tag:blogger.com,1999:blog-6804774922458007587.post7705219959235242907..comments2009-04-14T09:11:32.394+01:00Comments on The Experiment: Self-Indulgent Bullshit: Practice Day 4 - Trading in RunningGraeme Dandhttp://www.blogger.com/profile/06508032031340730990noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-6804774922458007587.post-17070206356739668892008-02-17T23:13:00.000+00:002008-02-17T23:13:00.000+00:00I wouldn't recommend borrowing 15k to fund your ex...I wouldn't recommend borrowing 15k to fund your experiment. I would recommend starting with a sum that you can afford to lose, and slowly build it up from there. I started back in 2004, and like you, felt that this was something that I could do well at. However, I was not willing to risk a large sum of my own money, so I started with 100 quid intending to build my bank up from there. After turning that 100 into 1500 into a few weeks, I then reduced that to about 20 over the next year before I finally had my 'Eureka' moment in September 2005 since when I have turned that same 20 into over 70k. There is a huge amount to learn, and it takes time. I don't think you have enough experience yet to be quite honest, and I would rather see you start with a small sum and work up to bigger sums than try learning with borrowed money. But good luck anyway. I have a feeling you'll need it. It's a rocky road.Cassinihttps://www.blogger.com/profile/05879449876804295094noreply@blogger.comtag:blogger.com,1999:blog-6804774922458007587.post-81600404264207747362008-02-17T16:17:00.000+00:002008-02-17T16:17:00.000+00:00Dave,Thanks for your comment. I'd be keen to exch...Dave,<BR/><BR/>Thanks for your comment. I'd be keen to exchange emails concerning our Dutching techniques as I'm relatively new to this technique but I can see the potential that it has. You're the first person to write on the blog who uses a similar technique, so it would be good to catch up with you. Drop me an email if you'd like to share views.<BR/><BR/>GraemeGraeme Dandhttps://www.blogger.com/profile/06508032031340730990noreply@blogger.comtag:blogger.com,1999:blog-6804774922458007587.post-36506270084249098692008-02-17T13:41:00.000+00:002008-02-17T13:41:00.000+00:00Hi Graeme,The scenario Leo describes happened to m...Hi Graeme,<BR/><BR/>The scenario Leo describes happened to me a few years ago when my approach was mainly punting.<BR/><BR/>I thought I'd give trading a go but rather than take a small loss before the 'off' I thought I'd get my money back 'in-running'.<BR/><BR/>The horse was never headed and I lost £400 in 4 minutes as the price fell and fell. I refused to accept that it 'could' win by making excuses that it had started too quickly etc. and before I could think properly it was too late to bail out.<BR/><BR/>BE VERY VERY CAREFUL!<BR/><BR/>All the the best,<BR/><BR/>MarkMark Iversonhttps://www.blogger.com/profile/02898989140075138851noreply@blogger.comtag:blogger.com,1999:blog-6804774922458007587.post-16589280628280040442008-02-17T13:23:00.000+00:002008-02-17T13:23:00.000+00:00Good to see that you are back into things but may ...Good to see that you are back into things but may I just add my word of caution with regards to in-running. It is a very very risky area!!! The one time your order does not get filled can wipe out a lot if not all of your profit, I have had experiences of this and always try my best to never let anything go in-play, it is just to damn risky, one mistake and a day or even a weeks profit for me can go.<BR/><BR/>I hope you have better luck than me when trading before a race and letting the position go inplay but I am sure if you ask most traders one of their first rules is to never let a position go inplay.<BR/><BR/>Imagine this scenario, you are trading the fav at 1.98 and you lay it hoping to trade out at 2.00, before the off it doesn't go above 1.98 again but you decide to leave it to go inrunning. I assume you are using £1k to trade so your liability is £980. The horse jumps out in front and is never headed and as such the price goes to 1.8 as they jump and is soon at 1.7 and before long is 1.5 with a furlong to run but something is coming back at it. What do you do? Your mind will be running at an unbeliveable rate, you will be mad with yourself as you are facing a huge loss if you get out now. You panick and decide to leave it as it looks like the horse in second is going to get up. It doesn't and with a 3 second delay to your pictures compared to the on course punters you don't have a chance of bailing at 1.5 for a £300 loss, instead the horse goes on to win and you lose £980. It will take a lot of one and two tick profits to get that back!<BR/><BR/>I don't want to put you off the idea but just want you to think about the one time the price doesn't come back out, you will have mainly been doing jumps racing on Saturday which are obviously long races where time is on your side, move on 5 furlong races and time will not be your friend!<BR/><BR/>Look forward to your next update! All the best!leonthefixerhttps://www.blogger.com/profile/09633799029011008039noreply@blogger.comtag:blogger.com,1999:blog-6804774922458007587.post-71650496315180552912008-02-17T09:28:00.000+00:002008-02-17T09:28:00.000+00:00Graeme, please be very careful with in-running tra...Graeme, please be very careful with in-running trading. Some of my worst nightmares have come true this way. <BR/><BR/>I am very interested in your blog as you talk about dutching. I am deeply involved with the dutching and more importantly bookmaking functions of Bet Angel. I am a naturally modest person but hear this. I KNOW HOW TO MAKE A REGULAR AND SUBSTANTIAL INCOME USING THESE FUNCTIONS. Guess what? I'm currently losing money. What's my problem? Self Discipline. I may need therapy here but every race I get involved in I have to win. If bookmaking the market and running into a problem rather than accept a loss of £5, £10, £15 I have to do something rash and expose myself to a large loss. Sometimes this has involved me trying to 'put things right' in-running!!<BR/> <BR/>I am carrying on and trying to adjust my frame of mind because I KNOW I am on to something good if I can change this. <BR/><BR/>Graeme, why not look at dutching or bookmaking the entire field? This is what I do. If you have the self discipline you could get into profit very quickly. I have runs of 20 to 25 winning races on the trot but I ALLOW this profit to be taken from me and it is this aspect I am currently working on. <BR/><BR/>I would be delighted to discuss this. Let me know through the blog if you do. Having said that you will be offered lots of help so you may not need tips from this bull in a china shop!!!! Seriously though look at the whole field!! <BR/><BR/>I wish you all the very best whichever method you choose. <BR/><BR/>Dave.Anonymousnoreply@blogger.com