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Thread: A novice diary

  1. #1
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    Default A novice diary

    Hi all, I suppose I've picked a rather ambitious username here given my first day's performance LOL

    I remember reading about trading a few years back, and may have even have given BetDevil a few days of half arsed trial back then; but this is the first time I'm being serious about this. I've been reading blogs/forums and watching yootoobe vids since just after christmas - and today I went live... and proceeded to blow 1/3rd of my bank

    Just a 30 quid bank for now to allow me to make mistakes with some real money without being silly about it.

    Anyway, here it is:

    Horse Racing: -£10.12 Total P&L: -£10.12

    Horse Racing Showing 1 - 16 of 16 markets
    Market Start time Settled date Profit/loss (£)
    Horse Racing / Kemp 24th Feb : 2m Hcap 24-Feb-16 20:10 24-Feb-16 20:22 -2.69
    Horse Racing / Kemp 24th Feb : 6f Hcap 24-Feb-16 19:40 24-Feb-16 19:45 0.08
    Horse Racing / Kemp 24th Feb : 1m Mdn Stks 24-Feb-16 18:10 24-Feb-16 18:15 -0.70
    Horse Racing / Kemp 24th Feb : 1m App Hcap 24-Feb-16 17:40 24-Feb-16 17:45 -7.04
    Horse Racing / Donc 24th Feb : 2m NHF 24-Feb-16 17:10 24-Feb-16 17:22 1.36
    Horse Racing / Ling 24th Feb : 1m2f Hcap 24-Feb-16 17:00 24-Feb-16 17:06 -5.29
    Horse Racing / Donc 24th Feb : 2m NHF 24-Feb-16 16:40 24-Feb-16 16:50 0.29
    Horse Racing / Ling 24th Feb : 1m2f App Hcap 24-Feb-16 16:25 24-Feb-16 16:29 4.11
    Horse Racing / Donc 24th Feb : 3m2f Hunt Chs 24-Feb-16 16:05 24-Feb-16 16:17 0.12
    Horse Racing / Ling 24th Feb : 1m2f Mdn Stks 24-Feb-16 15:55 24-Feb-16 16:07 3.94
    Horse Racing / Donc 24th Feb : 3m Hcap Chs 24-Feb-16 15:30 24-Feb-16 15:43 -1.06
    Horse Racing / Ling 24th Feb : 2m Hcap 24-Feb-16 15:20 24-Feb-16 15:28 -1.46
    Horse Racing / Donc 24th Feb : 3m Hcap Hrd 24-Feb-16 15:00 24-Feb-16 15:13 -0.24
    Horse Racing / Ling 24th Feb : 7f Mdn Stks 24-Feb-16 14:50 24-Feb-16 14:54 -1.67
    Horse Racing / Donc 24th Feb : 2m Juv Hrd 24-Feb-16 14:30 24-Feb-16 14:41 0.09
    Horse Racing / Ling 24th Feb : 7f Hcap 24-Feb-16 14:20 24-Feb-16 14:24 0.04

    A couple of decent results in there, but some silly ones also - I didn't take any of these in play at all; the 2 bigger losses there of £5 & £7 just seemed to go heavily against me very quickly. So I reckon my takeaway from today is to cut my losses as soon as they turn on me. I now have a post-it on my desk with "TAKE QUICK REDS!"

    Anyway, I recorded what I was doing and will have a review of it in the morning before round 2.

    This may be a short lived diary haha

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  3. #2
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    Shall be following this with interested as Ive been dabbling with GH trading for the past few weeks with some erratic results to say the least. what stakes are you currently using? min £2?
    im going with GHs due to working full time and only being able to sit down from about 7:30pm onwards once kids are in bed

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    sharkky (25th February 2016)
  5. #3
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    Good luck doing something similar myself the quicker you can get your head around losses the quicker you go forward along as you get more wins than losses then you be in profit :-)

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    sharkky (25th February 2016)
  7. #4
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    Well, 2 ways to look at today I suppose - either I lost only half what I lost yesterday so improved a bit - or that I've done half the bank in 2 days

