so what is the perfect steak when you're trading we have covered in a previous
video how you can adjust your steak in but this video addresses exactly what
that perfect steak is please like and comment on the video below that will
allow me to produce better quality videos and more of them in the future if
you're interested in learning to trade successfully in sports then why not
visit the BET angel' Academy where we have more detailed videos so when you go
into a market you obviously want to trade with as much money as you possibly
can but you don't want to trade with so much
that it distorts the outcome of your particular trade and when you go into
the market if you're using two-pound stakes then money's gonna go in and out
of the market but relatively if using 10-pound steaks that will probably
happen and then as you start going up the scale in terms of the amount of
steaks that you're likely to use that's going to change the way that you trade
and I have mentioned in previous videos that one of the problems that I have is
adjusting my steak to sort of a sensible level because I have more money than I
can reasonably stake in the market so when I go into the market that nearly
always the first judgment that I make is what is my steak going to be what how
big is my trade gonna be now when you're starting out it's not really a problem
because you start with small steaks but the problem you get with small steaks is
you will always get small returns a lot of people never ever get off of small
steaks because they're working away with their ten pounds and their 20s and their
50s and they're thinking well I'm not really making much of did all of that
work for 50p or whatever and the fact is that is normal that is exactly where you
would expect to be and you should not focus on the amount of money that you're
making when you first start trading you focus on your strike rate because if you
couldn't get your strike rate to a reasonable level then it's probably
quite likely that you will be able to scale so even if you're using relatively
small steaks just gradually keep increasing those steaks and they'll get
bigger and bigger and then you get this sort of exponential curve if you're
trading successfully where it goes to much much higher levels now when you do
that you'll be quite comfortable and you eventually find sort of a level at which
the staking starts to sort of break down so the equity curve that I have in my
cow salùte when like that and all of a
sudden I realized that if I was putting too much money in the market it would
affect the outcome of my trade so the next question I asked was why and that
provides you the answer to what is the most sensible stake so imagine is doing
a trade and you put some money into the market and to complete the trade you
need to pull the money out again so the trading process is the case of opening a
trade and then closing a trade and then eventually hedging your position at some
point in the future where you may repeat that process again in a game so putting
the trade into the market because relatively straightforward you can offer
money to the market you can take out a particular price and the market will
always accept your stake especially if you decide to take a price out but the
problem that you have is getting the trade back out of the market so whatever
you put into the market you're going to have to get out at some point
so the way that you think about the perfect trade side is nothing to do with
the liquidity of the market or other stuff although that is sort of related
but what I'm trying to say here is that your entry stake is almost an
irrelevance really your stake size should be set by how quickly can you get
rid of your position if you think it's going wrong so if I go into market
that's very liquid and there's loads of money flooding through it then I know I
can up my stake size because if I need to get my position out I can but can you
imagine the disaster that will await you if you go in to the market you use a
stake that's too big and then you're unable to get out the only way that you
can get out of your position is to start taking prices out that are available and
if you start doing that you're going to start losing money or your position will
be significantly weaker so at a core level the level of staking that you
should use should not be related to how much money you want to make what your
target is it should be directly related to how easy it is to get to that
position out of the market and this is where fillrate comes into the equation
so fill rates for me is if I put two orders into the market how quickly will
they get matched will it take a second two seconds five ten thirty Seconds four
hours and basically the perfect trade is where you can get a position in and out
of the market in really really quick time so the perfect trade would be you
offer a price you offer press there and it's gone and
that is the perfect rate because the amount of time that you leave the trade
in the market it can be an expression of risk so if we can get a trade in and out
of the market in milliseconds there's virtually no risk in there but if you
have to leave that trade open for ten minutes
they let the chance of that trade going against you gets bigger the longer you
hold the position in the market and that's why you focus on the exit trade
or the amount you're using for the exit trade because that's key to a successful
trade so you put a position into the market and you're sort of thinking do
you know what I think I made a mistake there or it hasn't done what I expect
and you need to be to get rid of your position as quickly as possible
and this could be applicable on anything tennis football racing golf darts
snooker whatever you fancy that will be the thing that determines how big your
trade is it's the ability to get out not the ability to get in so when I look at
what my stake level will be I set up a bet angel and I look at the volume
moving average and the volume moving average tells me how much is going
through the market over a defined period now depending upon how fast you've got
your refresh set up at you'll find that you know if you've got your refresh set
up at one second then you may want to use a ten or twenty second interval to
measure how much money's going through the market at that particular period of
time but when you look at that average volume that's going through the market
that more or less is around the maximum stake that you could use so if you've
got a thousand pound going through the market at any one particular point then
you can sort of say well okay you know if I have a thousand pound and I've put
it in it probably won't fill within a second but within a few seconds it
probably will so I feel sort of comfortable maybe around double the
average volume and and that's what sort of determines where my stake is now when
you're starting you don't really need to worry about because if using tenors and
fivers and 50s the volume is always going to be above that level but also
the volume in the morning is non-existent there is no volume so
that's why the risk of doing a trade in the morning is so high because if it
goes against you you're doomed so you've got to use small stakes and if you use
small stakes you weren't returned much because the average return when trading
is measured in in a in percentage terms sometimes in tenths of a percent so
that's why doing it very early on when there's no liquidity is
very risky and then volume rises during the day and then in the last 5-10
minutes volumes very high so that's why most of my attention is focused on that
particular period because that's when I know I'm taking less risk there's more
money going through the market I can sell a position back if I think I've got
it wrong or if I'm in a profitable position and I can offer it to the
market and somebody will come along and take it but the thing to remember that
when you're starting out your returns are only going to be very very small now
if you keep them very very small you don't compound them and you don't start
adding to your bank and then you'll never get to the higher level but you'd
be amazed at some of the money and that I put through the markets and how much
I've put through and the small percentage return that I get on it
because what I'm doing some testing the market I'm putting an order in thinking
is that gonna work yes it is great I'll take it out again and I just work the
market that way so sometimes I can rack up pretty large totals but the return is
always going to be a small percentage of that and so when you're at low stakes
sometimes it feels like you're not making anything but that was exactly
where I started when I first started had a bank of a thousand and I was using
small amounts of money and I was getting small returns but I just consistently
added to my bank which gave me more capital to work with and then all of a
sudden you start getting into this where is the best place to be in the market
and what is the optimal stake you get within the market but also optimal
staking is to do within where you are within the market if you're in the
market and the turnover is low then the chance if you're getting a decent trade
through the market and at sensible risk diminishes so you need to be in the
market where there is peak volume first thing in the morning there is no volume
you're taking significantly more risk and if the position goes against you
you're not better closed out without taking some of the positions in the
market which will push you into a loss but as you approach that period and that
sort of sweet spot in the market on racing between five and ten minutes
before they off when the courtesy is high then you can do pretty much
anything there's so much that you can do in that period and with reasonable
amounts of money and even if you're using smaller stakes you'll be doing so
at smaller risk so the answer at the end of this video is that the optimal stake
is related to how much money's going through the market and your focus
shouldn't be on how much money you want to use how much money you want to make
or any variant thereof it's focused on the ease of exit
of your trade
you
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