What videos would you like to see?

Help, advice and trading in technicolour
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Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

How about a video showing your trades on a typical day? That way, we would be able to see how you approach a variety of situations.

Jeff
Bet Angel wrote:Specific use of the software? Features?

We realise that videos are a useful resource. We are interested in what you are interested in seeing, what you find useful and what you do not.
ba1000
Posts: 100
Joined: Fri Oct 30, 2009 6:02 pm

Hi BetAngel

I would like to see how you take losses. I was once told:

"making money is easy its holding onto it which is the difficult part"

The web is full of people showing profits galore - the real issue is how to define and take losses in my particular instance.

Thanks
chevychase80
Posts: 8
Joined: Sun Dec 06, 2009 3:55 pm

Volume spikes seem to be part of my everyday trading now, so could we see a video where you identify a market that has been spiking and show how best to limit losses or maybe even profit from them :shock: ?
Bet Angel
Bet Angel
Bet Angel
Posts: 3999
Joined: Tue Apr 14, 2009 3:47 pm

Predicting them is tough but a quick tactic to deal with them is to always have open orders well out of the money, i.e. quite a few ticks away, so if one does occur you are likely to get a very favourable fill. You will have to make a quick decision once filled however.
chevychase80
Posts: 8
Joined: Sun Dec 06, 2009 3:55 pm

Thanks for the tip :D
mister man
Posts: 363
Joined: Tue Jul 27, 2010 2:10 pm

I would like to see, the software/features usage demonstrated in redeeming a position gone wrong.

Trading isnt a bed of roses, and we all at some point have to put into play a "plan b"...

I know its not the usual buy betangel and make tons of cash this way video, but for traders it would be a realistic scenario thats not discussed enough.
Bet Angel
Bet Angel
Bet Angel
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Joined: Tue Apr 14, 2009 3:47 pm

mister man wrote:I would like to see, the software/features usage demonstrated in redeeming a position gone wrong.
I don't believe in chasing, so you will see few videos or advice to do so. I will have a trade with potenial and green or red up at the end of it as I aim to be net positive over the course of many events, or I may hedge it in another market. I don't go into 'recovery' mode at the point of a loss. It may be worth discussing if others try and recover a position after a loss to see if people have appropiate strategies.
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mctash
Posts: 101
Joined: Wed May 12, 2010 2:11 pm

Hey Bet Angel,

So for example, if you got hit by a volume spike and it resulted in a loss in that particular race would you then stop trading that race?

I only ask because when it happens to me I seem to lose 3 * my average race profit desperately trying to recover.

I'm starting to think as soon as it happens I should take the beating and stop trading that race rather than risk even more redness. Then enjoy the breather it gives me and prepare for the next race.

Tash
Bet Angel
Bet Angel
Bet Angel
Posts: 3999
Joined: Tue Apr 14, 2009 3:47 pm

Nope, the more you trade a horse race pre off the more likely you are to get positive. I can only talk genearally as everybody has a different style and approach to risk.

But say, for example, I am scalping a race and I am at a loss I don't give up. I keep going till I want to exit. If I am at a profit I don't give up either. I just try and get as many trades through as possible in the safest manner. Just because one trade goes wrong I don't stop. Same for races through the day, I don't stop at a profit or a loss. If you are net expectancy positive there is no reason to stop at any arbitrary level. I'd nominate people stopping at a loss as one of the major reasons people don't make money in many different types of markets.

In the example above I just said I would stop in this situation on footy. That is because I can't undo a goal, But I can factor that into the trade.
sportinwest
Posts: 37
Joined: Thu Apr 22, 2010 10:40 pm

I agree with most of the other users. It would be great to se peter trade a hole day, while he explane why he open a trade - and why and where he close it.
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mctash
Posts: 101
Joined: Wed May 12, 2010 2:11 pm

Ah now it makes sense, I missed the footy bit.

Id like to be able to keep going after a big volume hit also, but I think I need to relax a bit more. It really undoes my confidence and I make stupid trades I wouldn't normally attempt.

I guess it all comes back to discipline.

Tash
Bet Angel
Bet Angel
Bet Angel
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Joined: Tue Apr 14, 2009 3:47 pm

I've been preparing a video to illustrate the point on how losses affect peoples ability. Hopefully I will get round to editing and uploading it at some point. When people hear me explain it on the course, people suddenly see some light but I bet you a lot of people still find it difficult to do. People find it really tough to accept a mistake / error but everybody makes them.

I think it's even tougher when the market jumps against you unexpectadly, because that wasn't even your fault!

Some of it can depend on your trading style though, if there is only 30 secs to the off you probably don't have enough time to do anything about it.
Aqueria
Posts: 5
Joined: Thu May 06, 2010 1:51 pm

Definitely Bookmaking explained further… after a few months of using Betangle I still find that I’m actually predicting outcomes, rather than trading…
Betangle is definitely a critical tool and brings into the betting equation a substantial level of risk management control.
However, I cannot help but think that at the end of the day, the Bookmaker always wins!
So why no utilize the exchange and Betangle more from that perspective?
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

Aqueria wrote:Definitely Bookmaking explained further… after a few months of using Betangle I still find that I’m actually predicting outcomes, rather than trading…
Betangle is definitely a critical tool and brings into the betting equation a substantial level of risk management control.
However, I cannot help but think that at the end of the day, the Bookmaker always wins!
So why no utilize the exchange and Betangle more from that perspective?

Bookmakers don't always win :shock: all depends on their liabilities on each individual book, plenty of bookmakers will happily stand liabilities because they know they're offering under true odds, and in the long run they'll come out on top.

Obviously different bookies have different strategies but the obvious advantage they hold is being able to lay at SP , 120% books etc which gives a lot of room for error in your pricing. With 101% books on the exchanges you'll find it hell of a lot harder to get a fully balanced book , throw in the fact any non runner over 2.5% is a loss for you and it's not as easy as it first seems
freddy
Posts: 1132
Joined: Sun Aug 01, 2010 8:22 pm

I would like a video of you putting some very large volumes of money through the market.

showing some big greens 400-500 quid like Mr heathcote
As obviosly there are some other techniques entering and exiting trades at this level of stakes.
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