Choose your battles carefully. Do you trade every race as a Betfair trader? Most do. I used to. Why? You crave action.
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Trading is and always will be a game of controlling losses. Some traders are simply a bankruptcy waiting to happen.
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Betting exchange trades depend on how well you answer one question. Everything else is commentary.
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Value bets? What do we really do as traders? When you strip away everything we end up with just one thing.
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But always use a stop loss. It closes out a position or trade automatically should the price move a number of ticks against you.
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What's better? Taking many trades that have a reward to risk ratio of 1 to 5 or taking many trades that have a ratio of 5 to 1?
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Bitcoin Commission Free Trading - How Is It Possible? There will be no transaction fees on any trades on Digitex.
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You can be patient with your entries or you can be patient with your exits - but you can't be both. Be selective on price.
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Emotions can have an impact when trading. Nothing says rejection like a stop out. It triggers so many horrible fears.
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Volatility stops? Equity stops? Who are we kidding? Do you either chase the move or fight the market?
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Selection trading is simple? All you need is a strategy with positive expectancy and the discipline to follow it?
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Be successful. Today. Every happy trader is different but every unhappy trader is depressingly the same.
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Make sure that you match the timescale of your prediction of the price's movement with the amount of time you hold your position.
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When trading on Betfair or Matchbook, success goes to those who seek to win, but more to those who learn how not to lose.
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Stay focused. Remember, putting in a counter-trade two ticks higher than you just laid could be just gambling, not trading.