I need somebody to Punch me in the Head!

Relax and chat about anything not covered elsewhere.
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Kenj
Posts: 1
Joined: Thu Jul 20, 2017 12:32 pm

They say a picture is worth a thousand words. I hope that putting this on the board, so that all can see the biggest idiot on the betting exchanges is ME, will act as some sort of therapy that will stop me doing it, and losing a chunk of my bank, again and again and again and again........
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LeTiss
Posts: 5386
Joined: Fri May 08, 2009 6:04 pm

Well, at least you recognise your biggest problem, and you are trying to do something to rectify it. That's a good start
Alpha322
Posts: 843
Joined: Fri Oct 30, 2009 4:45 pm

LeTiss wrote:
Thu Jul 20, 2017 1:19 pm
Well, at least you recognise your biggest problem, and you are trying to do something to rectify it. That's a good start
I remember the days, do not do inplay that to me you might aswell go give the bookmaker your money again
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jimibt
Posts: 3641
Joined: Mon Nov 30, 2015 6:42 pm
Location: Narnia

Alpha322 wrote:
Thu Jul 20, 2017 1:42 pm
LeTiss wrote:
Thu Jul 20, 2017 1:19 pm
Well, at least you recognise your biggest problem, and you are trying to do something to rectify it. That's a good start
I remember the days, do not do inplay that to me you might aswell go give the bookmaker your money again
10 times over...
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Mr Undercover
Posts: 226
Joined: Thu Nov 03, 2011 7:22 pm

Alpha322 wrote:
Thu Jul 20, 2017 1:42 pm
LeTiss wrote:
Thu Jul 20, 2017 1:19 pm
Well, at least you recognise your biggest problem, and you are trying to do something to rectify it. That's a good start
I remember the days, do not do inplay that to me you might aswell go give the bookmaker your money again
In-Play certainly is the nemesis of many a good trader... avoid it as you would crack cocaine
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

Have you thought about having a bot running that stops you doing it?

Something which sets all your unmatched bets to 'Take SP' and greens up every few seconds while IP will take away the need for willpower, and before you know it, you'll never even think about doing it because it becomes impossible? Even if you make a conscious decision in that moment to 'have a little flutter' you'll be glad your guardian angel is there to stop you being a fool.

It's no replacement for being in control but it helped me early on, and I still run it to help with the inevitable outages. I scatter a few balancing bets at speculative prices and the 'Take SP' automation means I won't be completely screwed if my internet goes down, even if the additional belt and braces of the greening doesn't get though the wires to BF.
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

Kenj wrote:
Thu Jul 20, 2017 1:00 pm
They say a picture is worth a thousand words. I hope that putting this on the board, so that all can see the biggest idiot on the betting exchanges is ME, will act as some sort of therapy that will stop me doing it, and losing a chunk of my bank, again and again and again and again........
Post It.jpg
A few post it notes aren't going to cure your problem, you need to get to the root of the problem and address that. There's nothing inherently wrong about trading in running, you're just as likely to get the odds you were looking for as not getting them. The problem I imagine for you is the fact you'll sit in the headlights when your market goes red and wait it out, whereas as soon as the green comes you're all over it like a rash to close out for any green so your losses are big but profits small. Even the most experienced of traders can;t avoid going in running once in a while so I'd be surprised if you'd ever knock it out completely , just plan ahead for and avoid it as best you can. It's also worth remembering postive affirmations work a lot better than negative ones, maybe replace your post it's with markets where you avoided a big loss by closing out early etc
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gutuami
Posts: 1858
Joined: Wed Apr 15, 2009 4:06 pm

you may as well set up a rule that runs an alarm every time it detects a bet when the market is inplay

this is a good video that explains the nature of loss aversion:

https://www.youtube.com/watch?v=nOX1Hn-bw1k
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gutuami
Posts: 1858
Joined: Wed Apr 15, 2009 4:06 pm

and by the way the word "NO" is not perceived by our brain as some psychologists say. If I would say to you: don't think of a lemon. Your mind would consciously first think of a lemon to find out what not to think of. :) So in theory you should replace those yellow stickers with something different.
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LeTiss
Posts: 5386
Joined: Fri May 08, 2009 6:04 pm

This is a problem that crops up time and time again, so I apologise to those that have heard me say this before. However, the people that have the biggest problems with going 'In Play' are those who have gravitated to trading from being a punter. Those with a financial/analytical background seem to find it easier accepting losses as part of this trading game, punters don't. Punters have always been used to getting a run for their money, so locking out for a loss before an event has even started, is totally alien to them

I was one of them, it's tough to overcome
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