Losing strategies wanted

Learn sports betting strategies and discuss key factors to consider when placing a bet.
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Euler
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Over the years I've studied the markets and a number of strategies. But all of these have been focused on winning.

I recently turned my attention to why people lose, the psychology behind that, but also what fundamental flaws they have with their approaches in the market.

If you mess around at random you should over long periods break even, less the spread or commission that you pay to the service provider. However, when I look at a lot of people that lose money, they seem to constantly exceed that.

So if you have an approach, preferably a systematic approach, that constantly loses money. I'm quite interested in hearing about it. Football is a nice sport for this as it contains only a few variables.

You don't have to post it here, but if you register your interest I will get in touch.
Iron
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Joined: Fri Dec 11, 2009 10:51 pm

Here's one to get the ball rolling.

I haven't backtested it, but as it's based on the principle of cutting profits and letting losses run, I'm pretty sure it will lose money.

A. Open by taking the available price - it doesn't matter if you back or lay.

B. If and when you're in a position to make a single tick's profit by taking the available money, do so.

C. Otherwise, just sit tight until the just before the off (at which point you close by taking the available price).

A sure fire way to the poor house! :lol:

Jeff
Alpha322
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Joined: Fri Oct 30, 2009 4:45 pm

Ferru123 wrote:Here's one to get the ball rolling.

I haven't backtested it, but as it's based on the principle of cutting profits and letting losses run, I'm pretty sure it will lose money.

A. Open by taking the available price - it doesn't matter if you back or lay.

B. If and when you're in a position to make a single tick's profit by taking the available money, do so.

C. Otherwise, just sit tight until the just before the off (at which point you close by taking the available price).

A sure fire way to the poor house! :lol:

Jeff
The good old days :mrgreen: :mrgreen:
mister man
Posts: 363
Joined: Tue Jul 27, 2010 2:10 pm

man oh man...and i get accused of negativity...

pot kettle and black...

Just when you think things can't get any worse.
Iron
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On the contrary, Mister Man, knowing what doesn't work takes you closer to working out what does work!

Peter has said previously that, to be profitable, all you need to do is eliminate obvious errors, so there's something to be said for a thread where obvious mistakes are pointed out...

Jeff
mister man
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Joined: Tue Jul 27, 2010 2:10 pm

ok, maybe unlike you i just dont find that funny....

"A sure fire way to the poor house! (smiley laugh)

Jeff"



but im glad the positivity of failure can be harnessed by all..

It's easy to stop making mistakes. Just stop having ideas. If at first you don't succeed, you're running about average.
xpaul
Posts: 32
Joined: Sat Jan 30, 2010 12:47 pm

Great idea. Way better than asking what’s the winning strategy.
The only problem I see is that some people who think that they have loosing strategy just not trade often enough to break even. So basically they don’t have any strategy at all and they are just at random losing streak at the moment.
But it should be easy to spot.

Paul
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Euler
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Ferru123 wrote:Here's one to get the ball rolling.
OK, if the trade is successful do I repeat the trade or just leave it at one per market?
Iron
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Joined: Fri Dec 11, 2009 10:51 pm

The more poor trades you make per race, the quicker you'll lose money.

So let's be 'minimally aggressive', and repeat the trade if it's successful!

Jeff
Euler wrote:
Ferru123 wrote:Here's one to get the ball rolling.
OK, if the trade is successful do I repeat the trade or just leave it at one per market?
freddy
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Joined: Sun Aug 01, 2010 8:22 pm

Backing and laying simultaneously at the current back and lay odds is a good way to lose money :lol:
freddy
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Ferru123 wrote:The more poor trades you make per race, the quicker you'll lose money.

So let's be 'minimally aggressive', and repeat the trade if it's successful!

Jeff
Euler wrote:
Ferru123 wrote:Here's one to get the ball rolling.
OK, if the trade is successful do I repeat the trade or just leave it at one per market?
Personaly I think you would lose more money with this idea, if you moved on the the next race after you had made just 1 tick.

It a mistake that alot of traders make early on including myself. Lots of small wins then a thumping loss to wipe the days profits out :o

You should stop trading a market imo when there are no more opertunities, not the second you make a small profit, as you may miss out on the market you make 20 ticks.
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MarketTrader
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mister man wrote:ok, maybe unlike you i just dont find that funny....

"A sure fire way to the poor house! :lol:

Jeff"
I think some misunderstanding has happened here! You need to lighten up! ;)

I found this funny. It reminded me of my first taste of trading and the 'sit and hope' method of making a profit.
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Euler
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So, following on from Jeff's suggestion. I created a rules file in the automation, tested it on the first race; then I put the strategy through 22 markets today using £10 stakes. How much do you reckon it lost today?
Iron
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I'll guess that you lost £50 overall, but that's just a stab in the dark!

Jeff
Euler wrote:So, following on from Jeff's suggestion. I created a rules file in the automation, tested it on the first race; then I put the strategy through 22 markets today using £10 stakes. How much do you reckon it lost today?
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LeTiss
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I reckon he will have broken even, or possibly even made a profit.

Peter could eat the world's strongest curry, but his shit would still smell of roses
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