Just to let you guys know that I am moving hosting sites. Had quite a lot of downtime recently so time to move on.
We are going to be down for a couple of days max.
Just to let you guys know that I am moving hosting sites. Had quite a lot of downtime recently so time to move on.
We are going to be down for a couple of days max.
I just want to add a few words about failure. Why do people fail? This can be applied to just about anything and not trading specifically.
Why do people fail?
The importance of a reason why
Does any of this ring true? just some things to look at. The list is certainly not exhaustive
If you book and want to stay at the venue hotel, I can provide you with a 20% discount code. as with all hotels, the sooner you book the cheaper it is.
Announcing something that is not only exciting but unique within our community. I have teamed up with fellow well know exchange traders, Caan Berry and Mark Iverson, to offer you the opportunity to attend this groundbreaking event. This isn’t a conference; it’s so much more. We are delighted to tell you that the event will be sponsored by Betfair.
This is what we have planned.
The venue will be the Village Hotel, Coventry. On Saturday 16th February 2019. Starting at 12:30pm and running through until the lads cannot drink anymore and are removed forcibly from the bar.
You can arrive from 12:30 pm for registration, grab a coffee and take your seat. At 1:00pm we will kick off proceedings and introduce everyone.
There will be 1-hour presentations made by Caan, Mark and Steve where we give you some real strategies and tips about how to use them to make a few quid. Let us make something clear. This isn’t an hour of waffle. It’s sound, practical advice from people who know what they are talking about. In between, there will be breaks to let you get a drink, Bacon Buttie (all included in price) or a quick cigarette/loo break.
The last part of our presentations will be a Q & A session where the guys will answer your questions. There is no real time limit on this, so make sure you have a question planned. Our answers will be straightforward and honest.
At the end of the presentations, we will break for some food. We have spared hardly any expense, and have a nice little hot/ cold buffet for you.
After all this talking, we will be thirsty. So we invite you all to join us in our private bar, where we will let you buy us as many beers as you can afford. This is a great opportunity for you to meet people just like you. Traders. We all have this shared passion, but it’s hard to find people who understand what you’re talking about. Networking with others is a great way to exchange knowledge and form new friendships. The guys will be available to chat with all evening. So if you come, there is no excuse not to be able to ask those burning questions.
Betfair representatives will also be in attendance, they love to meet their customers and get their feedback too. I’m pretty sure that Betfair will be sending you away with a gift too.
How does this sound?
Make no mistake; this will be a hot ticket. Tickets are limited and will sell faster than if Led Zeppelin announced a reunion concert.
We hope you can come, and look forward to meeting you. You will be our guests, you will be treated as such. We will look after you and ensure you have a great time. We are all friendly and approachable guys and look forward to meeting and chatting with all who can come.
How to get a ticket
There are a limited amount of tickets we can provide. We wanted to make this event as affordable as possible. So we can offer tickets at £150.
This is going to be awesome, can’t wait.
To Book use link below
A while ago Betfair kindly invited me to speak at their VIP Social event at the Emirates Stadium. So last Friday I ventured down to sunny London to take part.
There were a few other well-known traders taking part so I was in good company. I already had met Mark Iverson, who is a genius Cricket trader, and great fun to be with. But had not met the other guys. Chris Duncan, who was a founder of another exchange called Betsson. His trading is automated and he turns over £ million’s a week. Seriously impressive and thoroughly nice fellow too. The other member of the panel was someone who needs no introduction, Caan Berry. Although I have had several chats with Caan over the years, we have never actually met. I found him to be a very genuine guy who shared so much commonality with me. I immediately liked him and we spent much of the evening laughing. The other member of our group cannot be named for legal purposes or photographed. He is a bit like ‘The Stig” in trading circles. His identity a closely guarded secret. His is a software developer who’s product sounds a bit like “The Boy”. Anyway, he is a top bloke and the World’s biggest wind-up merchant.
We did a Q& A session with the guys who had attended, sharing some of our experiences and trying hard to answer the questions as honestly as possible. after the Q&A we were able to mingle with the VIP clients and get to know a bit about them. Very enjoyable.
They soon kicked us out, so we hopped back on the Tube and made our way back to the hotel. Found a pub opposite, stayed in there until they kicked us out and the retired to the hotel bar for a while longer. Was great to get to know Mark, Caan and he who cannot be named better.
Some of you may be wondering why I would be bothered to work with Betfair to put something on like this. I am very happy to share exactly why I got involved.
We all moan about things like lack of liquidity and crap markets. To trade effectively you need a product where you can put your money in and get it matched quickly. Whether that’s entering or more importantly exiting a trade. There are several exchanges operating now. But the amount traded every day is not increasing. What is happening is that money is diluted. It would be easy to argue that Betfair has bought it on themselves with their Premium Charge. I would agree with this to some degree. But to be honest, Betfair was such a great product when it started, there were always going to be other competitors who wanted to get their snout in that trough. They would find ways to entice you in. So any chance I get to help bring FRESH money into the exchange, I feel duty-bound to help if asked.
I learned a lot from this evening. I meet a lot of traders and I enjoy that part very much. Would being involved in a social evening like this be something you would enjoy? A chance to grill several Pro Traders and meet other like-minded folks where you can network and exchange ideas? Maybe something regional?
Please let me know your thoughts.
