31 thoughts on “Racing Preview Video 3rd June

  1. The Brigadier

    Thanks for the video Steve, a tight day’s racing. Too early to commit yet,but I’m keeping an eye on Red Paladin in the 20:45 at Carlisle. I think the volume’s too low to bet at the moment, but it is displaying many of the signs of something that might lower in price.

    Enjoy your day tomorrow.

    Reply
    1. The Brigadier

      Hi Steve,
      Got in at 6.2, and out at 5.2, so not too bad, it went off BSP 5.07. I think I could have done better, but no complaints, thanks.

      Reply
  2. steve

    Hi mate

    just wondering where can we get a copy of the book spreadsheet,if at all possible.

    cheers
    steve

    Reply
  3. peter

    something strange happened today, i just trade pre off and have been doing well of late, but today while trading, i thought to myself i am going to green up on this race, purely by reading the market, this happened another twice, i quite often bottle it and green up far too soon. i used to trade far to many markets but thanks to you i have got on top of this. things are looking good, i have not been sleeping well for a while now as my mind is always going over trades and trying to tweek things, so lets hope for a good week. thanks mugs.
    peter

    Reply
  4. Dave

    Mate if you don’t mind go checkout this video when you get chance and watch in amazement either my stupidity or as to why I sometimes feel the markets work against me for no apparent reason. Im on the verge of giving this up, lost 1k over the weekend and on Monday I deposited my last £100 i ever going to put in, yesterday markets loved me I withdrew more than what I lost today but today just felt different after a good start and tbh I don’t think my stress levels can take this anymore. I realize I should have took the hit when it reached @5 but as it came back once I am the eternal optimist.

    http://youtu.be/fU8xuxGM-rg

    Reply
    1. Yirkaa

      I watched the video twice and I dont know when did you lay first but on the start of the video your horse is showing all the signs its gonna drift. You get it confirmed at 1 minute mark where it hits support line.

      Luckily it manages to go in for that extra bit where you could’have traded yout for minimal loss but as you can see Spavento hits his resistance at 3.50 at the same time and Painted Tail never looks like its gonna drift. You could have saved it on 4.4 but you were waiting for another comeback a guess. Well, 1 minute till the off its not happening. You had one more chance to get out at 3:30 when it broke 5.0 resistance. That was the last chance…. That extra going in play is just sheer stupidity and not optimism.

      I know my comment is harsh and I actually lost a lot on this race too. (my biggest loss of the day) I was trading Spavento and got in twice on the wrong end of the trend. I actually think this was really difficult race to trade on

      Reply
    2. MG Post author

      Dave, I don’t think you need me to stick the boot in and tell you where you made mistakes here. You are capable of seeing them yourself. What I would say is fair play to you for having the guts to post it up. I am sure many others can take something from this in a positive way. If you want me to critique this let me know and I will do it in private.
      Guys – it’s easy to see where mistakes are made after the event. Like I always say to people criticising my trading. “When you own money is sitting there in jeopardy it changes everything”. Before anyone comments please consider what you are saying to Dave. MG

      Reply
    3. The Brigadier

      Dave, thoughts are with you mate, been there more than once, and know what you went/are going through.

      Others are better qualified to give technical trading advice, but what has helped me since the last time I did what you did was to write down and type up a list of reasons to go in running, not accept a red, or go on tilt, and those reasons to take it on the chin and move on.

      These were a mixture of trading reasons and very personal ones to me involving my family and lifestyle.
      As you can imagine the list of reasons for accepting the red is much larger than the one suggesting I go in running!

      I’ve got this pinned in front of me, and whenever I get on the wrong end of a trade, and the old demons raise their heads, I force myself to look at it and bite the bullet. And, there have been numerous occasions when I am thankful I have. I doubt that it will always work, but it has thus far.

      Hope this doesn’t come across as patronising, I know how much this kind of thing eats away at you.

