"You are making yourself lose because I am wining. I just do the opposite what you are thinking or doing". Oh wow..such a great philosophy not only for trading but for life as well. Thanks your daughter.!
Great video Peter. I was just like this when I started several years ago. And its amazing that even after all these years greed and fear can still break me. Its a constant learning curve but a fascinating career to be in. I love it every day I trade win or lose its very addictive
It was my big problem when I tried trading on financial markets. I slowly learn that it's a key part of trading any market and one that most people underestimate.
Cracking video pete as always. Keep them coming on this subject. The real trick is knowing when to carry out your daughters well put message. Following it blindly wont do but knowing when to do it will bring success.
would be great to see trading videos with commentary through the psychology lens of this video. Also would be great to see more of your daughter learning trading videos, she probably made all the same mistakes that we will make when first starting out.
Yes more videos of you trading with explanations...or.....maybe do a live stream for a whole day of you trading!!!..we would learn a lot plus we could trade at the same time and we would know which way the markets are going to head when you go in with your 10k stakes. 🤣🤣🤣
Great video, thank you! I notice if I sit and watch a few markets I'm able to go with the flow and grab a few ticks but if I jump straight in I end up jumping in when the trade turns.
I know you said you have had the same experince in finanicals (to make other feel better) but I feel your insight comes more from the numerous novices youv'e seen and tried to help! Great video as usual! I just renewed my Bet Angel licence this moring so I can't buy the mug just now but I promise to buy it next video!
I actually edit out a whole section where I talked about my experiences with novice traders. So you are right that this was a key level of insight. I just felt it made the video a bit too long!
Great video Peter, I am slowly getting better at this and applying it appropriately to my subjective trading method. I am hopeful as my experience of applying this in the right situations gets better, so will my returns!
Thank you as always for sharing Peter. Could this be over-simplified for the greedy-novices (like me) into > it's usually best not to follow the crowd (as you've probably already missed the prime opportunity); or is it a lot more intricate than that/I've missed the point?
So what would happen once everyone cottons on to this idea and everyone is just doing the opposite to what you think will happen should we then switch it up again, and can you measure this to know if and when to go against the grain over the long period?
when you are thinking about what others are doing is this not similar to "levelling" in poker where thinking too much about what others are thinking about costs you money?
@@betangeltv I get you now. different market / conditions. It's like when a grand master tells you you can get checkmate in 3 moves if you move your bishop. You can believe him since he has studied countless moves. Real life markets can be different. I liked this video
Hello peter , I stumbled across something similar one day when i didn’t realise my BF graphs where inverted and I was trading what I thought was the continuation of a trend. I wondered why my struck rate was so high that day. I put it down to beginners luck, do you think this is the same as doing the opposite to what you think?
Sort of. In the US open tennis finals both eventually winners were almost certain losers at a break down in the last set and trading at tiny odds. So from a viewer perspective the final was over, but from a trading perspective, it had just started!
Thanks Peter for sharing with us this useful knowledge. I learned a lot of your TH-cam videos I guess your one of the few persons that I can trust my wallet.
Great video, I have often thought that a monk or someone spiritually enlightened would do great at trading because of the non-attachment. Do you think this could be true? I've been attempting to master the markets pre-race on and off for 5 years without success. I'm not quite sure at what point I am meant to give up 😅
As someone who was a Buddhist monk and lived in monastery for many years (20yrs ago) and since leaving now works in human performance/psychology I can state the mind still plays tricks with you. Attachment is the last of all faults to break. 🤫
The next level up from there is to understand all the cognitive biases that people exhibit. So even if you are thinking about way the other person is thinking, the outcomes may be very different.
omg....Too much thinking for a Sunday morning lol! Erm...afternoon even! I had a large lie in. I will have a look for the rock paper scissors thing and the Prisoner's Dilema! Wow...your daughter is so right!
Even with stats it's worth, excuse the pun, thinking about. I was purely a stats guy for ten years, but have incorporated some of these ideas into my trading now.
@@betangeltv Well, nothing ventured nothing gained, as they say. I'd better look into it. It's like being dragged back to school by the ear, once more, lol.
It's worth looking at. There were some things I couldn't explain by stats alone until I started exploring some of the psychology. This is link is pretty epic if you want to explore all congnitive biases - commons.wikimedia.org/wiki/File:Cognitive_bias_codex_en.svg
Thinking about taking the plunge, I know targets aren't reccomemend but I'm hoping to be able to consistently obtain a p+l of £2.2 - £4.4 per day with a bank of 500.
