Review of my Workshop

I was both delighted and humbled by this review from someone who I greatly admire. A young lady who had a sparkling career in professional racing. She knows her stuff and is a tremendous asset to our community.

You can read the review here https://www.greenfilly.com/steve-howe-its-a-mugs-game-workshop-review/

I just want to say that I never ask people to write reviews to say positive things about me. That’s not to say I am grateful and humbled when they do!
The reason I have linked this is to give you an impartial view from “the other side of the fence”.

I strongly advise you to follow her and read her blog regularly. She writes beautifully and talks with authority and humour about something she is very passionate about. This Lady is a rising star within our trading community. You read it here first!

You can follow Green Filly on Twitter @filly_green

The blog is https://www.greenfilly.com/blog/

Cheers
Steve

Scheduling Time

Something I have always (until recently) been crap at doing is managing my time. I always used to rock up and get on with it. This worked fine as I had nothing to do all day but trade. As I have spoken about a lot recently. This has now changed. I have a life to live and other things to do. So my time is always under pressure. I needed a way to deal with this.

I now have a diary, well 2 diaries really. One is electronic called Schedule Once other is a hardbound one from Collins in A4 size. What I do now is allocated blocks of my time. I ONLY engage in the task in my time slot. I turn off everything else. Phone, Social Media, TV etc.

So if on a given day I may have allocated 2 hours to trade between 2:00pm and 4:00pm and maybe a further hour between 7:00 and 8:00pm. So that is when I trade. I focus 100% on this task and blank out everything else. I wish I had done this years ago. I am trading less, but the quality is way higher.

Here is a great example: I love Cheltenham. It is a special week of my year. Even going back to the early 1990’s I would take a week sick from work, Once my gaffer spotted the pattern I had to take 4 days flexible holiday I had every year to cover it. I haven’t missed a Cheltenham race since then. But this year that all changes. On Tuesday I have to be somewhere else. My Mum has a hospital appointment, it’s my responsibility to take her. Now usually I would shirk this and insist that my Brother or Sister had a day off work and I would cover their loss of wages. But that is a shit way of living I am sure you would agree. I want to sit and listen to what the consultant has to say. for myself, trying to get my Mother to explain is always a challenge!

This feels almost liberating. I am free! Now we all know that “real Pro’s” would NEVER miss a Saturday, let alone a day from the festival. Probably means I am a fake eh?

I can pack more into these shorter sessions than I used to. It also means I do not feel guilty about doing other activities. This would work really well for you guys with full-time jobs AND family life to fit in. Don’t flit from one thing to another. If you only have 1 hour to trade. That’s fine. But do ONLY that. The quality of your sessions will show improvement week on week.

Give it a go. You have nothing to lose.

On a side note. I have just 4 places left for my Workshop on 8th April. Please get in touch if you wish to come along. Or just the booking info on this page.https://www.itsamugsblog.co.uk/2016-racing-workshops/

5 Things you need to be a successful trader

Successful Trading: Five things you need:

 

  • Mental toughness
  • Focus
  • Toolkit
  • Process
  • Support

 

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!

 

 

  • Mental Toughness

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

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.

 

  • Toolkit

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.

 

  • Process

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!

 

  • Support

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.

Workshop Link

 

F.O.M.O

F.O.M.O

Fear Of Missing Out

 

The fear of missing out is one of the biggest hurdles we face as traders. We see it on a daily basis with our Mastermind Group and on all the social media platforms too. It’s a monster alright.

 

So what is FOMO? How many times have you seen the old bandwagon leaving town? The urge to jump on is sometimes just too great to overcome. So you just manage to get on as it sails on by. Just as it slams into reverse gear and makes you giddy with the pace it reverses at!

 

During the Workshops we do, the very first thing that is said is to do with finding a SAFE place to put your money. It’s almost “exit first” then see if you have an entry point. Many times FOMO takes over, and all common sense and safe entries are forgotten.

 

The secret is to learn how to get on that Band Wagon before it leaves town. In fact even better if you can drive that bastard! Then when you have got as many as possible along with you for the ride. You jump off and leave it to find its own way.

 

The alternative is when you miss the initial move, find the driver. Who is driving this Band Wagon? When I say that I mean which other runner (s) are moving in the opposite direction due to the BW move? Watch them very closely. The candlestick graphs may be a mirror as in the diagram below.

See the collation of the candlesticks?

FOMO pic

 

 

 

 

 

 

This may suggest that the drift on the fav is being primarily caused by the steam on the 2nd favourite. So who is the driver? Which is driving which?

The way we look at it is the Favourite always wants to be backed. Everyone wants a winner, don’t they? So where better to start than with the fav?

So if it’s drifting, this must be caused by another runner(s) – Usually more than 1. In this case, I take it that the “driver” is Ladder 2. I have layed the favourite. So when is the exit point? That’s either to exit the lay trade or even an opportunity to grab that reverse gear I spoke about if you missed getting on the Band Wagon.

Wait until the driver stops, there will be signs it’s slowing down. There is almost always a delay before the odds start to react on the connected runner. In this case the fav. That’s the signal we are looking for.

