From Gambler To Trader But With A Big Edge

[LinusP]

I think your best way forward in whatever you do is to learn to accept the losers, understand why you have losers...

Here's an example: I only look at my trading balance once a week, If you asked me what my profit was two races ago unless it was spectacular I wouldn't be able to tell you.

So how does this work?

By not looking at my balance I am completely eliminating small cycles of winners and losers, which is having no effect on my mental stability.

When you know youve had 4 losers on the trot, it can get to you.

Yes but what you said in the first paragraph is contaradicting the second. How do you learn to accept losers / understand them if you don’t even know / ignoring the fact that you have had them?

[mhorro]

Everyone thanks for your comments.

I automate my process on horse selections and then firing the trades into Betangel via automation.

I love this as it gives me time to spend on other things outside of racing.

I do not want to sit in front of a computer screen all day. I have spent so much time on clients sites in the past when in business doing this!

So basically I am looking for a automation process that is devoid from emotion as well.

PS: My wife puts all my horses in a Betfair multiple on her account every day so I am not totally away from it!!!!

Thanks,

Mark

[ruthlessimon]

Yes but what you said in the first paragraph is contaradicting the second. How do you learn to accept losers / understand them if you don’t even know / ignoring the fact that you have had them?

Solid +1

[mhorro]

I have access to Betfair in-play data so can I can check my horse selections for any given day against Betfair in-play data too see what was the minimum price in-running of my horse selection.


I use native SQL against a commercial database on my own computer that holds 10+ years of every horse race across the world.

This database is bespoke as I wrote it and the data marts I use to get my horse selections via SQL.

This data feed is updated every day!

[SeaHorseRacing]

So how does this work?

By not looking at my balance I am completely eliminating small cycles of winners and losers, which is having no effect on my mental stability.

When you know youve had 4 losers on the trot, it can get to you.

Yes but what you said in the first paragraph is contaradicting the second. How do you learn to accept losers / understand them if you don’t even know / ignoring the fact that you have had them?

Ah good point Linus
Reading it back is very contradicting.

For me the way I accept winners and losers is by eliminating any type of emotional effect they have on me, one by not concentrating on short term p &ls.

If your to not to aheard my advice, understanding short term profit and losses and likely winning and losing runs will stop an emotional attachment.

Its not easy to accept, but ignoring my p & l did wonders.

[spreadbetting]

It's quite funny I do not have the stress anymore if the horse comes 2nd etc. as if it runs well I have my money ( Green ).

So you sacrifice profit so you can sleep better? Also not quite sure what the point of this thread is.

I think the point is he's also increased profit by simply using a green offset, I'm sure many of us would love to be able to obtain value bets on both sides of a trade, especially automated.

I have now stopped gambling and now trade these horses in running with green offset and I must say my nerves are better and profit as increased.

Plus I can easily automate this strategy with nominated runner.

[napshnap]

I think what trading does is a flattering of gains and losses, but it can damage our potential profits if our closing bets are not so value as initial value opening bets.
It's surprises me that the topic starter doing better with trading rather than betting. Congratulations anyway!

[SeaHorseRacing]

After 6 months of trading back in Feb 2016.

Looking into detail on my results, if I had not blown my banks through gambling I would have done miraculously.

There were multiple reasons why they occurred. My aim was to control the outbreaks of reckless behaviour, the reckless behaviour happened because I couldn't accept my losses.

Learning to ignore my bank balance was one step towards overcoming a damaging fault of mine along with other changes.

[ShaunWhite]

I'm reading the apparent contradiction as a two pronged attack. Yes becoming indifferent to wins and losses is the ideal but not having them front and center makes that easier. You can stop being a drinker but it helps if you don't get a job behind the bar.

[mhorro]

Thanks everyone for the comments. Remember I am 50+ so I am not has sharp as I used to be. I get this off my 20 year old kids every day!

Funny they always ask me for money to pay their bills!

Millennials no thank you!

[SeaHorseRacing]

I think this topic is very important to traders who are struggling.

I have many years been into gambling, I came to trading because of the potential to make some serious money!

Over the years I have won and lost a fortune prior to trading, I thought trading was they key to where people only really made money.

What I learned was the fundamentals in learning to trade are the fundamentals to becoming successful in gambling. I never knew fundamentals in gambling existed. Go to any other betting forum, its all about picking winners. Picking winners is nothing. Picking value is nothing. Its everything else, money management, staking and discipline which is key.

Its just trading requires you sitting at a desk like a real job, its just the skills learned are the same needed in betting for a living.

I eventually learned, trading or betting, it really doesn't matter, its just trading taught me what it requires to make both of them pay. So for trading and this forum, I am extremely gracious.

[napshnap]

By the way, you trading guys can do this interesting thing:
download youк 3 months bets history from your bf account and then just play with this file in excel a little, like filter yor markets, bet side (back-lay), and other stuff. This can be very interesting and may surprise you cause it allows you to look at your trading from betors perspective. Like past week when this crazy asshole started to bomb at southwell, i sat at place market and got away with agly -300 red, i downloaed my bets history then and what do you think I could make like 3k+ if i just left that stupid nonsense market alone!
Btw remember that profit in bets history is pre-comission.

[napshnap]

Yeah, yeah, you keep telling us SeaHorse, we just don't have those "phone friends" who recommend us to bet on this Italian horse with the 50-100 price, I don't remember exactly what price it was.

[SeaHorseRacing]

Yeah, yeah, you keep telling us SeaHorse, we just don't have those "phone friends" who recommend us to bet on this Italian horse with the 50-100 price, I don't remember exactly what price it was.

When I used to work in the racing yards, All I did was talk to other grooms at different yards whe I was at the races and got connected as best as I could. You be surprised how open and willing assistant trainers are. I've learned some hard lessons because most of them are useless but there's a few I know who a really good and give very accurate opinions. Some yards know nothing about there chances where some trainers are really open to their staff.

[Halliday]

I think this topic is very important to traders who are struggling.

I have many years been into gambling, I came to trading because of the potential to make some serious money!

Over the years I have won and lost a fortune prior to trading, I thought trading was they key to where people only really made money.

What I learned was the fundamentals in learning to trade are the fundamentals to becoming successful in gambling. I never knew fundamentals in gambling existed. Go to any other betting forum, its all about picking winners. Picking winners is nothing. Picking value is nothing. Its everything else, money management, staking and discipline which is key.

Its just trading requires you sitting at a desk like a real job, its just the skills learned are the same needed in betting for a living.

I eventually learned, trading or betting, it really doesn't matter, its just trading taught me what it requires to make both of them pay. So for trading and this forum, I am extremely gracious.

I just can't see how you can separate your gambling from your trading .. no matter how much you say you do .. and the fact your making both pay is astonishing .