Just to say I have limited places left for the last Workshop I am doing possibly until at least February. LINK
Read what Caan said about this in his latest blog post : https://caanberry.com/betfair-social-evening/
5 Things To Avoid When Trading
You will have read similar words from me before on this subject. If you are some sort of Zen warrior, you may be able to build some mental barriers to block out outside distractions. However, for us mere mortals we need to put extra steps in place. Just having a quiet area to work in, without the influence of any outside interference is something I consider very important. Imagine taking the family to work with you and then try to do your job!
Having No Exit Plan
Or even no plan at all! I am often staggered by traders’ lack of planning. A bad plan is better than no plan. One of the very first things I do when formulating my trading plan for a market is to identify a potential exit route. I have different routes for back and lay trades. But before I commit my money into a trade I want to know I can exit that trade with a minimal loss if I have got it wrong.
FOMO (Fear Of Missing out)
My pet hate, but a powerful emotion. Jumping on that bandwagon because you are scared to miss out is always punished harshly as I am sure many of you know. These band wagons or glory trains never last forever, and the later you get involved the more likely you will lose money. Spotting the beginning of a move and having that exit plan in place is so important. It does not matter what the twitter heroes are doing. Or any other traders you have access too. It’s important to realise that there are few that want to share their shite trades with you but are very happy to wave their cocks about when things are going well for them. It sucks you in, is destructive and I strongly advise you to do your own thing without any regard for what others say they are doing.
Get involved With Markets That Have Not Matured
What do I mean by this? A great indicator of a volatile market is to watch the candlesticks, what we are looking for is a smooth progression, and a build-up of money traded at each odds point. If the market is jumping up4 ticks and then down 3, then I do not consider the market safe enough to enter. If you watch the video below I hope this will make sense.
Be Affected By Previous trades
The impact of a previous trade is something we all feel. That includes a winning trade or a run of winning trades as well as losing ones. Trading can be severely affected by confidence. So when you are flying you can feel almost invincible, and when you are losing it can drag you into a dark place. This opens up a huge can of worms such as over trading, chasing losses, increasing you stakes unrealistically when you are doing well. All are destructive. Keep a calm, level head and don’t let your emotions carry you away in either direction.
Successful Trading: Five things you need:
This list is by no means exhaustive, but it’s a good start. I could spend ages talking about each subject here. If I get asked enough then I probably will!
Let me be blunt. Trading is a real mind melter. It really gets inside your head and messes with it. Making what are normally rational decisions become very difficult in the heat of the battle. When you have your hard earned money involved it changes everything. Some people are over cautious. Others think they are invincible. It’s not until after the event and they see the result of their actions that reality kicks in. The key skill is to be able to manage your emotions, keep them in some sort of control. This enables you to apply the focus and processes you need to make a successful trade. Learning to trade is a long and arduous road. Even with a high level of training, it will take lots of practice and screen time. Lots of knock backs, false starts and disappointments. It is no coincidence that the guys I have been involved with long-term are mostly successful. The ones that lack the mental toughness to “dig in” are the ones who don’t quite get there.ind melter
Focus is something I think many of us overlook when it comes to planning a trading session. A lap top in the front room while eating your tea, listening to the days news from your partner and having a couple of excitable kids jumping all over you is not ideal conditions for a successful trading session.
Make sure you have a quiet place to trade with no interruptions. Imagine being Neo when he plugs into the Matrix – You won’t go far wrong.
BUT, do not exchange trading for spending a little time with your family.
What do I mean by a toolkit? The tools of the trade. Starting with a bank. This should be money put aside specifically to trade with. Money that you can afford to lose, (who can afford to lose money????) i.e You won’t need it back to pay your rent or mortgage at the end of the month. It doesn’t have to be a huge amount. Even £50 can get you started.
Second on the list is hardware/internet. A mid-spec PC will be fine to trade with, as long as you have 10MB internet speed you will be fine. The most important part of a hardware set up is a decent sized screen. The bigger the better. (I use a 27”).
Third on the toolkit list is a third party App. This is essential. It enables you to see the signals that the market provides and find your trades. You can execute them quickly with one click mostly and enable protection systems like “Take SP”. I am not going to recommend an App, but the most popular ones are Bet Angel, Gruss Betting Assistant and The Geeks Toy. All slightly different and all top class products.
Sitting there blindly clicking away may well make you a few quid. But in general, knowing what you are doing is a good idea! The markets throw up signals that help you to work out what may happen next. Your mission is to find these signals and interpret them.
What is vital is to concentrate on the process and execution, NOT how much profit you are making. That will come with time once you have mastered the PROCESS.
Training is an excellent idea. Whether that is with me or with someone else. Going alone isn’t always the best investment in your time or bank balance. Invest in yourself!
This comes into two parts really.
Part 1 – Partner and family
You must have the support of your partner when starting this journey. They will soon get fed up with you being away from the family unit every spare hour you have, possibly losing money too. Partners expect instant results!!!! This is very unlikely. However much you make, it isn’t worth losing your partner for.
Part 2 – Other Traders/Mentors
From my experience running MGW, our Mastermind Program is a great success. It brings like-minded folk together, lets them learn from each other in a friendly and creative environment. Having a shoulder to cry on. Someone who understands what you are actually talking about means a lot. It’s hugely beneficial both in terms of learning and your mental health too.
My next Workshop runs on 24thSeptember in Coventry.
There are still a few places left.
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
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.
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.
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/
© 2013-2019 ItsAMugsBlog All Rights Reserved -- Copyright notice by Blog Copyright