Trading Horse racing : New Trader trying to Stop Going In-Play

The sport of kings.
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eightbo
Posts: 898
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Location: Bristol, England, UK
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Mon Mar 04, 2019 2:45 pm

What are you talking about lol.

£100 back @ 8.0.
Price spikes out to 10.0
exit 10.5
New bank £76.20

£76.2 back @ 4.3
Another moderate spike against you
exit @ 5.0
New bank £65.53

That's not even that uncommon, massive uphill battle from there, and still liable to a similar hit.
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Last edited by eightbo on Mon Mar 04, 2019 2:47 pm, edited 1 time in total.

invisiblelayer
Posts: 161
Joined: Fri Sep 10, 2010 7:08 pm

Mon Mar 04, 2019 2:47 pm

Wouldn't even bother with putting even a tenner in if mixing boozing and gambling.

Going inplay is just like a position taking gambler chasing a loss, can't face a loss so think f@ck it. Nobody can help with that just yourself.

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eightbo
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Location: Bristol, England, UK
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Mon Mar 04, 2019 3:29 pm

invisiblelayer wrote:
Mon Mar 04, 2019 2:47 pm
Wouldn't even bother with putting even a tenner in if mixing boozing and gambling.
◘.png

Why else would spoons offer free wifi?
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LeTiss
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Mon Mar 04, 2019 4:21 pm

I'm afraid you have shown the traits that kill traders more than any other reason -

In my experience, traders don't mess up because they can't read graphs, or because the market has moved in an unexpected way......your cat has a 50% chance of predicting whether a selection will come in or go out - the biggest reason for failure is a lack of discipline, whether that be staking levels, or accepting losses etc

I've been there with going IP, many have, as it's been discussed here endlessly. Some have overcome the urge, others haven't. You simply need to find a way QUICKLY, or you'll have no money left to play with

stueytrader
Posts: 425
Joined: Tue Dec 15, 2015 6:47 pm

Tue Mar 05, 2019 6:13 pm

Just to add a slightly different perspective.

I learned that actually leaving an element of position taking (betting) was best for me eventually. I don't trade for level numbers all the time, because that doesn't suit me and my style of trading. When I traded to always 'flat trade' it gave me bad habits, wanting to risk more and overstake, betting when I shouldn't be doing so.

My solution was allow an element of judgement in all my traded positions - if I fancy a selection to win or lose I will make the numbers balance appropriate to that (while still looking to profit in any case).

Not everyone can naturally move to a flat trading 'accountant' style IMO, and if it doesn't suit you, and you feel position taking is something you are good at, then consider allowing some of that.

Just my two-penneth.

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

Tue Mar 05, 2019 6:48 pm

PDC wrote:
Mon Mar 04, 2019 1:54 pm
you should be looking to win not make money. They are very different things.
Process should be the focus

"I will never go inplay, because it's always better to exit (here)" (cite, longterm backtest)

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whimsies
Posts: 75
Joined: Sun Oct 02, 2016 7:37 am
Location: Adelaide

Tue Mar 05, 2019 9:42 pm

Add this little automation to all your markets you want to trade and you will never go in play again, greens up win or lose 6 seconds before the off.
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JTEDL
Posts: 374
Joined: Wed Aug 23, 2017 2:21 pm

Tue Mar 05, 2019 10:10 pm

Was going to suggest that too, add a close/green bot just before off, but easy to turn off/override I suppose if 'on tilt'...

stueytrader
Posts: 425
Joined: Tue Dec 15, 2015 6:47 pm

Wed Mar 06, 2019 9:40 am

whimsies wrote:
Tue Mar 05, 2019 9:42 pm
Add this little automation to all your markets you want to trade and you will never go in play again, greens up win or lose 6 seconds before the off.
A good idea in general, though it might be the fact that it automatically 'reds up' that is the issue, unless it always manages to 'green up' in which case, can I buy it please...! :lol:

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PDC
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Wed Mar 06, 2019 11:45 am

whimsies wrote:
Tue Mar 05, 2019 9:42 pm
Add this little automation to all your markets you want to trade and you will never go in play again, greens up win or lose 6 seconds before the off.
"Scheduled off" I assume, no way automation can know when the actual off is going to be.

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