My Trip Through Trading
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Fantastic mate, I think you’ll find it really helps, it’s strange how even though we are told the answers to some things that sometimes we really need to learn them for ourselves.
Best of luck on your journey mate, I have had some problems with bouncing between strategies, I think it’s easy to forget when living in the moment that time can seem slow but looking long term helps you to realise that a day is just a day!
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Best of luck mate and I will be following your progress, what I have learned over my time especially from Darri is that one strategy is the way to go. I at one stage was chopping and changing things myself and getting nowhere, I was then tempted with the odd gamble.
I was making up filters for strategies that had not been done before and tracking them and winning for a while then giving up on it. I am now fully content with my over 1.5 goals strategy and the discipline comes from being happy with what I am doing.All the best mate and I hope its successful for you. YNWA
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Following with interest mate, looking forward to seeing your journey, some very good points in your previous post
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So points to take into my second year of learning to trade:
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Stop bouncing around now, focus on what you are most happy doing. For me this will be Ryans split stake or an almost identical SHG split stake in the +1.5 goal market. I have found the way I am doing this to suit me well and allows me some flexibility in individual trades. It also makes me continue to watch and assess games inplay, via pics or stats. This is something I need to keep improving.
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Continue to run data gathering on test filters but NEVER be tempted to trade them. I have several tests going right now and once I set up my spreadsheets for data gathering it really takes very little time each day now. Fingers crossed they produce something in the future.
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Continue to engage with the good people of the forum. This is where I have learned some of the most valuable lessons. So much good advice from helpful people. I would strongly encourage any new members to actively engage with the forum.
I am going to try to keep things unrestricted as far as goals go. I might find in a few months I am doing really well and need to reassess, or really badly
Keeping this focused but open will allow me flexibility for this. -
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I came to BTC, as a complete beginner, after about 3 months of deliberation (tight with my money!) and took the attitude of spending 12 months to learn the mechanics of trading and how it is actually done. I had £100 as a bank and had written this off as a learning cost. If, at the end of 12 months, I did not feel like I had made enough progress in my learning I would call it a day there.
Obviously I got through my 1st 12 months having made enough learning, also with £64.39 of my original bank left! This 12 months was a rollercoaster for my bank, initially rising to around £140ish in the first 3 months or so before slowly dripping away. Looking back with the knowledge I have now I can see I was just lucky at the start and managed to catch a winning run on various strategies but not truly understanding what I was doing.
Speaking of strategies! Apologies to Ryan, Martin, Darri and others for this bit as it will hurt your ears
. I spent a good while (almost the whole 12 months) bouncing around from strategy to strategy, trying this and that and not being very consistent at anything for too long. Even bouncing to different sports at times. This is almost certainly why my bank slowly dribbled away. The advice given here by many of the pros on BTC is to pick ONE strategy and learn it inside out. This is certainly the best way for just about everyone to start trading.I will say that for me I think I needed to do this. I am not in a rush for this to succeed and am prepared to put the time in before making any money (hopefully). I needed to learn what type of trader I was most comfortable being. I needed to see and learn as many mechanics of trading and the exchange as possible. It also helped deal with some trading demons in this period that might have popped up at a later date, possibly with higher stakes involved.
Was this period a form of FOMO? Yes it was! It was just one I needed to go through as part of my learning process.My key points from these first 12 months have been:
I am most comfortable as a fairly conservative trader. Quite happy to take the non-glamorous and un-sexy option to make some steady but consistent progress.
From my bouncing around I have learned a lot about the software provided by the BTC guys (big thanks to Adam too). I think this has come from trying out lots of different things and trying to put them into action since I like to be able to create my own filters and generate my own selections.
It has also made me realise which markets I am most comfortable trading in and which ones I seem to understand most easily. (This may sound silly but I was an utter beginner when I started).
There is also one slightly more intangible benefit from spending my first 12 months doing this. I have chatted with loads of you great people on here, directly and indirectly. Each time I spoke to someone I am sure I learned something, even if I didn't realise it at the time. I am certain all the bouncing around has made me chat with a wider spread of people than I might otherwise have done.
