Sometimes it seems that I'm taking 2 steps forward and 3 steps back in my quest for consistent profitability. However a lesson I am currently trying to learn is to take opportunities that the market offers and not try to create them.
I would love to know from the profitable traders whether their move into profitability included one key epiphany or was it a gradual process. Either way it would great to hear them.
Cheers,
Chris
Steps taken to profitability
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TheRiddler
- Posts: 102
- Joined: Sat Apr 25, 2009 5:02 pm
Hello Chris. I cannot speak for others but personally speaking the markets I trade I know alot about. Most of my trading is concerned with the horse racing markets and I built this knowledge base before betting exchanges came into existence.
For me it was really about learning the mechanics of trading the exchanges.
I'm sure it will be different for everybody.
I think people have to ask themselves why do they trade? I trade for the following reasons:
I wish to protect the money I made in the past.
I trade in order to use generated profit to back a very good opportunity eg madison du berlais 12/1 against Denman
I trade because it is easier than what I did in the past, much less hard work and it's something different. However it is less profitable although I'm not complaining.
I still work part-time in a office most mornings in order to keep grounded which financially speaking is a ridiculous thing for me to do.
If I'm off topic slightly then sorry but knowing why you trade and I mean 'knowing' will help to keep those backward steps to a minimum. I've read comments elsewhere that a successful punter has difficulty trading which is utter nonesense. The only reason this would be true is if they were punting incorrectly in the first place. Think about it.
Good luck with your future trading and don't forget trade BETDAQ too even if for modest amounts.
For me it was really about learning the mechanics of trading the exchanges.
I'm sure it will be different for everybody.
I think people have to ask themselves why do they trade? I trade for the following reasons:
I wish to protect the money I made in the past.
I trade in order to use generated profit to back a very good opportunity eg madison du berlais 12/1 against Denman
I trade because it is easier than what I did in the past, much less hard work and it's something different. However it is less profitable although I'm not complaining.
I still work part-time in a office most mornings in order to keep grounded which financially speaking is a ridiculous thing for me to do.
If I'm off topic slightly then sorry but knowing why you trade and I mean 'knowing' will help to keep those backward steps to a minimum. I've read comments elsewhere that a successful punter has difficulty trading which is utter nonesense. The only reason this would be true is if they were punting incorrectly in the first place. Think about it.
Good luck with your future trading and don't forget trade BETDAQ too even if for modest amounts.
Hi man, I can also speak only about myself. For me it was also a gradulal move to bigger profitability but i can say that almost from start i was profitable.
In all the new things i tried to do and whenever i move forward never happens on a costant forward move you do 2 steps forward and 1 backwards.
If you ask me you cant succed if you dont do a step backward is statisticaly imposimble. If you experiment in your life some things will be succesfull some not. Only if you never experiment or try new things you wont do mistakes. Thats life as it should be i would say.
As for me i like to think that in order to run faster or jump further the athlets do a step backward to give them the stability they need think it like this.Think the positive way of life.
But never if you ask me you should raise the amount that you bet unless you are sure that your strategy is profitable and is being profitable for months.
In all the new things i tried to do and whenever i move forward never happens on a costant forward move you do 2 steps forward and 1 backwards.
If you ask me you cant succed if you dont do a step backward is statisticaly imposimble. If you experiment in your life some things will be succesfull some not. Only if you never experiment or try new things you wont do mistakes. Thats life as it should be i would say.
As for me i like to think that in order to run faster or jump further the athlets do a step backward to give them the stability they need think it like this.Think the positive way of life.
But never if you ask me you should raise the amount that you bet unless you are sure that your strategy is profitable and is being profitable for months.