What videos would you like to see?

Help, advice and trading in technicolour
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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
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Bet Angel
Bet Angel
Posts: 3999
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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Euler
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Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

betfaircoach
Posts: 1
Joined: Mon Oct 04, 2010 12:59 pm

Hi i want to see the correct settings for perfeckt trading on horse races pre game!
What are the best individuell Chart...
Candle...ore the one second remove line chart ,
What is the best free refresh 500 miliseconds ore another..?
I WANT TO SEE THE BEST CORRECT SETTINGS FOR THE BEST TRADING WHAT IS YOUR PESRONAL SETTINGS THE QUESTION IS TO ADMIN.
Thank you
Regards
betfaircoach ;)
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jimrobo
Posts: 1289
Joined: Wed Mar 25, 2009 12:49 pm

there are no correct settings for this!

Even if Euler gave you exactly the settings he used it wouldn't change you into a profitable trader. There is no perfect setup only a setup that you are used to and have experience reading the market through.

The settings Euler uses work for him because he has vast experience in how the market moves using those settings. If he changed his settings tomorrow to something completely different he could adapt his trading and would still be very profitable.

Don;t concentrate on looking for a perfect settings setup because ultimately what works for you is your perfect setup which you need to find and thats not something you can copy from another trader.
Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

Indeed.

And looking for perfection in trading is a fool's errand. I'll settle for something that makes me consistent profits! :)

Jeff
jimrobo wrote:
Don;t concentrate on looking for a perfect settings setup because ultimately what works for you is your perfect setup which you need to find and thats not something you can copy from another trader.
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mctash
Posts: 101
Joined: Wed May 12, 2010 2:11 pm

I agree that there is no such thing as correct settings. A tip I've recently found useful after watching some trading videos linked by a forum member, is to have multiple candlesticks of the same runner open at different time scales. You can then use the larger time frames to add weight to any indicators you might spot on the smaller time scale charts.

Tash
Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

Hi Tash

Is that in order to go in the direction of the longer-term trend?

Jeff
mctash wrote:I agree that there is no such thing as correct settings. A tip I've recently found useful after watching some trading videos linked by a forum member, is to have multiple candlesticks of the same runner open at different time scales. You can then use the larger time frames to add weight to any indicators you might spot on the smaller time scale charts.

Tash
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mctash
Posts: 101
Joined: Wed May 12, 2010 2:11 pm

Hey mate,

I tend to use it as a safety indicator. I'm pretty new to this so mostly concentrate on trying not to lose :) Therefore I will look at say a five second interval candlestick for my short time frame, if anything happens on this scale such as break through resistance then I'll refer to a 15sec candlestick for a more medium term confirmation of that particular indicator. If they both agree that price is moving in a certain direction then it starts to look good. I also run a 30sec-1min candlestick for an even wider perspective. It something that technical analysts do according to those trading videos I watched, so I thought I'd try it. I've only really being doing this charting method for four days but I found my trading has improved.

However, I should point out I'm no expert and there may be no real benefit to this at all :)

Tash
Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

Hi Tash

With the financial markets, there are 2 schools of thought about whether to look at the longer-term trend.

One says that it's a good idea, as it gives your trade a higher probability of success. The other says that, if you can jump onto a new trend, then you can ride it further than if you leave your entry till the longer-term timeframe is in agreement.

With Betfair, I personally prefer to just look at one timeframe, although I should stress that I'm not a pro either! :)

Jeff
mctash wrote:Hey mate,

I tend to use it as a safety indicator. I'm pretty new to this so mostly concentrate on trying not to lose :) Therefore I will look at say a five second interval candlestick for my short time frame, if anything happens on this scale such as break through resistance then I'll refer to a 15sec candlestick for a more medium term confirmation of that particular indicator. If they both agree that price is moving in a certain direction then it starts to look good. I also run a 30sec-1min candlestick for an even wider perspective. It something that technical analysts do according to those trading videos I watched, so I thought I'd try it. I've only really being doing this charting method for four days but I found my trading has improved.

However, I should point out I'm no expert and there may be no real benefit to this at all :)

Tash
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mctash
Posts: 101
Joined: Wed May 12, 2010 2:11 pm

Ah yes. As with most things trading there are many schools of thought. I suppose that each can be effective if used in the correct manner. I find it hard to know what strategies or techniques will cross over from the financial markets to the sports markets.

The reason I have found it useful is because I'm not at a stage where I'm trying to maximize my profit levels. I'm slowly getting to grips with the market behaviour and taking a tick here or maybe a small trend there. This chart methodology gives me (however foolishly) a sense of assurance that even though in the short term it may move against me, in all likely hood my trade should be successful. Obviously the market shall do as the market pleases but as far as I can tell anything the tips the scales just slightly in your favour can help.

I must hurt a lot to lose big money in bad trades, but I think those of us who are starting out who do two or three hours low stakes trading still feel the pain of losing their entire session profits in one silly manoeuvre(even if it is just relatively small amounts). I'm willing to try most things that serve to reduce the frequency of these mini disasters.

Tash
Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

Hi Tash

I agree about the importance of protecting your bank.

That said, many traders make the psychological mistake of closing their trades for a tiny profit, rather than letting their profits run. Studies have shown that most people are more motivated to avoid losing money than they are to gain money. Basically, the pain of losing £10 outweighs the pleasure of making £10. As a result, they'll close out for 1 point even when the market is saying 'Hey, wait about, I'm probably going to give you a few more points if you just sit tight!'. :) And they'll hold onto losing positions, in the hope that the market will turn around (in my experience, it usually doesn't!).

Jeff
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