    Horse Racing: -£5.67 Total P&L: -£5.67

    Horse Racing Showing 1 - 16 of 16 markets
    Market Start time Settled date Profit/loss (£)
    Horse Racing / ChelmC 25th Feb : 1m Hcap 25-Feb-16 20:10 25-Feb-16 20:13 0.06
    Horse Racing / ChelmC 25th Feb : 1m Mdn Stks 25-Feb-16 19:40 25-Feb-16 19:48 -0.23
    Horse Racing / ChelmC 25th Feb : 1m Hcap 25-Feb-16 19:10 25-Feb-16 19:18 -0.28
    Horse Racing / ChelmC 25th Feb : 1m6f Hcap 25-Feb-16 18:40 25-Feb-16 18:47 -0.12
    Horse Racing / ChelmC 25th Feb : 6f Hcap 25-Feb-16 18:10 25-Feb-16 18:14 1.18
    Horse Racing / ChelmC 25th Feb : 1m2f Hcap 25-Feb-16 17:40 25-Feb-16 17:43 0.09
    Horse Racing / Thurl 25th Feb : 2m INHF 25-Feb-16 17:30 25-Feb-16 17:36 -0.31
    Horse Racing / Sedge 25th Feb : 2m Hcap Chs 25-Feb-16 17:15 25-Feb-16 17:23 0.89
    Horse Racing / Thurl 25th Feb : 2m Hcap Hrd 25-Feb-16 17:00 25-Feb-16 17:07 0.25
    Horse Racing / Ling 25th Feb : 1m Hcap 25-Feb-16 15:45 25-Feb-16 15:49 -2.71
    Horse Racing / Sedge 25th Feb : 2m1f Hcap Hrd 25-Feb-16 15:30 25-Feb-16 15:37 0.24
    Horse Racing / Hunt 25th Feb : 2m Hcap Hrd 25-Feb-16 15:20 25-Feb-16 15:27 -1.14
    Horse Racing / Thurl 25th Feb : 2m4f Nov Hrd 25-Feb-16 15:15 25-Feb-16 15:21 -1.51
    Horse Racing / Ling 25th Feb : 6f Hcap 25-Feb-16 15:10 25-Feb-16 15:12 -1.48
    Horse Racing / Sedge 25th Feb : 2m3f Hcap Chs 25-Feb-16 14:55 25-Feb-16 15:04 0.25
    Horse Racing / Hunt 25th Feb : 2m3f Hcap Hrd 25-Feb-16 14:15 25-Feb-16 14:23 -0.85


    I do feel that I'm seeing things a little bit clearer, even at the cost of being wrong. Watching the false money pin down/up a price then PING! when it gets pulled. Seen that happen a few times today but usually wasn't quick enough to click. Also a good few times I missed moves that I called because I waited just that half second for more confirmation. Didn't take any huge losses today, unlike the 2 big ones yesterday, but I've certainly got a long way to go with this trading game.

    Thanks all for the comments. Craigie I started on £2 stakes first few races yesterday but very quickly moved to basically full bank liability - figured I might as well given how micro the bank is. Although, another couple of days on this trend and there'll be no bank left so if that happens and I re-load then I may take a different approach.

  8. #5
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    More losses last 2 days which I won't bore you all with - but something interesting I noticed just going through my P&L statement for this week... If i had cut the bigger losses short pronto instead of sitting thinking "I'm right, I must be, this has to be a temporary move against me" - I'd actually be 10 to 15% up on my bank over the 4 days. That's quite startling...

  9. #6
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    Managing losses is definitely the way to profiting regularly

  10. #7
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    Yeah definitely. It's obvious to say ofc, harder to do in the moment. But just that bit of perspective there when I realised that if I discounted those larger losses down to the same level as my standard size losses (where I did get out quickly), then not only would I be up, but I'd be hitting a nice enough percentage (about 3% per day, which with compounding would see me double my bank in a month or thereabouts). Just those 2 bits of information alone have shifted my mood from, shit, I'm just leaking money at this game; to, actually, if I keep discipline here I'm doing pretty well. Stop thinking about the individual results is my takeaway for this week.

  11. #8
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    Click image for larger version. 

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ID:	2072

    Well it took a while, but today was my first profitable day. Still some mistakes ofc, but I feel I'm getting a bit better at this. Last week or so I've been able to just about tread water.

