Is this just part of the learning?

The sport of kings.
cookyweb
Posts: 70
Joined: Sun Apr 29, 2018 5:00 pm

Hi Bog,

That’s soooo hard to do, but it’s something I’ve heard before and read on the forum.

I’m gonna be honest I struggle with it, but I’ve learned so much from you guys I’m going to turn my balance off the display today and just try to trade race on race from zero as you said.

Thanks everyone for the advice, every time I’ve posted I’ve had brilliant advice and really appreciate it

Cookyweb
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ruthlessimon
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Joined: Wed Mar 23, 2016 3:54 pm

cookyweb wrote:
Sun Oct 21, 2018 12:34 pm
Hi Bog,

That’s soooo hard to do, but it’s something I’ve heard before and read on the forum.
I implore you to track your trades thoroughly

For months I used to painstakingly trade this manually, only now have I finally managed to quantify it - & excel bluntly says: - no wonder you struggled, it's not really an edge. It's not quite random, but it's not quite profitable either.

That's a nightmare to pick up unless you track your trades religiously (which is very very hard to do trading manually)
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ShaunWhite
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cookyweb wrote:
Sun Oct 21, 2018 12:34 pm
I’m going to turn my balance off the display today and just try to trade race on race from zero as you said.
If you really want to forget the money and trade by just feeling the force, try turning off the P&L column on your ladder too.
JTEDL
Posts: 536
Joined: Wed Aug 23, 2017 2:21 pm

Trading using 'the force' haha :D is this part of the next update 1.52, along with video of Peter dressed up as yoda?
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Bog
Posts: 190
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Ruthlessimon, how does it help tracking your trades after every race or knowing how much you are up? I find it as an distraction, it's just short term noise.

I don't track anything, I don't care how much I'm up/down in a day, how many races I won, percentages etc. I just trade every race from zero, knowing if I respect the rules all the time I will be fine! Maybe once a day I verify what is the bankroll, most of the time I verify once a week.

I did these changes because I had problems with accepting losses and chasing losses. My results improved.
ShaunWhite wrote:
Mon Oct 22, 2018 7:53 pm

If you really want to forget the money and trade by just feeling the force, try turning off the P&L column on your ladder too.
I don't know if you where serious or not, but I do just that hahha :mrgreen: I don't have p & l column.
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ruthlessimon
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Bog wrote:
Mon Oct 22, 2018 8:07 pm
Ruthlessimon, how does it help tracking your trades after every race or knowing how much you are up? I find it as an distraction, it's just short term noise.

I don't track anything, I don't care how much I'm up/down in a day, how many races I won, percentages etc. I just trade every race from zero, knowing if I respect the rules all the time I will be fine! Maybe once a day I verify what is the bankroll, most of the time I verify once a week.

I did these changes because I had problems with accepting losses and chasing losses. My results improved.
I'm not bothered about the short term either. The graph above was taken over a 3mth span. But I would've preferred to prove this trend of stagnation much earlier!

There's nothing wrong with your approach (if you're happy with your growth). But I always knew aspects of my trading were heinously inefficient (I absolutely believe, like gold, edges have a fineness component). Hence why I've become/became pretty focal, in a couple of data related threads - & so anti psychology. I see the benefits, but I prefer working on edge - learning from those better than me in that department

The problem I had (& kinda still do) - I actually really enjoy trading manually. But it's a "barrage of ideas", some purely quantitative, some purely qualitative. Without keeping check of each trade, it's very hard to see what's working longterm (especially qualitative). Because the p&l alone is very unreliable for a dodgy manual trader (i.e. mixing non-edges, with real edges - then calling everything semi-rosy under the umbrella of "discretion" - then just working on psychology to improve). It never sat well with me that approach.

What I'm doing atm, is an "early (although feels like a never ending ;) ) spring clean" - stripping back everything I can; build a much stronger quantitative base. Knowing that when I trade, I'm defo trading something that works - & could prove why, if pushed. Which currently I can only do on a hand-full of trades
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napshnap
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napshnap wrote:
Fri Oct 19, 2018 4:07 pm
It can be variance, but it also can be that your strategy doesn't fit certain days of the week, daytime, types of race, venues and etcetera. I have to be very picky to make my employ strategy profitable.
Damn you autocorrector! Damn you!
Should be INPLAY, of course.
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napshnap
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Bog wrote:
Mon Oct 22, 2018 8:07 pm
Ruthlessimon, how does it help tracking your trades after every race or knowing how much you are up? I find it as an distraction, it's just short term noise.

I don't track anything, I don't care how much I'm up/down in a day, how many races I won, percentages etc. I just trade every race from zero, knowing if I respect the rules all the time I will be fine! Maybe once a day I verify what is the bankroll, most of the time I verify once a week.

I did these changes because I had problems with accepting losses and chasing losses. My results improved.
ShaunWhite wrote:
Mon Oct 22, 2018 7:53 pm

If you really want to forget the money and trade by just feeling the force, try turning off the P&L column on your ladder too.
I don't know if you where serious or not, but I do just that hahha :mrgreen: I don't have p & l column.
But you may constantly suck at certain venues or race types. How do you know if you don't track anything?
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ShaunWhite
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Bog wrote:
Sat Oct 20, 2018 6:59 pm

Hi. Do you check your p & l often, after every race?

We need to think long term, in my opinion it's not important how many races you won in a day.

For me checking p & l too often it's not a good habit, you will put pressure on yourself to produce positive results and after a bad trade, if you are not prepared, you can lose control and start chasing losses.

Every race it's different, don't expect nothing from it, just trade how you normally trade and move on to the next one. Start from zero every race, don't bring your past results into the next race.
There's nothing inherently wrong with updating your results at the end of every race. IF you are adding it to the chart of your ytd figures, not your daily figures. In fact I'd go as far as to say that entering your freak £100 loss into the annual stats and seeing what a small impact it has can help to remove the drama. You can't just erase the past but you can put it into context of the bigger picture.
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