My Best And Worst Trading Moment
While sorting out some annual paperwork, I’m always reminded how father died from a slowly progressive illness at this time of year.
It was a very difficult moment for our family, especially as my mother had died when I was young. Suddenly you have no parents, who won’t see your children grow up. Life can seem really unfair at times.
But as I have learnt over many years, it’s not that life is unfair, its how you deal with it.
A Second Chance
When you hear that an illness is terminal, your immediate thoughts is of sadness. But actually, it can be quite cathartic.
As the disease progresses those affected become utterly reliant on you. But you realise that also you have a second chance to reform a relationship with them. Suddenly, nothing is off the table and you can really open up.
While it was difficult to watch somebody slowly slip away, talking about everything that had happened in both your lives on an unconditional basis, was an amazing moment. So if you are in the same situation, take solace from the fact that even the most difficult moments can generate some amazing positives.
Life choices
In 2009, as an established Betfair trader, my involvement in the markets didn’t hinder my father’s end-of-life care; it actually helped.
My Betfair journey began with a gradual climb in my career, leading to a high-paying but exhausting job, marked by constant travel and declining health. Balancing this with raising three children, including twins, was challenging.
Seeking a change from this unfulfilling cycle, I chose Betfair trading, not out of desperation but as a genuine opportunity. This decision proved to be transformative, changing my life’s direction.
Why trading worked for me
Trading not only brought financial gains but also an unexpected boon in managing my time more effectively. My previous roles, in a normal career, left little room for personal life. Growing up in a modest family, I was ingrained with a strong work ethic, which I carried into these demanding jobs.
However, the transition to sports trading opened up a new realm of flexibility. Initially, I was apprehensive about the impact of this career shift on my family. To my surprise, it had a positive effect, allowing me to blend work with personal life seamlessly.
This newfound flexibility meant mornings spent at my leisure, often enjoying precious moments with my children. The routine of taking them to school became a cherished part of my day, witnessing their growth from toddlers to mature individuals. My trading career coincidentally aligned with this critical phase of their lives, enabling me to be more present.
Moreover, this career provided a unique opportunity during my father’s last year. In contrast to my previous jobs, where my presence would have been limited, trading allowed me to visit him frequently. I set up office at his house, and sometimes at the Hospital. But I also set up an account in his name, and I shared my world with him, alleviating his financial worries. This not only brought us closer but also gave him a fascinating insight into my work.
So this was my best and worst trading moment. I got to show Dad what I actually did for a living and he was fastinated, but also we shared all that time together and built a bond like never before. It was my best moment as I could use my skills to good use, but my worst as was for all the wrong reasons!
In a bizarre twist, when my Dad passed away a bit sooner than expected, my sister inherited half the balance on my Dad’s account. This was despite desperately trying to stop me ‘gambling’ with my Dad’s money.
Life’s funny that like isn’t it?
It's not for everybody
Before I make it sound like you should all quit your job and enjoy the trading lifestyle a note of caution. During my time in the markets, I’ve been cautious not to oversell trading as a straightforward business or lifestyle choice.
Drawing from early experiences, I realised that success requires hard work without shortcuts. While I and others have prospered, trading remains a highly competitive field. It differs from a typical business in its unpredictability; changes in market conditions or terms can have immediate impacts. In this ever-evolving environment, only those who constantly adapt and maintain focus thrive.
Over the years, many traders have disappeared, unable to keep up with these changes and losing their competitive edge.
My big leap
One key thing to point out is that I made a significant breakthrough when I grasped the psychology of the market, sports, and people. Initially, I thought sharing some of my trading ‘secrets’ to promote the industry might undermine my success. However, I realised the real key lies in the psychological aspect of trading.
It was astonishing to find that even with confidence and correct answers, people often resist advice, akin to someone jumping off a cliff to prove they can fly when you just told them they can’t. This insight led me to focus on anticipating such behaviors, a skill I now see as universal.
Discipline is crucial too. Many traders irrationally try to avoid losses, often exacerbating their situation. While disciplined trading may seem mundane, it’s vital in balancing profits and losses.
This discipline must extend beyond trading; maintaining physical health through regular exercise not only boosts discipline but also enhances overall trading performance. This was a lesson I learned through personal experience.
Key lessons learnt
Ultimately life is what you make it. For every positive, there is a negative and for every negative a positive, just like in trading.
Some of that can depend on your perspective or how you view it relatively. I’ve learnt that in everything there is a positive if you look deep enough. My personality has changed for the better in this period of my career and I enjoy life more than at any point in the past.
I love sports, trading and statistics and being able to combine them into a job, a job that I really love, is a dream come true! Doing that while watching my children grow into adults in a stable family environment where Dad is only a few minutes away, has been an absolute privilege.
It’s a shame my Dad wasn’t there to see them beyond their earlier years. I’m sure he would have enjoyed it. He would have also enjoyed watching the further adventures I went on.
He only had a glimpse of them before he passed away. But at least we had that time together, especially during that last year, which I will always cherish.