Bet Angel for newbies / Getting started : Appears simple but is devilishly difficult.

We were all new to Bet Angel once. Ask any question you like here and fellow forum members promise not to laugh. Betfair trading made simple.
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Kai
Posts: 298
Joined: Tue Jan 20, 2015 12:21 pm
Location: Croatia

Sat Dec 12, 2015 5:39 pm

Sorry to hear that Lammtarra, I know how easy it is to get fed up with everything when things are not going your way. Maybe I was too harsh at times but learning how to trade nowadays is extremely hard, despite some excellent teachers and information out there it's nowhere near as "easy" as it was many years ago.

I imagine this thread will still be useful to a lot of newbies because it contains a lot of good advice. Good luck with everything and don't it let it get you down too much.

marko236
Posts: 718
Joined: Fri Jul 12, 2013 11:54 am

Sat Dec 12, 2015 7:53 pm

Sorry to hear it didn't work out this time Lammtarra, i think i said in this thread that i nearly gave this up twice both times due to the same mistakes you have made, from what i see you only lost a few hundred quid in the time you have been trading which is good there will be people that have blown a fortune.

It's been an interesting thread hope it continues next year :)

scottydog
Posts: 352
Joined: Wed Oct 07, 2015 11:07 am

Sat Dec 12, 2015 9:05 pm

I hope it works out for you. Been reading this thread quite a lot and you clearly have a lot of dedication to trading and a drive to succeed. If you come back to it, I wish you the best.
You have the skills, you have the knowledge. Tell yourself that everyday.
Positive thinking. When you hit a loss tell yourself. ITS OK because I cannot win every trade, keep that running through your mind. Its ok to lose. It ok to be wrong.
If you want to trade that badly and you want the success you have to make sacrifices. Its not your trading its the way you think. Something in your life has to change for it to fix your trading. I don't know what that is but I believe that is how its going to fix your trading. If you want it that bad. Get it. Look at yourself, be honest to yourself.

A few years back my personal life was similar to the way of your thinking.
I don't drink alcohol. I don't have drink problem and I never have. I don't drink because I am on a long term plan. I dont have time in my life to have liabilities. Drinking is a liability. I have drunk a drop in 2 years in january. I have an extremely busy life, drink is a liability to me. I have a number of no nos in my life but that is just until I have reached my goal.

Now I am not suggesting for you to stop drinking. I am suggesting if you want this trading to work. be honest to yourself and change your liabilities more importantly remove them and parts of your mind that are weak. Trading to some will be very easy and to others its very hard.
Its hard for you. If it hasn't worked before why do you expect it to work in the future? Something has to change. Find out what that is. Study that problem as long as you have trading. If there is one small problem with your trading. Spend every spare minute studying, asking, thinking, reading. What ever it takes.

Dont let anyone tell you you cant do anything either. They are not you. You can do and be whatever you want to be. But for some its easier then it is for others.

I really wish you the best of luck.
Study, learn, learn, keep learning, learn about yourself. never give up and become an expert in every aspect you want to achieve in.

Lammtarra
Posts: 74
Joined: Sat Jun 29, 2013 12:16 pm

Mon Dec 14, 2015 8:53 am

Hi everyone,

Just a quick note to thank you all for your (as usual) words of support and advice.

You really are a good bunch and that is partly what pissed me off the most, my failure to deliver because I know many of you would be pleased, almost proud that I made it. That day will have to wait unfortunately.....

I thought Letiss's advice was good and attempted it only to be told in no uncertain terms, F*** OFF, what I expected really but you don't get unless you ask :lol:

Scottydog, I like that way of thinking and the "progress" I had made was along those lines because I accepted loads of red screens, they're not a disaster, they're not even a problem, just keep cool and relax etc etc etc

This method works well until that 1 millisecond when I freeze (no idea why if I know not to let losses get out of control?) in an instant, I'm in a tailspin and then game over...

For my sins, I NEVER give up on anything and I have a plan for next year, this thread will carry on after I've had a bit of a break.

Anyway, thanks again and have a good one.......

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LeTiss
Posts: 4237
Joined: Fri May 08, 2009 6:04 pm

Mon Dec 14, 2015 9:20 am

All the best to ya, have a good christmas!

The one final thing I'd say to you, is your downfall is shared by many.

I know 3 people who have failed at this game, even though they have impressive degrees and have a good career. I was just a normal bloke who completed my 'A' levels, and then thought I can't be fucked with education anymore, so got a job. It happened to be with Ladbrokes though, so that was a great grounding for trading. However, I left after 5 years and ended up working in Sales, before redundancy gave me the time and financial pay off to try this full-time instead of evenings and weekends.

