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Help, advice and trading in technicolour
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mugsgame
Posts: 1235
Joined: Wed Mar 25, 2009 11:41 pm

Sat Mar 02, 2013 1:25 pm

Ferru123 wrote:Thanks Steve.

If you get a race that is better suited to scalping than swing trading (say, one where the fav is trading at 6.0 and none of the key horses are trending strongly), would you give the race a miss?

BTW, it's interesting to hear you expressing uncertainty in your videos about what the market will do next. I think some people assume that pro traders have some secret knowledge that tells what will happen next (or manipulate the market to make it conform to their will!). And as I am full of uncertainty and conflicting thoughts sometimes, it's reassuring to know that I'm in good company! :lol:

Jeff
Sometimes Jeff, it it so obvious what will happen. Mostly there are so many variables you give it your best guess and then manage that position. If you control your losses and get the best out of the ones you get right it sort of works out.
I am not interested in trading in this style at anything bigger than maybe 4, mostly I like between 1.6 - 3. I find heavy odds on difficult, I'll struggle at the festival, I usually do. But I still love it.

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mugsgame
Posts: 1235
Joined: Wed Mar 25, 2009 11:41 pm

Sat Mar 02, 2013 1:28 pm

to75ne wrote:just stumbled on your blog, superb. dont know how you find the time and motivation but, glad you do. hope it goes well in the future. :)
Cheers :) It does take lots of time. But the focus it gives is of great benefit to me. I have gone though periods of stagnation. This blog has rekindled my creative side. My head is crammed full of new ideas for stuff to share. Problem is the summer and my bike. I have been in hibernation for so long :)

rogerlisa
Posts: 195
Joined: Mon Apr 02, 2012 6:09 pm

Sat Mar 02, 2013 4:29 pm

Mugs
I am going to pull you up on something now. A while back me and you exchanged views. Me being new and you experienced - remember! Why didnt you just say watch my videos and if you can grasp the concept you may make a few bob? The videos are a great insight but I need to watch them a few times for it all to sink in. One thing though put your mouth closer to the mike as I have my pc turned up full and still cant hear you very well. Great job it will really help, the main reason being that it makes it sound complicated (as it really is if you havent done any trading before)where as Peters makes it sound easy and doesnt really show what disasters can happen. Nice one :P

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mugsgame
Posts: 1235
Joined: Wed Mar 25, 2009 11:41 pm

Sat Mar 02, 2013 7:23 pm

rogerlisa wrote:Mugs
I am going to pull you up on something now. A while back me and you exchanged views. Me being new and you experienced - remember! Why didnt you just say watch my videos and if you can grasp the concept you may make a few bob? The videos are a great insight but I need to watch them a few times for it all to sink in. One thing though put your mouth closer to the mike as I have my pc turned up full and still cant hear you very well. Great job it will really help, the main reason being that it makes it sound complicated (as it really is if you havent done any trading before)where as Peters makes it sound easy and doesnt really show what disasters can happen. Nice one :P
Sounds dead loud on mine :)
It is complicated. There are lots of variables going on. Anyone who has tried to crack ladder trading will tell you it isn't easy. I am trying to break it down as much as I can. But trying to give out skills that took years to learn is not easy. Peter makes it sound easy because he is the master. He has a completely different style to me. There isn't just one. way you can make it work. Plus he is way more eloquent than I am. Good luck mate.

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mugsgame
Posts: 1235
Joined: Wed Mar 25, 2009 11:41 pm

Sat Mar 02, 2013 7:23 pm

rogerlisa wrote:Mugs
I am going to pull you up on something now. A while back me and you exchanged views. Me being new and you experienced - remember! Why didnt you just say watch my videos and if you can grasp the concept you may make a few bob? The videos are a great insight but I need to watch them a few times for it all to sink in. One thing though put your mouth closer to the mike as I have my pc turned up full and still cant hear you very well. Great job it will really help, the main reason being that it makes it sound complicated (as it really is if you havent done any trading before)where as Peters makes it sound easy and doesnt really show what disasters can happen. Nice one :P
Sounds dead loud on mine :)
It is complicated. There are lots of variables going on. Anyone who has tried to crack ladder trading will tell you it isn't easy. I am trying to break it down as much as I can. But trying to give out skills that took years to learn is not easy. Peter makes it sound easy because he is the master. He has a completely different style to me. There isn't just one. way you can make it work. Plus he is way more eloquent than I am. Good luck mate.

Ferru123
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

Sat Mar 02, 2013 7:30 pm

Mugsgame -

From the videos of yours I've seen, I get the impression that you always trade with the trend, not against it. Is that correct?

Jeff

User avatar
mugsgame
Posts: 1235
Joined: Wed Mar 25, 2009 11:41 pm

Sat Mar 02, 2013 7:39 pm

Not always, there are trends within trends. In general i suppose I do.
It's more important to form an overall view of the market. The trends fit into that I guess.

Jeff, I never really give it much thought, it's sort of 2nd nature. Almost a habit?

Seymour
Posts: 40
Joined: Sun Aug 12, 2012 6:33 pm

Sat Mar 02, 2013 7:48 pm

Thanks so much Mugsgame. I have learnt more in the last 2 hours watching your videos than I have trading solo over the last 2 months. Most importantly, my belief that pro traders are endowed with 'mystical powers' has been removed. :lol:

convoysur-2
Posts: 1045
Joined: Thu Jan 12, 2012 10:00 am

Mon Apr 07, 2014 9:53 pm

This guy is my old sales manager,
Hes a great man for alot of reasons ,
he possesses a great ability to help people achieve what they want.(legally of course )
Here is a like to a video he just posted ,i think its very very relavent to trading,its only 4 mins long and sure go on.take your eyes off the ladder for 5 mins ,
https://www.youtube.com/watch?v=HVXkBr2 ... e=youtu.be
Marc

PeterLe
Posts: 3313
Joined: Wed Apr 15, 2009 3:19 pm

Tue Apr 08, 2014 12:27 am

Hi Marc
Thanks for posting; I think it is relevant to trading as you say.
That explains why we get so many new traders who post up and say "Ive traded 15 races on the trot and not lost on any"..when you look at their P&L it becomes apparent that they have only been using £2 stakes.
If they were to raise those stakes to £200..the results wouldn't be the same..not because they are doing anything different its just the stake size..it changes your perspective
Last week at Aintree, I was trading and using 4 fig stakes..and felt within my comfort zone.. in between the Aintree races I was trading another course and forget to change the Stake and I dropped £1000 into a lowish liquidity market..(in the same style as I had done at Aintree) . When I realised what I had done, I quickly cancelled it, but I could feel the adrenaline rush!
Having said that, I remember the first time I used £50 stakes and I was on the edge of my seat..I now use twice that sum whilst I am on work conference calls or the phone and think nothing of it..bigger stakes when I am concentrating
I guess its the combination of increased skill set or just getting used to it...maybe they are the same thing..?
Regards
Peter

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