1 year in; you like many others, me included, I realised that this trading malarkey is not always what it says on the tin.
So when did you realise that?, my moment of enlightenment came when I greened up my first £10 profit and made about 0.7p. (I was then thinking how long it would be before I broke even on my BA Sub) That was before I went in play the first time. Does the pattern sound familiar!!!
So we come to the crux there is no such things as easy money, no golden goose. You can say well it looks easy; so does a lot of things but it does not mean we can all do them. We might know how to drive but we ain't no Button; we know how to play golf but we ain't no Poulter.
You can have a manual for an IKEA unit it don't mean you can put the b****y thing together; I can understand a lot of the frustration you may feel however a full undertanding of the software is essential and a basic understanding of the market movements is a good idea.
My Blue friend says
Not being able to deal with that will end your progress as a trader just as effectively as picking poor entry or exit points. If one of the PROs should show you how to trade as they did what would you do when it went t*ts up and rather than losing £70 to £200 on a turning market you where facing a loss £500 to £KKs. They would scratch or Red it way before it became serious, they would do that through experience and that can't be taught.
My advice friend and I am no great shakes at trading is to buy a cheap laser printer two cartridges and two reams of paper and start saving the posts that are relevant to you. A lot of Pros have put a lot of effort in sharing their knowledge and expertiese but it is no use it being spoon fed.
It is a long lonely road tread it wisely and keep looking; stick at it using small stakes, watch the markets and ask questions and Oh please and thanks goes a long way in the world too. Most of all there is no luck just good judgement and bad, but most of all only one person is responsible for clicking the mouse.
Never GO IN PLAY ever
Cheers
LilGB
By the sounds of your Post you have had a number of losses and are hoping that the cashmedics can cure a broken account.
I'm a newbie but a bit of a seasoned one now 1 year in; you like many others, me included, I realised that this trading malarkey is not always what it says on the tin.
So when did you realise that?, my moment of enlightenment came when I greened up my first £10 profit and made about 0.7p. (I was then thinking how long it would be before I broke even on my BA Sub) That was before I went in play the first time. Does the pattern sound familiar!!!
So we come to the crux there is no such things as easy money, no golden goose. You can say well it looks easy; so does a lot of things but it does not mean we can all do them. We might know how to drive but we ain't no Button; we know how to play golf but we ain't no Poulter.
You can have a manual for an IKEA unit it don't mean you can put the b****y thing together; I can understand a lot of the frustration you may feel however a full undertanding of the software is essential and a basic understanding of the market movements is a good idea.
My Blue friend says
This is somthing that is vital i.e. mental attitude or psychology, of winning/losing.evertonian wrote: Some fail because they havent the mentality for trading and haven't worked hard enough at it
Not being able to deal with that will end your progress as a trader just as effectively as picking poor entry or exit points. If one of the PROs should show you how to trade as they did what would you do when it went t*ts up and rather than losing £70 to £200 on a turning market you where facing a loss £500 to £KKs. They would scratch or Red it way before it became serious, they would do that through experience and that can't be taught.
My advice friend and I am no great shakes at trading is to buy a cheap laser printer two cartridges and two reams of paper and start saving the posts that are relevant to you. A lot of Pros have put a lot of effort in sharing their knowledge and expertiese but it is no use it being spoon fed.
It is a long lonely road tread it wisely and keep looking; stick at it using small stakes, watch the markets and ask questions and Oh please and thanks goes a long way in the world too. Most of all there is no luck just good judgement and bad, but most of all only one person is responsible for clicking the mouse.
Never GO IN PLAY ever
Cheers
LilGB
I've finally come to my senses on the IN-PLAY, I've been burned too many times and just got so frustrated, its just not worth it.
In theory the long-term expectation from staying IN-PLAY and taking closing prices should be exactly the same, so going IN-PLAY is actually completely point-less and just exposes you to risk needlessly. It's very unlikely you will be more accurate than the market, there are sports geniuses who know their sport inside-out and spend all day with super-duper databases and and super-duper intelligence, even they can't do more than eek out a tiny profit (most end up making their living from TV, radio or newspaper tipping). If they can't make a living out of gambling, we certainly won't.
In theory the long-term expectation from staying IN-PLAY and taking closing prices should be exactly the same, so going IN-PLAY is actually completely point-less and just exposes you to risk needlessly. It's very unlikely you will be more accurate than the market, there are sports geniuses who know their sport inside-out and spend all day with super-duper databases and and super-duper intelligence, even they can't do more than eek out a tiny profit (most end up making their living from TV, radio or newspaper tipping). If they can't make a living out of gambling, we certainly won't.
Like this one?ulsterboy84 wrote:i watched lots of trading videos which all show how easy it is to have all these green numbers but none of them actually explain target Indicator what to look for in a trade worth while. they dont teach you how to use graphs. infact they dont help you in the slighest
http://www.youtube.com/watch?v=L6uQOHyI1qM
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ulsterboy84
- Posts: 3
- Joined: Mon May 10, 2010 7:37 am
i dont understand when i learn how to do it. its not goin to be better.Trading is like teenage sex, everyone wants to do it, as a virgin people don't know how and they are afriad to ask or make mistakes. When it's finally done, there is a surpise its not better.
