Trading What I see !?

[goat68]

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

I am, actually having a really good day today

[ruthlessimon]

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.

Trading live: Tick
Rewatching trades: Tick
Reading: Tick
Pro Mentor: Tick
Data: ????

Why is collecting & analysing market data not part of your remit? Come on man, you're an engineer! You should be in love with all things data

(07:03 - 07:42) (https://youtu.be/1CZYiLyTk_U?t=423)

& add this one to your watch list: https://youtu.be/LzEuweGrHvc - I really hope that Josh guy stays well away from Betfair

[alexmr2]

Why is collecting & analysing market data not part of your remit?

What do you mean by market data? What is useful for manual pre-off trading?

Sometimes I download my 3 months P&L and see which race types I'm doing well or bad on. Most of it just looks random to me and the amount of information around racing still overwhelms me 2 years on. My strikerate is uncannily close to 50% on most race types but some have losses double the wins (Mdn Hrd and Hcap Hrd come to mind), so I suppose I should try and work out why this is happening on these or just avoid them rather than just turning up to every race and not paying much attention?

[goat68]

Why is collecting & analysing market data not part of your remit?

What do you mean by market data? What is useful for manual pre-off trading?

Sometimes I download my 3 months P&L and see which race types I'm doing well or bad on. Most of it just looks random to me and the amount of information around racing still overwhelms me 2 years on. My strikerate is uncannily close to 50% on most race types but some have losses double the wins (Mdn Hrd and Hcap Hrd come to mind), so I suppose I should try and work out why this is happening on these or just avoid them rather than just turning up to every race and not paying much attention?

I'm similar to what you state here, but having just watched those videos posted earlier, of Peter's interview, there's actually a set of 3, it's gives some insight into pre-race "data", eg. evaluating expected selection volume, expected back/lay in relation to "the going", and then reviewing expected vs actual...

[ruthlessimon]

What do you mean by market data? What is useful for manual pre-off trading?

For me, at a minimum, useful pre-off market data would be: Price & volume, all runners. (in 1 second intervals)

Obviously there’s millions of other variables we can add; but don’t underestimate raw price and raw volume. Both are relatively simple to capture & (used in the right way) highlight some very interesting market behaviours – which then become the foundations of a manual pre-off strategy.

[goat68]

What not to do lay a steamer!!

Can't seem to get loss exit strategy right:
If I cut early I get lots of small losses that out way the fewer larger wins..
If I try and do a managed exit I still end up with one that ends in a huge loss!

Hmmm

[Kai]

What not to do lay a steamer!!

Can't seem to get loss exit strategy right:
If I cut early I get lots of small losses that out way the fewer larger wins..
If I try and do a managed exit I still end up with one that ends in a huge loss!

Hmmm

Because obviously one size does not fit all.

Staking according to the quality of opportunity takes quite a bit of skill and experience, so logically it's the same with taking losses, with bigger mistakes/misjudgements needing to be cut more aggressively.

[Jukebox]

What not to do - lay a steamer!!

Yeah, its always better to back those ones earlier.

[goat68]

What not to do lay a steamer!!

Can't seem to get loss exit strategy right:
If I cut early I get lots of small losses that out way the fewer larger wins..
If I try and do a managed exit I still end up with one that ends in a huge loss!

Hmmm

Because obviously one size does not fit all.

Staking according to the quality of opportunity takes quite a bit of skill and experience, so logically it's the same with taking losses, with bigger mistakes/misjudgements needing to be cut more aggressively.

Yes this judgement is very hard, I tend to cut the ones that then immediately turn, and let the ones that carry on into the red go cos I say, well position still looks good looking at the other runners........bang!!

[goat68]

Well.... Got angry with not understanding... Revenge traded...
Blew my £100 bank
Going to give this a rest for a while, think about things, not watch any more videos!, and come back with a different strategy.
Despite all your help guys I'm afraid it's wasted on me... But I hope it will help others more capable.

