Today's Horse Racing

[ShaunWhite]

At moment am on about 16 months.

Don't confuse elapsed time with time spent. 16 months full-time is still only about 2500 hrs.

[Derek27]

It's surprising just how quickly losses can be recovered by small wins, so many losing traders could easily become winners if they stopped overreacting after a loss.

Amen, been saying this for years as it's so true but people really struggle to do that.

You either recover your losses quickly, or accelerate them quickly, depending on how you cope with them emotionally.

[Derek27]

Irish racing

A question for you experienced traders since I am new to this. I noticed during the Irish racing that quite a few of the winners yesterday had big drifts inplay going out to 30,50,100 & even 300 but coming back in an winning. Would you say that this is a common thing in the Irish markets and are they quite often volatile?

I’m just seeing if I should steer clear of these when I am playing with inplay automation as they may throw up some strange results, any insight would be great

Thanks

If you are trading in-play, the pre-race liquidity isn't so important - it's what's happening on the racecourse that counts. It's quite commonplace in the UK or anywhere else for horses to reach triple figures but go in and win.

[dragontrades]

Just remember guys there are plenty more interesting ways to make a living than sitting in front of the PC.
Don't stress if trading isn't for you

[Derek27]

I would say never give up, most people on here come from a gambling back ground and are better trying to make trading work, one of the main problems with manual trading is the time you have to put into it spending maybe more than 40 hours a week and ending up with a loss.

Whilst most people on this forum are either successful or have the aptitude/potential to succeed, or perhaps trading as a hobby, there may be some people who will never be able to make trading pay. And don't forget that trading is ultimately gambling, however we like to categorise it - people have lost four or five figure sums trading. So I don't think you should ever advise anyone never to give up - only the individual can really decide what's best.

[Black Ice]

So..how many hours you think you need to crack it Shaun?

[ShaunWhite]

So..how many hours you think you need to crack it Shaun?

It'sa difficult question Black Ice, but the consensus seems to be you either get it quickly or it's a grind.

viewtopic.php?f=17&t=15377&p=139554&hil ... ng#p139554

[dragontrades]

btw no one should ever stake any money until they are able to profit consistently in practice mode.
You dont give up learning because you lost money just trade in practice mode

[mancbrady]

Irish racing

A question for you experienced traders since I am new to this. I noticed during the Irish racing that quite a few of the winners yesterday had big drifts inplay going out to 30,50,100 & even 300 but coming back in an winning. Would you say that this is a common thing in the Irish markets and are they quite often volatile?

I’m just seeing if I should steer clear of these when I am playing with inplay automation as they may throw up some strange results, any insight would be great

Thanks

If you are trading in-play, the pre-race liquidity isn't so important - it's what's happening on the racecourse that counts. It's quite commonplace in the UK or anywhere else for horses to reach triple figures but go in and win.

If only we had that crystal ball which shows us the horses that hit triple figures then drop back down to win

[ShaunWhite]

btw no one should ever stake any money until they are able to profit consistently in practice mode.
You dont give up learning because you lost money just trade in practice mode

The downside to this is that practice mode is like play money poker, it's easy to make money because you can just keep increasing your risk. It creates some very bad habits.

Practice mode is ok to learn how to use the software, but I think people should move to a 50p stake asap. If you're not prepared to lose a few quid, and learn what that feels like, you're going to have a nasty bump when you move from the soft play area to the actual game.

[Dallas]

It's an Interesting discussion which should perhaps be continued on its own thread so people can find it easier in future

[ruthlessimon]

It's surprising just how quickly losses can be recovered by small wins, so many losing traders could easily become winners if they stopped overreacting after a loss.

Amen, been saying this for years as it's so true but people really struggle to do that.

They struggle for the simple reason -> it requires an edge (which I bet they don't have - or weren't taught how to find)

No edge = Net loser

[Derek27]

It's surprising just how quickly losses can be recovered by small wins, so many losing traders could easily become winners if they stopped overreacting after a loss.

Amen, been saying this for years as it's so true but people really struggle to do that.

They struggle for the simple reason -> it requires an edge (which I bet they don't have - or weren't taught how to find)

No edge = Net loser

That's not necessarily the case. Even profitable traders with an edge can let there emotions get in the way of what there are really capable of achieving.

[ruthlessimon]

I agree, but I think far more people don't have an edge vs. do have an edge but can't execute.

My personal belief is that Korattt didn't fully understand his edge.

[ruthlessimon]

btw no one should ever stake any money until they are able to profit consistently in practice mode.
You dont give up learning because you lost money just trade in practice mode

I'm in dragon's camp on this one

I know the "double down" argument is valid. But a swing trader taking the sim seriously - who isn't profitable - certainly won't be profitable live

-Right enough of my off-topic postings