It’ll be nearly 3 years now. First year was just studying, reading whilst ranking up in my London black taxi, then another 2 years up & down on the exchange with a heavy red because I got too cocky thinking this is a piece of piss! That hurt, and now the last three weeks I’ve had good consistency albeit small green books but I’ve learnt that slow and steady wins the race, hopefully! Started to compound my stake and profits are steadily growing. It’s been a long journey but seeing some light now. Still a long way to go cheers Si.
Thank you for your honesty about your early struggles. A some traders on YT talk as if they are some higher form of intelligence and it's difficult to filter out the bullshit. Caan keeps it real.
Took approx 14 months I now make an average of £ 25.00 per day with stakes of £ 2.00 per Tick. I found that keeping good records after around 1 month its quite an eye opener to see the type races that you lose on appearing over and over again. I just sidelined those races for the time being. Then try to learn how to trade them with practise money . When you trade these races back to back you can see where your profit went.
It took me 3 years. When I got focus on gain = draw down. I finally began to understand thinking long-term. If I could increase my account by 80% a month, I could also lose 80% I am now realistic...
A couple years with some ups and downs , stopped for few months and come back when I start to see you on RU-vid less then 1year ago , thinking about to take the second course on trading and that will be yours.
I have just started to trade with geeks toy and I dont do to bad although I'm only using very small stakes 2 to 5 pound.one common thing I keep hearing from others experiences is they have one big loss that wipes there gains out.why would the loss be much bigger than the gains,this must be a case of trying to chase losses and making it worse.i just except the small red and move on,this mentality has kept me profitable.
Learn to trade without money. It might be hard but it is worth it. Once you learn then use high balance with small trades. Any shift in the market then you are ready. I will start in a few days
I've been trying for over 2 years. Not successful yet, but not about to give up. Can have several small wins, then a big loss which wipes out the previous profits and more.
@@CaanBerryProTrader exactly Caan. You probably don't remember me, Danny Allaker, spent so much on your material and others, with most going in the markets. Your reaction tells me I should have given up long ago.
@@dallaker If you feel like it's within you to succeed then stick with it. When it turns around you will feel 10 times better about sticking with it. Me personally I have dabbled on and off for about a year and had no consistent success but I feel I can make it work. Discipline and selection is my biggest weakness
Hi Danny new myself just wanted to ask when you say without success do you mean never in profit or more not sustained to the point your earning well? 4 years seems a long time hats off to you
@@tottyrule I agree with your comments. I am a newbie but I feel A. This is something which feels so right for me and B. I am determined. I kind of think if it can be learnt I will learn it (may take longer than others but that is not important to me) I just want to keep improving and see no reason why, with time and effort I wouldn't. :-)
Nearly 2 years of trying hard (dabbled for a few years before that)..mainly with automation as well which makes life a bit harder perhaps.:) I love the technical challenge of it but suddenly realised the other day that I haven't had to top up my balance for 3 months! :) Guess that's a win. I also have realised (slow learner and this sounds obvious but you have to grasp its meaning fully and I think a lot don't) that you have to have an edge..or at least a set up and stick to it (manually especially)..then have another if that works. That's how you build- which is something I heard you say, Caan, re building blocks.Tacit understanding is all I suppose.Took me a while to fully realise this. Sticking to setups removes the guess work and removes the panic at a red screen for me. It is just a system..win or lose. You look for the conditions and then enter without emotion.If the balance goes up over time you have something , if not you need another setup.You can't predict the move..you can only look for high probability and maximise the outcome if possible.That's my theory anyway. Great book Caan.Enjoyed it and it helped me a lot. Good luck all and keep up the good work Caan! :)
For pre race horses - I spent around 3 months reading and watching videos dabbling to understand the idea after coming from a matched betting background, then from month 4 downloaded the software and didnt actually have a clue until i started to discover strategies, now on month 5 i practice and watch videos basically every day to try and get the market exposure in so i can make better judgements. The problem im trying to overcome now is not being selective enough about which races to trade and just jumping in to every one. The psychology side is a lot easier said than done. Feel like im doing 2 steps forward 1 step back too. A big factor in how long it takes somehow to learn would be if they work full time as opposed to being able to practice every afternoon
A couple of years to get to break even and then making small profits. Watching the markets and the way the odds move, screen time. Being selective on races. When to enter and exit the market. Discipline and not going inplay but taking it on the chin and accepting a red.
Caan, this is your best, most meaningful video yet. I only downloaded GeeksToy and opened a BF account a few days ago. Am a complete beginner. Thanks for this. I can now see the wood for the trees. Seriously. . .thanks!
