One last attempt
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I haven't been around this place for a long time (12-18 months probably) and if you asked me back then would i have this long out of trading i would of said no way. I have done some to no luck and because i didnt think i would be away for this long i didnt cancel my subcription. Just think that would of been a good starting bank if i did.
A lot has changed new people and a brand new looking forum. So i thought that i would give this one last shot at something that i thought i would and could make work. I will never go full time as i dont have the time now with work commitments still to see if that would be possible and i dont think i would be able to hit that figure to do that but what i am hoping this time around that i could make a little side money to help out the Holidays/Savings pot.
With the Work commitments defo going to look at changing my trading style to what ive done in the past and instead of forcing and getting fomo etc im going to try and get a style that works for me.
But for the early part is looking and learning what data to collect to try and work out a few stratagies and look at other ones that have been profitable to start scaling a bank to work with.
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@Simji I know what you mean about wondering if you still had your earlier banks. But you're right, just put it down to a learning experience. We all go through stages of taking big chunks out of the bank, especially when you're trying to grow it. The silver lining is that at least you did it when you're learning and not experiencing big downturns for the first time once you've told your boss to shove it and you needed that money to survive!
When it comes to discipline you have 2 options. 1 - get a bot to do it and just remove yourself. 2 - have a game plan and behave as though you were a bot. That means, if you've written out your rules you have to follow it.
If you're worried about losing and doubling down then that might be a sign you're overstaking? I think there's a Buddhist saying "the vase is already broken" so when the vase does break you don't get upset because you knew it could happen. You have to kind of be like that with trading. When you place a trade think "this trade has already lost" and if that makes you feel uncomfortable then you need to ask yourself why.
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@Dan-MacKinnon This is very true and sometimes i could go days without a loss but if i had a loss i would be always thinking well my bank should be this now but its only this.. and thats the thing i have to get out of my head.. I still think too much about what if i have better disicpline at the start and that first couple of banks that i grew was still here etc. Maybe i am trying to always get back to that amount quick and needs to forget about what i have put it in as a learning experience and looking forward.
In some games i should of got out when a goal got in and some i left going hoping itll go back right sometimes it work sometimes i got burned more and i did have a recovery strat that went to the next goal market but a lot of times 2 quicks goals doubled the loss.
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@Martin Yeah fomo is a big one especially if your following a certain strat and you keep checking the boards to see if the selections have been posted etc.. Plus when you dont get much time to trade any oppourtunity to get on game etc you try regardless if its in your strat etc..
Just need to get a strat going and a few ideas on what to track and i think itll happen. Im defo taking it slower and not thinking that i should be on trades every day/week. Like now in the opening week/2 weeks for lower leagues i havent traded yet as the i havent had the time but before i would of even at work and wasnt able to really focus on the game/selection
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@Simji said in One last attempt:
This time around im trying not to get fomo and get something that would work for me rather than saying i have to trade everyday this is probably down to me saying if i want to try and get say 10k a year and broke it down to around £27 a day
Most of my stratagies was to gain so many ticks before getting out that was the plan but sometimes if it goes against you it was losing a lot more ticks then what you was winning. More of a trading style i thought then a betting type style
I had that as well and there's 2 reasons why you'll just getting frustrated and quitting (took me 2 years to figure it out!)
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You can average £ per day but that is reliant on you never having a losing day. When you do that is the punch in the face that derails your plan.
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If you set targets you'll either a) miss it and feel bad, or b) hit it and feel bad that you weren't more optimistic. Instead of setting targets aim for systems or processes. If the system is right then you can make £27 a day, £27 a trade or £270 a trade and it doesn't matter because it's all the same.
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@Simji that FOMO is a killer isn't it! The key is to remember there will always be lots of good trades out there. I forgot to turn my automation on yesterday when I went to Birmingham and missed a day of trading but I know that there will be plenty of opporunities to make up for it. It sounds like you have a sensible approach now and just know that there is no rush. (I think our brains, well mine anyway, always tell us there is a rush to do things we want to achieve but ultimately that's not true and all that matters is pushing progress forward a little every day.)
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Hey @Martin i hope all is well..
I wouldnt say if it was a BTC thing more of a ME issue lol.. I think my approach last time might have been to scatter gun due to the fact that its hard to sit and trade with job etc.. But when i got chance i was on the betfair app trading whatever. I had some good success but at same time make a lot of mistakes that chased the loss or didnt get out when i should of done etc..
When i did track my filters they where a good ratio with how many winners to losers but i only was able to get on most of the lossers and this obs made it hard to stick with it. Also many in play ones i couldnt get odds for as i wasnt there..
This time around im trying not to get fomo and get something that would work for me rather than saying i have to trade everyday this is probably down to me saying if i want to try and get say 10k a year and broke it down to around £27 a day
Most of my stratagies was to gain so many ticks before getting out that was the plan but sometimes if it goes against you it was losing a lot more ticks then what you was winning. More of a trading style i thought then a betting type style
