Monday, 16 January 2012

Mental recap

Following on from yesterday's comment from Cassini and also an email I've received  I ask the readership to think about the tools and skills required to be a sports trader. 
I am not particularly talking about scalping a horse race, trading a football match or another sport as such, more about the development of the mind and where newbie lumping £50 into betfair and expecting instant rewards and comparing themselves to a top trader who makes it public about how much they earn per day/week/month. 
I would say that is a battle of the mind, your own mind, looking to the future trying where you will be in 3,6 or 12 months would be a better margin to aim for rather than trying to work out will I be able to double my bank today or over the weekend. 

Spending time learning self discipline and having self belief along with determination and not being greedy will make YOUR betfair journey run a whole lot smoother and then be able to accept the cash rewards a little easier instead trying to give the money straight back in the next market you open. 

So as much as technique, strategy and your 'edge' is important, equally is the mental side and how you approach that will have more impact on your balance than your trading skills will any day. 

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