 

Just remember next time you jump on that Band Wagon. Here in MGW, we are waiting to get off at just about that time.

 

If you are serious about Trading and would like to learn. Please take a look at our Workshops (LINK) and Mastermind Program (LINK)

 

Add us on Twitter at @itsamugsgame and @Headgamestrader or perhaps visit the Facebook page at https://www.facebook.com/ItsAMugsGame/

Some help to deal with an outage

When this happens It’s a fact of life when trading on the Betting exchanges that sometimes things go badly wrong.

One such instance is when you have a trade in market and your screen freezes. There are a few things you can do to help yourself here.

Internet Issues:

Most people now have smart phones / tablets – Log into Betfair with 4g – If your internet goes you have a backup.

You can close a trade by phone if you are quick.

You can offset the bet on another exchange, such asBetdaq / S Markets or matchbook if you have a funded account. This isn’t as easy as it sounds.

Get friendly with your neighbour, see if you can blag their wifi password 🙂

Exchange Outage:

This happened on Saturday afternoon last on Betfair. When this happens your options are somewhat limited. There is one particular safeguard I regularly use; Take SP.

Take SP is a feature built into the major 3rd party vendor apps such as Gruss, Bet Angel and Geek Toy. If you enable this (I have a video, showing how to do this) it gives you some protection. It’s not perfect, but it can help save you from a huge loss.

In this video, it shows how to use guardian within Bet Angel to “Take SP”. What I would suggest is that you change the time of enabling Take SP to fit in the timeframe you are trading in. It’s no good taking SP 5 seconds from the scheduled start of the race is you have a trade in 3 minutes out and Betfair goes down. Peter makes a better fist of showing you this in his training videos.

If you Google “Using SP automation as a safety feature – YouTube” it will come up as the top answer.

My video is at the end of the post.

You may notice I have had a revamp of my Workshops for the rest of 2017. If you are interested in learning how to trade take a look HERE

Cheers Steve

 

York, The Dante and Betdaq SP

Well it’s mid May already and we are starting to get a bit of heat in the sun. The big meeting in May (apart from the Guineas meeting) is at York and includes the Dante. The Dante is usually considered the most important of all the Derby trials. In recent times the stats are impressive.Winners of the Dante have won the derby in ’94 – Erhaab, 97 – Benny The Dip, ’04 North Light, ’05 Motivator, ’07 Authorized, ’15 Golden Horn (also won the Arc).

In 2014 The Grey Gadsby won the St James Palace at Royal Ascot and back in ’95 Classic Cliche won the St Ledger, So this race has a rich history. I expect the winner to shorten significantly in the Derby Ante post betting.

Something else of note today is Betdaq announcing a new product . They are calling it XSP. I expect it to be the same as BFSP. Although I haven’t seen the way they are going to calculate it as yet.

I am a big fan of Betfair’s SP. What is important to note about these type of SP products though is they are a SAFETY NET and NOT an exit strategy. They are often inefficient and you do better by taking the price on offer to close. However, if you lost your connection, or the site goes down. They can be a godsend and adds an extra level of security.

Another workshop for me this weekend. They are something I look forward to immensely. Always fun and it’s great to set traders on the right path. Taking bookings for July and September now if interested. You can get the details HERE

Update:

The Dante: Wings of desire was 17 seconds before he won the race – as I speak it’s 6 to Lay 5.2 to back. The Dante Fav Midterm was 4.2 during most of the race 6.6 at the furlong pole and now 17.5 to back

Chester May Meeting

One of my favourite meetings of the year is held in the first week of May at Chester. With the first two Classics out of the way, and the end of the jumps season last weekend, the Flat season proper is now underway.

Chester has some incredible history, which I am going to bore you with now. It’s an incredibly picturesque course and you can see the old City Walls surrounding part of the track.

The racecourse lies on the banks of the Dee. It was a harbour during Roman times but was closed as the river silted up thus making navigation impossible. Towards the centre of the in field is a raised mound which is decorated by a small cross known as a “rood”. It is from this that the race course derives the name “Roodee”; Roodee is a corruption of “Rood Eye”, meaning “The Island of the Cross”.

Racing began on the site in 1539 and was allowed by the then Mayor Henry Gee. This is where the term “Gee-Gee” comes from. The course is an oval, akin to a Greyhound track. It is 1m and 1furlong around and runs anti clockwise. It’s tight turns and very short straight of 239 yards make it very challenging.

So enough of the history lesson. What about Trading?

What you will see from the next 3 days is well catalogued. Races over 5 and 6 furlongs favour heavily runners drawn low. They have a huge advantage. Hold up horses always struggle here. that’s not to say it’s not impossible to be held up and win. But track position; even in longer races is very important. I think having a well balanced horse is important too. They are always turning. Pretty sure the back 2 lay boys will be out in force today. It could be a way in to piggy back some of the late money as the low runners are backed. But it’s by no means a given it will happen. Be aware of being on a low drawn drifter. It could turn quickly against you close to the off.

