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allo
11 Mar 17 13:26
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Date Joined: 08 Jun 05
| Topic/replies: 67 | Blogger: allo's blog
ust wondering whats the smallest red you have turned into a far bigger one, ie couldnt accept a small red so try to reduce it but ended up making it significantly  bigger.. so the other day laid one in ireland NH flat race " obviously couldnt win " the way it was running .it kept getting backed .i took a £20 red  but as i redded up   it drifted again so i thought i am getting my money back i arent taking a red as it was a grinding day to get my wages and i have traded all day to get that money so i laid it again as it couldnt win " from there " obviously kept laying it way to big it  yes it won  so i turned a £20 red into a £895 red ..ouch.

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Replies: 2
By:
nathanrh
When: 11 Mar 17 20:10
Ah, I learned this lesson many moons ago, generally from the goal markets where I was often tempted to re-back an under position when an early goal wen't in ;-). (Hint: An early goal generally means more goals to follow).

I now take a position and let it run; the theory being that if I was happy at the start that the price I've taken is value (beating the Pinnacle closing price is a good indicator) then I should be happy to see it run to its conclusion.

One philosophy I've heard over the years has always been 'cut your losers short and let your winners run', depending on your vocation (horses, football, financial spread betting) I couldn't tell you whether that is sound advice or not, how many positions are cut short and then win versus how many look like winners but go on to lose? - it feels to me were the prices efficient those would most likely even themselves out (lucky wins versus bad beats if you will).

As for the value?, £1800 on a Brazilian Youth Game - I've never forgotten it ;-).
By:
allo
When: 13 Mar 17 15:40
yup its about discipline .without it this game is a rollercoaster
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