@@CaanBerryProTrader Nice one, Caan, Thanks for replying. The main thing that's struck me from a newbie standpoint is that, aside from watching your's and Peter Webb's excellent videos (esp. on scalping) over and over for many months and STILL being confused, I can tell you for sure that the best thing any prospective new trader can do is simply to download the trading software and just spend time PLAYING with the ladders and learning the features of the software itself (in practise mode, of course!) as I did over this Xmas. Now when I watch all your stuff on RU-vid it makes so much more sense. Until I got the software I was in like a rabbit-in-headlights, but things are much clearer now. Cheers!
from a personal point of view I would say you should concentrate what youre good at, to get to that point its all trial and error, if youre comfortable pre race then concentrate on that, if youre good in running then set out out be the very best, some of us are racing fans I think that makes a huge difference no matter what some say, I am of the opinion the market knows which horse stands a good chance, this isnt all purely down to form either, for instance the horse may be a steady improver as far as OR go or off todays weight and class it has run badly against similar horses, in the market you would expect the odds to steam or drift depending on your information, youre notgoing to find that information just looking at form, in running is a different animal and its certainly not all about backing before the off expecting it to hit 50% of SP, how long has it taken me so far? Well ive been an out and out racing fan for over 10 years , I concentrate mostly in running looking for signs of distress or travelling well , I avoid like the plague anything under 1m4 as things can change so quickly, you cannot trade every race, you should be looking for that one opportunity, the perfect storm I call it and maximise without any stress, I am still learning every day, I admire Caan as he is quite open and helpful, he is also a rare breed that has mastered pre race and in running, I m pretty hit and miss pre race and mostly wait sometimes for an hour before I see the right moment to enter, with all the information out there these days I would agree 3 years minimum, certainly as hard as gaining any city and guilds qual, thats the amount of effort you have to put into it. Im always thinking about trading and how I can improve, Im certainly a lot better than I used to be as far as profit goes, ive made thousands checked out long term lets in the Canaries and then lost it in one mad afternoon , think about it, if you could complete just 3 successful trades a day in which you maximise your profits you would be very happy. By the way I am not a pro trader, its just I have a real passion for racing .
I'm not sure how everyone trades but it has taken me a whole year with my own very, very selective system to get to a more or less level stakes profit of 87 points. And that has been by getting involved in a very specific type of race, totalling 301 races from day one.
I'd say that's a good approach. Many successful traders really push the importance of specialisation at least initially, focusing on one kind of bet then building from there. However, 301 races in a year, that is an incredibly small sample size and so a very select opportunity and the problem with that is it's very difficult to know if you're just being fooled by volatility or just running well over that many races. However, it probably is that you have a decent edge, it's just going to be very difficult to capitalise on such a select type of race that happens less than once a day on average unless you start using large stakes, thus, increasing your risk, and risking that with large stakes the strategy doesn't work as well, as with many strategies.
After about 4/5 years of being a “punter” researched trading for about 2-3 months before starting(used BA) to trade, mainly after work or weekends. Saw a steady profit from the first few weeks, maybe about 4%+ per week using small stakes. Problem came when I thought I could take the same approach/edge to tennis & under 2.5s. Lost half a bank roll in 3 weeks. Good learning curve
Been interested for years, just decided to give it a go properly(football, just goals)........in a short space have managed to eradicate 'blow your brains out' and chasing losses.........I am identifying loads of things, I cash out much too early, and dont take risk when I should.....but making progress mentally .still in the red.
I never had any luck with horses so i concentrated on football. I waited until half time then layed whatever the score was. I was working on the stat that there are more goals in the second half than the first. I had a good run but then i hit a losing streak and it soon wiped me out.
People are making trading difficult over analysing it is just price movements and getting the entry and exit strategy right. In-play sucks! My advice always trade pre-off no DOBBING or Dutching and stupid back to lay etc in-running crazy!!!! The price movement on a horse does not idicate if a horse will win or lose!!!!!
There is no hard and fast formula but it depends on good knowledge, experience, trading before results and luck. Only creative mind run longer. Anyhow well presented mate. Thank u.👌😃
Its impossible for me to answer it cos ive been on and off with it for years. First got Betfair in 2003 and like you didnt even know about trading or software ect. I would say from the time i thought i really want to make a go of this and taking it more serious was about 18 months to 2 years. Looking back I could have done it a lot quicker but have lots of other projects too
Hi Caan, I have never traded before, but my first step on this long road will be to buy your book, then your course. Thanks for allowing us the opportunity the escape the daily grind.
Half way through your video pack and about £15 down trading using £2 stakes, winning much more races than I lose but the losses have wiped the profits and a bit more. Must be psychological because when using training mode on geeks toy my losses have been massive (not real money). If I can limit losses I'm confident of cracking it in the future.
Hi. Appreciate your post was a long time ago, but having only just seen it I wondered what your views on the video pack were and how you're doing now, a year later. Cheers. Thanks.
what are you guys trading on? actual stocks? or are we talking sports betting? thanks guys. Iv been having a tough few years. First year lost 5k second year 2500. the last couple years sitting around even on sports lines. I have had some crazy runs and some crazy bad beats. One time betting on the Russian ice hockey I was up 5/3 the other team hit 2 goals in the final 11 seconds. I seen it all in sports.