[tiberigc]

Well.... Got angry with not understanding... Revenge traded...
Blew my £100 bank
Going to give this a rest for a while, think about things, not watch any more videos!, and come back with a different strategy.
Despite all your help guys I'm afraid it's wasted on me... But I hope it will help others more capable.

do you maybe think that too many hours spent at the computer are burning you out? I am in the same boat, I work as an infrastructure architect/system engineer and have about 8 hours a day with complex issues to work on, then was trying to learn/trade for another 8 hours on exchange. After 3 weeks of doing this day in and out I just completely lost it and quit trading for indefinite time. If I do this for 2-3 years before I actually pick it up for good and get a feel for it, I will probably die. Quitting my job and fully committing to this is also not an option since the kind of money I currently make are pretty far off to be done in exchange trading by me.

[goat68]

Well.... Got angry with not understanding... Revenge traded...
Blew my £100 bank
Going to give this a rest for a while, think about things, not watch any more videos!, and come back with a different strategy.
Despite all your help guys I'm afraid it's wasted on me... But I hope it will help others more capable.

do you maybe think that too many hours spent at the computer are burning you out? I am in the same boat, I work as an infrastructure architect/system engineer and have about 8 hours a day with complex issues to work on, then was trying to learn/trade for another 8 hours on exchange. After 3 weeks of doing this day in and out I just completely lost it and quit trading for indefinite time. If I do this for 2-3 years before I actually pick it up for good and get a feel for it, I will probably die. Quitting my job and fully committing to this is also not an option since the kind of money I currently make are pretty far off to be done in exchange trading by me.

snap, exactly same scenario, and I've come to the same conclusion!

[sniffer66]

Well.... Got angry with not understanding... Revenge traded...
Blew my £100 bank
Going to give this a rest for a while, think about things, not watch any more videos!, and come back with a different strategy.
Despite all your help guys I'm afraid it's wasted on me... But I hope it will help others more capable.

do you maybe think that too many hours spent at the computer are burning you out? I am in the same boat, I work as an infrastructure architect/system engineer and have about 8 hours a day with complex issues to work on, then was trying to learn/trade for another 8 hours on exchange. After 3 weeks of doing this day in and out I just completely lost it and quit trading for indefinite time. If I do this for 2-3 years before I actually pick it up for good and get a feel for it, I will probably die. Quitting my job and fully committing to this is also not an option since the kind of money I currently make are pretty far off to be done in exchange trading by me.

Interesting. I'm in Systems Management. I've automated most of what I do at work, to free up time to trade from home. Used a lot of my work skills to automate my trading. Maybe there's a carry over from one to the other you can utilise ?

[goat68]

Well.... Got angry with not understanding... Revenge traded...
Blew my £100 bank
Going to give this a rest for a while, think about things, not watch any more videos!, and come back with a different strategy.
Despite all your help guys I'm afraid it's wasted on me... But I hope it will help others more capable.

do you maybe think that too many hours spent at the computer are burning you out? I am in the same boat, I work as an infrastructure architect/system engineer and have about 8 hours a day with complex issues to work on, then was trying to learn/trade for another 8 hours on exchange. After 3 weeks of doing this day in and out I just completely lost it and quit trading for indefinite time. If I do this for 2-3 years before I actually pick it up for good and get a feel for it, I will probably die. Quitting my job and fully committing to this is also not an option since the kind of money I currently make are pretty far off to be done in exchange trading by me.

Interesting. I'm in Systems Management. I've automated most of what I do at work, to free up time to trade from home. Used a lot of my work skills to automate my trading. Maybe there's a carry over from one to the other you can utilise ?

A lot of views on here are if you don't know how to manual trade, you'll struggle to automate...as what profitable strategy are you going to use?

[Korattt]

goaty,

what’s your approach when assessing a market?, to identify something you recognise or to win?