Crazy £100 Challenge

[shadowninja]

Well, thanks to you, Keefter, I've lost yet more money. 25% of my bank gone.

YOU OWE ME 13p!!! evil

[Keefter]

Is Paypal okay?

[shadowninja]

Knowing my luck, I'll get charged commission, minimum 50p fee.

[inandout]

My point was that anyone can pick one good trade out and post that on youtube the 'Look at me, look at me give me your money and I'll show you how to do it' type. Putting up a full session at least shows the ups and downs and the amount of work that goes into a days trading and that it's not just a back at 3 lay at 2.5 and light up a cigar thing.

[StuT]

Keefter - When you scalp/trade horses in running do you watch or listen to the race or do you just watch the markets on the ladder to spot movements.

Nice work.

[Keefter]

Keefter - When you scalp/trade horses in running do you watch or listen to the race or do you just watch the markets on the ladder to spot movements.

Nice work.

I watch the race either via BFLV for ATR tracks or RUK but tbh I'm mostly listening with the occasional glance at the screen. Its hard to watch your positions and the race at the same time. My style is far more suited to jumps racing for that reason. Big Field sprint handicaps I tend to keep stakes very small or not bother. For flat racing I do do a fair few B2L's or L2B's you can speed map a race fairly quickly if they are handicaps, Maidens not so much for obvious reasons.

[lcredd]

I watch the race either via BFLV for ATR tracks or RUK but tbh I'm mostly listening with the occasional glance at the screen. Its hard to watch your positions and the race at the same time. My style is far more suited to jumps racing for that reason. Big Field sprint handicaps I tend to keep stakes very small or not bother. For flat racing I do do a fair few B2L's or L2B's you can speed map a race fairly quickly if they are handicaps, Maidens not so much for obvious reasons.

It sounds like you have many strategies which suit different races. You are on a completely different level of trading than me, that's for sure. Keep up the good work.

[shadowninja]

Was that even in English? Ahm oot!

[Keefter]

Well that was an interesting few days, My run on the Greyhounds is nothing short of a disgrace right now, getting shafted in every market, thats a huge minus considering my small bank. Hopefully I can improve on that over the next few evenings with the televised tracks. Oh and I also go this email:

Dear Keefter,

As a result of your recent turnover on the eligible Australian markets, the transaction charge due is £19.22.

Whats happened is that one of the meetings I was trading I thought wasnt in an eligable state becuase I confused the name of the track with another place, My bad, that £19.22 will have to come off the bottom line now. I'll be far more careful this weekend.

I've withdrawn all bar £25 as I have a feeling today could be ropey, if it goes badly I'll top up the bank from the profits so far but first i'll try to get the £25 increased.

Profit so far: £541.49
New Bank: £25

[marra]

Bang on these challenges that you do Keefter especially with you showing your neg trades :Thanks
From been confident in your system how long was it before you became confident in letting trades run on for more profit?

[Keefter]

Bang on these challenges that you do Keefter especially with you showing your neg trades :Thanks
From been confident in your system how long was it before you became confident in letting trades run on for more profit?

That hugely depends on the day and how the markets are trading more than my confidence. Sometimes you get decent liquidity and runners will hit high extreme highs or lows in running when they probably shouldnt and you can get away with holding for a bigger green, days much like today is you can't because the winner straight lines to 1.01 and the losers all the way to 1000 in the blink of an eye. I usually spend the first hour just working out what the best approach is.

Having cofidence to allow trades to run also depends on your attitude to losing. If you could have taken £5 green and you let it run and end up with nothing are you going to be pissed off with yourself and lose your rag? I tend not to be that bothered because i'm fairly sure my approach works out more profitable in the long run. BUt it does depend what mood I'm in.

[marra]

Cheers,that made sense,especially as alot of my biggest loses/mistakes come in my first 7/8 markets or straight after a big win i'll enter a market trying to replicate what ive just done even if its Tipp or some other piss poor race.. My attitude is very good now,what makes me shake my head relentlessly though is when i re-enter a trade after a loss trying to catch some movement.