If you refer back to your original post..The answer is : It's more fun to do it than watch videos!ulsterboy84 wrote:i dont understand when i learn how to do it. its not goin to be better.Trading is like teenage sex, everyone wants to do it, as a virgin people don't know how and they are afriad to ask or make mistakes. When it's finally done, there is a surpise its not better.
I put a new video up this evening. I picked the three races from 15:00 to 15:20 and did some fairly unexciting trades on them. I appended the P&L and my main trading P&L to show you both accounts achieved a profit on all three races.
http://www.youtube.com/watch?v=EIFUc4aVEcQ
Overall today, I traded 40 races and lost on 6. I had three losers in a row so if I had picked those three races it would have looked a very different video! My best result today was a +£300 my worst was -£26.52. Overall all I thought it was an above average day.
http://www.youtube.com/watch?v=EIFUc4aVEcQ
Overall today, I traded 40 races and lost on 6. I had three losers in a row so if I had picked those three races it would have looked a very different video! My best result today was a +£300 my worst was -£26.52. Overall all I thought it was an above average day.
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mulberryhawk
- Posts: 165
- Joined: Thu Oct 29, 2009 12:37 am
Ha ha, love the relaxing music! I must try that when im trading tomorrow, maybe it will help my god awful trading. Thanks for the new vid, its really helpful.
Just a couple of questions in relation to your choice of horses to trade. From what i can remember today in the first example the fav galiotta was heavily supported in the market, With alot of movement. Also in the last example there was a massive swing between the fav carriteau and duke of malfi. Why miss out on these other high volume, high volatility trades to scalp these other selections.
And also in the second example, when you opened your trade the market moved about 4-5 ticks away from your closing trade but you chose not to close out. Was this decision to leave your position open down to full market depth?
I have just started trading properly every day (very badly I might add), and I have to say the market seems impossible to predict with the big plunger nudging the market in the direction he wants it to go.
The issue I have with this type of activity is that its very difficult to learn why these large positions are being taken other than to correct the book %. I know its probably asking too much but it would be really interesting to see how you would manage your positions in a market with the boy plunger about
Just a couple of questions in relation to your choice of horses to trade. From what i can remember today in the first example the fav galiotta was heavily supported in the market, With alot of movement. Also in the last example there was a massive swing between the fav carriteau and duke of malfi. Why miss out on these other high volume, high volatility trades to scalp these other selections.
And also in the second example, when you opened your trade the market moved about 4-5 ticks away from your closing trade but you chose not to close out. Was this decision to leave your position open down to full market depth?
I have just started trading properly every day (very badly I might add), and I have to say the market seems impossible to predict with the big plunger nudging the market in the direction he wants it to go.
The issue I have with this type of activity is that its very difficult to learn why these large positions are being taken other than to correct the book %. I know its probably asking too much but it would be really interesting to see how you would manage your positions in a market with the boy plunger about
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ulsterboy84
- Posts: 3
- Joined: Mon May 10, 2010 7:37 am
i tryed 5 races lose all, however only small stakes im goin to watch all your videos again because now i respect you and all the traders on here.
sorry if i sounded cheeky with my first post was just a bit pist!
I need more practise i think, mabey a few years but i want to have your faith in the markets. how do you know the market was going to change or when would you have exited cause i would have took a loss if i was in your position on second and third race
Anyone wants to give me advice please do even pm and thanks
.ps Can i have your autograph
sorry if i sounded cheeky with my first post was just a bit pist!
I need more practise i think, mabey a few years but i want to have your faith in the markets. how do you know the market was going to change or when would you have exited cause i would have took a loss if i was in your position on second and third race
Anyone wants to give me advice please do even pm and thanks
.ps Can i have your autograph
My office is a hot bed of serenity and calm. I think people often feel you need lots of shouting and bravado when trading, but I just remain very focused on what is in front of me on the screen.mulberryhawk wrote:Ha ha, love the relaxing music! I must try that when im trading tomorrow, maybe it will help my god awful trading. Thanks for the new vid, its really helpful.
I just wanted to do some simple trades as an example.mulberryhawk wrote:Just a couple of questions in relation to your choice of horses to trade. From what i can remember today in the first example the fav galiotta was heavily supported in the market, With alot of movement. Also in the last example there was a massive swing between the fav carriteau and duke of malfi. Why miss out on these other high volume, high volatility trades to scalp these other selections.
If you replay the video and watch my mouse you can see what I was watching. Bear in mind I have charts up as well and I am watching those for a clue as to how the market is interacting overall.mulberryhawk wrote:And also in the second example, when you opened your trade the market moved about 4-5 ticks away from your closing trade but you chose not to close out. Was this decision to leave your position open down to full market depth?
Half the time it goes in my favour and half the time not. But if there is a big spike in one direction it often retraces, so I may open a new position on the plunge and average out my entry point and wait for it to re-trace a bit. I think there was one instance where I got caught cold yesterday by a large order.mulberryhawk wrote:I have just started trading properly every day (very badly I might add), and I have to say the market seems impossible to predict with the big plunger nudging the market in the direction he wants it to go.
The issue I have with this type of activity is that its very difficult to learn why these large positions are being taken other than to correct the book %. I know its probably asking too much but it would be really interesting to see how you would manage your positions in a market with the boy plunger about
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mulberryhawk
- Posts: 165
- Joined: Thu Oct 29, 2009 12:37 am
Thanks for the reply and insight into some of the decision making process you go through. As always very informative and helpful 