One thing that has caught me out several times which I have finally noticed is the switch in market direction that tends to happen in the last minute or two before the off, when trading on a horse race.
There could be an easy to follow trend from over 10 minutes out, but in those last couple of minutes it nearly always swings the other direction. Now I've noticed this, I can use it. Too many times, I've built up several good trades throughout a race and then been stung right at the end. I now trade up to the last couple of minutes and then when (if) the market swings the other way, I am ready to ride the wave. Anyone else noticed this, or am I giving too much weight to the last few races I traded? Anyway, this technique has helped me avoid getting bitten during the last few trades.
"How to Stop Losing and Start Profiting"
1 comment:
This does happen, The reason I think is because all the pro traders who have rode a win all the way and they get off near the end, some traders use stakes of over £2000, so they unload a £2000 stake and all the others think the market is changing direction so they all unload there big stakes chasing the odds the other way. I'm not very good at explaining things but you know what I mean?
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