Trading Horse racing : Market movers - a little guidance.

The sport of kings.
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JollyGreen
Posts: 2011
Joined: Sat Mar 21, 2009 10:06 am

Wed Jul 11, 2018 1:09 pm

Black Ice wrote:
Wed Jul 11, 2018 11:19 am
Very good to see your jolly green man back on the forum Jolly Green! I hope that means your health has improved? Your classic tip about watching WOM & seeing something so that you can react before it happens..from years ago...well...i've looked....& looked....& looked...but to no avail.!! Perhaps i'm just too stupid! :( But any further advice on that one??
Rude health my friend, better now than I have ever been 8-)

Trebleit
Posts: 9
Joined: Sat Jun 11, 2016 9:27 pm

Sat Jul 14, 2018 8:59 am

I’m going to take the plunge and ask a question which is highly likely going to amuse you pro traders... but here goes.
I realise there are some extremely clever people on this forum who have the knowledge to use excel, code, automate trades, use complex charts etc etc. Most of this for me is about as possible as finding rocking s***.
I’m a pen and paper kind of guy who’s life has been spent winning and losing money, so I’m not phased one bit if a trade doesn’t work out I just accept and move on.
I believe the principle of trading is quite simple, the price either goes up or comes down. So that being said in your opinion would it be possible to trade successfully in a very simplistic manner?
By this I mean I’m trading with two screens, one obviously with the ladders ( 500ms refresh) and the second with the overview chart and a basic graph which refreshes every 2 seconds.
Jolly greens recent posts regarding spoof money and market movers I believe he was tying to say keep things simple.
Cheers

Nero Tulip
Posts: 396
Joined: Wed Apr 15, 2009 5:29 pm

Sat Jul 14, 2018 9:48 am

Trebleit wrote:
Sat Jul 14, 2018 8:59 am
I’m going to take the plunge and ask a question which is highly likely going to amuse you pro traders... but here goes.
I realise there are some extremely clever people on this forum who have the knowledge to use excel, code, automate trades, use complex charts etc etc. Most of this for me is about as possible as finding rocking s***.
I’m a pen and paper kind of guy who’s life has been spent winning and losing money, so I’m not phased one bit if a trade doesn’t work out I just accept and move on.
I believe the principle of trading is quite simple, the price either goes up or comes down. So that being said in your opinion would it be possible to trade successfully in a very simplistic manner?
By this I mean I’m trading with two screens, one obviously with the ladders ( 500ms refresh) and the second with the overview chart and a basic graph which refreshes every 2 seconds.
Jolly greens recent posts regarding spoof money and market movers I believe he was tying to say keep things simple.
Cheers
There's a lot to be said for having a simple idea, and sticking to it (if it works). Things that stand you in good stead - knowing what works and why, having it simple enough to follow time after time, and you have the right mentality when it comes to winning AND losing. That last bit will put you ahead of the majority, obviously it's meaningless without the first parts...

Regarding strategy, a simple idea, based on something very few other people have considered is sometimes the most powerful.

Possible things that might give you a head wind - the set up is similar to a lot of other people that are trading, discretionary trading based on eyesight and experience alone can be hard to reconcile (esp during bad patches) - it's easy to start questioning yourself, changing what you're doing and so on without a lot of notes, recordings of what happened / data that help you analyse the decisions you made. The feedback part of the process is really important, so it's worth probably making some attempt to record in some way what went on... you may not know what to do with that right now, but think of it as insurance...

Best of luck, put as many things as possible in your favour on each trade, and beat it over the head with consistency.

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Korattt
Posts: 1280
Joined: Mon Dec 21, 2015 6:46 pm

Sat Jul 14, 2018 10:35 am

Trebleit wrote:
Sat Jul 14, 2018 8:59 am
I’m going to take the plunge and ask a question which is highly likely going to amuse you pro traders... but here goes.

I believe the principle of trading is quite simple, the price either goes up or comes down. So that being said in your opinion would it be possible to trade successfully in a very simplistic manner?

Cheers
I think one of the issues learners have is that they look at the videos that Peter has produced on YouTube & get confused how he manages to successfully "predict" where the price is going on various types of markets.

He uses charts, so do I, but he is more experienced at reading charts than me, he has I believe nearly 18 years experience of reading charts, me?, less than 2 years (after the 1st two years of my 4 years experience being playing about with the ladders).

