Hi people!
im consistantly earning 40% of my stake a day. Is it now time to up my stakes? (they are currently £2 stakes).
By uping the stakes to you meet any more problems other than the risk of lose more money? i mean for example by putting a stake of 500 into the market does it effect it in a different way than a £2 stake would for instants?
Thanks in advance guys!
taking the plunge!!
Different traders will have different staking plans & tactics
This is mine....
If I'm operating with a £3000 bank, I analyse my trade on how confident I am with my position.
I then calculate my stakes with £3 denomination tick sizes after greening. £3 if I'm dipping my toe in, rising to £6, £9 or £12 when I'm dead confident
Therefore, if i'm backing a 1.50 selection and I'm absolutely certain it's going to shorten, I'll lump £1800 on & try to get the maximum ticks I can
The reason this system has worked for me is because my losers never disappear over the hills. I'm totally in control of my profits, but more importantly I'm totally in control of my losers - If my £12 certainty gives me 3 ticks (£36 profit), I don't beat myself up if my £3 tick went against me by 5 ticks. This mentality stopped me from ever letting a disappointing trade go 'in play' because I know I will record a profit at the end of the day.
My system would be much easier if BA allowed tick sizes on global settings to incorporate ticks after greening. It's no big deal because I'm pretty quick with the maths or a calculator, but it would be useful on occasions
Like I say we are all different & the likes of Peter Webb or Andy Fuller would probably disagree with my strategy.
I guess we all need to find what works for us
This is mine....
If I'm operating with a £3000 bank, I analyse my trade on how confident I am with my position.
I then calculate my stakes with £3 denomination tick sizes after greening. £3 if I'm dipping my toe in, rising to £6, £9 or £12 when I'm dead confident
Therefore, if i'm backing a 1.50 selection and I'm absolutely certain it's going to shorten, I'll lump £1800 on & try to get the maximum ticks I can
The reason this system has worked for me is because my losers never disappear over the hills. I'm totally in control of my profits, but more importantly I'm totally in control of my losers - If my £12 certainty gives me 3 ticks (£36 profit), I don't beat myself up if my £3 tick went against me by 5 ticks. This mentality stopped me from ever letting a disappointing trade go 'in play' because I know I will record a profit at the end of the day.
My system would be much easier if BA allowed tick sizes on global settings to incorporate ticks after greening. It's no big deal because I'm pretty quick with the maths or a calculator, but it would be useful on occasions
Like I say we are all different & the likes of Peter Webb or Andy Fuller would probably disagree with my strategy.
I guess we all need to find what works for us