[Keefter]

We all have horrible habits that we persist with time and again, I'm certainly no exception. I could list them but I doubt there is server space for that lol. Something i do time and again and cant stop is adding to losing position, saw some 50-1 outsider sets off in fornt and I back it for £5 and it then drifts to 80-100 I back it again and again thinking i'm getting value and more often than not the market is correct. Likewise with a short priced favourite, say its even money and the race starts and after a furlong its 1.60. nothing material has changed and I wonder why the hell people are backing it now and such reduced odds only 10% into the race so i start laying it. Those are two things i nee dto quit with.

Its very difficult to not chase losses for anyone, I dont care who you are. Its not big losses that wind me up the most though. WHat really sends me over the edge is missing a big win, say I back something at a price and have a lay in at 1.87 to hedge for £100+ and it trades to 1.93 in the closing stages and I miss out by a few ticks. That could send me on a mini-tilt quite easily.

[PC0845]

Hey there, apart from the results, the admission of bad habits and stupid behaviour is one of he main things that can be learnt here.

I tried for ages to become the ideal trader and lost a fortune, I'm not winning much now and long term am still down a fortune, but after the final realization that nobody gets it all right, even the great go on tilt so I have finally stopped punishing myself.

Guess what ? My results have improved, I'm trading loads of stuff, no technical analysis, just entry points that have proved rewarding in the past and hopefully will in the future.

You are obviously very competent without being a robot. The best thing I did was limit my deposits to €25 per day as per the tin pot trader. I make regular withdrawls as I know I will go on tilt or have a stupid trade or, a fat finger event while in running. Max bank I leave in now is €200 and that is more than enough. I do like to have a min of €100 for pre race trading.

Anyway, what I'm trying to say is that your honesty and admissions of errors has removed this concept of the perfect trader and mindset I had envisaged that was required. It aint rocket science but a little self awareness is more important than some all encompassing strategy that I will never find.

My deposits for the past 2 weeks are 400 less than my withdrawls and my bank now is about €175, so I'm gonna continue.

I can guarantee you that if I had not made regular withdrawls my bank would be zero and I would have had a major meltdown by now. I have had mini ones, gone on tilt, but I'm still about 575 up for the last 2 weeks from a €25 starting bank. I feel great, and thanks to you I wont feel crap when I have another "event". You are the man, keep it up.

[Keefter]

Hey there, apart from the results, the admission of bad habits and stupid behaviour is one of he main things that can be learnt here.

I tried for ages to become the ideal trader and lost a fortune, I'm not winning much now and long term am still down a fortune, but after the final realization that nobody gets it all right, even the great go on tilt so I have finally stopped punishing myself.

Guess what ? My results have improved, I'm trading loads of stuff, no technical analysis, just entry points that have proved rewarding in the past and hopefully will in the future.

You are obviously very competent without being a robot. The best thing I did was limit my deposits to €25 per day as per the tin pot trader. I make regular withdrawls as I know I will go on tilt or have a stupid trade or, a fat finger event while in running. Max bank I leave in now is €200 and that is more than enough. I do like to have a min of €100 for pre race trading.

Anyway, what I'm trying to say is that your honesty and admissions of errors has removed this concept of the perfect trader and mindset I had envisaged that was required. It aint rocket science but a little self awareness is more important than some all encompassing strategy that I will never find.

My deposits for the past 2 weeks are 400 less than my withdrawls and my bank now is about €175, so I'm gonna continue.

I can guarantee you that if I had not made regular withdrawls my bank would be zero and I would have had a major meltdown by now. I have had mini ones, gone on tilt, but I'm still about 575 up for the last 2 weeks from a €25 starting bank. I feel great, and thanks to you I wont feel crap when I have another "event". You are the man, keep it up.

You will never trade perfectly. Everyone of us is flawed, its about trying to look at your trading objectively and then reduce the losses and and increase the profits, but you'll never erradicate losses entirely, and if you do then you're probably too risk adverse and your potential profit overall has taken a hit just so that you can say "hey i managed to trade all 21 races today and had zero losses" I'd rather have accumulative losses on a day of £300 and overall profit of £200 than i would have zero losses and make £100.


Like you I always limit my bank for the same reason. My results do not change whether i have a £200 balance or a £2000 balance. not by much at least. I work better growing a small bank and I'm forever putting money in and out of BF, check this out, I've had this card almost 3 years bear in mind:


Total Deposits: £253,691.72
Total Withdrawals: £349,564.72
Net Deposits: £-95,873.00