      Cheers mate,
      John

      Reply
    4. NR169

      As Mugs says. It takes bottle to post a trade thats gone wrong. I take my hat of to you. The psychology of letting a trade go in running is the key. Beat that and you will make huge strides. I wish I could find that elusive key myself.

      Reply
  5. Dave

    Thanks for the replies my intention of the post was to basically get ripped apart i’ve got thick skin so very hard to offend me and I really need a few pointers drilled home that I seem to easily forget when it goes into the red. I have another video were i do exact same but lose 3x as much, same mistake in running. If i eliminated that part of my trading I would be damn good at this. The original back bet was placed a few seconds before the drift came as shown in the graph, its was a perfect scalp opportunity at the time the odds were bouncing between 3.9-3.75 for a while. Certainly was a hard market to trade I had tried to enter it a few times. Also and this was crazy from me but i was on the phone during that and that is partly why i didn’t catch the get out that arose. Not something I getting into here but serious enough that I had to be on the phone. Mugs if you fancy dissecting it for me when you have ten min feel free and be brutal with me its only thing that works.
    Cheers Guys

    Reply
    1. Yirkaa

      Dave and Mugs, just to make sure I wasnt trying to be an smart*ss. I know after the battle everybody is general. I tried to give you some pointers out and yes it takes guts to post trade like this. maybe I was too hars but that was mainly because you let the trade go in-play.

      Like I said I lost money on that trade as well and exactly at the same time. I took the loss, you did not. Just dont let any trades go in play. Thats a start and you can build from there.

      Good luck with all the other trades :)

      Reply
      1. Yirkaa

        Just to add to this. Being 1-2 ticks from greening up is the worst. When the odds just cant reach it. I had trade like this today and when the odds hit the ceiling first time I just froze and was praying, then it came down and I remembered your video Dave. Fortunately they went back up again, I took the 2 tick loss just before odds crashed completely. Learning from mistakes is powerful weapon.

        I higly recommend watching all the MG’s videos, especially the ones where he loses money. It shows that everybody makes mistakes and making money trading is all about determination, self-control, confidence and thinking a bigger picture.

        Reply
        1. Dave

          Yirkaa, Being harsh means I pay more attention its type of person I am. I appreciated your feedback and the times you pointed out to me meant I could look over video once again and see even more mistakes i made. As mugs says when your money is on the line your perspective differs. Luckily for me this hasn’t destroyed me or anything it was my holiday fund i lost but it came from bookies and betfair in first place, as i say i can have really good days just need eliminate these stupid errors. I posted another video yesterday to show someone and in it I quickly cut a loss and changed tactics. Only pennies I know but principle is same. Finally I may be taking all this advice in.

          Reply
  6. peter

    best days ever mon and tues yesterday 5 trades 3 good 2 bad, so came away with a small profit, so the old psychology kicks in looking at the first race at thirsk, shitting myself again, so i half stakes, and come away with a half decent profit, why did i shit myself and half the stake, good old psychology lol

    Reply
  7. Dave

    On aside note when i said i lost 1k it wasnt down to trading like this it started from the following and others may know exactly how easy this is to happen. It all started with a loss of £10 initially, somebody text me i took eye of screen for a minute and a trade jumped so what little discipline i have i got out. Argued with someone and came back angry and thought i want my tenner back, went back in to try fix it, it went in running. I lost over £100. Then what I have now found out to be “The Bomber” put me on another bad trade and dejavu i lost again this time £200, same damn mistake. Then i stuck a chunk on a football match the day after thinking il easy get this back, i didn’t. On Sunday i saw what i thought was a short price false fave so I layed it. It ran best race of its life. Then my last £50 i slowly fed on an overs market in a game that stats said would never be a nil nil, 2 goals would’ve been enough to trade out and get pretty much what i had lost back in one go. It was a nil nil. So lack of discipline, chase mentality and the urge to gamble and fix cost me big. I love trading its something I can relate to and feel i can succeed at eventually. The moral of this is when i lost the £10 and i had an argument, PC off come back tomorrow. Hope my story helps someone not make same mistakes.

