Sunday, 17 July 2011

Why trading is like a game of Snakes and Ladders

I say snakes and ladders metaphorically, its not a new game that betfair are offering, I find that when you start out the gains and losses are really big compared to your bank size as you find yourself being ill-disciplined and going inplay making good gains related to your bank and also taking big losses that will wipe out your beginners bank. As we progress through our trading journey the ladders(wins) become more relative to our bank size and snakes(loses) become easier to absorb into our trading life, expect, except that is when we deviate from the trading plan and don't do what is says on the tin and we find ourselves going down a bigger snake than we wanted to, basically I went inplay after doing so well for so long and lost over 1/3 of my bank or £112 on a horse and being stupid, careless, call it what you will. It links in so well my previous post where I said its a fine line between being over confident and complacent, at the time I know I should be taking the loss and accepting it, but I never and I will deal with the setback and carry on going forward.

Today is the Eve of the betfair trading bank robbery(PC increase to 60%) seriously its a joke, traders making a modest amount will have the earning capped and probably feeling like they are doing this for nothing, I hope they find a way to continue trading either through better competition in the exchanges, I see a few new ones popping up and maybe they will become something of a serious competitor to betfair, I know this wont happen in a hurry and I feel that the £250k limit will come down to meet me before I get to that level, so even though I have only just started profiting from this game, long may it continue on betfair or elsewhere


  1. A very insightful article. I often feel that you manage to build things up and then ill discipline happens and things go back to square one. I guess the key thing to remember is 'always be disciplined' and 'protect and grow the profit' you have already made.

  2. Cheers ,I think its just a matter of being confident but not too much and dont over step 'that' line or you back to square one, as you say


Feel free to comment on this post, it adds to the conversation