General Advice for all newbies
There's a reason that I don't often read this forum and this thread sums it up completely. For anyone even thinking of learning to trade I would suggest staying away from here due to the negativity spewing forth from half the posters and 40% alluding that trading is a mythical skill akin to Sorcery or something so complex that you need a degree in Probability and Statistics.
I appreciate that Trading isn't easy but you sound like the people that Peter talks about in his videos- "No it can't be done, it's impossible, forget it". You all seem to want it to be this Rubik's Cube x Pi that mere mortals cannot solve and shouldn't even attempt. No disrespect to the guy, but if Caan Berry can make a living trading then a lot of people can.
I appreciate that Trading isn't easy but you sound like the people that Peter talks about in his videos- "No it can't be done, it's impossible, forget it". You all seem to want it to be this Rubik's Cube x Pi that mere mortals cannot solve and shouldn't even attempt. No disrespect to the guy, but if Caan Berry can make a living trading then a lot of people can.
Last edited by Dave C on Fri Nov 10, 2017 11:36 pm, edited 1 time in total.
Good man. That's more like it.Korattt wrote: ↑Sat Aug 05, 2017 11:25 amwith regards to pre race trading on the horse racing win markets, if you really want this.. to succeed and make profit then you can, it can take a couple or more years to work out what works & what don't, and even then you need to work on your mistakes, you can do it, just takes a lot, a heck of a lot of blood, sweat, desk bashing & tears
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iambic_pentameter
- Posts: 443
- Joined: Wed May 18, 2016 1:24 pm
It's probably been mentioned in the thread already but discipline is so important.
Case in point for me, is that I've had a shocker today in terms of reading the markets, selections not trading as low in running as I'd thought - based on my research and previous runs. Everything I touched, turned to red.
It wasn't that long ago that I'd chase those losses but just over half an hour ago, I logged off Bet Angel and will come back tomorrow.
My thought process was:
1) Loses are part of the game
2) If I chase those losses, I'll likely lose a lot more and that will affect my trading bank - my objective is to protect that bank
3) If I was a professional trader relying on this for my income, would I chase the losses? Of course I wouldn't so do what the professional would do.
I am by no means the finished product but I hope that any newbies see this and understand that discipline is a huge part of trading.
Iambic
Case in point for me, is that I've had a shocker today in terms of reading the markets, selections not trading as low in running as I'd thought - based on my research and previous runs. Everything I touched, turned to red.
It wasn't that long ago that I'd chase those losses but just over half an hour ago, I logged off Bet Angel and will come back tomorrow.
My thought process was:
1) Loses are part of the game
2) If I chase those losses, I'll likely lose a lot more and that will affect my trading bank - my objective is to protect that bank
3) If I was a professional trader relying on this for my income, would I chase the losses? Of course I wouldn't so do what the professional would do.
I am by no means the finished product but I hope that any newbies see this and understand that discipline is a huge part of trading.
Iambic
not that I'm no expert at trading looking back I really was trading like an idiot back then
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ruthlessimon
- Posts: 2094
- Joined: Wed Mar 23, 2016 3:54 pm
People can't accept it because they underestimate what it takes to be a top trader. It's the same with the best in any industry - specifically top sportsmen. Lets take an F1 driver. He has practised on a race course for so long, he doesn't need to look at the speedometer & think about what gear to be in. He can "feel" the speed & the gear he needs to take each corner.
This "feel" is pure intuition - but people mistake it for sorcery - it's not. Intuition is based on pure falsifiable edges. Like stabilisers being removed from a bike. You have simply outgrown them.
A trading example, you have outgrown the need to use the WOM indicator. You can just "feel it" in the market. The outsized stakes, the pulling of orders etc. & you will have a speed edge over everyone who is not at your level yet (those still chasing the indicators)
ruthlessimon wrote: ↑Mon Aug 07, 2017 8:38 pmThis "feel" is pure intuition - but people mistake it for sorcery - it's not. Intuition is based on pure falsifiable edges. Like stabilisers being removed from a bike. You have simply outgrown them
Funny you say that, was trading on the laptop last Friday night instead of my screens, hardly looked at a graph due to limited screen space & did rather well, it actually felt as if I instigated a couple of moves but that must've been a coincidence, maybe I got on just at the right time..
Although there are a few exceptions I think most of the posters on these forums tell it like it is. It is possible to become a profitable trader, but most people will fail. For the ones that do succeed it will generally take at least a year and probably longer. A tiny amount of people will be successful from almost day one, these people are very rare and are in my opinion gifted. Just like top footballers are gifted, they would have been good at football from when they first started playing.Dave C wrote: ↑Mon Aug 07, 2017 3:06 pmThere's a reason that I don't often read this forum and this thread sums it up completely. For anyone even thinking of learning to trade I would suggest staying away from here due to the negativity spewing forth from half the posters and 40% alluding that trading is a mythical skill akin to Sorcery or something so complex that you need a degree in Probability and Statistics.
I appreciate that Trading isn't easy but you sound like the people that Peter talks about in his videos- "No it can't be done, it's impossible, forget it". You all seem to want it to be this Rubik's Cube x Pi that mere mortals cannot solve and shouldn't even attempt. No disrespect to the guy, but if somebody else can make a living trading then a lot of people can.
Get your heads out of your arses.
I think its only fair to let people know who are looking to come into trading (often to escape from a low paying and or stressful job) that although its possible to succeed, to become successful is very likely to be one of the most difficult things they have ever done. The rewards however can be enormous and if they never try then they will never know if they might become part of the 5 odd percent that succeed long term.
I started football trading when i signed up to pre match trading about a year and half ago but blown a big bank with small stakes quicky then tried rta on the same site and did the same, i realized after i should have done a trading course or spent more time learning before as you just get eaten alive in the markets otherwiseludite wrote: ↑Sun Aug 06, 2017 11:15 amI have been trading mostly tennis on here since starting in April , & have made a good start . But now the football season has come round I'm thinking of using one of the subscription sites such as Pre match trading .com to give me a good start to the season . Can anyone reccomend one thats good value please ?