Something is missing

Don't know what it is at the moment and I can't put my finger on it, I seem to have lost my discipline, my drive, determination patience where trading is concerned, I feel like I am always rushing my trading bank to get it to some elusive figure that will bring a good return on my bank, I also believe I focus to much on targets, I feel like I am going through a re-learning curve because what I think or want to do before I sit down at the pc it all goes out of the window and this is the reason, why I have been yoyoing up and down around my current bank levels, story behind that is I will go several days/weeks making consistent moderate profits and then for some reason be prepared to through it all away to make an extra £1 or so. Seems strange like my bank has to end a day on a round number or if it's the last race of the day and I won't get another opportunity until the next day( sounds like a gamblers mindset).

I wont say that I have failed at sports trading but just re-evaluating the plan to one that does work for me, I have many that don't but perserverence will win in the end.

A radical change in my expectations is going to occur, a change in my focus by not looking to the next day or week.

This time next year rodders.......

First steps

I have just been reading some good guidance notes from the OU website, first steps when starting to study, but I felt that it was worth sharing as the end answer is a very similar one to trading/ well anything in life really-

Why should the first step be any harder than the other steps? Get a piece of paper and write down a few thoughts before reading any further.
Here are some answers to compare with yours.
X Before you can start you have to plan your journey, making difficult strategic decisions about how to travel and what route to take.
X You also have to make lots of routine preparations: looking up train times, making bookings, working out money arrangements, stopping the papers, packing, switching everything off and locking up the house.
X But perhaps the greatest difficulties are mental. You have to commit yourself. This is the day – there will be no more putting it off. And this is the journey, as opposed to other journeys you might have made instead. You have to let go of all other plans – of all those other things for which you could have used the time.
Even then you may take the first step with an uneasy feeling that you have forgotten something. Later, as you settle into a travel routine, you may come to see that many of your worries were unnecessary, but at that first moment you feel raw and vulnerable.




Seems that the key to all of our issues in trading and life in general is how we address them MENTALLY.

LAZY TRADER

Lazy trader here, I haven't really push the boat out in terms of trying to make my bank any bigger, I reckon if I carried on at this rate I would probably hit the betfair upper premium charge ceiling of £250,000 in about five years worth of compounding, so it would be worth it in the end, but apart from that I'm doing OK and it allows me more time to get my college work done in the evening.

Pot of gold

We all deserve a pot of gold, it's up to us to decide how big the pot is going to be, how quick are you going to fill and how are you going to full it?
Answer- by having a plan, following it through and sticking to it.

Staying lighter later

Getting home from work and finding that there is five races left to trade, well that's a bonus you could say, only downside was that they were 15 minutes apart but the markets weren't really that stagnant in the preceding 5 minutes before the action starts at 10 for most people, although I do find that when using such stakes as mine the don't upset the market and if you can see the market trend you can just join the ride for quite a few ticks of profit then just hedge it and your effectively up before you start that race. My bank of trading money is still leaving a bit to be desired but it is over £55 now, unlike the two times I have been trying to grow my trading bank this time I am not doing it in a hurry and I'm quiet committed to long term aspect, as in a little a time and it will get there in then, but when I get to be able to earn 1% of £10000 per day as in Pete Norsteds book 'mastering betfair' is sometime off yet.

Until next time, keep it green.

Be Very Aware

I received a spam comment today as follows-

hello, i am betfair full-time trader since 4 years and since short time i started to trade for customers with a ROI of 35% per month on average. If you are interested to join me or share trading views dont hesitate add me in msn ******************** or mail me in that adress. good luck


Came from a hotmail email address and I suggest if you a message similar you give it a good deleteing

Great expectations

Today has been GREAT for my trading by far I have lot less than most, but the is that yet again I was able to turn off the PC and not feel the need that I HAD to try and trade every single. I managed my mind well today too, taking moderate profits that are consistent with my trading bankroll. Not putting myself under pressure and not trying to compare myself to anybody either, I WILL make this work and I know it.

Hands up if you've heard of Darren

Seriously though I am talking of Darren Hall and his site Betting system notes, he has added some new strategies to his highly successful market matcher software that will show you exactly which strategy to apply to almost any football, for minimum risk and maximum return, Darren is always showing his profits of green screens on facebook and twitter, so I would suggest that you do the same and find out how he does it here.

On a run.....

Good run today only traded a handful of races made an OK profit, still going forward and staying positive, both in bank growth and also in mindset. Sticking to my plan of only trading for a maximum of one hour, the geeks toy isn't even loaded at the moment and in a minute the PC is going off so I can concentrate on some college work and focussing on other things away from trading.

Until next time, keep it green.

Best month of the year

Early days I know but it turns out that March has been my best month of this year to date. OK maybe a bit tongue in cheek but it looks good on the record but it looks good on the record books, lets hope the good run continues.