Thursday, 30 January 2014

February Looms, Trading Guide & Database Update

So it's been just over a week (by one day!) since my last post.

My plan was to trade on Tuesday night all fresh and ready..I also had a point to prove that I could trade without using live pictures and only via scoreboards to another blogger ;). However I realized I had set a deposit limit of £100 (I think I didn't intend to want to deposit anymore then this within the first month but whats occurred has occured!) on my Betfair account for the month so I couldn't deposit the money I wanted too.

Therefore I won't be trading again until next Tuesday, although I am very much looking forward to it.

Whilst' on the subject of trading, Justin from http://www.thetradinghouse.co.uk/tennistrading.html has opened up his guide again for anyone who wishes to purchase it.

Now I'm not one to normally mention services, however I have a good relationship with Justin and he has always been quick, polite and courteous whenever I have contacted him and asked for help, which is why I have a link on my blog to his site and have done for many months now (It's underneath the header of the blog name).

I have to say hand on heart that his guide is definitely worth the money, I have it and although I don't use the strategies laid out in the E-Book per-se (I wanted to complement my trading with the information, rather then change my style completely), it is very well written piece of work.

I use a mix of information from it combined with my own strategies that is quite pivotal for me, there is a lot of useful information even for experienced traders.

You can read on his page what you get for £45 (and you do get a lot IMO compared to the majority of rubbish out there) so I won't talk about that here.

What I will talk about is my experience with the guide and the forums. Justin's methods are based on mechanical trading techniques. The strategies require no form reading or live pictures. What they do require is patience, perseverance and using them at the correct time.

It isn't a golden goose laying egg or get quick-rich scheme, it is trading using mechanical analysis of the market and it requires EFFORT. Justin mentions this several times on his site, he isn't selling a get-rich no effort 'system' and doesn't pretend to be.

For the sum you pay you also get 2 months worth of forum access, I can first hand say that several of his members have been very successful with his strategies/guide and I have seen the screenshots/threads of one particular member who started off with a low 3 figure bank and is now making very good money.

Anyone who buys the guide I strongly recommend you use the forums to your advantage, as well as checking out the vast amount of screenshots of matches his members and himself submit there. Not only do they help to show the opportunities that were present in matches, members say when they entered, talk about what they missed, could of improved on, mistakes and errors. It's all a learning curve and it helps to develop other people's trading as a collective.

Unlike most E-Book's that are very small and just name basic strategies, Justin goes into great in-depth detail. The E-Book is broke down into logical steps.

There are loads and I mean, LOADS, of graphs that help you understand the potential of the strategies and entry/exit points that could of been achieved in each game, they are each annotated, some in quite detail, so you are not just looking at a graph, you are understanding and learning how the strategies can be applied in all kinds of scenarios, at different price ranges. Anywhere from 1.01 lays to over 100+odds backing.

Recommendation is made to use the main strategy first of all before attempting the others so you feel comfortable. I can tell you now the pricing information that is included is worth the price alone and no that is not a lie, I use it as the forefront of my trading. Whilst I realize I made a loss in January and that might not sound appealing it is not strategy error rather then ill-discipline gambling mentality from my part that has caused my losses.

The pricing guide included is very very accurate, it is worth the price of admission alone without a doubt when used correctly!

The only minor criticism I would have... and it is a very small one! if Justin supplied them he would be more then warranted to charge a higher price, is there are no videos.

The plus side to that is that there is a chat-room that you can use to communicate with other traders, Justin sends out regular E-Mails to keep members updated on different aspects of the site, trading tips, when he will next be in the chat room for a trading and/or Q&A session.

I asked him loads of ridiculous questions when I first got his guide on the chat room, he was always happy to respond even though quite a few of my questions were pretty basic!

I don't really have much more to say other than if your looking to either learn a new method of trading, starting out as a beginner or looking for more information - the pricing guide for example (like I was when I bought it), for £45 and the forum access you can't really go wrong.

