Whats your best pre-race advice when looking at the market?

The sport of kings.
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elecotop
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My advice from only trading from November is to watch where the money is being matched and in what proportion.

What best advice would you give when looking at a pre-race market?
Trading96
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Specialise
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Derek27
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It's a very wide question and it all depends on your style of trading. Traders with different styles will have different approaches and be looking at different areas.
spreadbetting
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My advice would be to get a more interesting hobby than trading. If you're doing it for money a few hours overtime will be much more profitable.
iambic_pentameter
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Focus on the bigger picture - accept that you need to go through multiple market cycles before you will fully understand what is happening and why.

A significant part of my knowledge has come from reading the posts of others on this forum.

Iambic
mobius
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Record your screens. There's a section on the various Recording s/ware in the forum. I can record a days trading (say 8hrs) replay at 4xspeed(whilst recording again) and then replay at 16x - patterns emerge use the countdown time alongside the windows clock(to keep your sanity) and don't drive large/fast vehicles ..or even worse Bicycles!!! - it screws your eyes up. :lol:
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Derek27
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spreadbetting wrote:
Sun Feb 03, 2019 12:51 pm
My advice would be to get a more interesting hobby than trading. If you're doing it for money a few hours overtime will be much more profitable.
What could possibly be more interesting than trading? ;)
eightbo
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Look for confirmation before pulling the trigger.
elecotop
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iambic_pentameter wrote:
Sun Feb 03, 2019 1:17 pm
Focus on the bigger picture - accept that you need to go through multiple market cycles before you will fully understand what is happening and why.

A significant part of my knowledge has come from reading the posts of others on this forum.

Iambic
I find that JollyGreen's post a very informative. Which posts do you find most helpful?
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ShaunWhite
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mobius wrote:
Sun Feb 03, 2019 1:32 pm
I can record a days trading (say 8hrs) replay at 4xspeed(whilst recording again) and then replay at 16x
What software are you using to replay your recordings? There's a ton of recording software out there but very few decent players. Windows media player and VLC are pretty poor when it comes to speed control, especially a nice controllable frame by frame fwd/back slo-mo. I can't find anything that's even as good as a VHS player and this is supposed to be the future. Even PVRs lack decent transport controls.
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ShaunWhite
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elecotop wrote:
Sun Feb 03, 2019 4:10 pm
I find that JollyGreen's post a very informative. Which posts do you find most helpful?
Post from people who have the same trading style, personality, objectives, interests and approach as I do. What suits you and what suits other people aren't likely to be the same.

As an example, lots of people supplement their technical analysis with a keen interest in fundamentals. Eg Peter and tennis, he knows the players and how they're likely to respond to certain situations. I don't follow tennis so that approach is wrong for me. His manual trading of horses isn't as reliant on fundamentals (aside from the odd market behavior/trainer observations) so that's more interesting, but again it's not a perfect fit because I don't find watching the ladders for 30+hrs a week and a social life dictated by the major events calander appealing.

Before being swept along by someone who can tell a compelling and interesting story full of sage advice, however good it may be, ask yourself; What type of trader do you want to be? What's your attitude to money/time? What skills have you brought to the table? What related interests do you have? What's your temperament like, your attention span and boredom threshold? Is this something you plan to do for years or for decades? How much money are you prepared to invest? I can't tell you how much time I wasted early on by following people who were successful using their own specific approach rather thinking about the trader I wanted to be.
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ruthlessimon
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ShaunWhite wrote:
Sun Feb 03, 2019 5:32 pm
it's not a perfect fit because I don't find watching the ladders for 30+hrs a week and a social life dictated by the major events calander appealing.
I think Peter just loves to pull that +ve slot machine; which is more valuable than some basic small talk ;) !

I'm the opposite; I wish the major events could dictate my year :mrgreen:
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ruthlessimon
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elecotop wrote:
Sun Feb 03, 2019 1:39 am
What best advice would you give when looking at a pre-race market?
If you're struggling to trade intuitively, get into data asap

For me, this meant devin' my own backtesting sims in excel - meaning I can quickly switch/adjust variables on the fly (what happens if I back a Mdn? what happens if I back Cheltenham?)

Is it a magic bullet, no. But it can spot fascinating patterns

For example, the one I'm working on today (below). I didn't spot this, excel spotted it by doing random iterations - which worries me if AI becomes good :|
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ShaunWhite
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Well that's Christmas week sorted for you. Just 51 other strategies to find. :D
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ruthlessimon
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ShaunWhite wrote:
Sun Feb 03, 2019 8:02 pm
Well that's Christmas week sorted for you :D
Yeah. Baked beans all round :)
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