When / How to accept a loss

[dafyddth]

Hello,

Just getting into trading after a few years of matched betting, and starting off with scalping horse races with very low £2 stakes to get the hang of it.

Most of my trades work out, but those that don't always end up costing more - usually because I've let them carry on with the hope that direction changes back in my favour, and when it doesn't, I usually end up keeping the bets in-play hoping that they get matched - often they do, but that's not nearly enough profit to balance out those that don't.

So my question is, at what point and what circumstances would make you think that a trade has got away, and that you should cut your losses and trade out at a loss?

Thanks

[Emmson]

I still struggle with this myself and I'm quite experienced now. Reading these 3 threads may help, postings by JollyGreen throughout this forum are always noteworthy. Many people have said much the same. ShaunWhite in the last link has good advice.

viewtopic.php?f=5&t=10351&p=86853&hilit ... you#p86853

viewtopic.php?f=5&t=437&hilit=when+pric ... u&start=10

viewtopic.php?t=15302

[dafyddth]

Cheers for that Emmson - will gve them a read