Advice from Full - time Pro Traders

[bazbaz]

Targets = Thinking about money.

Thinking about money = Ego getting in the way of thinking about the markets

Ego getting in the way of thinking about the markets = Poor performance


Its natural to have thoughts about what you'd like to make spring up, same for pros too etc but if you put too much energy into these kind of thoughts you're handicapping yourself

[TheMuntedPunter]

No you won't! What happens if Betfair goes down while you are exposed? Betfair has been down a lot recently and for extended periods at times. You need to remember this and that ultimately you could lose all of your exposure if the worse were to happen and you need to accept this is a risk of trading!

If Betfair goes down, then CC deposit in to BetDaq or the bookies and back the opposing team.

[Leonthefixer]

It may not always be possible to do that - just something to bear in mind.

[mava1971]

Very interesting thread.
After long time in looking for a good betting strategy (and UNFORTUNATELY at the beginning of my "betting life" I have been lucky), I decided to try trading. In trading you can in some way know better your own personality and figure out where you are more confortable to operate... well, I understood (as many of you I think) that I was more confortable to earn money before the event begins ...

I focussed on soccer... I know, I know... real money is in horse race, but it is simply not something I "feel" or I "fit"...

I studied quotes and "money" and found really interesting some markets. As above written by some of you, STUDY is the most important period in trading...

I seriously started in the beginning of December 2009 with a little amount... every day, I REPEAT: EVERY DAY, I learnt something. Today I have multiplied by 25,2 times this amount.

I can assert that EVEN IF I have today a good feeling with my strategy with quite precise rules to follow IT HAPPENS ANYWAY to my STUPID ITALIAN BRAIN to go against these rules AND EVERY TIME it happens not to be a good thing to do. Fortunately, I always protect my bank without tragical loss.

I would like to say that I have multiplied 25,2 times my initial bank, but that does not mean that if I had started with 1000 euro I would have 25.200 euro today!!! My stategy is to reach 50 time (without having a precise target I think to be able to reach this amount at the end of the next month). 50 will be my “base” then I reach 60, I take away 10 and start back with 50.

I read that someone of you that try to move the market with "fake" money on some stake... I have also learned to "read" this strategy and according to the "weight" of the fake I understand where someone is trying to push the market and I follow the trail... (so thank you )

To sum up: Learn, operate, learn again AND FOLLOW YOUR RULES.

ps. I wrote in my above message that I have a "stupid Italian brain" but I would like to emphasize that it is not such stupid to vote for berlusconi (thank you for your comprehension)

[The Joker]

berlusconi is the guy that tried to eat a statue right ??

[mava1971]

berlusconi is the guy that tried to eat a statue right ??

and unfortunately did not swallow it!

[Mugged]

I read that someone of you that try to move the market with "fake" money on some stake... I have also learned to "read" this strategy and according to the "weight" of the fake I understand where someone is trying to push the market and I follow the trail... (so thank you

Is this really the case?

If so, could someone please explain to me?
I've noticed big chunks of money appear and disappear but the matched figure stays the same?

[mava1971]

Is this really the case?

If so, could someone please explain to me?
I've noticed big chunks of money appear and disappear but the matched figure stays the same?

Well, frankly, it is not "my strategy", but when I feel the game fits my strategy and that someone is "trying" to push the market into the right direction... I JUMP INTO IT.

In a very simple way: I can say that you can find big amount of money far away from quote to be layed or backed... I think they are just "In" to give "weight" of money to the market. Then, you have "strange" amount very close to be layed or backed that suddenly disappear just before being layable (or backable). It also often happens that you find for example 10.500 euro to be backed, then 500 euro are backed and 10.000 suddenly disappears. That are some "signs" that are interesting to analyze understanding where some people wants the market to be pushed...

Hey experienced folks... did I said some berlusconshit?

[mi6uel]

Hi!
Leonthefixer have mention the videos of Jack Birkhead. Where can I find these videos?
Thanks.

[Leonthefixer]

Hi!
Leonthefixer have mention the videos of Jack Birkhead. Where can I find these videos?
Thanks.

http://full-timetradersmindset.blogspot.com/

Google is your friend don't forget

[Mugged]

Thanks for the posts fellas but I was looking for a little more strategic input on football and horse racing markets.

What are the best beginners strategies that are pretty safe to put into action using small stakes.

I am a beginner and would ask all the experienced lads to point me in the right direction?

[jibiko]

as a starting point for soccer, http://geekstoy.com/forum/showthread.php?t=629

[flok]

thanks mava for not voting the bastard midget

ci siamo capiti

[Mugged]

as a starting point for soccer, http://geekstoy.com/forum/showthread.php?t=629

Thanks JIBIKO!
And thanks for all the effort you have put into helping the noobs!

[Mugged]

As you will be aware, I am a relative beginner to trading and just wanted to ask you long termers if you've heard this before?

It seems to me that at the moment every position I take, the market goes against me.

I wait until the markets are quite well structured, they are fluid and there appears to be an obvious trend developing.

The trend will continue to develop until I take a position and then WHAM!!!! it shoots off in the opposite direction and I have to red up.

I understand that this is an inevitable facet of BF trading but it's in every goddamn event I get involved in!

I realise it is not personal but just wanted advice from a different perspective