Went in play on the horses and got nailed!
You are still learning at 50
Beer time
Mark
School boy error today
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dzoni-pager
- Posts: 1
- Joined: Sun Mar 11, 2018 7:09 pm
Well Same for me today(Close to 50 )
I learned that i need to pay attention more on Profit and Loss.
I played with all money and lost at all.
Waiting still better time.
I learned that i need to pay attention more on Profit and Loss.
I played with all money and lost at all.
Waiting still better time.
...unlucky Mark - there's no such thing as a risk free bet (unless you're simply past posting playing FFF).
We all take losses from time to time - where possible the key is to minimize your losses and maximize your wins - every day is a new day of learning
We all take losses from time to time - where possible the key is to minimize your losses and maximize your wins - every day is a new day of learning
I was quietly congratulating myself for not going in play any more... when I went in play accidentally... twice.. 
(in reasonably quick succession) Lay'd a horse that won and backed a horse that lost..of course.... 
Learning indeed..I watch the clock now
(in reasonably quick succession) Lay'd a horse that won and backed a horse that lost..of course.... Learning indeed..I watch the clock now
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FrogThimble
- Posts: 124
- Joined: Mon Dec 11, 2017 6:26 pm
This premise of this thread intrigues me... In-play trading is all that I do. Well, I take my initial position a few seconds before the start of the race and then trade it in-play - so it's maybe not pure in-play because I choose my horse to trade just before the off.
I can't make an overall daily profit on pre-off to save my life but I do mostly fine on in-play. I certainly don't see myself as any kind of risk-taker... I think my approach is quite cautious. I wonder if those of us who do in-play and those who do pre-off have differently wired brains to each other?
I can't make an overall daily profit on pre-off to save my life but I do mostly fine on in-play. I certainly don't see myself as any kind of risk-taker... I think my approach is quite cautious. I wonder if those of us who do in-play and those who do pre-off have differently wired brains to each other?
Pre-race traders who let trades go in-play are taking risks that in-play traders are not. Because the trade is not intended for in-play and considered low risk, a relatively larger stake is usually used than if you are trading in-play - much more than the risk intended when the trade was opened. The trade is then allowed to go in-play with a bigger liability than intended simply because the trader doesn't want to close for a loss and without any reason to believe it's to your advantage.FrogThimble wrote: ↑Mon Jun 25, 2018 10:04 pmThis premise of this thread intrigues me... In-play trading is all that I do. Well, I take my initial position a few seconds before the start of the race and then trade it in-play - so it's maybe not pure in-play because I choose my horse to trade just before the off.
I can't make an overall daily profit on pre-off to save my life but I do mostly fine on in-play. I certainly don't see myself as any kind of risk-taker... I think my approach is quite cautious. I wonder if those of us who do in-play and those who do pre-off have differently wired brains to each other?
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spreadbetting
- Posts: 3140
- Joined: Sun Jan 31, 2010 8:06 pm
Why do you take a position pre off if you believe your forte is in play trading? I'm not sure why you say you can't make a profit pre-off and then open your trades pre-off. Surely the opening trade is generally where you'll pick up the initial value, and if not then why open it.FrogThimble wrote: ↑Mon Jun 25, 2018 10:04 pmThis premise of this thread intrigues me... In-play trading is all that I do. Well, I take my initial position a few seconds before the start of the race and then trade it in-play - so it's maybe not pure in-play because I choose my horse to trade just before the off.
I can't make an overall daily profit on pre-off to save my life but I do mostly fine on in-play. I certainly don't see myself as any kind of risk-taker... I think my approach is quite cautious. I wonder if those of us who do in-play and those who do pre-off have differently wired brains to each other?
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FrogThimble
- Posts: 124
- Joined: Mon Dec 11, 2017 6:26 pm
The only reason I say that I can't make a profit pre-off is that I can't make a profit pre-off. I have no science to back that up other than that I've never been able to overall. My skill set just does not include the ability to guess pre-off price movements.spreadbetting wrote: ↑Mon Jun 25, 2018 11:13 pm
Why do you take a position pre off if you believe your forte is in play trading? I'm not sure why you say you can't make a profit pre-off and then open your trades pre-off. Surely the opening trade is generally where you'll pick up the initial value, and if not then why open it.
On the other hand, doing what I am doing at the moment is going pretty well. I choose the horse to trade within the last minute before the off (based on my own extremely simple mathematical formula) and then trade out of my position for profit or loss during the race. I always do Lay to Back as I consider Back to Lay to be too risky - as, obviously, no trade out is possible from an initially backed horse that falls.
I suppose we all have to do what we each finds works for us? So far this is working out more than OK for me. All I know is that I mostly lose money pre-off, I tend to break even overall in pure in-play and I tend to make decent profits with this hybrid open pre-off to trade out in-play approach.
One of the biggest reasons for people failing in sports trading - letting bad trades go 'IP', I used to be one of them
The way I look at it now though, is by asking myself this question -
If I've backed a team for a £250 trade and am faced with a disappointing red of £10, why would I not accept that and move on, as opposed to thinking it will go my way during the match. Before I'd entered that trade, would i be happy having a £250 gamble that the price will go a certain way IP? - NO is the answer!
Sometimes, you just need to step back and look at what you're doing with different eyes
The way I look at it now though, is by asking myself this question -
If I've backed a team for a £250 trade and am faced with a disappointing red of £10, why would I not accept that and move on, as opposed to thinking it will go my way during the match. Before I'd entered that trade, would i be happy having a £250 gamble that the price will go a certain way IP? - NO is the answer!
Sometimes, you just need to step back and look at what you're doing with different eyes
I've only done it a few times in my early days of trading. My problem though, was that even though I knew from the outset that it was a bad bet, I was hoping it would go my way and as the race started I would swear to myself that I will never do it again. The motivation behind the madness was that I was desperate not to blow everything I've gained in the last two days. Needless to say, the end result is that sooner or later you blow everything you've gained in the last two weeks, or more!
The best advice I can give new traders from my experience, is that if you cut your losses in such circumstances, your biggest losses, however painful, will be a distant memory in a weeks time.
The best advice I can give new traders from my experience, is that if you cut your losses in such circumstances, your biggest losses, however painful, will be a distant memory in a weeks time.