Sorry Kiddies, I've Crashed and Burned!
After losing on both Monday and Tuesday this week, I made a mistake / traded badly today by laying a horse just before the off, well micro seconds before the off. Couldn't get out in running - cost me £237.
So annoyed that I tried to get it back by putting what was left of my bank £175 on a odds on favourite in a 4 horse race. Needless to say - it lost.
Thanks to all who contributed to this blog, and good luck to you all.
One tip to any new ones starting off. Stay away from all those people who post videos on how easy it is to make money at this game. It's crap. It isn't. All these people (top dogs included) only post the winning videos. They never show you how easy it is to lose money as well.
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Bad Luck, but you are spot-on with the last comment, Have a week of and come back with smaller stakes, just try for a week to only win £2 per race, once you have traded to the £2 move on to the next race, do not dabble with it or you end up loosing it back. then up the stakes every week or 2.
ReplyDeleteAll The Best, Steven.
Sorry to read what happened. You are right, there's very few videos posted of losing trades, and perhaps that is actually what is needed out there. It's incredibly easy to lose money, there's a million ways to do it, and only a few methods of making it consistantly, and those are reliant on many different factors working together well.
ReplyDeleteI hope it's not the last we see of you anyway, it had the makings of a good blog, and was serving to educate / remind us of how much there is to learn. Best of luck, Matt
No easy money in this game no matter how many of the blogs out there want to pretend there is. All the big winning blogs are full of ads and promoting certain trading courses shouldn't be too much of a surprise that they all want to show how much they win.
ReplyDeleteGood luck with whatever else you go on to. Been said so many times trading is like picking up pennies in front of a steamroller as soon as you take your eye off the ball you;re screwed
I'm really sorry to hear that. Thanks for the post though, I have done exactly the same thing in the past but I never put it in a post! I think it will be useful to lots of traders.
ReplyDeleteAll the best. MG.
Actually there are a few on the BetTraders site. I'll never say it's easy, but it's certainly far harder when discipline goes out the window.. and that's what sends 90% of punters to the wall...
ReplyDeleteHi Ostlertrading
ReplyDeleteSorry you’ve had such a bad experience, something all us beginners have done. Yesterday I just escaped chasing losses and, to my credit, resisted the temptation, although the amounts were nothing like you had.
Discipline is what it is all about and, after 5 months of “practice”, I believe I have begun to take some, only some, steps in the right direction.
Good luck with whatever you do, whether you come back or not.
Regards
Andy