Obviously went you start you will probably lose money while you get used to things. But from a trading persepctive £5 per day on a bank of £500 is quite a low number. Have a look at this video - th-cam.com/video/0ILbkdZpVps/w-d-xo.html
Thank you Peter, I've been collating advice from all of your videos including the one you have tagged, I feel like I need to develop more of an edge hense the Conservative target.. I know you offer paid tutorials, is there one in particular you would reccomend for someone who has had limited success with automation but a "high" success rate with manual trade (I say high as only a few months not long term)
Got a lot out of this one Peter, thanks for putting it together. Re other videos?.. I recently read a headline "I never lose a bet".. apparently it was to do with Football Trading on Betfair where "you win most of the time and if you don't, get your stake back"... they were quoting £3,000 to £6,000 per month... if anyone knows a strategy around this (if it were true) it you would, surely? A video about that would really help me out right now.. even a mini course which - I for one - would happily pay for .. my aim now is to create a sustainable income from trading (I've taken some of your courses already)
I've seen this and other systems and basically they effectively chase losses throughout the match or primary or secondary markets. This ultimatley ends with a massive loss at some point when circumstances conspire against the process. Just challenge any purveyor of these types of systems to prove their long term profit. If they never lose they should have earned tens of millions.
Hi Peter, great insights as always. I’ve been working on my trading and getting good results and slowly increasing my stakes. Ive seen you using up to $1000 stakes in some videos - in a highly liquid Saturday market would that be your realistic limit on stakes or could it potentially be higher? Would be nice to have an idea of what I could aim towards in the very distant future.
It never is in reality, try doing it. But the that is the essense. When the stock market plummets I buy and when it's soaring I start selling. When the guy in the corner store asks me about some hot tip he has had, I'm more or less out!
'Just do the opposite to what you think' - the number of times i've thought that on a bad day's trading. But in the cold light of day that seems to be such a tilted mindset. Unless, of course, my first thought is the same as the group's first thought. Hmm
When I first started trading Tennis I was getting it all wrong. Just when I thought a play had won beyond doubt they would snatch defeat from the jaws of victory. It was often when a player was in the last set and a break-up, so I started doing the opposite and it worked a treat. But of course, it's quite a nuanced phrase and one that is often trotted out without exception. But for a newbie, it's not terrible advice.
Don't you think there's a big difference between stock markets and sports trading. In general , market indexes ( as opposed to individual shares ) WILL go up long term if you can just hang in you will get your money back / profit in the long term. In sports , if a price starts to drift in the last few minutes it may continue to drift massively or contract massively , never giving you the chance of a turning point. What goes up doesn't necessarily come down in trading / betting. A video on exit point V entry would be interesting.
Thanks for your great videos of you trading with explanations but please do more...you motivate us all.....or.....maybe you could do a live stream content event for a few hours of you trading a Saturday afternoon!!!..we would learn so much Peter plus we could trade at the same time and we would know which way the markets are going to head when you go in with your 10k stake. 🤣🤣🤣 Only kidding but it would be interesting to see how the market would be affected by such an event 🤔
Having taught a number of people to trade, you tend to find it's almost impossible to give a running commentary. There is so much going on you tend to focus on that and narrating it accurately is almost impossible as you end up missing an opportunity. When I trade I'm just staring at the screen, watching and listening to what Bet Angel is telling me. I can describe each component, but it needs to be broken down into its component parts to be really understood. A few years ago when I was running courses it would take all day to get across key concepts. Even then, never underestimate what your own psychology brings to the mix.
"You are making yourself lose because I am wining. I just do the opposite what you are thinking or doing". Oh wow..such a great philosophy not only for trading but for life as well. Thanks your daughter.!
Great video Peter. I was just like this when I started several years ago. And its amazing that even after all these years greed and fear can still break me. Its a constant learning curve but a fascinating career to be in. I love it every day I trade win or lose its very addictive
It was my big problem when I tried trading on financial markets. I slowly learn that it's a key part of trading any market and one that most people underestimate.
Brilliant makes so much sence who would have thought it :)
Cracking video pete as always. Keep them coming on this subject. The real trick is knowing when to carry out your daughters well put message. Following it blindly wont do but knowing when to do it will bring success.
Absolutely.
would be great to see trading videos with commentary through the psychology lens of this video.
Also would be great to see more of your daughter learning trading videos, she probably made all the same mistakes that we will make when first starting out.
