I dont know how much more of this I can take. Day after day of making a few pounds here and there, every day having huge losses that kill my profit and no idea of how to stop them. Some of it is due to the F*cking moron that keeps lumping thousands of pounds on the first 3 runners, maybe my edge has been totally wiped out by this f*cker, I certainly have made next to nothing over the last few weeks. I am making no progress, and every day I have to face the disappointment of wiping out my days profits in 1 or 2 races. Doesnt seem to matter if I back or lay first though, so maybe its not down to him at all.
Dont know where to go from here, Dont know how to turn things around. I am probably just wasting my time.
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If someones lumping thousands on the front 3 and you can't profit from it maybe it's time you stopped wasting your time.
ReplyDeleteNot everyone's cut out for trading and you do seem to take any losses to heart far too much. As for someone wiping out your edge I very much doubt you had an edge in the first place if you believe that, especially if you've made next to nothing in the last few weeks.
Spend some time watching the markets and work out why they move like they do rather than just sticking bets in here and there. There's usually a good reason why you're taking big hits now and then, sure some will just be random movements but most won't. You need to channel that energy from losses into learning from them not kicking yourself every time they happen. Figure out why you're losing and you might just find out how to win ;)
thanks again for your comments.
ReplyDeleteYou are right, I take losses to heart too much, although I am learning ( slowly) to deal with them better. As to why Im taking big hits, it seems very random to me, but as you say, its probably not. I am going to start recording my trading again and see if that helps me work out where I am going wrong.
I agree with Anon in that you are taking the losses to heart to much.
ReplyDeleteHowever, I would fully disagree with his view that with this current person chucking thousands at the market you should give up if you can't make money from it. From what he has said I would be surprised if they have even seen this happen.
I know of numerous very good full time traders who are getting hammered by this person if they are in the market at the 'wrong' time. I myself have been hammered by them.
I don't know of anyone who has found a pattern to it bar the underlying one that it is highly likely that they will change their approach again soon and it is a matter of managing the losses when they come and working hard when they do not show in the market. There are still opportunities to be had but the current behaviour in the market is making this period very tricky to be profitable if you are in the wrong place at the wrong time.
Anon. I would suggest you watch the markets yourself and see how this person is operating and you will see it is very difficult to avoid being caught out by them.
Leon, thanks for the comments and encouragement. I am not going to consider giving up at the moment, as I am still confident I can crack it in time.
ReplyDeleteThanks for the advice Leon, I'm well aware of his presence in the markets and what he's up to. As for being difficult to avoid being caught out I'd say the exact opposite. Maybe you should download a few ebooks out there to see exactly what he's doing ;) But I will agree with you he'll change his approach soon because this one isn't winning him any money.
ReplyDeleteAs for suggesting Neil gives up , some things aren't meant to be taken literally. Sometimes you need to force people to channel their anger elsewhere and if it gets aimed at me by Neil thinking 'I'll prove him wrong' all well and good.
The racing markets are continually changing with new backers/systems coming in all the time you can't rely on old methods working forever and need to adapt almost daily at times. Even if this player disappears a new one will appear in the next week or two that you'll have to deal with. If you want to make a go of it you've got to stop looking for any excuse to blame your losses on.