There is only winning and learning…

Never really been a fan of positive thinking euphemisms but few are more applicable to trading than this one. After all, how much can you learn from a winning trade? You may have made a profit but that might simply have been fluke. A losing trade can hold a wealth of information from which you can understand how the next trade might be improved.

Recently someone asked which style of trading might be easier; swing trading or scalping. The concept of both is simple, the profitable application of either is far from easy. However, losing trades from either trading style will offer great insight. If you know your edge/method/strategy is correct but your results conflict, you know to direct your focus towards market assessment and your entries.

In this tech driven world, data is king. Collecting, correlating and dissecting your own data is crucial to success. Never let a loser pass you by without knowing the error behind it. Usually, the smallest tweaks make the greatest difference.

Be Careful What You Wish For

Be Careful What You Wish For

 

This post is a huge departure from what you will usually read. Especially coming from someone like me.

 

We get lots of emails from people of all works of life. Some very successful in what they do, others at the other end of the spectrum. The question everyone wants an answer to, that I always try to sidestep is “How much can I make a day”. It’s a question I dislike intently and I am usually intentionally vague.

 

For us, learning to trade is about execution. Learning the basics, the building blocks that will enable you to scale up your stakes to a point where you are comfortable. This is a long and arduous journey. It doesn’t happen overnight. It’s down to knowing the signals, then applying them over and over and over. Until it becomes natural.

 

Knowing the signals though just isn’t enough. You need mental toughness, resilience and discipline. In my experience, the traders who “make it” are the ones that want it the most. They are determined and never give up.

 

But once you reach that Nirvana and are on that glorious path to untold riches, that’s not the be all and end all. We are told constantly by the betting industry, “When the fun stops, stop”. It’s the strapline at the end of every advert involving any bookie. You see the gambleaware logo everywhere too.

 

To be honest with you. I don’t think many bookies give a flying fuck if you “put gambling before your mates.”

 

Gambling or trading (same thing) is destructive, make no mistake. That applies to when you are winning or losing. Ok, it’s better when you are winning, at least you can pay your bills. But winning brings its own issues.

 

If you are making £1k a day, after a lifetime of struggling to make ends meet. Would you readily give that up to get dragged around B&Q on a Saturday afternoon? Or to have a day out with your mates on your Motorcycle or go to a match?

 

There are massive choices to be made when you embark on this journey. Have I got the mental toughness to endure the hard times? Have I got the strength to resist temptation when the good times arrive?

 

If you can identify yourself with something I have described here and feel alone or don’t know what to do. Get help! Whether that is through the gambleaware.org website or give us a shout (in complete confidence) it’s good to have a friend who can identify with your problem.

Stay Safe and Green – Steve

 

https://www.begambleaware.org/

Happy Anniversary To MGW

It’s an emotional day for me today. 4 years today since I ran my very first Workshop.

Since then I have had the pleasure to have met over 500 aspiring traders and hopefully helped them on their journey to improve their trading. I guess it’s a testament to the community that exists that I still have 3/4 of that original group with me now. I call them “Originals” . That’s not very original, is it? :)

The friendships I have made have enriched my life in many ways and the “business” side forgotten.

This post isn’t about me, it’s about all the Ladies and Gentlemen who I have had the pleasure of meeting, sharing a drink with and often part of their lives. If you share your life with others on a daily basis the connection can be profound. We experience every emotion, from the joy of a new arrival in the family to the grief of losing a loved one. Illness, divorce and even death.

It puts what we do on a daily basis into some sort of perspective. It’s not all about Betfair or money. Not for me, it isn’t anyway.

I am an emotional guy. I am a straight shooter. I say what I think and wear my heart on my sleeve. One of my not so good traits I’m sure.

I want to take this opportunity to thank every single person who I have met on this journey. It’s you guys that keep me awake at night, it’s you guys that keep me going.

Who knows what the next year will bring. I wish you all the very best of times and good health.