Compared to the cost of coaching which to be honest, with sports trading, I find ridiculously over-priced, it is a better place then any to learn how to trade the tennis markets for low cost and I've not heard a bad-word said about it or member complaining at least in my time using forums/chat rooms.

In regards to the database, I thought I had been sent a new version. Obviously I read my E-Mail WAY too quick from the developer!

In regards to that, here is what he has to say about the next incoming version:

The parts in Bold are mainly what I requested and below are his responses.


 "
Some of your bugs and requests have already made it into the program. The crash when first trying to insert a trade should be fixed now. I added some more sanity checks that actually should have been in there already
I asked for a event filter based on Embor's request/comment, developer feels the following way is the best way to go about this, increased flexibility rather then having men/women/tournament filter. Easier to use for several sports this way.
I have also added an Event filter. You just insert a text string and it filters the trades based on that. Next step there is to add multiple filter terms to it, comma separated. 
So you could then filter events on different strings without them having to appear in a certain order. I think that will be good to have.
That way you can enter an event as “ATP Moscow Foo Bar Tournament Etc” and filter for it using a string like “atp”, “moscow” or to narrow it down more “foo,atp,moscow”.
The reason for this is that I think a special field for switching between sport-specific characteristics of a trade would be a bad choice. It would be better to put that data in the event field and filter for it like explained above.
A similar filter for Description could be added too, of course, if this would add some more power.
Small error I notice in spelling and ROI/Strike-rate figures back to front on the compare strategies part of the database.
 
Small errors like Strategy spelt wrong and ROI/Strike rate mix-up have been fixed of course.
 Mentioned that the date format kept re-setting whenever I exited and restarted the program.
Date format: this will stay like this until I add settings persistency between sessions. So it’s not really a bug, just a missing feature that is still planned. I am expecting some more user settings to appear in the future. 
They will all move (so including the date switch) to a separate dialog that you will know from almost every other program Edit –> Options / Settings.
Still to do for the next version:
 I asked the developer if it was possible to see the graphs based on No of trades and/or days of the month as it plots the graph.
- Fixes to both graphs and adding the switch between day/trade (which of course is perfectly possible). The Year graph *should* work this way so must investigate what has gone wrong. (+/- 2 hours work);
Some small fixes for conflicts/errors.
 
- Some miscellaneous conflicts I ran into while testing (+/- 1 hour work);
 Developer wishes to add credits to people for there work on components he uses in the database.
- Adding credits to people for some components I use (+/- 30 minute work);
 I requested the ability to have each sport have it's own strategies box/list. This was to make it much cleaner. Rather then having one big list of strategies, they will now be listed under the appropriate sport - I will show this in the next video of the next version. I asked also if he could add an option so that we can move strategies up and down the list for ease of finding a strategy e.g. putting them in Set or alphabetical order.
- Sorting strategies by sport in the strategies dialog and adding functionality to manually order the list (+/- 30 minutes work).
Unfortunately, it’s all go at my work right from the first day back, so I will need to squeeze this into small sessions in the evening. The good thing is: I have not changed anything to the database yet so even if you are still entering stuff into your version this will not be a problem. 
I will ask you for your trades.db file again right before I do the last item in the list above because that is the only change that will require a change to the database structure.
Mentioned I would like to have a name for the program and also to add a logo onto the front of the database in the spare-room area, make it a bit nicer / small graphical touch.
 
Let me know if you have a new name for the program and possibly a logo, I will add that too."


There is a lot more planned for the database in the future, please feel free to comment on anything you believe would be important feature wise.

Once I have the next version it will be available for general testing/use. Of course it is likely to still be buggy in areas so this is why I will require feedback to help improve it.

Until the next post. If I have the newer version of the database before my next planned post, I will write a post announcing it.


2 comments:

  1. Yes, you can contact me on icemanv6@googlemail.com

    ReplyDelete