best piece of advice you have been given

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joop123
Posts: 19
Joined: Wed Nov 11, 2009 5:28 pm

being very new to trading i would be very interested to know what you think the best piece of advice you have been given regards you trading practice.

mine is only concentrate on the favorite, until i am more confident in my trading

Paddy
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to75ne
Posts: 2413
Joined: Wed Apr 22, 2009 5:37 pm

dont go in play at all. while your still new to this, get out at the offical off time red or green.
nachtwacht
Posts: 37
Joined: Tue Oct 27, 2009 6:19 pm

Not that this advice is given to me but it fits your advice....

How about: do not concentrate on the favorite alone because prices interact with eachoter. You have to keep an eye on what all other horses are doing.
Lambretta
Posts: 32
Joined: Thu Oct 29, 2009 11:55 am

This has worked particularly well for football and swing trades - Plan the trade, trade the plan.
PeterLe
Posts: 3715
Joined: Wed Apr 15, 2009 3:19 pm

...slightly off subject...but my grandad gave me the best piece of advice...."Dont eat yellow snow!" (",)
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Jimmy
Posts: 174
Joined: Wed Apr 15, 2009 6:29 pm

I was always told.

"Stay away from slow horse's and fast women".

I have added my bit to the old saying

"Unless your Laying". :lol: :lol:

Cheers

Jimmy
Krzysztof
Posts: 121
Joined: Sat Apr 18, 2009 9:54 pm

One of Pinsticker's advice:

If trade doesn't start moving in the right direction or look like it will just cut it immediately.

And Adam's similar:

Never hesitate too much on a trade - just get out of position and start again.
joop123
Posts: 19
Joined: Wed Nov 11, 2009 5:28 pm

the dont go inplay is now my most useful bit of advice, as i found out to my cost today by letting my bet go in play in the 14.30 at uttox, messed up big style, oh well back to square one (again)

Paddy
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to75ne
Posts: 2413
Joined: Wed Apr 22, 2009 5:37 pm

sorry to hear that. sods bleeding law.
Frosy
Posts: 24
Joined: Fri Nov 20, 2009 8:11 pm

Yeah, mine is don't trade inplay.

I was backing a layng smooth yesterday on a horse when all of a sudden it appears I clicked lay when inplay on a horse (non favorite) and it came through to win, lost £43 smackers as I couldn't get out quick enough and more shocked as to what was happening :o

If I had kept the back bet it would have probably won about £250

Oh well back to square one with NO inplay trading :P

Dave
hamloy
Posts: 2
Joined: Sun Apr 19, 2009 9:59 am

Trade with minimum stakes (£2) while learning. At end of trading compare profit and loss in percentage terms to your bank.
eg trade 10 races with a starting bank of £20. Total profit of £2 over the ten races is actually a 10%profit for the day. Plus when trades go bad and they will. The damage is not so bad.
Dont be over ambitious and stay disciplined.
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GaryCook
Posts: 128
Joined: Sat Jan 27, 2018 6:35 pm

Dont trade for money. Do it for fun. Then if its makes money it's a bonus.
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

GaryCook wrote:
Thu Jun 28, 2018 8:35 am
Dont trade for money. Do it for fun. Then if its makes money it's a bonus.
Probably the worst piece of advice I could imagine. Not sure trying to get your kicks from trading is the way to go, probably lead to all sorts of bad habits or a heart attack :)

How's the trading and the fun going, btw?
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wearthefoxhat
Posts: 3205
Joined: Sun Feb 18, 2018 9:55 am

"Someday chicken, someday feathers" (Sums up the peaks/troughs of trading overall)

If your vegan; "Someday tofu, someday tough luck"
Jukebox
Posts: 1576
Joined: Thu Sep 06, 2012 8:07 pm

If something looks too good to be true it probably is.
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