Am I on the right track?

[cookyweb]

Hi All,

I’m working away today so will read properly and digest it all tonight but just wanted to say a massive thank you for the replies!

The good thing about this forum is people don’t seem to get one line replies, everyone goes out of their way and takes time to write great replies and reasoning behind them.

Thanks again the advice is greatly appreciated

Cookyweb

[wearthefoxhat]

Everyone else's post explain things very well. I certainly picked up some points to take on board.

FWIW, I recognised early on I needed some firm guidance on trading generally. Peter Webb's you-tube videos (and some others), helped me initially cut through and clarify, but felt I needed an extra push, so I attended Peter Webbs Masterclass recently, and for me, that has done the trick. (famous last words)

Key areas of improvement;

Discipline
Selectivity
Psychology
Entry/Exit points
Managing the trade
Forming/creating my trading plan(s) on any sport.
328 page "bible" and excellent handouts.
Enjoying the process!!

In 4 weeks or so, have made back the cost of the course and some. This has been mainly achieved by cutting out bad trading habits and fine tuning main areas of profitability. Also plenty of scaleability potential on the trades so can attack the higher liquidity markets when ready.

Peter is running a competition where you could win a 1to1 trading session with him...that would be an amazing opportunity. I would go one step further and find out how much Peter would charge independently for a similar trading session.

[brimson25]

Everyone else's post explain things very well. I certainly picked up some points to take on board.

FWIW, I recognised early on I needed some firm guidance on trading generally. Peter Webb's you-tube videos (and some others), helped me initially cut through and clarify, but felt I needed an extra push, so I attended Peter Webbs Masterclass recently, and for me, that has done the trick. (famous last words)

Key areas of improvement;

Discipline
Selectivity
Psychology
Entry/Exit points
Managing the trade
Forming/creating my trading plan(s) on any sport.
328 page "bible" and excellent handouts.
Enjoying the process!!

In 4 weeks or so, have made back the cost of the course and some. This has been mainly achieved by cutting out bad trading habits and fine tuning main areas of profitability. Also plenty of scaleability potential on the trades so can attack the higher liquidity markets when ready.

Peter is running a competition where you could win a 1to1 trading session with him...that would be an amazing opportunity. I would go one step further and find out how much Peter would charge independently for a similar trading session.

What do you mainly trade now?

[Korattt]

get into good habits with small micro stakes to start off with, not bad habits with large stakes

[wearthefoxhat]

Everyone else's post explain things very well. I certainly picked up some points to take on board.

FWIW, I recognised early on I needed some firm guidance on trading generally. Peter Webb's you-tube videos (and some others), helped me initially cut through and clarify, but felt I needed an extra push, so I attended Peter Webbs Masterclass recently, and for me, that has done the trick. (famous last words)

Key areas of improvement;

Discipline
Selectivity
Psychology
Entry/Exit points
Managing the trade
Forming/creating my trading plan(s) on any sport.
328 page "bible" and excellent handouts.
Enjoying the process!!

In 4 weeks or so, have made back the cost of the course and some. This has been mainly achieved by cutting out bad trading habits and fine tuning main areas of profitability. Also plenty of scaleability potential on the trades so can attack the higher liquidity markets when ready.

Peter is running a competition where you could win a 1to1 trading session with him...that would be an amazing opportunity. I would go one step further and find out how much Peter would charge independently for a similar trading session.

What do you mainly trade now?

Football - Dutching Correct scores (certain games) Have posted up some stuff on it already.

In-Play horse racing (personal preference) using BA's info to help entry point and automation to exit.

Pre-trading on races that have less volatility using PW's info to maximise and set acceptable loss. Key is close out before off time and not let position go In-Play as I have a seperate setup for IP.

When Wimbledon starts will tread carefully, but can see some potential, especially in the womens game(s).

Automation will be important as there is so much choice and opportunity and little time...

[cookyweb]

Interesting stuff, I feel like I now have something to go at.

When people talk about a trading plan, what does that mean? What is a trading plan?

Thank you

[northbound]

When people talk about a trading plan, what does that mean? What is a trading plan?

To me personally it means:

1) Having a reason for entering the trade, for example "I will lay a big steamer if total market volume is still less than £50k". If your condition for entering the trade is not satisfied, just observe the market without getting involved.

2) The amount of money you're prepared to lose in the trade if it goes against you, for example "I will set a stop loss so that my maximum liability is £5".

3) Know that many trades will go against you and will lose you money. It's perfectly fine, as long as you don't chase these losses.

[Korattt]

Interesting stuff, I feel like I now have something to go at.

When people talk about a trading plan, what does that mean? What is a trading plan?

Thank you

I’ve two trading plans, one for steamers which is a totally rigid plan when it’s more than likely (to me obvious) that the price will contract & the other for drifters which is in general the same method with prices going out but not price dependant, if that makes sense?

[cookyweb]

Thanks for those replies, I see what you mean.

Korattt, that makes sense, do you
Just have those 2 trading plans or do you have lots of these for different situations?

[Korattt]

Thanks for those replies, I see what you mean.

Korattt, that makes sense, do you
Just have those 2 trading plans or do you have lots of these for different situations?

just the two, the price can only go up or down (or sideways).. but I don’t do sideways

[mobius]

A little light reading. Only 10,00(0) pages to go.
https://edition.cnn.com/2018/05/04/app- ... index.html
missed a zero