The 3 guys who failed all look at me with consternation and jealousy - they can't believe I've done this for a living for over 7 years. The thing I've learned Lammtarra is that reading markets, studying graphs and trawling through statistics only amounts to a small part of this job! I have huge interest in the psychology of trading, because IMO that determines who will succeed at this game. The line between trading and gambling is thin and my 3 mates cannot separate the two, especially Andy who's a hopeless case, despite having a nice job with HSBC

The game's not necessarily over for you, but you need to re-wire your brain in order to succeed and I suggest reading some of the psychology related books that are often related to on here before returning.

Good luck and good health

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Dallas
Posts: 8785
Joined: Sun Aug 09, 2015 10:57 pm

Mon Dec 14, 2015 11:06 am

LeTiss has some very good points there, the psychology aspect is probably the most under estimated parts of the whole trading jigsaw and often the most over looked when people set out to learn and master this game.

Its clear to see from many of your posts that this is the part that's holding you back and what you need to conquer in order to be able to move forward, if you go back a few pages to where I suggested reading some books on this and check out that link for some suggestions and do as much research on this subject as possible.

The one good thing about learning and understanding this part of the trading jigsaw is most of it can be done while away from the actual markets so if you plan on returning next year then i would use the time in between and focus on this with as much bedtime reading and learning as possible (Not just the type of bedtime activity LeTiss endorses ;) ) and if you can come back not only fresh and full of enthusiasm but with a completely changed mindset and a brain re-wired towards trading then next time you'll already be a few steps ahead and have every chance of continuing to push forward.

Good luck with it all and enjoy your time away

Grinderman
Posts: 20
Joined: Sun Mar 08, 2015 2:44 pm

Mon Dec 14, 2015 11:21 am

On psychology. I've been trading for 13 years, full time for the last 5 and have made a profit every year. This year was my best to date. By early September I had already beaten 2014's total and was on a roll. Then my father passed away. Hit me very hard. Since then, 2 losing months. I am just starting to get my mojo back and am in profit for December. If your head is not in the right place, you will always struggle.

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Black Ice
Posts: 183
Joined: Thu Nov 06, 2014 12:35 pm

Mon Dec 14, 2015 8:49 pm

Hi Lammtarra,
Have been following your travails with interest, largely because the advice from Dallas, Le Tiss etc is so good and i have learnt so much from it. Sorry things haven't worked out for you...but perhaps you should also take this into account. Trading isn't for everyone- there are plenty of other things that you can strive to be good at. As a divorced man i feel able to give you this advice, (Nothing to do with being a 'head-banger' gambler)..but i have punted all my life being in racing...and i know well how a loss affects ones mood for some considerable time. I can't imagine that you are a bundle of fun for your wife when you get home after a day in your shop having had a bad day trading. I would bet that you are grumpy with your thoughts on your trading rather than her or anything else. Over time this will definitely affect your relationship i assure you.
Perhaps you ought to consider what is more important to you...your trading...or your marriage? Especially if you have children. Divorce is a very painful and messy business i can assure you and it is 60/70% of women who initiate a divorce. Please don't think I'm lecturing or moralising..I'm just speaking from experience from someone who's been there...and survived...but it is very unpleasant.
Give it some thought over your Christmas break..and good luck whatever you decide.
Black Ice

Lammtarra
Posts: 74
Joined: Sat Jun 29, 2013 12:16 pm

Tue Dec 15, 2015 1:29 pm

Thanks again everyone.

In other areas of life, I have learnt how powerfull the mind is. It is your greatest ally, your greatest weapon but if allowed to run away with you, your biggest liability so I can fully understand how the mindset really is crucial.

I found when I traded that if I was in a rush or thinking of things at work, I would lose almost everytime.

The good thing is, I don't need to be as intelligent as a nuclear physicist so succeed at this, I just need to think differently, that's it.

My mission now Dallas, is to get on with some books. I MUST MAKE AN EFFORT WITH THIS OVER CHRISTMAS.

Black Ice, I feel sorry for my missus because of the way I am sometimes and when I trace it all back, it all stems from not trading, but loss chasing, that is the route of all evil as far as I'm concerned.

It is the most important thing really that I overlook which is wrong.

Anyway thanks again and see you next year.....

convoysur-2
Posts: 1062
Joined: Thu Jan 12, 2012 10:00 am

Tue Dec 15, 2015 4:31 pm

LAMTARRA
i suffered the same desiese.ive blown more banks than i care to think about,thousands and thousands ,this man sums up our loss chasing mindset in 5 mins 8 seconds.
i got my head right ,,but it took way way too long.
Marc
https://www.youtube.com/watch?v=gYLyRwStCxA

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