For me the charts tell the story where it matters.. the here & now, yes the ladders & BF Charts are useful with regards telling the story of it's past but you're not looking trading the past, your looking to solve the future & for me the Advanced Charting along with ALL features of the Market Overview Chart are paramount, but on some markets not all..now THERE's a puzzle.. but can be answered (I think) on one particular video Peter has done.

I think Peter is a very clever person with his pre race trading videos.. extremely clever, he basically gives everything away in my opinion but not in the way you would expect, I think one needs to pick every video he produces to pieces with the finest of fine tooth combs to extract some very valuable information.

My issues are with concentration, like last night things were going well & for one inexplicable reason I got involved in an Irish market with reading the charts, I guessed the move - for me that is a very stupid thing to do, no real harm done but mad at myself for not sticking to my rules.

Start with trying to master one particular type of move, use & modify the charts to your liking, this is my set up..

Screen Set Up.png

Took me ages to get a set up that I am happy with and I suggest you do the same with your set up, I'm still learning and will probably change the set up again if & when I find something that makes things better, one needs to constantly evolve.
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JollyGreen
Posts: 2011
Joined: Sat Mar 21, 2009 10:06 am

Sat Jul 14, 2018 10:54 am

Trebleit wrote:
Sat Jul 14, 2018 8:59 am
I’m going to take the plunge and ask a question which is highly likely going to amuse you pro traders... but here goes.
I realise there are some extremely clever people on this forum who have the knowledge to use excel, code, automate trades, use complex charts etc etc. Most of this for me is about as possible as finding rocking s***.
I’m a pen and paper kind of guy who’s life has been spent winning and losing money, so I’m not phased one bit if a trade doesn’t work out I just accept and move on.
I believe the principle of trading is quite simple, the price either goes up or comes down. So that being said in your opinion would it be possible to trade successfully in a very simplistic manner?
By this I mean I’m trading with two screens, one obviously with the ladders ( 500ms refresh) and the second with the overview chart and a basic graph which refreshes every 2 seconds.
Jolly greens recent posts regarding spoof money and market movers I believe he was tying to say keep things simple.
Cheers
Well you have pretty much described my setup so in my humble opinion you are doing just fine!

Whenever the topic of trader's system setup is mentioned I immediately chuckle and think of this https://youtu.be/arCITMfxvEc

User avatar
Korattt
Posts: 1280
Joined: Mon Dec 21, 2015 6:46 pm

Sat Jul 14, 2018 11:24 am

JollyGreen wrote:
Sat Jul 14, 2018 10:54 am
Trebleit wrote:
Sat Jul 14, 2018 8:59 am
I’m going to take the plunge and ask a question which is highly likely going to amuse you pro traders... but here goes.

Cheers
Well you have pretty much described my setup so in my humble opinion you are doing just fine!

Whenever the topic of trader's system setup is mentioned I immediately chuckle and think of this https://youtu.be/arCITMfxvEc
now THAT is funny

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Black Ice
Posts: 170
Joined: Thu Nov 06, 2014 12:35 pm

Sat Jul 14, 2018 12:16 pm

Yes hilarious!!! :D And thanks to Spreadbetting for his view that WOM is defunct now due to x-matching...at least one less thing to worry about!!

Trebleit
Posts: 9
Joined: Sat Jun 11, 2016 9:27 pm

Sat Jul 14, 2018 1:13 pm

Thanks very much for your time and effort to reply, it’s appreciated.
I do now feel better knowing my basic setup is similar to Mr Jolly’s as I thought I was missing a trick not having a NASA style computer running a bank of screens!!
As for the very funny video clip JG, it hits the nail right on the head.
Cheers

User avatar
Korattt
Posts: 1280
Joined: Mon Dec 21, 2015 6:46 pm

Sat Jul 14, 2018 3:02 pm

Trebleit wrote:
Sat Jul 14, 2018 1:13 pm
Thanks very much for your time and effort to reply, it’s appreciated.
I do now feel better knowing my basic setup is similar to Mr Jolly’s as I thought I was missing a trick not having a NASA style computer running a bank of screens!!
As for the very funny video clip JG, it hits the nail right on the head.
Cheers
I used to fear using three figure stakes but now don’t think anything of it, I used to fear using charts but now embrace them, took a while to learn but I now find them extremely useful, my next step is automation, I fear this feature because I don’t understand how to get the best out of it BUT am willing to learn, my lack of “coding”, computer programming is truly shocking but as mentioned am willing to learn which I understand if not from that background will be a slow process, human nature is to fear the unknown, ask questions, try stuff, be patient.. you may find something no one else has through trying.

Don’t dismiss what you don’t understand, learn from it.

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