Cheers

Steve

What will make the difference?

For a number of years I used to write a blog, from my football trading endeavours right through, albeit infrequently, until late last year. In a moment of wistful reminiscing, a particular post came back to me. There’s a link to it below.

For so long genuine pre race trading success had eluded me. Some big leaps forward had been made but I hadn’t found that true style, that sense of knowing that you get putting on comfortable shoes – a genuine fit. That was until October 27th, 2014. On this day Steve Howe delivered his fourth ever pre-race trading workshop. Immediately, it was clear this was it. This was the fit I needed – a simple, solid method. A truly structured approach, with continuous learning and support.

So tailor made was that fit, three and a half years later, it’s my privilege to work alongside Steve. Delivering the workshop, building the structure for others, offering extra learning and support and helping our members overcome trading’s almost endless hurdles.

Maybe the MGWorld Pre Race Workshop will make the difference for you.

@MGWorldtweets@Headgamestrader – @Itsamugsgame

Blog link

 

 

New YouTube Channel

Just wanted to let everyone know that we have a new YouTube channel.

The old channel will still be there and accessible, but any new material (and we are getting our arses in gear to create some new content)

We are starting to see bookings come in for the Workshop on 21st May now, so if you fancy being apart of the most exciting trading project out there, please have a look at our bookings page.

You can find our new You Tube channel here

This is the latest video we have. we always appreciate Likes and Subscribes

Cheers

Steve & Jon

 

 

Make hay while the sun shines

The summer is soon upon us, bringing with it the perfect platform for the aspiring trader. With racing taking place long into the evening, those missing out on meetings because of a 9-5 now have a great opportunity for much needed and wished for screen time. No longer tied to a few markets at the weekend, it’s now possible to get in from work, have a cuppa/dinner, a worthwhile conversation with a significant other, before switching on the PC and opening the next market.
Forcing a trade, the folly of many a novice trader, because there are so few markets available, is no longer an issue. Letting markets pass no longer matters because another will be along soon enough.
So much can be achieved between now and September; honing skills, qualifying and quantifying edges and strategies, collecting vital data to help understand strengths and weaknesses.
At MGWorld we trade together throughout the year but during the summer months, because of the additional cards and their timing, our community really comes together. Trading as a large collective group gives greater and more accelerated learning, in particular for those at the beginning of their trading endeavour. As well as being enormously supportive, it’s great laugh too.
If you’re planning to learn and/or understand more about betting exchange trading, don’t let this opportunity slip by.

MGWorld Pre Race Workshops 2018 dates

@MGWorldtweets@Headgamestrader@itsamugsgame

Are you still in the game?

Cheltenham is over for another year and this Saturday we see the 169th running of The Lincoln Handicap. One signifies an end, the other, quite rightly in Spring, signals a beginning.

Historically, the time between Xmas and Cheltenham is the most testing period of the trading year. Very little happens, often nothing if the weather’s bad enough, and the whole thing becomes a real grind. This period is when many would-be traders are shaken out of the markets for the last time. Sighing at a depleted or empty account, they question if this for them, is this an alchemy they do not have the recipe for and never will. Sound familiar? Don’t be put off. There is a difference between giving up and knowing it cannot work. Ask yourself two questions and then decide if you still want to label the whole thing “Experience” and put it on the shelf.

  1. Have I exhausted every opportunity to make this work?
  2. Am I simply giving up because I can’t find the answers?

Betting exchange trading holds so many opportunities. There are so many ways to skin that proverbial cat. If you read a previous post you’ll see how often people contact us when close to throwing in the towel. Once they become part of MGWorld they understand what they may have walked away from. You can do it, you just don’t know you can.., yet.

2018 workshops

@MGWorldtweets@headgamestrader@itsamugsgame

Cheltenham 2018

If you are a regular reader of my blog, you will know that I always post something up about Cheltenham. I am almost like the Anti Christ here, and really don’t want to pour cold water on what Racing fans know is the greatest racing spectacle on earth. I am coming at this from a trading angle, not a betting/gambling angle.