    Tiny profit, but actually that represents about 10% of my micro trading bank. Probably the lowest chelt profit you'll see posted LOL Anyway, I'm happy

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  13. #9
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    Hello.
    You have a small bank .you stakes are 5£ ...yes?.from the fist day i think you have the same problem like me....you let the reds go bigger because you think the markets will turn in your way.And you cut de greens to soon....Its a mental thing...but its hard to make diferent.

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    sharkky (19th March 2016)
  15. #10
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    With the reds, sometimes it's getting in on a trend too late and getting rattled with a snapback, sometimes it's getting in at the bottom expecting a snapback and money just keeps coming. Other thing with greens is just over trading. Many times i've locked in a decent green but i go back in again because I see another oppprtunity somewhere else and more often than not it results in reduced green or a small red. Probably because it's a later trade very close to the off and folks are getting out of positions. It's good that I'm seeing this now though.

    As for holding reds too long and cutting greens short - yeah sometimes. I wrote in my second post about taking quick reds but I've come to see that I can't let market noise bully me out of a position that was actually a decent opening. Ofc, gotta watch for things changing there and get out quickly if they do. Feel like I've learned a lot from the last few weeks though, and I expect that in a months time I might look at this post and totally disagree with myself lol

    Also, cheltenham was an eye opener just because of how slowly things tend to move - I seen a lot there that I'd miss in faster moving markets. Maybe I should record some markets and play them back at reduced speed.

  16. #11
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    Nearly choked on the cobwebs in here

    So update then - I didn't get as much time over the summer to trade as I'd have liked, but from September on I've had more of a run at it.

    Still on micro stakes (£2-£5), but I feel I'm beginning to turn a corner with it.

    Click image for larger version. 

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    I think one of the pieces of advice that stuck with me most was from 'Trading In The Zone'; you can't eat like a bird and shit like an elephant.

    Anyway, not getting ahead of myself, and not going to put up any money that I didn't earn from the market so it'll be slow and steady growth and trying to avoid shitting like an elephant


    EDIT: To save yer eyesight, here's a copy and paste of the above - not sure why that downscaled so much

    Horse Racing: £5.25 Total P&L: £5.25

    Horse Racing Showing 1 - 17 of 17 markets
    Market Start time Settled date Profit/loss (£)
    Horse Racing / Newb 21st Oct : 1m4f Hcap 21-Oct-16 17:20 21-Oct-16 17:25 0.46
    Horse Racing / Chelt 21st Oct : 3m1f Hcap Chs 21-Oct-16 17:05 21-Oct-16 17:21 0.12
    Horse Racing / Newb 21st Oct : 2m App Hcap 21-Oct-16 16:45 21-Oct-16 16:52 0.17
    Horse Racing / Chelt 21st Oct : 2m Mdn Hrd 21-Oct-16 16:30 21-Oct-16 16:38 0.09
    Horse Racing / Donc 21st Oct : 1m6f Hcap 21-Oct-16 16:20 21-Oct-16 16:27 1.13
    Horse Racing / Chelt 21st Oct : 3m Nov Chs 21-Oct-16 15:55 21-Oct-16 16:05 0.40
    Horse Racing / Newb 21st Oct : 1m Hcap 21-Oct-16 15:35 21-Oct-16 15:39 0.33
    Horse Racing / Chelt 21st Oct : 2m5f Hcap Hrd 21-Oct-16 15:20 21-Oct-16 15:28 0.19
    Horse Racing / Chelt 21st Oct : 2m Nov Chs 21-Oct-16 14:45 21-Oct-16 14:52 0.53
    Horse Racing / Donc 21st Oct : 7f Mdn Stks 21-Oct-16 14:35 21-Oct-16 14:40 0.61
    Horse Racing / Newb 21st Oct : 1m Mdn Stks 21-Oct-16 14:25 21-Oct-16 14:33 0.49
    Horse Racing / Chelt 21st Oct : 2m5f Nov Hrd 21-Oct-16 14:10 21-Oct-16 14:20 0.53
    Horse Racing / Donc 21st Oct : 1m Mdn Stks 21-Oct-16 14:00 21-Oct-16 14:04 0.01
    Horse Racing / Newb 21st Oct : 6f Mdn Stks 21-Oct-16 13:50 21-Oct-16 13:59 0.19
    Last edited by sharkky; 21st October 2016 at 06:49 PM. Reason: Tiny Image

  17. #12
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    Some great improvements over a short space of time. Stay positive and keep eager to learn and you will easily succeed.

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