traders...

run your profit cut your loss stevie.

It is a mindset.

I find i am cutting horseracing trades say lay at 3.0 and back 3.3 and see drift to 4.5

conversely I have backed at 3 and layed at 4.5 and not got out sooner

if you have 20k at 1.5 and lay 20k at 1.49 it all adds up

problem is when market moves against you.

the key is money management STEVIE.

true johnny, when the market moves against you do you sit and hope it comes back or where do you cut the losses?
this is something i cant get my head around on where to cut losses!


btw glad to see you back johnny

STEVIE have a go at trading horses.

£10 trades and report back.

blind trades or races i havent analysed? no thanks

eh no stevie

look at graphs

you are looking for support/resistance.

get a book out on technical analysis and read up on double tops etc.....

jonny football is the sport i know best, yes i have a couple of things on the horses but not trading, never have traded on them + i dont even have trading software currently on this computer as removed it awhile ago

No chart pattern is more common in trading than the double bottom or double top. In fact this pattern appears so often that it alone may serve as proof positive that price action is not as wildly random as many academics claim. Price charts simply express trader sentiment and double tops and double bottoms represent a re-testing of temporary extremes. If prices were truly random, why do they pause so frequently at just those points? To traders the answer is that many participants are making their stand at those clearly demarcated levels.

If these levels undergo and repel attacks, they instill even more confidence in the traders who've defended the barrier and, as such, are likely to generate strong profitable countermoves. Here we look at the difficult task of spotting the important double bottom and double tops, and we demonstrate how Bollinger Bands can help you set appropriate stops when you're trading these patterns.

footie becoming more unpredictable.

remember a game in may where away team had around 7 players out and were smashed in and then corrected at ko

footie may becoming more unpredictable but you just have to be careful, same with everything

Depends what your'e trading on for me.  Is it IP or pre-off?  Is there much liquidity?  Are there any event specifics to consider (eg falling horses, batsmen getting out or rain stopping play etc.); what's the market overround? etc.

For 18 months I just layed sub 1.1 for £2-5 liability and looked to back a tick or two higher and "lock in" a 10% profit on the expected outcome, while leaving a fair bit more on the unexpected.  I found that that I had to actually do it to learn it and as time went on, the stakes increased and the odds I would lay at got higher and higher.  For the first 6 months or so I needed to fund my account to the tune of about £20-30 a month, after which I turned a profit.

The added bonus was that with time, I gained a good enough grip on the concept of value to back my judgement more and not give value away but let more ride.  Certainly though, in the early period, I would green up at any price to get the 10% I was after and I don't think that's such a bad strategy while you find the markets and odds ranges you're comfortable with.

Patience, discipline and to expect the unexpected is still my daily mantra.

I'm not saying it'll work for you but it did for me and I'm happy to share (occasionally).  GL, mate.

thanks for that 1.01 layer

was actually looking at in play football markets mainly goals markets.. i reckon its not hard to pick games where you can back something around evens then trade around 1.98ish in a minute or so, problem is what happens if it turns against you, when do you cut losses? this is what im trying to work out along with what % do people see decent from each trade

stevie my ole mate...how u doin?
how u get on in your exams.what uni u going to?

exams went fine mate, how you been getting on?

im still plodding along.....getting a wage......are u still going to uni or u staying on here full time like the rest of us?

on here full time? no thanks haha

u just do horses freddie?

yea...thank fluck night racing is over

I tried the o/u 2.5,3.5 etc, total goals, red card and next goal markets quite a bit but it never really worked for me, mainly for the reason you point out.  I prefer IP cricket, rugby and even tennis to football because if it does move against you a wicket, a try or a service break does not usually provoke such an extreme price move which takes you into the realm of luck. 

All the same I have kicked myself dozens of times for not taking a 20% loss (going all red) and then watched the seemingly inevitable 1.01 train and a 100% loss.  I try where possible to remove luck from the equation by getting out and also by trying to give myself the best chance of a profit by nicking a few ticks with my opening bet.

Everyone will have their own comfort range but as far as percentages go, I started out by trying to make 20p on £2, so 10%.  Most city traders, bankers and the like would rip your arm off for 10% in a week, let alone a few minutes or an hour.  I suppose the answer is that you need to suck it and see what's right for you.  As a general rule (very general) If the risk is minimal, then 1% is enough but if the risk is greater (ie low liquidity or volatile markets) then I would set out for more than 10%.

I was lucky enough to be in a job which involved sitting in front of a pc for hours on end with naff all to do and it was my boss who actually introduced me to BF, so I had time get it right. 

It won't suit everyone but trading's great work if you can make it pay and there's something gladdening about telling my missus to leave me in peace because I'm watching a test match.

johnny what is double bottom and double top?
also what is bollinger bands?

stevie give wedged a shout out......no favs yet in 9 races....get him to go for a run