Olly on the road...
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I've decided I'm starting a little blog on here mainly for my own records. I'm going to post my daily football selections, entry points P&L and try to stick to what I'm actually putting here.
A. It will hopefully give me some extra self-discipline.
B. It will encourage me to use this forum more.This blog is called Olly on the road because I quit my retail job recently, I've converted my car into a camper and at some point I'm hitting the road for a bit, flittering between traveling places and my parents. I have some cash in the bank and a trading account where if I can add between 10-20% profit growth/month on average I'll be pretty happy. I've been trading for a while and made a lot of stupid mistakes in the past but I'm at peace with that and concentrating on moving forward.
I also run a small group on Telegram with 12 members who try to help each other become better traders.
On a side note, I am loving this community and the help Martin, Ryan and Adam provide.
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@Ryan Good tip, might look a bit strange in Starbucks, but still!
I gotta say though Ryan your Youtube videos on chasing losses are brilliant, shame I can't always take the advice on board. I think I'm just going to take a breath, physically close my laptop straight away and stand up. I think having a physical action, like you say, can have more of a positive effect on the brain, more so than just staying sat down. -
I try to highlight the exact moment I am going to chase the loss.
So for me I've traded out the loss is there then my eyes glance to that in play tab.
It's at that exact moment I have to intervene.
So I build habits around that. So the moment my eyes look for that tab....
Shout out what are you doing Ryan
Stand upetc... tried many different ones now it's second nature and I don't do it.
Helped for me!
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@oliver-preen we all been there Oliver, if it helps that is what I do when I entered a trade that I Should have not :
1-I am checking my excel spreadsheet and remind myslef if im stick to the pre match analisys will be successfull
2 - As I am about to enter the chasing loss moment, I stand Up , make a coffee and go for a walk - Gym for an hour,have a long shower and than that feeling of forcing myself to entered the next trade available is gone,can go back to the plan and I remember that Rome was not build in a day,(im chasing loss less and less since adding this tiny routine)
3- Never thought about it but @Martin idea could work -
@oliver-preen said in Olly on the road...:
I had a little break from trading and decided to take myself up North to visit a friend and do some car camping. Didn't really take many photos to be honest but had a great time visiting Whitby, Hull and Beverley. Back in the game though and looking forward to sharing some results with you. I have traded a few games over the last few days and also managed to blow a chunk of my bankroll by yet again over staking and chasing a loss. I've watched so many videos from both BTC and other channels about chasing losses and still even now It's something I still do from time to time. If anyone can offer any practical tips to avoid this I'd be happy to hear them. I really should just take a break from a small loss, close the laptop, take a breath and come back when I'm ready. I know, I know!
all been there why i shifted towards sets and fogets easier to mange find it easier to do the staking place bets morning then just leave it
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I had a little break from trading and decided to take myself up North to visit a friend and do some car camping. Didn't really take many photos to be honest but had a great time visiting Whitby, Hull and Beverley. Back in the game though and looking forward to sharing some results with you. I have traded a few games over the last few days and also managed to blow a chunk of my bankroll by yet again over staking and chasing a loss. I've watched so many videos from both BTC and other channels about chasing losses and still even now It's something I still do from time to time. If anyone can offer any practical tips to avoid this I'd be happy to hear them. I really should just take a break from a small loss, close the laptop, take a breath and come back when I'm ready. I know, I know!
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TRADES : 8/6/22
China 1 Div - Sichuan Jiuniu FC v Xinjiang Tianshan Leopard FC
SHG | Odds 1.81 (1.35% Stake)
A game I probably shouldn't of traded as the season has only just kicked off but I decided to go for a SHG in this game. Sichuan Jiuniu finished 7th last season vs Xinjiang Tianshan who were bottom. I felt with the 1-0HT Scoreline both teams would be going for another goal in the second half.
Early in the second half neither team had any shots on target so I waited for the better odds and some goal mouth action. Second half attacking momentum started to come with 3 shots on target total and could see that both teams were playing for a goal. I entered the market and made sure my stake size took into account the risk involved.
Home scored another goal on 78mins.
P&L/Stake +79% -
TRADES : 4/6/22
Sweden 1 Div - Tvaakers IF v Torns IF
SHG | Odds 1.55 (1% Stake)
I was a little bit annoyed at myself on this one, not for trading this game but for not waiting until at least odds 2.0. I was watching this match and saw odds on under 0.5 pre-match were around 20.0. This game had plenty of attacking action particularly from home however the finishing left a lot to be desired. 6SOT in first half and 3 in the second leading up to a very late goal from Torns. If I’m going for a second half goal I will always let the trade run till final whistle and odds at time of goal going in were about 5.0. I should of added a little more to my stake when higher odds became available which is what I sometimes do but hey, a winner is a winner right?
P&L/Stake +54% -
Whilst things are quiet on the football front I want to talk about some of my trading journey. I'm going to start by sharing that I have lost a lot of money trading, not because of poor selections but instead poor bankroll management and mentality. When I first started trading I hit what I can only describe as a 'hot streak'. Goal selections were coming in and I was making some very good profit. I became too confident and started over-staking. I also hated losing money and so if I did I would over-stake on short odds to try and win back the loss, only for that game to also finish 0-0. I had no discipline in waiting for better odds, I had no discipline in my staking, and I had no discipline to get out of a trade when it was going wrong, instead praying for that goal. As all of us here know this is a recipe for disaster and I have blown money because of it.