So what is “Cheltenham” and why do we hear so much about it?

Cheltenham is an annual event, it runs over 4 days in mid-March. It is the climax of the National Hunt season and if it was held in the USA they would call it “The World Championships”. It is a festival of racing and a massive social occasion too. There is a massive rivalry between the Irish horses and the UK runners. In recent years the Irish have certainly had the best of it.

Why are we hearing so much about Cheltenham? It seems everywhere you look there are people jumping on the “Cheltenham” bandwagon. It’s one of the few times in the racing calendar that the mainstream press mention horse racing.

Bookies have “offers”, mostly to get new customers coming at you thick and fast. A Matched Bettors heaven.  I don’t want to drone on too much, so I’ll cut to the chase.

The racing is on the face of it very competitive, big fields and often the favourite is in close to double figures. Depending on your style of trading this can be good or bad. For us swing traders, it’s mostly bad. On the upside, you can get huge amounts safely into the market. But bad, because, it possibly won’t swing 20 ticks.

You will see seeming impossible amounts of money that you are in a queue behind, but this money gets matched much quicker than in a normal race, so it sort of evens itself out.

If you like to turn over large amounts in what can be stable markets, then this is for you. If volatility is what you trade on. Then, by all means, give it a go. But you may get frustrated.

What I am attempting to do with this post is manage your expectations. I guarantee that Twatter, Facebook and every blog you read will be full of stories or daring do and huge profits. For most of you, the week will be a disappointment. That’s because the Cheltenham frenzy has raised your level of expectation so high that it will be almost impossible to reach.

Enjoy the spectacle, it’s the best week of the year, but it’s not all about money. The fear of missing out will rear its ugly head for sure over the next few days. Go in with low expectations and it will be more enjoyable.

Steve @itsamugsgame

Jon @headgamestrader

Just a quick note to say we still have a couple of places left on the next Workshop on 26th March. You can book here http://www.itsamugsblog.co.uk/2016-racing-workshops/

If we can do it, you can do it.

So often people believe there must be something very specific about traders who achieve success. Believing these people to have the “genius gene”, access to the “secret sauce” or that they are members of a covert club of betting exchange alchemists. It’s not difficult to fall into this idea, particularly if you’ve spent a great deal of time and money trying to uncover these secrets only for them to always elude you. But the reality is much, much simpler. Each and every successful trader has one thing in common; perseverance. Successful traders do not give up. However, this may be the only thing some successful traders share because traders come from all walks of life, and that’s the beauty of trading. Anyone can do it, anyone. If you have an open mind, patience and are willing to commit to constant, continuous learning, you can become a successful trader. 

Neither of us has a genius gene, we don’t have a special recipe and we certainly don’t have membership to any covert clubs. (Steve does have a thing for gimp masks, so that may not be altogether true). What we do have is a strategy, a strategy that, when employed correctly, offers you real possibility to achieve what you want from your trading. Don’t be fooled, your PC won’t instantly become a cash machine. You need to learn how to use this strategy effectively, this takes time, dedication, enormous amounts of patience, very real commitment. It’s not easy, but it is real.

If you don’t give up, if you have enough patience, open mindedness, a willingness to learn and are ready to commit, book your seat, 2018 Workshops

Steve & Jon.

@itsamugsgame@headgamestrader

Jon Murphy…In his own words

Earlier in the Month I announced my partnership with my good friend Jon Murphy.

Already the members of MGWorld are feeling the benefits of having Jon involved with the project. Having someone who has made the long and hard journey to becoming a full-time trader can only be of massive benefit to anyone wanting to make the same transition.

As I said before, Jon’s skill set really complements my own, to give you guys even more.

Jon has made a video introducing himself and the reasons why we got together.

Cheers Steve