Hi Everyone,
New user here, I thought of using Lay the Draw as my first serious attempt at trading. Of course, I am looking for something simple while I learn my way as a trader. Just wanted to get some feedback on Lay the Draw and if was a good fit for a newbie?
Thanks and Happy Trading
BKKBhoy
Lay the Draw
It is all about determining your strategy for the long run. Although tonight might be a nice result, it would be interesting to see how that plays out over 100+ bets for instance. If not profitable over a longer period of time, then it would be time to redefine your strategy and see if you can increase your results. Note that what you mention is not trading, but betting with a certain strategy.
Sorry, Nick, you are right it's a strategy, not trading.NickH wrote: ↑Tue Jun 23, 2020 10:09 pmIt is all about determining your strategy for the long run. Although tonight might be a nice result, it would be interesting to see how that plays out over 100+ bets for instance. If not profitable over a longer period of time, then it would be time to redefine your strategy and see if you can increase your results. Note that what you mention is not trading, but betting with a certain strategy.
My plan is to do 50 bets and see where I am but I can do 100
I am only doing small bets while I learn what I am doing. The one I lost taught me I really need to properly understand the exit strategy from the lay the draw.
Any advice greatly appreciated.
Cheers
BKKBhoy
- ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
The only real difference between betting and trading is intent. Betting usually suggests the punter will hold their position until the market closes whereas a trader will be continually looking to adjust their position before the market closes. All trading is betting but all betting isn't trading.
I think there is a difference between outcome and result. Outcome could be based on certain market conditions changing at a certain moment in time which you anticipate on, giving you a certain outcome in for instance timeframe X, whilst result is just the result of the event.
- firlandsfarm
- Posts: 2688
- Joined: Sat May 03, 2014 8:20 am
I see the difference as you have no choice with the timing and result, it is what it is. But with trading you do have some choice over both.