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Thread: 100 € - 500 € November Challenge

  1. #21
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    Quote Originally Posted by zrg View Post
    I've begun to accept that one in five races are scratches or losses and today I tried to be more prepared for the loss. It's good to be back.
    4/5 successful trades is stunning if your average red = your average green, is this so ?

  2. #22
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    my average win is 3€ and the average loss is about 2€. the strike rate is so high because I enter only when there are the ideal conditions for a swing. I watched the markets a lot, taking notes, records, print-screens with patterns, it's not any secret. If my stake would be more than 2€/tick it could affect the market, now I use only 0.5€/tick. what I need is more practice with taking profits and accepting losses, now I understand that psychology has the same importance as the edge.

  3. #23
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    Sorry for not posting my results lately. I took some time off when the jumps season arrived. My strategy had to be changed, I tried different ideas and it seems it was a wise thing to do. It was a path with many ups and downs so far. Now I trade different markets including US and AUS races. My profit since November including two weeks vacation is 370 € and I will try to increase it to 500 until Christmas.
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  5. #24
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    It's getting really difficult to scalp in UK horse-racing but I found other markets with less liquidity. I made 38 € yesterday most of them from the US races.
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    last night I only traded for two hours and the liquidity was small. I think today will be the same but if I will maintain the current strike rate I will obtain the result I wanted from the beginning earlier this week.
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    really lucky today in the first race. the take SP option wasn't available and I didn't verified it. The race begun and my 50 € stake on the favorite @ 3.7 were now a straight bet. The horse actually won the race and my profit was 130 €. No more trades for today, if I don't stop probably will lose them. I really have to check the rules of each market from now on.
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    my strategy to limit losses is to have only 60 € in the betfair account and withraw every profit. in the AUS wallet I have 40 € in case I make some mistakes. a strange thing happened when I tried to withraw the 50 € from yesterday, betfair told me that I cannot withraw to moneybookers untill I withraw at least 115 € that I deposited from neteller. it seems I am very close to break even after 6 month of losses.
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  9. #28
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    in the last two days I lost 63 € trying to scalp on greyhounds. I think the market is full of traders that have on both sides and as soon as a bigger bet is placed they take the price in the opposite direction.
    It's time to close this challenge after two months, 20 days later than I wanted. The final profit is 550 € but it was - 200 € at one point when I started to chase the losses. After that I've taken a recovery vacation of two weeks and I've put a 65 € maximum loss limit/week. This helped me a lot to concentrate on bank preservation and to avoid big losses.
    The best period was when I traded for 3 hours max. at full performance and I had no problem taking losses. Those days I made 30-50 € very easy and this will be my goal for 2013, as many days as those possible. On other days I started trading without being prepared or because I had 30 minutes available. Those moments had bring the worse results with my bank being blown several times. One of the best decision was to limit the losses and to withdraw every profit made. If not I have the tendency to chase losses using the whole bank.
    About the markets I've noticed that I can win constantly if I find someone who tries to force the price in one direction and jump in front of him. Usually he has a big stake unmatched where he want to take the price. The other way is to be a market maker but I'm not comfortable with big exposures anymore. Thanks for your comments.

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    Quote Originally Posted by zrg View Post
    my average win is 3€ and the average loss is about 2€. the strike rate is so high because I enter only when there are the ideal conditions for a swing. I watched the markets a lot, taking notes, records, print-screens with patterns, it's not any secret. If my stake would be more than 2€/tick it could affect the market, now I use only 0.5€/tick. what I need is more practice with taking profits and accepting losses, now I understand that psychology has the same importance as the edge.
    what is ideal condition for a swing ? do you mean breakouts or reversal signal ?

  12. #30
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    when the favorite is well backed I look other horse below 6.0 that will drift. I look at the money in the queue, it's graph is ascending and some other graphs I use to confirm my choice.

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    Hi. Nice results. Do not you thing of enlarging your stakes?

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    my maximum stake is 60. if i use bigger stakes is more difficult to close the trades because the market i trade don't have big liquidity. the other problem with increasing the stakes is that i can't take bigger losses than 5.right now i'm happy with 20-50 profit/day.

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    Quote Originally Posted by zrg View Post
    my maximum stake is 60. if i use bigger stakes is more difficult to close the trades because the market i trade don't have big liquidity. the other problem with increasing the stakes is that i can't take bigger losses than 5.right now i'm happy with 20-50 profit/day.
    Thanks. What max liquidity do your markets have 10 mins before race? Why do you avoid big liquidity?

  17. #34
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    my reply is for US races because i don't trade UK right now. if the liquidity is not very good there will be easier to make some swings and that is what i try to look for. if 10k is matched 3 minutes untill post time, it's enough to make a few ticks.

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