Category Archives: Explanation

Gruss Settings

Been a while since I had a chance to blog. Really busy with mentoring, trading and …..living!

I picked up a comment from a guy called David who asked about sharing the way I set up Gruss. I have been sharing my settings with my workshop groups for ages, but though it may help a few of you if you wanted to set up as I do. When you have a new software package it can be pretty daunting find your way around it. This video just scratches the surface of what the software can do. But these are my basic ladder settings.

Not sure if anyone gives a flying fuck what I am up to at the moment and maybe what there isn’t too much material going up. In terms of trading videos, these are pretty time consuming and to be honest I think that if you watch the material I have up you can get the guest of what I do. I have no real desire to keep repeating the same old material over and over.

My Workshops have been a massive success and my network of guys who I Mentor within what we call “MG World” are going from strength to strength. At last count we had something like 20 full time traders in the group now. So it isn’t all about me. These guys all bring their own skills and experience to the group. All have attended a workshop with me, so we all trade the same way and this is incredibly helpful to the less experienced guys. I have 2 workshops left this year, 26th Sept and 21st November. I don’t have too many places left for September, so if you were thinking of booking I would advise you to do it sooner rather than later. Having many taking up the option to join the Mentor group too which is fantastic.

LINK to Racing Workshop page

Been enjoying the dry weather and a chance to get out on my Motorcycle. My illness last year stopped me getting out too much, so by time this spring came I had cabin fever and was desperate to put some miles on. Been taking advantage of the quite Monday and Tuesday afternoons to get some serious miles in. By the time Wednesday comes I am chomping at the bit to trade again.

Although I haven’t blogged too much, I do post stuff on my Facebook group. https://www.facebook.com/ItsAMugsGame/

As always, happy to answer any questions you have.

Cheers

Steve

New Year – Clean Slate

First off I want to wish you all a very Happy New Year!

Many people join in with the tradition of the ol’ New Years resolution. I’m not so much one for that. It usually involves me vowing never to eat another bacon sandwich or Pork Pie again. Ever. But by by brekkie time the Bacon finds itself lodged between 2 slices of bread and as I single handily keep Melton Mobray’s economy afloat, it would be irresponsible for me to ditch the odd Pork Pie :)

But it can be a good time to have a look at your trading and review your past results and seek improvement. My Mentorship group are well versed in me going on about reviewing past trades. A minimum requirement is good record keeping, which I have blogged about before, you can read that HERE.

Another thing you can do is record them on video, I often say that when I watch even really good trades back I am like an 8 year old watching Dr Who, with a cushion over my face. You see every little error you make. But it helps you improve for sure. If you keep making the same mistakes over and over it becomes almost reckless. So you need to find that inner strength to STOP!

If you want to record your trades you can use this great FREE software, it’s the choice of gamers that post their videos on You Tube. You can get it HERE . It’s called OBS. Configuring it is easy if you type OBS into You Tube, there are lots of videos showing how to set it up and use it. That’s how I learned :)

So this is a good time to turn over a new leaf. To leave all of those sloppy and reckless trades behind. Tighten things up and concentrate on making small improvements. I heard Dave Brailsford who is the team principle for Team GB Cycling and also the SKY Racing team talk about a concept he referred to as the “aggregation of marginal gains.” He explained it as “the 1 percent margin for improvement in everything you do.” His believed that if you improved every area related to cycling by just 1 percent, then those small gains would add up to a massive  improvement.

He looked he nutrition of riders, their training program, the ergonomics of the seat, and the weight of the tyres. They searched for 1 percent improvements in tiny areas that were overlooked by almost everyone else. They found the pillow that offered the best sleep and taking it with them to hotels, testing for the most effective type of massage gel, and teaching riders the best way to wash their hands to avoid infection. They searched for 1 percent improvements everywhere. The results are well documented.

This concept is nothing new. You may have read about my time working at Toyota and way they use Kaizen: The concept of continuous improvement. It works in the same way and lends itself very well to trading.

There is something that is used in Kaizen called PDCA – Or Plan-Do-Check-Act. Simply put….

Plan -Make a Plan

Do – Carry out your plan

Check – Check the results of your actions

Act – Carry out you corrective actions

PDCA-1

 

 

 

 

 

Hope this gives you some ideas for your trading in the New Year. If you are interested in learning how I trade have a look at my Racing Workshops!

 

Happy New Year

 

 

Visualisation Part 1

My latest Mentorship Induction has once again bought into focus how we view data.
Without doubt this is the most important tool we have in trying to understand the dark art that is the Racing market.

I have many questions about this and thought it was about time I addressed it.

As many of you will know my background is from manufacturing, specifically in the Motor Industry. I spent most of my manufacturing career at Peugeot including a 9 week spell at Toyota. The Toyota experience was particularly enlightening. They pretty much wrote the book on modern manufacturing techniques that most of the World’s blue chip Company’s use in their manufacturing processes. It is widely know as Kaizen or “continuous improvement”. This philosophy opens up a whole range of lean manufacturing techniques, which I won’t bore you with. But the one I want to talk about here is the visualisation aspect.

Within each area of the Toyota plant is a space where there are information can be displayed. Every aspect of each areas performance is measured. From staff absence to build numbers. It is heavily influenced by quality indicators and they are all displayed in a familiar pattern. The idea is anyone from the management team can walk into each area and within a few minutes get an unto date snapshot of how the area is performing and more importantly see any negative trends developing that require attention. This works very well, as Toyota produce some of the highest quality and reliable cars ever built.

So what has this got to do with Betfair/Betdaq and trading?

Visualisation. It taught me how important it is visualise what is going on. To see a bigger picture.
Now you will be familiar with my set up.It’s about as simple as it gets. There isn’t that much data that is returned from Betfair, but there are a multitude of ways we can display it. The software vendors have given us lots of options with this. So you wannabe City Traders can sit there with multiple screens filled with impressive looking graphs and charts to help you make some profit. Now although I snigger at this, let me say that for some of you I am sure it works. And that’s the point. You need to use the visualisation tools that you have to understand what is going on.

What do I need to understand the market?

How much Traded Volume?
How much was matched at what odds?
When was it matched?
What odds is being matched now?
How much money is available at each price point?
How quickly is this being matched?

These are the key pieces of information. The rest is how that is visualised.

In Part 2 I will go deeper into that.
This screenshot has all the indicators I use. Less is more for me.
Visualisation1