    Reply
  8. Toni

    Hi Dave,

    every mistake you take is a learning effect.
    I also went often in in-play and get in trouble. Take the red is hard to learn, thats are when some traders speak about disiplined, stay and take the red, make another trade and get it green.
    I also in the learning process and i only can speak for me and i say i will make a lots of mistakes and they will be ever there. Where is work, there is a mistake, learn from it. :)

    Have a nice weekend

    Reply
    1. marc

      hi all .
      im sorry to read on here about all the hardship and mistakes ,mainly going in running trying to recover losses ,not accepting a red position ,fear of loss etc,in a way im glad to read it.(dont mean that in a bad way ) because i have the same exact problems.and after 2 years of trying to trade ,im struggling with what i believe to be the last hurdle. im trying so hard to break these bad habbits ,yesterday i lost my bank of 350 euros doing the wrong thing,because my mind tells me i have to make money.it all started a couple of days ago when my pc started to play up,i need to buy a new one ,and dont have the money.i took this thought to the markets with me,didnt accept my losses ,whent inplay and lost it all in 3 races, now i must wait a couple of weeks till i can put in another 200-300,as mugs says in one of his videos, letting it go in running is just stupid.mugs has shown us how to do it,and reading this and other forums it seams like this is all part of the apprenticeship.im verry sorry today that i didnt just sit and wait untill the market gave me the oppertunitys like mugs says in his videos ,if you just sit and wait for the right drifters or steamers theres a living in this.hope you all have a better day.
      Marc

      Reply
  9. Toni

    Hey Guys,

    we all havent be worried about it, all people make the same mistakes in the beginning, we can read it here in the posts.
    The thing is, we all lose money, because we are to proud to take a loss and make it green with another good trade, so we went in-play, and most time we loss more than we wanted and this happens a few times and the bank blewed up in hell. :)
    So guys, after this great posts from us all, let us choose to take that little red and don´t go in-play, make it green with the next two to fife trades and stand green at the end of the day.
    This thread should have shown us beginners, that we are all make the same mistakes, everyone has his style to get a it green.
    Let us be trader not gambler, if it goes wrong and the time is up or the trade went too far away, take it like a trader, take the loss, go on and learn and make a better trade.

    One thing i must say, i thanks mug for this page, his videos, explainasions and his great members, if i can say that.

    The thing of great people is to “hang on” “go down, stand up, it is nonseens how often you go down, it is the thing how often you stand up and fight for these things you want!”

    So guys, have a nice weekend and take the loss and stay green

    TONI

    Reply
    1. Chris

      Well said Toni…i let them go inplay and it’s not good so from now on I am going to take the red when required….time to be a trader, not a gambler!

      Reply
  10. Janne

    Im a little bit sad that we have not heard from you lately Mugs. It is what we wait for all day to watch your fantastic videos. I have learned so much. From what I have learned from you I picked two trades today.
    Lingfield 17.35. White month. I got matched at 5.4 and it looks promising so far. Haydock 20.15. Nocturnal Affair. I got in at 6.2. I hope you can give me some critisism about my trades. Hope to here from you soon again Mugs.

    Janne, Sweden

    Reply
  11. Gerry

    Well lads,
    What a great platform we have been given here by the great MG. We can all relate to the above experiences and by sharing them we can learn from them and take our trading to another level.MG has been the greatest help to me on my trading journey,only wish I’d found this site sooner. Stay positive guys and cut out the silly mistakes and we’ll get there.

    Reply
    1. Janne

      Im a little bit sad that we have not heard from you lately Mugs. It is what we wait for all day to watch your fantastic videos. I have learned so much. From what I have learned from you I picked two trades today.
      Lingfield 17.35. White month. I got matched at 5.4 and it looks promising so far. Haydock 20.15. Nocturnal Affair. I got in at 6.2. I hope you can give me some critisism about my trades. Hope to here from you soon again Mugs.

