discipline

A place to discuss anything.
trader44
Posts: 102
Joined: Wed Oct 29, 2014 1:28 pm

Wed Sep 13, 2017 1:56 pm

and later going into a phone box dialing 168 to get the racing results. It cost me 90 pence, just to find out that my 50 pence bet had lost..

that made me laugh :D

trader44
Posts: 102
Joined: Wed Oct 29, 2014 1:28 pm

Wed Sep 13, 2017 2:00 pm

heres one for you

will share my first day back trading on Monday to show you how us full timers can still get caught up in it.
this was a regular occurrence in the past but now it might occur once every
3 weeks for a day and its how i manage it .i realise i am quite an excitable
person so i have to manage it carefully when trading .
so its my first day back after 10 days off and and i am buzzing then the thought i should be making much more than i am a day " added a few hundred on " next thing i am blasting music getting way to excited looking forward to trading. i set myself up and can feel the excitement building " think tony montana " Al pacino "from scarface when he has a huge mountain of cocaine on his desk and dipping his face in it..
i start trading first 1/2 hour £100 in front no losing trades "
fook me i was justified in thinking i am the worlds greatest trader "
next hour -£180 behind " i am in the zone of pure excitement trading "
not the best zone for trading
lots of double/treble unjustified clicking going on by 4.30 i have calmed
down and i am £100 behind ,i take a walk and stick to my usual plan
which had obviously fallen under my desk and by 5.30 i walk out
£40 in front " and another lesson i thought i didnt need "
the lesson here is we are all different some people are just steady
by nature ,some excitable characters etc so whichever you are
trading will show you and its how you manage it during your trading :D

trader44
Posts: 102
Joined: Wed Oct 29, 2014 1:28 pm

Wed Sep 13, 2017 2:28 pm

this was all in running trading :D

stueytrader
Posts: 178
Joined: Tue Dec 15, 2015 6:47 pm

Thu Sep 14, 2017 12:36 pm

Thanks T44 - you could have posted that on my post asking for 'tips for improving psychology through behaviours', good stuff! 8-)

stueytrader
Posts: 178
Joined: Tue Dec 15, 2015 6:47 pm

Thu Sep 14, 2017 12:47 pm

so its my first day back after 10 days off

Think that is a key aspect - and to be aware of it.

Seti
Posts: 12
Joined: Wed Aug 02, 2017 2:41 pm

Thu Sep 14, 2017 12:53 pm

I am a pretty new trader. When I started trading the racing pre off I read a lot about the discipline of "Not Going In Play to chase a losing position". It was clear that many inexperiance traders lost entire banks going in play. They simply couldnt discipline themselves to take the red. Thinking about it I was pretty certain that I would struggle with this early on.

Here is the solution that I have now implemented.

I have written a rule that I apply to all races at the start of the day. It simply Greens or Reds 2 seconds before the off time. It has taken a big weight off my mind.

My hope is that as I gain experience I wont need this rule.

User avatar
ShaunWhite
Posts: 1500
Joined: Sat Sep 03, 2016 3:42 am

Thu Sep 14, 2017 1:20 pm

Seti wrote:
Thu Sep 14, 2017 12:53 pm
I am a pretty new trader. When I started trading the racing pre off I read a lot about the discipline of "Not Going In Play to chase a losing position". It was clear that many inexperiance traders lost entire banks going in play. They simply couldnt discipline themselves to take the red. Thinking about it I was pretty certain that I would struggle with this early on.

Here is the solution that I have now implemented.

I have written a rule that I apply to all races at the start of the day. It simply Greens or Reds 2 seconds before the off time. It has taken a big weight off my mind.

My hope is that as I gain experience I wont need this rule.
A nanny bot worked for me too but 2secs before the off sometimes misses out on interesting trading while they're going in or lining up or when there's delays. Mine changes unmatched bets to take sp as I always try to have balancing trades positioned at speculative levels. This also helps insure against internet outages in the last few seconds and is my main reason for having it. It then greens at the off a few times. Sure the price is more volatile in the first few seconds IP, but some will jump up, some will jump down but they'll even out in the long run. That said I have very few occasions when it's needed.

Seti
Posts: 12
Joined: Wed Aug 02, 2017 2:41 pm

Thu Sep 14, 2017 1:28 pm

ShaunWhite wrote:
Thu Sep 14, 2017 1:20 pm
Seti wrote:
Thu Sep 14, 2017 12:53 pm
I am a pretty new trader. When I started trading the racing pre off I read a lot about the discipline of "Not Going In Play to chase a losing position". It was clear that many inexperiance traders lost entire banks going in play. They simply couldnt discipline themselves to take the red. Thinking about it I was pretty certain that I would struggle with this early on.

Here is the solution that I have now implemented.

I have written a rule that I apply to all races at the start of the day. It simply Greens or Reds 2 seconds before the off time. It has taken a big weight off my mind.

My hope is that as I gain experience I wont need this rule.
A nanny bot worked for me too but 2secs before the off sometimes misses out on interesting trading while they're going in or lining up or when there's delays. Mine changes unmatched bets to take sp as I always try to have balancing trades positioned at speculative levels. This also helps insure against internet outages in the last few seconds and is my main reason for having it. It then greens at the off a few times. Sure the price is more volatile in the first few seconds IP, but some will jump up, some will jump down but they'll even out in the long run. That said I have very few occasions when it's needed.
Nanny Bot that is a great description. You are quite right about the time issue. I hadnt thought about taking SP will take a look.

Thanks

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