Yes more videos of you trading with explanations...or.....maybe do a live stream for a whole day of you trading!!!..we would learn a lot plus we could trade at the same time and we would know which way the markets are going to head when you go in with your 10k stakes. 🤣🤣🤣
Great video, thank you! I notice if I sit and watch a few markets I'm able to go with the flow and grab a few ticks but if I jump straight in I end up jumping in when the trade turns.
That was brilliant. Yes please, more like this one would be much appreciated. Thank you.
Thanks for your feedback.
I know you said you have had the same experince in finanicals (to make other feel better) but I feel your insight comes more from the numerous novices youv'e seen and tried to help! Great video as usual! I just renewed my Bet Angel licence this moring so I can't buy the mug just now but I promise to buy it next video!
I actually edit out a whole section where I talked about my experiences with novice traders. So you are right that this was a key level of insight. I just felt it made the video a bit too long!
Great video Peter, I am slowly getting better at this and applying it appropriately to my subjective trading method. I am hopeful as my experience of applying this in the right situations gets better, so will my returns!
Thank you as always for sharing Peter. Could this be over-simplified for the greedy-novices (like me) into > it's usually best not to follow the crowd (as you've probably already missed the prime opportunity); or is it a lot more intricate than that/I've missed the point?
Yes, absolutely. Newbies tend to get in too late, just at the exact point I'm looking to go against the trend. Not always but a common theme!
But if you have 3 choices how can you do the opposite?
So what would happen once everyone cottons on to this idea and everyone is just doing the opposite to what you think will happen should we then switch it up again, and can you measure this to know if and when to go against the grain over the long period?
It never works like that, human nature is unchanging in my experience.
your videos are great but i wished you would explain that the markets need lots of money in them for these tasks to work
when you are thinking about what others are doing is this not similar to "levelling" in poker where thinking too much about what others are thinking about costs you money?
Sort of, Poker though is pretty much on an individual basis, whereas what I'm talking about here is really the madness of crowds.
@@betangeltv I get you now. different market / conditions. It's like when a grand master tells you you can get checkmate in 3 moves if you move your bishop. You can believe him since he has studied countless moves. Real life markets can be different. I liked this video
Hello peter ,
I stumbled across something similar one day when i didn’t realise my BF graphs where inverted and I was trading what I thought was the continuation of a trend.
I wondered why my struck rate was so high that day. I put it down to beginners luck, do you think this is the same as doing the opposite to what you think?
Sort of. In the US open tennis finals both eventually winners were almost certain losers at a break down in the last set and trading at tiny odds. So from a viewer perspective the final was over, but from a trading perspective, it had just started!
Thanks Peter for sharing with us this useful knowledge. I learned a lot of your TH-cam videos I guess your one of the few persons that I can trust my wallet.
Great video, I have often thought that a monk or someone spiritually enlightened would do great at trading because of the non-attachment. Do you think this could be true? I've been attempting to master the markets pre-race on and off for 5 years without success. I'm not quite sure at what point I am meant to give up 😅
Why not join a monastry ? A bit extreme perhaps but i think Peter would do it , if it gave him an edge 😁
I know that was in jest, buf if I thought there was an edge there. I'd probably give it a try!
As someone who was a Buddhist monk and lived in monastery for many years (20yrs ago) and since leaving now works in human performance/psychology I can state the mind still plays tricks with you. Attachment is the last of all faults to break. 🤫
Another great video. On an ... Parody note ... I am really happy you start to sound like sir Humphrey Appleby at about 09:30. Keep up the good work.
So when both players are adopting a psychological strategy - does this increase randomness or just further expansion of the psychological process?
The next level up from there is to understand all the cognitive biases that people exhibit. So even if you are thinking about way the other person is thinking, the outcomes may be very different.
omg....Too much thinking for a Sunday morning lol! Erm...afternoon even! I had a large lie in.
I will have a look for the rock paper scissors thing and the Prisoner's Dilema!
Wow...your daughter is so right!
Have fun!
Fascinating video, it makes me glad that I'm a "stats trader" and don't have to make my brain hurt by trying to guess what somebody else is guessing
Even with stats it's worth, excuse the pun, thinking about. I was purely a stats guy for ten years, but have incorporated some of these ideas into my trading now.
@@betangeltv Well, nothing ventured nothing gained, as they say. I'd better look into it. It's like being dragged back to school by the ear, once more, lol.
It's worth looking at. There were some things I couldn't explain by stats alone until I started exploring some of the psychology.