      Janne, Sweden

      Reply
  12. Sara

    Dave
    Your bravery in posting the video illustrates your huge desire and appetite for learning how to trade. That is a commitment which is lacking in most who try to be successful in pre race trading. Recognize that as a strength which will give you a great chance of succeeding.

    However , the thing which strikes me the most about this video is the size of your stake, relative to your bank size. Money management is everything in pre race trading.

    Without wishing to seem rude, it looks like a combination of several issues which need addressing. We all read markets wrong and mess up trades but it looks to me as though you are allowing your optimistic nature to rule your cold calculating trading mind. I would rather not second guess any of these issues in this forum but if you step back and take a look, I’m sure you are plenty smart enough to understand it yourself.

    Let’s pretend for a minute this is a test and I ask you this question… “under what circumstances is it a good idea to back a horse at the bottom of its trading range?”

    Anyway, on a constructive note – Have a look at this video. I think it exemplifies the natural way in which a trading loss should/can be taken in your stride. It is NOT a weakness to accept a SMALL loss.
    http://www.youtube.com/watch?v=sM5L2QnwbV4

    Keep trying to learn, keep ‘Managing’ your bank.

    Reply
    1. Dave

      Thanks I’m glad my potential is seen and yeah suppose that could be seen as a strength. I certainly have desire, I’ve spent my life self teaching things and mastering what I put my hand to, this game however bewilders me sometimes. Just when you think you have it it turns round and smacks you in face.

      I did 11 trades yesterday one was a loss and was very proud to take it and walk on but one came very close to a big loss yet again, it seems I have a habit of trading where I first lay the eventual winner or back a loser. If i could flip that for a start I could be onto something ha but surely name of this game is to keep it simple if i start going over form etc im making life way more difficult.

      Money management is definitely key to a lot of this, however way i see it i don’t mind utilising my entire bank in trades with the idea that my loss in a trade should never be more than a certain percentage. What i showed in the video is not what my bank usually is i just minimised it this week as a sort of self exclusion.

      The bottom of the trend comment well answer should be never but before i went into the trade the horses odds had been on a slow steam all day and was just levelling off so i thought a tick would be easy, never bloody is. Graphs like that I see every day and they can go either way and the stupid gambler in me thinks I can guess where its going, I would be worlds worst at heads or tails game that’s a fact. Im starting to see patterns in graphs that now say “ignore me and jog on”

      I like to think my ability to read a market is about 95% right, since early April when i decided to go for round 3 at this I have done roughly a thousand trades and less than 50 are losing trades however and this is the killer of they 50 there is 12 gigantic losses. Eliminate them and I am there or thereabouts. If i can get rid of the gambling voice inside my head and realise this is not a gamble I think i would come on leaps and bounds.

      As mugs says in his comment today though these big sums of money coming in are screwing with markets. Doesn’t seem to follow any pattern however I think someone has set a bot up to cause bounces in the market I hoping to see it without it affecting my trades. Could it be betfair trying to add liquidity with a badly set bot or to balance the odds. What I have noticed is people dont seem to be following it the same as they did a few weeks ago.

      Reply
  13. peter

    following one of my previous replys i was up and down yesterday trading then a race came up and i thought this is the one ive been waiting for and it went completly tits up lol,worst trade for months i kept telling myself it will turn but it never did, so i stood the loss 10secs before the off, 6 months ago i would have lost my head and started doing stupid things, but with the advice i have taken from mugs i kept my head continued trading what i considered to be the right races and finished the day with a modest profit. ive been trying to trade for 18 months now but only found mugs in feb, you newer boys than me keep smiling and im sure we will all get there when we conquer the pshycology and for gods sake dont go in play, there is far to much risk. heres to mugs one of the best

    Reply

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