Profit at all incomes before the start of the match.
Update1: In order to be more accurate to what I am posting here, I have corrected the header and the text of this post according to the comments below (see the comments here)
Sunday, February 7, 2010
Trading Without Risking The Bank
This is what I call trading without risking the bank.
Profit at all incomes before the start of the match.
Profit at all incomes before the start of the match.
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Strange title to the post. There's still risk m'boy. The trade could have gone against you.
ReplyDeleteIf someone knows how much he is going to lose in a trade then he is not risking his bank. Here we are dealing with a pre match trading without volatility in the market. This means that the trader is controlling the amount of money he is going to win and the amount of money he is going to lose. If a stop loss strategy is set and followed with discipline there is not a risk for the bankroll in this way of trading.
ReplyDeleteBut in order to be accurate to what I am saying and to what I am posting here I must agree with you. You are right. There is a risk of losing the trade (but not risk the bank) if the odds go to the wrong direction. The big issue here is to be able cut loses early setting a stop loss strategy.
As you can see from my blog many times the trades are going against me.
Anyway I am going to correct my post following your comments.
Thank you very much you are helping me a lot.
Roberto
Hello Roberto
ReplyDeleteCan you tell me what trading platform are you using Ie Bet Angel?
Do you use a trailing stop loss or are you watching the price movements?
If it goes against you how many ticks do you use as your stop loss?
Are you using 60% of you bank per trade?
Very interesting blog. I know a few people that trade this way and are doing very well from it.
Keep it up matey
Regards
Darren
Hello Darren,
ReplyDeleteI am suffering from the software/bot aspect. By now I am using the Geeks Toy (that is free btw) but I would like to try and something else too, maybe something more automaticated like some trigger based bots that I have seen lately.
Do you have something to suggest???
The problem with my trading style is that I have to watch the odds all the time till I close my position and this is very time consuming. On the other hand I am not sure that I can trust a bot for auto trading. I have heard various people loosing money because of the software.
About your questions
a)Do you use a trailing stop loss or are you watching the price movements?
.....I am watching the movements. I am not sure if I can trust my bank to a bot. I am open to learn though.
b) If it goes against you how many ticks do you use as your stop loss?
....2-3 ticks. I try to be disciplined on that because I am trading with a big percentage of my Bank. It is not very easy to stay disciplined though... Very often I close my position with loss and then the odds are moving again to the "right" direction.
c) Are you using 60% of you bank per trade?
....I am using the 60% of my bank spreading it to all of my trades. In other words If I am trading 3 matches in order to spread the losing risk I am using overall the 60% of my bank. Not 60% per match. In case I am trading only one match then I use the 60% only for this match.
I am truly grateful for your kind words.
I am looking forward to hear more of you
Best Regards
Roberto
I also use "The Toy" which I find really good especially for "In Play" trading.
ReplyDeleteI also use Bet Evolution because this has the trailing stop loss feature. It will follow the prices if they are moving in your favour however if the price moves against you it will fire in your stop loss. Bet Evo is not free though. With this option you would not have to watch the odds.
I hope this is of help.
Just out of interest are you based in the UK?
Many thanks
Darren
Thanks for you suggestion about Evo! I think that I will give it a try.
ReplyDeleteNo I am not based in the UK, I am Greek (this explains my poor English), living in Athens.
Best Regards
Roberto
Yeh give Evo a go you may like it.
ReplyDeleteNo problems with your English Roberto much better than my Greek.
I worked in Corfu for 2 summers back in 1990 and 1991 - Loved it!
Efharisto poli
Darren
Darren Efharisto poli too!!!
ReplyDeleteCorfu is a great place for summer vacations:)