It's simple to become a profitable trader (well in theory), you just need to understand who your enemy is and how to beat that enemy in the markets, once you can conquer that person (which is actually really really hard) trading becomes really easy and also really boring .... lesson number one .... you are your own worst enemy and that number one enemy.... beat yourself and you will profit! The problem is knowing the answer is only the first step..... that's why it is hard to become a successful trader, you have to conquer your own emotions, it's hard to beat the part of you that wants to win and you have to embrace the part of you that is happy to lose!... Successful traders are happy losers, who accept a loss extremely quickly - yep figure that out! However that is the key to successful with trading!
Maybe caan we can do a controlled study on a group of people where we could have a bet on who and what time they will be in net profit 😂😂 Good honest video,couldnt tell you how many phones ive been through 😂
Been doing trader just over 5 years. Mainly trading on horse racing. before that doing forex trading. How got on to betfair was I arbing with bookies. Then come across betfair which is better than doing it with bookies. On my betfair account I’m losing more than I’m winning. Was doing lay betting few years ago,just laying 20 or 50 stakes. Account start at 300 dollars then got it up to 2000 after a month. Just took one day to wipe it all out because I work all night no sleep to try lay horse after I finished.Trying to make 50 a day. Over the last year I’ve give trading up to do cryptocurrency or bitcoin. Come back to trading again because you need multi stream of income because if one fails you have one as a back up. Plus stop before because I couldn’t trade U.K specially being in Australia 🇦🇺 and having a partner too. Now trying to trade Aussie racing in the day. Back to lay trade now. Been losing money because horse has not lead and lose 100% stake. I have try a trailing stop loss on it, worked for few trades then got stop out for a loss and the horse was leading plus horse did win the race.
I was a not too bad horse gambler, or lucky. Bought Bet Angel and a few books in 2008. Did not work well. Drinking heavily did not help. Running through the matched betting low hanging fruit but this will not last. Learning more and more about trading at the expense of my degree lol.
Trading for 2 months not been profitable as yet. However managed to retain 3/4 of bank and wanting to learn more. Have found most losses come from lack of discapline, jumping in on a 2nd trade after winning 1st !!! Don't do it. It's hard sometimes something just looks so tempting, however proved it again today was up £6 thought i'd carry on ended up down £2. So I think Major advice Caan said was, knowing when to say NO! I would be interested to know of resources on net available, since I have learnt from youtube and MB sites but where can one find resources to hone horse racing trading skills?
@@CaanBerryProTrader Hello, thanks for reply. So i'm thinking, deciphering form, specifically. Sometimes I see a phrase wich seems ambiguous. Like "gets held up" & i think, does it mean held up on pupose by jockey, conserving energy, to let go later. Or does it mean always gets stuck behind the leaders. I have picked up some but can't find any thing which really tells me what those kind of phrases mean. I do google and watch your videos as well as others and always get something from them. Infact (call me cautious) I tend to go over and over stuff as i find i can often find things i missed on 1st view. I really like when you tell us things, like how the horses are looking when they go down and what to look for eg, jockey pumping a horse. All very good pointers.
Your two steps forward one step back pricked my ears, can do 3/4/5 steps forward at 30% each and then one BANG :-( I think I need to be more selective, pick my fights as you say.
Market Wizard Stan Weinstein: “Although the cheetah is the fastest animal in the world and can catch any animal on the plains, it will wait until it is absolutely sure it can catch its prey …it will wait for a baby antelope, and not just any baby antelope, but preferably one that is also sick or lame. Only then, when there is no chance it can lose its prey does it attack. That, to me is the epitome of trading.”
Again, 5 races traded with nice profit, last trade wiped out all the profit and a little more.Fav went from 2.00 up to 4 in the last minute, How am I supposed to see that?
I've not been trading for very long, although I've made loads more successful trades than unsuccessful, but, the unsuccessful ones lose all the money I've made from it. Keeps resetting back to what I started with. Really annoying. One bad trade, wipes out 10 good ones.
Just to mention, my successful trades are only 1 or 2 ticks, at very low stakes while I'm learning. I find the problem might be when I'm jumping on races at 7 - 8pm. Find resistance points go out the window. I'd love to know what the ideal race is - does race length matter, how many horses are close odds to each other etc...?
I made mistakes the first week with small losses , then the third week got more of the hang of it. Now making small profits daily . I think it helps that I'm not a TV sports fan ( I like training/running but not watching events ) or a gambler by nature..so its all about the figures and strategies with me. I am very risk adverse so until I feel more confident in my strategies I won't place bets higher . My target moving forward as a beginner, is to make £100 per week consistently. If I achieve that, I will increase my bankroll and set new targets incrementally.
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