I've been doing pretty well trading the financial markets (albeit with a small bank) in the past year and while it's good to pat oneself on the back for a job well done, I won't pretend I didn't catch some good lucky upswings which greatly added to the total. Still, I feel I'm learning all the time and still find it absolutely fascinating, which is great as I don't get bored reading or learning about the topics.
But there's tonnes of room for learning/improvement. Despite keeping in the black, I've really only dipped my toe into the water of financial trading and want to take it a bit further. So tomorrow, I'm starting that diploma with the Irish Institute of Financial Trading and I'm looking forward to it immensely.
The course was expensive, €950 in fact, and I'm not naive enough to think this will be some sort of silver bullet that will make me become a super trader or anything - but there's only so much you can learn at home from reading books/websites and I think the course can't hurt. I've hear very good things about it anyway so fingers crossed.
When I first started trading on Betfair, I lost a fortune and I wish there had been some sort of course out there back then. I eventually done Peter Webb's course (founder of Betangel) and it set me on the right track. That course was expensive too but it paid for itself numerous times over at this stage. Hopefully, this diploma course will eventually earn/save me €950 cost the cost over time.
Elsewhere, I see that Greece hasn't met its targets and we have (yet another) 'crisis' with the Euro. You kinda wonder how many crises' (is crisis' the plural of crisis?) we can go through before the arse just falls out of it.
Whatever happens with the Euro and Greece, hopefully some of us can make a couple of bob out of it somehow. I've no positions at the moment though as I have to get some funds back into my trading accounts (I withdrew quite a lot when I went off on hols).
I've a busy week ahead and my missus is away for the week at Cambridge to study so I doubt I'll get near the Betfair markets as I'll be minding my daughter when I'm not working. If I can nip and hour or two here or there, I'll report on my progress.
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Hello Wayne! I'm reading your blog very often and I just wonder...you said Peter Webb's course set you on right track. What did you do before course? What kind of mistake. I'm asking because I live in Slovenia, where Peter don't do his seminars. So I'm learning on myself, through videos and stuff. But I don't want to do same mistake as you said. So now, can you set me on right track, only for free? :D
ReplyDeleteJust one question. I read interview of yours, you said that you've become good trader, when you realize that you can't predict market.
Well, (mayme I'm wrong) Peter tries hard to predict whick way market will go, right? So I'm little confused :S
Well, hoping you will learn good, and find silver bullet. There maybe can be only one word in your life that you needed it to be really succesful.
Davorin
And just this....on your trading, are you still using your resisting point system, and just this system?
ReplyDeleteD.
Thanks for the comments Davorin,
ReplyDeleteI guess it was the usual mistakes we all make - no stop loss, going in-running, overtrading, trading out of boredom, guessing, adding to losing positions etc etc.
With regard to not predicting the market, that comment was specifically regarding that scalping strategy described in the article. I wasn't speaking in general, I was only speaking with regard to that scalping strategy.
Still using resistance points, I find it useful but I don't rely on it totally - I have a few other strategies and try to do what is best, depending on each market.