I started watching Youtube videos on trading (stocks/forex) mentality, because it all applies to sports trading and these have helped massively. I started a new topic on this forum for these videos but I thought I would share some here, as a reminder for myself and others. I still class mentality as the biggest aspect of trading to get right to avoid complete ruin. I think on my trades on here I will also share what % of my bankroll I used. I thought I had nailed the discipline but I've found I STILL have those odd moments where I overtake or chase a loss. Taking step backs and looking at the bigger picture is paramount for long term success, not dwelling on individual losses.
A selection of Youtube videos that helped me when I was in trading turmoil..If even one of these videos helps someone, thats a good thing. I would advise everyone to seek out videos/podcasts on trading psychology in general not just Betfair. It all applies!
Warrior Trading - How day traders handle the losses - A Loss with Ross.
UK Spread Betting - A losing day shouldn't be your goal.
UK Spread Betting - How to turn around your trading losses.
Mark Douglas - How to remove all emotions from trading.
UK Spread Betting - How to manage losing trades.
UK Spread Betting - Do you need to blow an account to be profitable?
UK Spread Betting - How to Handle challenges in trading.
The Moving Average - How to handle a loss in trading.
Falcon FX - Why FOMO is killing your trading results.
The Duomo Initiative - The real reasons for 2% risk management.
UK Spread Betting - Steve Ruffley; Successful traders vs losers.
UK Spread Betting - Steve Ruffley; Should you trust our intuition?
Investors Underground - The 10 min talk every trader needs to hear.
To end on a more positive note, I found this one from Caan rather interesting and inspiring
Caan Berry - 95% of traders lose, as bad as it sounds?
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TRADES : 30/5/22 (2 Games)
Norway Div 2 - Vard v Odd II
1MOREGOAL SH | Odds 1.74
Score was 2-1 and decided with the attacking play shown by Odd and volume of money going into markets for another goal, entered SH goal market at odds 1.7+.
Goal came shortly after.
P&L/Stake +72%Norway Div 1 - Stabaek v Kongsvinger
OVER 0.5 FHG | Odds 1.61
Over staked slightly on this one using close to 3% of my bank when I try and stick to 2% max.
Lots of money going into the FH goal market, noticed a huge overbet on over 1.5 HT goals. Fantastic stats showing on Trader Edge within first 20mins (see below).
P&L/Stake +59%Norway Div 1 - Stabaek v Kongsvinger
OVER 1.5 FHG | Odds 2.96
Hedged profit after first goal.
P&L/Stake +37%Norway Div 1 - Stabaek v Kongsvinger
1MOREGOAL SH | Odds 1.70
Decided to go into the markets for another goal in the second half but cashed out for small loss after first red card.
P&L/Stake -28%So whilst I was originally looking at other games, I decided to concentrate on a different one after kick off and was happy with profit made to not get involved with the others in the second half. The match I wanted to keep an eye on was SK Brann, who in the end comfortably won 7-0. So much for the tight game I thought was going to happen!
Looking back to my original selections...
Raufoss v Asane 1-0
Grorud v Stjordals/Blink 1-2
SK Brann v Mjondalen 7-0Bankroll increase +2.4%
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30/5/22
My mentality is there are always opportunities in the football markets and although today is a quieter day there are 3 games I'll be keeping an eye on for goals, remembering to check weather!
Norway Division 1 -
Raufoss (13) v Asane (10)
Raufoss 6 goals scored in last 5 games. Scored/conceded in last 5/5 games at home.
Asane 9 goals scored in last 5 games. Scored/conceded in last 5/5 games away.Grorud (14) v Stjordals/Blink (16)
Grorud 6 goals scored in last 5 games. Scored/conceded in last 5/5 games at home.
Stjordals/Blink 4 goals scored in last 5 games. 11 goals conceded. Currently worst scoring record in division. Grorud only failed to score at home against IK Start who are currently 5th in league. Grorud will see this match as an opportunity for a win and to lift them 3rd from bottom.SK Brann (2) v Mjondalen (1)
SK Brann 15 goals scored in last 5 games, 9 of those at home. Last 2 games at home won 3-0. Mjondalen 9 goals scored in last 5 games. Scored/conceded in last 5/5 away.
Mjondalen 1 clean sheet in last 5 games away against Sandnes Ulf currently 3rd.
This could be quite a tight match to be fair and could easily end up in a draw but I'm expecting both teams to have plenty of motivation for the win.I'll be loading the games into Trader Edge around kick off and keeping an eye on the markets and in-play stats.
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@oliver-preen Love this!!!
I've lost hours watching those sprinter vans or crafter to camper van videos on YouTube. Buzzing for you.
Will be watching this with a lot of interest.
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TRADE : 29/5/22
Finland Kakkonen - Tampereen Ilves II v FC Jazz
FHG | Odds 1.65 (Max 2.4)
Reasons: 4/6 FHG H2H, 6/7 FHG in both teams games H/A, Trader Edge stats show hot game from kick off; 3SOT/5SOF within first 19mins.
P&L/Stake +64% -
Good luck! I’m looking forward to following along
