I have only started trading 2 weeks ago semi full time. I'm currently using The Geeks Toy and personally i think it is amazing, you can modify it to your needs. As i only started trading properly 2 weeks ago, i have chose to start out with minimum stakes (£2), in order to get used the geeks toy first of all and just to get a feel for the market.
In the past 2 weeks i have picked up so many rules, which i scribble down on a notebook next to me when trading, i also keep a note of every trade i do, what time, what course and how much i closed out at +/-.
Starting off, Day 1, i traded 10 races and made a profit of 27p :D. I managed to profit from 7 of the 3 races and was quite happy with my very first day. However whenever there is just one loss, there is something to learn from there. My first loss, and my biggest loss of Day 1 was -46p, this loss came down to me letting the race go in-play, so this got scribbled down straight away in my notebook of wisdom! (RULE ONE: DO NOT LET THE RACE GO IN-PLAY!!)
My next to successive days however showed a loss, Day 2 (-25p) and Day 3 (-£1.90). My Day two was going swimmingly, i in total traded 25 races that day, i was on a 12 race winning streak and my confidence was high, so i decided why not try my hand at Greyhounds to, however the one thing that i forgot to do was to figure out what trading dogs was like in comparison to trading on horses. My first ever time trading dogs, i managed to come out with a £2.19 loss :(..i was over the moon as you can imagine. The reason for such a big loss was because i didn't know that greyhounds don't go to a in-play market (which i shouldn't have been going anywhere near according to RULE ONE!!!!) This loss shook me for quite a bit and i became over cautious, i then went on for next 8 races (trading on them all), only managing to come out with £0 every race, this was because i didn't trust my instincts after my previous loss. (RULE TWO: BE CONFIDENT and research the market your going to trade in before trading in it jackass!) However i went on to scrape back most of that loss and ended the day with a 25p loss. Which i was happy to take after "the dog incident". Day 3: This day yet again gave me some great rules to scribble down in anger on my notebook. I traded 10 races this day. I ended the day early because of one loss in a Brighton race. I backed the favourite @ 1.8, from analysing the graph and seeing the WOM (weight of money) was going in my favour. However! The horse started to drift slowly, it was just like a out of body experience, i could see the horse was starting to drift, but i convinced myself it would come back down, it had to right!! 2, 2.1,2.5, 2.8 GET OUT!!! It continued to drift out, so silly me decided to let it go in-play and make my money back that way :) oh clever me! The horse went on and won the race and i swear i saw him give me a wink...
Anywayyy i have to shorten this post as my girlfriend is getting restless! However here are some more rules that i have picked up and had the pleasure of scribbling in my little book (even though i already knew all these "rules", i think i just had to make the mistakes to actually instill them in my memory bank)
RULE THREE: TAKE YOUR LOSSES!!! but just try and minimise them
RULE FOUR: ONLY WATCH THE RACE UP UNTIL YOU ARE DONE TRADING, preferably around 20 seconds before the off or so, depending on your preference.
I feel that this rule will detach myself from my bias punter ways and not look at it as a gamble.RULE FIVE: MAKE SURE YOU ENTER THE MARKET AT THE RIGHT TIME! watch that money!
That's all i can think of for now but I'm sure i will think of more in my later posts.
The rest of the days i traded i managed to make everyone profitable, by sticking to my rules and being confident about what i was doing, i even managed to up my stakes to £5 and £8 depending on the race.
I will try to get some screenshots up sharpish, does anyone know if you can upload excel spreadsheets up here as i am keeping my trading logged day by day??
On a side note i have started dabbling in trading football and tennis and am loving it! Laying the draw is my favourite (in the right matches, RESEARCH WHAT YOU ARE GOING TO TRADE), also a fan of the under/over 2.5 goals market.
Anyway that's enough sorry for wrecking your brains! Posts will be more concise in future.
Rock n Roll peaches.
x
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