Charting and not knowing what i am doing.

[malgilb]

Hello all.

I am still new to Bet Angel.

I have watched dozens and dozens of video's made by Peter and appreciate all the hard work he puts into them to help members.

I am losing money hand over fist due to my own stupidity and blame no-one else.

As i say i have watched many videos and am trying to learn how to trade.

I ask the question how do the video's on charting help if you don't know how to read them and what to look for?

Can Peter be asked whether he can make some video's explaining how to read the charts and what to look for.

Can anyone direct me to any area of the support pages on the Bet Angel or YouTube video's that would help me understand charts?

i would appreciate any input by other members about where i can find resources free/or paid to learn more about charting and how to use them.

Thank you in advance.

[Dallas]

The advanced charts Bet Angel uses are the same types of charts used in financial markets so doing a google search on there various names like 'RSI' or 'MACD' Chart will return dozens of pages explaining what they are and how to read/interpret them etc

[Bluesky]

I am losing money hand over fist due to my own stupidity and blame no-one else.

I would strongly recommend you cut right down on your stake size or even switch to practise mode for a while until you have some idea what you are doing. No point losing lots of money trying to do all this, if you can use small stakes and still take it seriously then that will keep you in the game long enough to hopefully find your edge.

Regarding advanced charting, I am sure some traders use them to good effect, but almost all the profitable traders I know don't use them they just use the ladders and BFs standard charts.

I found it was exactly the same when I used to trade financials. The more bells and whistles somebody used to trade with (MAs, MACD, RSI etc.) the less likely they were to be profitable.

[stueytrader]

Law of diminishing returns in adding those bluesky?

Or even, that you move so far away from what the average trader/punter is looking at that your complex analysis fails to fit the real world market...?

[Derek27]

I'm not a big time trader by any stretch of the imagination but I make consistent profits and have never used charts, just the Betfair graph.

I've recently started looking at charts while trading to see if they can be informative but I certainly haven't changed the way I trade or placed trades based on chart information that I wouldn't have otherwise.

My advice is use them if you find them helpful but don't waste too much time trying to find a use for them.

[Derek27]

I am losing money hand over fist due to my own stupidity and blame no-one else.

I would strongly recommend you cut right down on your stake size or even switch to practise mode for a while until you have some idea what you are doing. No point losing lots of money trying to do all this, if you can use small stakes and still take it seriously then that will keep you in the game long enough to hopefully find your edge.

I couldn't agree more with Bluesky. A £50 bank is all you need to practice trading with the £2 minimum stakes to see if you can find an edge and increase your bank, and will acheive the same objective as using a lager bank and risking more money.

[Dinkydid1]

I am still new to Bet Angel.

I have watched dozens and dozens of video's made by Peter and appreciate all the hard work he puts into them to help members.

I am losing money hand over fist due to my own stupidity and blame no-one else.

I have the same problem mate I have lost loads of cash and i have only used £2.00 stakes for anyone to say you can't lose much with £2.00 stakes is wrong. because i have lost over £400.00
my problem is the same as yours i am not afraid of making a trade the trouble is i do not understand what i am doing wrong.
I have somehow acquired a Jackal and Hyde approach to Bet Angel

Mr Jackal whispers in my ear There's No Fool Like an Old fool a man in his seventieth year should have more Bloody sense it's all a con. Have you lost your marbles?

Mr Hyde whispers in my ear I might be nearly Seventy and i still have my marbles There is something in this trading lark but how the bloody hell do i get it right. I know i have had some good trades but lost it all through bad mistakes
if only I could stop making them i would be alright

That was Saturday

Today Zero in my bank again! oh dear

"What are you going to do now Mr Hyde"

Thinking of taking the course it's only £399.00 can't do any harm Mr Jackal.

That takes the biscuit Mr Hyde

I thought you had a SLATE LOOSE but i THINK THE ROOFS COME OFF

OH shut up Mr Jackal

Wished I knew what to do

[Derek27]

I have the same problem mate I have lost loads of cash and i have only used £2.00 stakes for anyone to say you can't lose much with £2.00 stakes is wrong. because i have lost over £400.00
my problem is the same as yours i am not afraid of making a trade the trouble is i do not understand what i am doing wrong.

If you have a £50 bank, you can't lose more than £50. A £2 trade that goes wrong isn't likely to lose much more than 50p if you green up, so you should get over a hundred trades with it. If you lose your £50 bank, you need to consider whether it's worth refunding your account and persevering with trading, or switching to training/practice mode where you're not risking any money.

[Dinkydid1]

Perhaps just packing it up give it up as a bad job

[ShaunWhite]

Wished I knew what to do

How long have you been trading ? ruthlessimon once posted this (below) and I didn't see many people saying it was wrong ... Obv not set in stone but a fair representation.

[Korattt]

I use Advance Charting, have my own settings, know what to look for & when, absolutely swear by them now, just love the feature

[Derek27]

I use Advance Charting, have my own settings, know what to look for & when, absolutely swear by them now, just love the feature

Any chance of sharing your knowledge of what to look for and when, which I believe was the point of this thread ?

I've started integrating advanced charts onto my ladder a while ago and experimented with a few different indicators, but I've gradually starting ignoring them and looking at the ladder.

[Korattt]

just play around until you get something that you’re able to use, you’ll find certain markets will offer very similar shapes

[ruthlessimon]

Guess I'm one of the few who only uses the ladders these days, with the odd sound alert. I reckon if I was wearing those eye tracking glasses the following would be pretty accurate