This is link is pretty epic if you want to explore all congnitive biases - commons.wikimedia.org/wiki/File:Cognitive_bias_codex_en.svg
@@betangeltv I like the mathematical approach used in the numberphile video, quantifying it makes it "real"
Thinking about taking the plunge, I know targets aren't reccomemend but I'm hoping to be able to consistently obtain a p+l of £2.2 - £4.4 per day with a bank of 500.
Average
Obviously went you start you will probably lose money while you get used to things. But from a trading persepctive £5 per day on a bank of £500 is quite a low number. Have a look at this video - th-cam.com/video/0ILbkdZpVps/w-d-xo.html
Thank you Peter, I've been collating advice from all of your videos including the one you have tagged, I feel like I need to develop more of an edge hense the Conservative target.. I know you offer paid tutorials, is there one in particular you would reccomend for someone who has had limited success with automation but a "high" success rate with manual trade (I say high as only a few months not long term)
Got a lot out of this one Peter, thanks for putting it together. Re other videos?.. I recently read a headline "I never lose a bet".. apparently it was to do with Football Trading on Betfair where "you win most of the time and if you don't, get your stake back"... they were quoting £3,000 to £6,000 per month... if anyone knows a strategy around this (if it were true) it you would, surely? A video about that would really help me out right now.. even a mini course which - I for one - would happily pay for .. my aim now is to create a sustainable income from trading (I've taken some of your courses already)
I've seen this and other systems and basically they effectively chase losses throughout the match or primary or secondary markets. This ultimatley ends with a massive loss at some point when circumstances conspire against the process.
Just challenge any purveyor of these types of systems to prove their long term profit. If they never lose they should have earned tens of millions.
@@betangeltv Thanks Peter, Glad I asked you. Ok will carry on with training
Hi Peter, great insights as always. I’ve been working on my trading and getting good results and slowly increasing my stakes. Ive seen you using up to $1000 stakes in some videos - in a highly liquid Saturday market would that be your realistic limit on stakes or could it potentially be higher? Would be nice to have an idea of what I could aim towards in the very distant future.
Thanks for the video.
You are welcome!
Thanks
No problem
When you say "just do the opposite" its not that simple is it?
It never is in reality, try doing it. But the that is the essense. When the stock market plummets I buy and when it's soaring I start selling. When the guy in the corner store asks me about some hot tip he has had, I'm more or less out!
'Just do the opposite to what you think' - the number of times i've thought that on a bad day's trading. But in the cold light of day that seems to be such a tilted mindset. Unless, of course, my first thought is the same as the group's first thought. Hmm
When I first started trading Tennis I was getting it all wrong. Just when I thought a play had won beyond doubt they would snatch defeat from the jaws of victory.
It was often when a player was in the last set and a break-up, so I started doing the opposite and it worked a treat.
But of course, it's quite a nuanced phrase and one that is often trotted out without exception. But for a newbie, it's not terrible advice.
please do a follow up peter
Will add it to the list.
Don't you think there's a big difference between stock markets and sports trading. In general , market indexes ( as opposed to individual shares ) WILL go up long term if you can just hang in you will get your money back / profit in the long term. In sports , if a price starts to drift in the last few minutes it may continue to drift massively or contract massively , never giving you the chance of a turning point. What goes up doesn't necessarily come down in trading / betting. A video on exit point V entry would be interesting.
Re hardwiring your brain from sports bettor to sports trading can be a struggle and possibly trying to be a hybrid is a problem
Please do a detailed video on Arbitrage betting... thanks from Australia :)
Is your daughter a lefty?
Thanks for your great videos of you trading with explanations but please do more...you motivate us all.....or.....maybe you could do a live stream content event for a few hours of you trading a Saturday afternoon!!!..we would learn so much Peter plus we could trade at the same time and we would know which way the markets are going to head when you go in with your 10k stake. 🤣🤣🤣
Only kidding but it would be interesting to see how the market would be affected by such an event 🤔
Having taught a number of people to trade, you tend to find it's almost impossible to give a running commentary. There is so much going on you tend to focus on that and narrating it accurately is almost impossible as you end up missing an opportunity. When I trade I'm just staring at the screen, watching and listening to what Bet Angel is telling me.
I can describe each component, but it needs to be broken down into its component parts to be really understood. A few years ago when I was running courses it would take all day to get across key concepts.
Even then, never underestimate what your own psychology brings to the mix.
@@betangeltv yes I understand what you mean..I attended one of your day courses at Hook