The going in-play problem. Yes, another thread about it.

[LeTiss]

I have no idea how many times I've posted my own quote on the BA Forum, but I'm gonna do it one last time. The reason I keep posting it, is because it's the one thing which trips people up again and again - "The difference between a successful trader and a bankrput one, is what they do when face with a red screen"

I'd love to never post that again here, but I fear it won't be the last, as having an aversion to losses is what kills many traders. You can study graphs until you're blue in the face, but everybody occasionally loses, even PW. If you can't accept that, if you can't 'red up' and move on, then you're in big trouble

[spreadbetting]

People love to look for scapegoats to hide their failings, in play is just a convenient one for trading.

[ShaunWhite]

People love to look for scapegoats to hide their failings, in play is just a convenient one for trading.

+1
Going in-play isn't the problem it's the consequence of a problem.
Anyone can take the small day to day reds, it's the unexpected big ones that freak people out and do unplanned things.

[RicHep365]

People love to look for scapegoats to hide their failings, in play is just a convenient one for trading.

+1
Going in-play isn't the problem it's the consequence of a problem.
Anyone can take the small day to day reds, it's the unexpected big ones that freak people out and do unplanned things.

100%, when I've let it go inplay it's because I've f*cked up in an epic manner, doubled down on a losing position that just continues going against me and compounds the misery, then let it go inplay to try and claw it back.

I have an automatic green up at 10 secs before the off at the moment, although if a race is delayed a while I'll turn it off.

[gutuami]

watch it from minute 10: https://youtu.be/DUd8XA-5HEk?t=10m20s

[trader44]

" when I was making around £100 a day."

if you were doing 5 days a week , i really think you dont appreciate that its actually £500 real pounds per week, try getting a job for that after tax. i couldnt agree more with le tiss. i

[DLB999]

if you were doing 5 days a week , i really think you dont appreciate that its actually £500 real pounds per week, try getting a job for that after tax. i couldnt agree more with le tiss. i

No, it wasn't everyday because I had to work. It was usually my Saturdays and Sundays, so blowing banks was also about wasted free time which is possibly worse. I actually earn around this amount for me current job right now. Not that I enjoy it.

Found some interesting replys here, I liked the video too gutuami. After a year, I think I just have to accept what state I go into after losing. I have to automate the closing out after a certain % loss. If I cant change the habit after a year than its not gonna change anytime soon. I feel its the only way to go.

[harsh]

My Recent experience.
Couple of weeks ago,I met a person after a long while, whom i know, from my childhood. He is trading cricket from last 13 years or so . He told his story that how he became a bookie from a punter. then became a big bookie from a local bookie and How he lost everything. and I was excited when I told him that I am trading cricket too. He just only said 'okay'.

He is still trading cricket everyday but with small bank he has left. I sat with him, watching him trading on phone. He won in 6 out of 9 matches. I told myself 'you gotta believe on someone's 13 years experience man'. and I asked him for help and he said 'okay'. So I put aside 10% of my bank,just to trade according to his advise. I have traded 22 matches according to him. I did what he said. I won big (which I never won before) and I lost big. After trading 22 matches, Today I am Breakeven. I can feel gambling in his trading style. I earned a lots of confidence thou. Money management is a big key to be profitable.

[spreadbetting]

After a year, I think I just have to accept what state I go into after losing. I have to automate the closing out after a certain % loss. If I cant change the habit after a year than its not gonna change anytime soon. I feel its the only way to go.

I stopped smoking after a 30 year habit and haven't had one since around 5 years ago. You'd be surprised at how quickly you can reprogram your brain if you really want to do something. I just decided to go cold turkey and after a week of nicotine withdrawal it was surprisingly easy to quit. The hardest part was actually just deciding to do it.

[DLB999]

Deposited a very small bank to get going again, I managed to last a couple of days without going in play. I thought I had got it down. Clearly not, picture attached of what happened today. The big red is the inplay loss, then I got nailed by a grey hound race, that is a different matter though as the market suspended then went in play.

How long shall i keep trying before banning myself from all exchanges? Serious question here.

[spreadbetting]

First thing you need to realise is that going In-Play is not the problem, the problem is you can't seem to close out once your market has gone red so you're hanging in hoping things will turn then blaming in-play.

How many trades do you usually scratch or red out?

[Dallas]

Deposited a very small bank to get going again, I managed to last a couple of days without going in play. I thought I had got it down. Clearly not, picture attached of what happened today. The big red is the inplay loss, then I got nailed by a grey hound race, that is a different matter though as the market suspended then went in play.

How long shall i keep trying before banning myself from all exchanges? Serious question here.

Approx how much was your loss at the time you should of greened up / market went in-play?

[DLB999]

Scratch quite often, towards the end of the day I had decided to up my stakes, things where ok, than suddenly I found myself about -£4.50ish. It happened very quickly and there were seconds to go before it went in play.

I should have just stuck to the original £2/5 stakes I was using I guess. This p/l is pretty much how most of my trading days go. Hardly any loses and the majority of green. I dont even know what to say really.

Spreadbetting, you're right.

[spreadbetting]

As soon as you see newer traders with screenshots of all winning markets you instinctively know they're usually overstretching themselves to keep that 100% green record. So many will take unneccessary risks to ensure they have a winning market and because they usually take risks at higher odds they usually go in their favour and it reinforces that risk taking mentality until they inevitably get caught out. I know we all trade differently but 100% green rates are just unacheivable, think my strike rate is around 75%

[DLB999]

Well this one shot is from yesterday. I had way more loses and they were heavier, but I didnt go in play. I was more swing trading yesterday, where today I just stuck to scalping. Just once again today I lost my mind.