in financial markets we call this "adding to a losing position" and it what took down LTCM, Lehmans, and every bedroom novice trader who ever tried their hand
Savage. I feel for the poor souls that misinterpret this video. Endless averaging and going inplay is quite the winning combination, all that's missing is laying the field at the end.
Hi Peter, do you have or would you recommend a "list of trading rules" that you hold yourself to? In financial market trading virtually everyone says that a common (even essential) component of becoming a successful trading is having a hard list of rules that you promise to never transgress without self-imposed penalty.
There is a video I did called "trading notes", that may be helpful for you. Sports markets are a little different in that each market, especially horse racing, can be very different. But there are some themes that run through them.
Don't we all. Sometimes it's highly profitable. Other times it will fuck you right up. If you want to keep your account and mental health in good keeping I'd suggest you never do it at all.
You should only ever chase the price, if you can tell where the range of resistance of a selection is, and you know that it's very unlikely that it will go beyond that range. But even in this case, it's best if you chase it just one or two times; use two or three times the amount of the sum of your matched stakes when you submit a bet to chase the price, and only submit the chaser bet if the price makes a relatively big move; these bets should not be too close to each other. But again, make sure you know where the range of resistance of a selection is!
Thank you Peter for great videos and conclusion you make from your experience, I appreciate it a lot as a beginner in pre-race horse trading. Can you recommend any website or other resource to learn more about the horse races? I make around 2pts per day and I have no idea what those beautiful creatures and tracks they run on are. And also tools that can help me to value the horse to the odds available on the market? There are lots of different programs, websites but as a rookie I’ve no idea if they are any good. Thank you once again and looking forward to your next video. Cheers from Sweden!
A few years ago at a low point on my trading journey, I paid a sizeable amount of money to go on a trading course only to see the "professional trader" trade exactly like this video. Often risking >10 ticks to make 1 tick....and going in play on all losing trades...
I can't belive what I am seeing. This is exactly what you are not suppose to be doing. Why have you shown this video? Since when was it ok to let your trade go IR?
No, you are not supposed to do this. This as highlighting how some people trade to get a high probability of winning, but ultimately it will fail because it’s just ramping up the liability. You only need one loss to wipe out significant numbers of small gains. It’s not scalable either as you need many multiples of your stake to complete the trade.
@@chris25801 - Maybe it should be made clear that you are not suppose to do it or highlight the sarcasm a bit more. I watched this video and thought I will try this. I went in running and lost £300. Thanks. 🙄
I do state on the description and throughout the video that I don't do it and why it's too risky and finish by saying this is not how I trade. Curiously though this is exactly how somebody else trades.
That was me blowing the bank last year.....
That's unfortunate to hear, but very common, unfortunately. It seems to be a right of passage for traders.
Even Peter Webb is capable of satire.! Well done Peter I thought this was a serious video at first. Made my evening this.. 🤣🤣🤣
Been there. Bought the t-shirts. And some of those t-shirts were ridiculously expensive.
Chasing price with ever increasing liability. It's akin to picking up pennies in front of the express train. One day it's gonna be messy.
in financial markets we call this "adding to a losing position" and it what took down LTCM, Lehmans, and every bedroom novice trader who ever tried their hand
Savage. I feel for the poor souls that misinterpret this video. Endless averaging and going inplay is quite the winning combination, all that's missing is laying the field at the end.
I did worry about that.
Hi Peter, do you have or would you recommend a "list of trading rules" that you hold yourself to? In financial market trading virtually everyone says that a common (even essential) component of becoming a successful trading is having a hard list of rules that you promise to never transgress without self-imposed penalty.
There is a video I did called "trading notes", that may be helpful for you. Sports markets are a little different in that each market, especially horse racing, can be very different. But there are some themes that run through them.
I sadly have done this many times and been burnt. I thought at first you was serious and I was like hang on I saw your video on NEVER GO IN PLAY. 😂
I do exactly this way too often :(. Nice video Peter.
Don't we all. Sometimes it's highly profitable. Other times it will fuck you right up. If you want to keep your account and mental health in good keeping I'd suggest you never do it at all.
Damn Peter that was painful to watch :) A great video of how not to trade though.
Like the way you Analyse things...
You should only ever chase the price, if you can tell where the range of resistance of a selection is, and you know that it's very unlikely that it will go beyond that range. But even in this case, it's best if you chase it just one or two times; use two or three times the amount of the sum of your matched stakes when you submit a bet to chase the price, and only submit the chaser bet if the price makes a relatively big move; these bets should not be too close to each other. But again, make sure you know where the range of resistance of a selection is!
Thank you Peter for great videos and conclusion you make from your experience, I appreciate it a lot as a beginner in pre-race horse trading. Can you recommend any website or other resource to learn more about the horse races? I make around 2pts per day and I have no idea what those beautiful creatures and tracks they run on are. And also tools that can help me to value the horse to the odds available on the market? There are lots of different programs, websites but as a rookie I’ve no idea if they are any good. Thank you once again and looking forward to your next video. Cheers from Sweden!
A few years ago at a low point on my trading journey, I paid a sizeable amount of money to go on a trading course only to see the "professional trader" trade exactly like this video. Often risking >10 ticks to make 1 tick....and going in play on all losing trades...
You shouldn't go on a 'trading course' with the Badger. 🐼
It's amazing to hear that.
so calm risking £600. Nice :-)
I can just picture the look of mischief in your eyes whilst posting this Peter 🤣
Its resembles what most people are doing right now with bitcoin....they are buying dips each time it goes lower.
Madnezz.
If you warn people, however, you are the one in the wrong. It's not the wisdom of crowds, but the madness of them!
LOL looks like a Caan Berry video. You should put a batch together and flog them for £150....
Which are a farce
Ironic title alert...
Martingale trading almost!
That’s actually a good title!
always interesting things. Have you ever thought about translating into Italian?
Non penso che il mio italiano sia abbastanza buono?
@@betangeltv wow that was unexpected haha
From glasgow pure class😆
In my humble opinion risk should equal reward; but there will always be gamblers in this world😲
@@betangeltv 😆😆😆😆😆😂😂
Gents, never use such advise, u risk for 300$ to win 6$. Bullshit. Gambling and hope.
Pointing that out is the whole point of the video.
averaging down ?
Is more or less a version of loss chasing, don't do it.
I can't belive what I am seeing. This is exactly what you are not suppose to be doing. Why have you shown this video? Since when was it ok to let your trade go IR?
No, you are not supposed to do this. This as highlighting how some people trade to get a high probability of winning, but ultimately it will fail because it’s just ramping up the liability. You only need one loss to wipe out significant numbers of small gains. It’s not scalable either as you need many multiples of your stake to complete the trade.
I cant believe anyone would take it seriously.
@@chris25801 - Maybe it should be made clear that you are not suppose to do it or highlight the sarcasm a bit more. I watched this video and thought I will try this. I went in running and lost £300. Thanks. 🙄
I do state on the description and throughout the video that I don't do it and why it's too risky and finish by saying this is not how I trade. Curiously though this is exactly how somebody else trades.
@@thescallytrader Typical gambler. Blame someone else when you loose. Only one person responsible for you loosing here and it wasn't Mr Webb.
so exactly the same as backing at 1.05
Yes
listen mate you need to put bigger stakes 10 pound not going cut it