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Thread: Just canít crack it.

  1. #1
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    Default Just canít crack it.

    Hi guys, I have recently got into trading. However my first few weeks were more gambling than trading and loss a few hundred quid after watching videos and reading peopleís comments here and on other forums and thinking it must be easy.

    I had downloaded geekstoy and another product which personally I found a bit more user friendly for me at the time. However I now find GT better for display and having lots of separate windows can see a lot more and record a lot more.

    I have been trying to record a days trading whilst Iím at work as I love to try and make £80-£100 per week eventually but starting with a small bank.

    As I say I have been trying and failing and I canít seem to crack things.

    I see graphs going up and down and think I understand, then try and fail.

    Due to work I have little time during the day to trade, maybe only a couple of races lunchtime. Therefore I have been recording to try and find things that I can try and understand and automate.

    Have any done what I have been doing (Iím sure Iím not the only person) and managed to finally understand and set something to trade sensibly and profitably whilst you are away from the computer?

    Sorry for waffling and Iíd appreciate any comments good or bad.

    Thanks

    Dan

  2. #2
    Forum Addict Bog's Avatar
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    Default

    The most important lesson that you will need to learn it's to never go in play if you want to trade only pre-race! I'm talking from experience, all my biggest losses where in play because I didn't accepted pre-race losses and started chasing and of course I lost more!

    Since started, If I had stayed only to pre-race trading, I would have saved a lot of money .... but sometimes you need to make mistakes and learn from them....

    Try not to think about money for now, deposit 100 £ and make a goal to trade only pre-race no matter what. Use take SP (starting price) on your closing trades to make sure you will not be caught in play.

    It's not easy, it's not for everyone, you need to trade 1000's of markets to gain experience. Others where more fast learning, maybe you will be on of them! Good luck!

  3. #3
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    Thanks Bog

    Really appreciate your comments.

    I know that it works and it can help me reach my goals. The down side is reading comments from others, seeing other making money and thinking ....ĒI can do thisĒ

    As I say slow and steady but automation will be key for me but itís identifying whatís happening, what triggers things to happen, what the outcome is the majority of the time and then try and automate it.

    Dan

  4. #4
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    Default

    Horse racing is not the only sport on Betfair...

  5. #5
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    Default

    True, I have done a bit of football but again with the gambling side of me I donít get an instant return unlike racing.

    With the instant return I can then go onto the next race and so on to build up the bank, however, it could also mean I lose my bank quicker.

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