Monday, 2 November 2009

October

Another quiet month for me! Ideas, time out, planning and evolving my sense of self has been high up there on my what I've done list. One thing that I discussed with a fellow Bet Angel user (aka my landlord!) was that once you've learnt how to trade an make money from it, the general skill and ability won't disappear - it just needs refreshing. Many people will want to learn trading as a skill to be able to do to earn some extra side money - this is absolutely feasible, however, you need to have got to a certain skill level to be able to do that. If I were to work once a week, I would quite simply be rusty whenever I trade, but because I have learnt the skills I should always be able to profit from - but only a percentage of my full capability. I'd say it lies somewhere between 25 and 60 percent. Another thing to mention if you are learning - you really need to have worked full-time for at least 4 months at it to acquire these skills! Going half-hearted at something will seldom get you anywhere to being able to compete in the markets. This is because markets can subtly change, and you need to be in the change while it's going on. However, market movements are still fairly predictable, even with the noise of money you see.

October I worked 9 days averaging approximately £1000 a day, which is not good for me, but it was because of the on and off trading I was doing. Not to mention coming back from holiday and a long weekend course, I went on to find volatile, low liquid markets. A few big backers also changing the shape of the markets from what I was dealing with in September!


16 comments:

Anonymous said...

It looks like you might fall quite a way shy of your current target with only 2 months of the year left.

Bet you're kicking yourself eh? lol

Anonymous said...

Hi Adam,

I totally agree with you regarding working at it full time. Only be able to do it at weekends leaves you rusty and unable to pick up where you left off the previous week which prolongs the learning process.

I've been at it now full time since June and i'm just beginning to see a consistent return. I believe i have acquired the skill to profit from it but this is not something you can achieve by just dabbling at it. You need to eat sleep and breath trading in order to reap the rewards in the early stages and although it's been a long 5 months the fruits of my labour and time spent learning my trade are coming to fruition, just in time for Christmas thankfully.

All the best and thanks for taking the time to answer my questions in the early stages.

Anonymous said...

Well done!!!

Roger said...

I think you've hit the nail on the head there. I've not got the experience/skill to trade full time (far from it), so my practise/learning time is limited to the evenings and weekends. One thing i've noticed is over the last month as the evening racing phases out, my opportunities to trade at least some of 4-5 days of the week has gone also, and the results of my trading at the weekend seem to have suffered as a result of this.

Anyway, it's always great to read your blog and i'll make a point to comment more often.

Roger

Cudster said...

Hi Adam,
You cant grumble with £9000 a month :)
What else have you been planning recently, any more ideas like ES?

Cudster!

Anonymous said...

Hi Adam

From reading your posts I assume you do the majority of your trading on the favourite or second favourite. With that in mind, once you've made your trades do you always green up the book so the same profit is realised no matter horse wins or do you leave a bigger chunk on the favourite as it's (supposedly!) got the best chance of winning? At the moment I've been leveling out the profit, but quite often the horse I've done all the trading on wins, so that's why I'm asking!

Cheers

Matt

Rick Ford said...

Hi Adam, I was thinking that to really progress your Exchange Secrets Site that you should do once a fortnight webinar where people watch and possibly follow your trades. It's all recorded so it wouldn't break your flow and all your members can learn from your methods. What do you think?

I'm thinking of doing something similar within my betting club soon.

Paul said...

Alright there Adam stummbled across your blog today think its fantastic what you have acheived. Being a trader myself on and off at the moment I am finding things a little difficult at the moment keep losing my discipline.
This is because my game seem's not to be flowing so well, it's like stop start, you got any tips in general and on being a little more consistent. I work with a 2k pot and usually find it easy enough to mke 10% of that at least 5% but struggling to make 2 to 3 at the moment.

Anonymous said...

Hi, Adam!
What price would you put on having the live pictures on while you trade? Or in other words if you were to trade only with a PC and BetAngel (say from abroad), how much would your average drop?
I know Peter Web has both RUK and ATR live feeds, so this must be important, but how important?
Thanks a lot and good luck!
Rad

Jonny Teather said...

Hi Adam.. great blog!

I've been reading yours for some time now.. I find it pretty inspiring!

My friend Jack told me about it.. You have a blog link with him. His blog is full time traders mindset. Could you please link my blog to yours. My blog name is: tradingswings.blogspot.com

I've only just got round to starting it but will post every week.

Thanks

Jonny

Johny said...

cool, can you explain me how to trade and earn 50 euro a day?

please?

I lost 200euros on learning ,mistakes...

Steve said...

Good to see you back in the blogosphere (is that a word?) and £9k in October is excellent - wow, I'll keep pluggin away. any chance of a line mate? I've linked you :-)

Johny said...

hello adam

what stake(bet)you use when you trading?

Anonymous said...

Welcome Back Adam.

I have Read your Blog from the Start and have not Been Surprised at your Results.

I wish you all the Best.

Strang.

Danny Ibz said...

Hello Adam

Me and my mate Danny have been following your blog for quite some time and decided to do one ourselves.

I was wondering if you could stick a link on your page for be and vice a versa?

Cheers matey

Jack
http://ibizatraders.blogspot.com/

Anonymous said...

Umh .. I have my doubts on the results established on this website.
I'm not saying that they are certainly false, it certainly is so stellar that it is natural doubts.

He claims to earn £ 1000 per day (or more ') with the "trading" horse, but' you say very little about the actual operations, which use average stake, how many ticks on average take profit and stop loss, how many operations are in-play etc..
On the blog there are many screens to the account of Betfair, but none that immortal some operations or rather a couple of videos that show these important operations ... you could put a few videos that do see at least some operations (whether gain to loss), should not compromise NOTHING 'on your results and many detractors who say that your case is a "hoax" would find some strong arguments in defense of your statements about earnings with horse trading.

Hello ... I look forward to some nice video!