Trading Horse racing : Trading What I see !?

The sport of kings.
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Kai
Posts: 1880
Joined: Tue Jan 20, 2015 12:21 pm
Location: Croatia
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Wed Sep 16, 2020 11:21 am

goat68 wrote:
Wed Sep 16, 2020 10:29 am
I am pushing hard forward...I'm reading lots, and watching videos lots.......
That can help, but most of the progress will come from your own ladder and from your own work, not that of others.

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wearthefoxhat
Posts: 1523
Joined: Sun Feb 18, 2018 9:55 am

Wed Sep 16, 2020 11:34 am

Kai wrote:
Wed Sep 16, 2020 11:21 am
goat68 wrote:
Wed Sep 16, 2020 10:29 am
I am pushing hard forward...I'm reading lots, and watching videos lots.......
That can help, but most of the progress will come from your own ladder and from your own work, not that of others.
In my experience it's good to develop a couple of strings to your bow. (strings=other sports, bow= trading portfolio)

What might be break even on horse racing (pre) might work well on football (pre).

Watch this (Peter Webb) video again and listen carefully to the beginning and, when the video starts showing examples, @4.58 onwards, watch his entry points and observe the other runners on the ladder too. (don't tell anyone cos they'll all be doing it) Worth re-watching a few times.

https://www.youtube.com/watch?v=q6eN7u326TI

alexmr2
Posts: 73
Joined: Wed Sep 26, 2018 12:32 am

Wed Sep 16, 2020 12:45 pm

If your heart is in this and you are persistent it should work eventually but IMO the xmas goal is unrealistic (I wish someone had told me that). I started on the horses around this time in 2018 and had a goal to be profitable by new year 2019 because it just seemed around the corner after the help and videos I'd been shown by a pro it made it look easy

Never mind new year 2019, I was still losing money new year 2020, and another 9 months later today it's still the same. Bearing in mind this is me trading 7 days a week with only a couple of days off a month, rewatching my trades and watching videos most nights, rereading books like trading in the zone and having lots of guidance and live trading calls with a pro trader. I have definitely made progress but my P&L hasn't with a lifetime of something around -£8k from only using £100 banks and a lot of practice mode.

I'm not trying to be negative and there are many different ways to trade but I'm saying my experience because I wouldn't want you to lose the same money as I have or to think it can be done in a year or two even if you make it your life

Professional, consistent, manual trading isn't really a profitable sidehustle or a hobby, there isn't much middle ground so it's like saying you would study for years to become a lawyer or surgeon only to do it at weekends (and charge £100-200 an hour) but then work all week on your day job at say £15 an hour

goat68
Posts: 154
Joined: Tue Jun 30, 2020 3:53 pm

Wed Sep 16, 2020 1:18 pm

auto-matt wrote:
Wed Sep 16, 2020 10:35 am
By putting a number on it doesn’t mean it’s going to magically click once that number has been reached, Trading 2,000 live markets is far less beneficial than trading 1,000 markets that have been recorded and reviewed, you will miss out on so much in real time due to inexperience, quality not quantity
Yes agree.
I just spent a very careful bit of quality experience trading, and just got it totally wrong!!
My very words when I traded out for a loss, was "For **** sake why is it doing that?!"

goat68
Posts: 154
Joined: Tue Jun 30, 2020 3:53 pm

Wed Sep 16, 2020 3:02 pm

alexmr2 wrote:
Wed Sep 16, 2020 12:45 pm
If your heart is in this and you are persistent it should work eventually but IMO the xmas goal is unrealistic (I wish someone had told me that). I started on the horses around this time in 2018 and had a goal to be profitable by new year 2019 because it just seemed around the corner after the help and videos I'd been shown by a pro it made it look easy

Never mind new year 2019, I was still losing money new year 2020, and another 9 months later today it's still the same. Bearing in mind this is me trading 7 days a week with only a couple of days off a month, rewatching my trades and watching videos most nights, rereading books like trading in the zone and having lots of guidance and live trading calls with a pro trader. I have definitely made progress but my P&L hasn't with a lifetime of something around -£8k from only using £100 banks and a lot of practice mode.

I'm not trying to be negative and there are many different ways to trade but I'm saying my experience because I wouldn't want you to lose the same money as I have or to think it can be done in a year or two even if you make it your life

Professional, consistent, manual trading isn't really a profitable sidehustle or a hobby, there isn't much middle ground so it's like saying you would study for years to become a lawyer or surgeon only to do it at weekends (and charge £100-200 an hour) but then work all week on your day job at say £15 an hour
Appreciate your input, and you somewhat scare me, 2 years on and you've lost £8k and still losing, blimey!
I can tell you once I lose my current bank I am done, and you've just reinforced that decision.

I would like to point out a huge discrepancy here, what is it that Peter Webb knows that us lot don't?! It scares me when I saw one of his recent videos where he quoted his last week's Premium Charge figure, It was £1667 at 40%, so at a rough guess say Peter is 10% efficient, that's £1667 for 30% net profit, that's £5.6k he made in one week!!!!!

Trader Pat
Posts: 755
Joined: Tue Oct 25, 2016 12:50 pm

Wed Sep 16, 2020 3:10 pm

Unfortunately some people just will never crack this no matter how long they try and imo if you're losing money over years then its not for you and you should move on.

One piece of advice is that is never given enough is to cut your losses and accept the fact that you may not be suited to trading no matter how many books you read or how many videos you watch.

goat68
Posts: 154
Joined: Tue Jun 30, 2020 3:53 pm

Wed Sep 16, 2020 3:32 pm

Trader Pat wrote:
Wed Sep 16, 2020 3:10 pm
Unfortunately some people just will never crack this no matter how long they try and imo if you're losing money over years then its not for you and you should move on.

One piece of advice is that is never given enough is to cut your losses and accept the fact that you may not be suited to trading no matter how many books you read or how many videos you watch.
We can't stop, we're feeding Peter's £5.6k a week... :D

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wearthefoxhat
Posts: 1523
Joined: Sun Feb 18, 2018 9:55 am

Wed Sep 16, 2020 3:34 pm

goat68 wrote:
Wed Sep 16, 2020 3:32 pm
Trader Pat wrote:
Wed Sep 16, 2020 3:10 pm
Unfortunately some people just will never crack this no matter how long they try and imo if you're losing money over years then its not for you and you should move on.

One piece of advice is that is never given enough is to cut your losses and accept the fact that you may not be suited to trading no matter how many books you read or how many videos you watch.
We can't stop, we're feeding Peter's £5.6k a week... :D
That's down from £6k.... ;)

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jimibt
Posts: 2539
Joined: Mon Nov 30, 2015 6:42 pm

Wed Sep 16, 2020 3:35 pm

goat68 wrote:
Wed Sep 16, 2020 3:02 pm
I would like to point out a huge discrepancy here, what is it that Peter Webb knows that us lot don't?!
ok, we've been at it 20 minutes, he's had a mere 20 years. i once put a sticking plaster on my son (in fact put many sticking plasters on all my kids -whether they needed them or not :D). but alas, when I tried open heart surgery on them i kinda found it scary and felt out of my depth - lol

sorry for being pithy, but that kinda sums up the naivity of the comment above ... this takes patience, observation, trial and error (maybe even talent) -only time provides the former 4, the final one is a bit more elusive to us all.

Korattt
Posts: 1569
Joined: Mon Dec 21, 2015 6:46 pm

Wed Sep 16, 2020 4:18 pm

goaty,

keep persisting on very small stakes, don’t give up, try & find something you’re good at & move on from there, maybe set up some basic automation on baby micro stakes & record what you see?, recording a days trading is extremely useful
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