Look for Tom Dascombe runners too. Dascombe trains for the Ex Football Legend and Pundit Michael Owen at Manor House Stables. This huge , well financed operation is local to Chester and Owen’s favourite place being a Chester boy. I always look for his runners here, if there is money down they usual keep steaming in. As with any trade I get involved in. The most important thing I am looking for is my signals that I use to identify a trade. But if you are armed with the knowledge of perhaps why a runner is moving in a certain direction, then it gives added confidence and I can stake accordingly. Just a quick scan through sees Dascombe as the Fav in the 1st Race. The 2:10 Lily Agnes Stakes – Fiery Character. In the 3:45 he also has the favourite. It’s called Roudee (hmmmm). He also has the big 40/1 outsider in the 4:20.

The other trainer to look out for is Adien O’Brein. He likes to run some of his nicer young horses here.

There are some good races today. The highlight being the Chester Cup. Run over 2m 2f (2 complete circuits) and with 19 runners it is very competitive. Not sure of a way in yet as a trading angle.

Have a good un  – Steve

Favourite Week of the Year?

Cheltenham – A Unique and Glorious Week

 

Tried hard not to jump on the Cheltenham bandwagon. Every single person with a vested interest in making money from traders have their snouts in the trough. I don’t want to big it up at all, in fact I have a slightly different perspective,

 

Firstly, let me say that as a person who makes his living from Racing, and first and foremost is a huge fan of the sport. I love Cheltenham week. It has always held my imagination and for any Racing fan, it is the World Cup and Olympics all in one. I love everything about it and I am very excited about the week ahead.

 

Now with my trading head on I see things a little differently. Cheltenham is a fucking pain in the arse. We have had poor Racing for over a week, trainers have the better horses put away for Cheltenham, traders are keeping things tight so they have as much of a trading bank as is possible. The week after Cheltenham is another dead week too. So for the pleasure of 1 week we lose 3. Can I make as much in that one week as to make up for the poor trading on offer in the other 3? No, it’s doubtful.

 

You will know that I am pretty much a swing trader. My aim is to get involved in trades that give me more than 1 or 2 ticks. I also like to trade at the shorter end of the market. Where most of my trades are on runners with odds under or around 4.0. These types of races are at an premium at Cheltenham.

 

That’s not to say I cannot do well. On the races where I can get involved in a swing, I can add in pretty much as much money as I like, with the knowledge of a stable exit position should things go wrong. Not something I can do on a Monday afternoon at Wolverhampton.

 

I think the hype is such that many traders, especially newer ones will be thinking that you just have turn up. The promise of extra liquidity will be a licence to print money. But when you get to trade the race that has 20K sitting in front of your £25 it’s almost overwhelming.

 

One of the scariest things is the shear volume of money in the market. You might think twice about sticking in your £25 behind that £20k as I already mentioned. But imagine it like this; You have a basket of shopping and you are in your local Tesco’s. It’s Christmas and there are 100’s of people with big trolley loads at the checkouts. If this was a Tuesday when there were 7 checkouts open it would be a massive problem. But it isn’t. There are 35 checkouts open, and there are 2 members of staff on each one, helping to pack your shopping and get you through as quick as possible. So in the big scheme of things, you only have to wait a little longer than usual. Same with the fill rates at Cheltenham, big queue, but faster fill rate = quick turnaround

 

 

So a couple of tips that may help you enjoy Cheltenham

 

  • Keep your expectations in check
  • Don’t get too overwhelmed with the amounts of money in the queue in front of you
  • Know that the more traded volume that has followed into a market the slower it will react, especially before the Live shows.
  • Expect any of the Mullins/Ruby Walsh to shorten appreciably with they have winners in previous races. These like last year are ripe for accumulators.
  • Don’t get carried away by the occasion. Normal trading rules still apply.

I am not getting to write too much at the minute. But rest assured that I am still battling away with Trading and running my community of Traders  – MG World as we call it.

In respect of the Racing Workshops, they are a great success. I have just 1 place left for March 28th and a handful for May 16th. I will be releasing some new dates in the next week or so for the rest of the year. Racing Workshops

Hope you get a nice green week,

Cheers

Steve

 

 

 

Bit of a Mess!

Hi Guys,

Thought it was time I stuck a video up. I still record lots of video, but have been going though some changes behind the scenes in MG World. My Mentorship program is full and i am working on my new Racing Workshop content. It goes without saying that these videos are at a much higher level than what I can post up on You Tube, Saying that no one can accuse me of not helping aspiring traders by giving them a nudge in the right direction.

I have changed my trading set up too and now am back to using a Windows PC, my recording software has also changed and I have been trying to find ways of getting my video and screen to the highest quality I can. Not quite there yet, but hope it’s ok. I hope to be able to throw out a few more videos again now.

If you fancy attending one of my Racing Workshops, they are fantastic value and of the highest quality. I’ll show you exactly what I do and why I do it. LINK to Racing Workshop

Hope you enjoy – I made a real hash of this!

Racing Workshops – Booking Now

If there is one sport that the majority of traders want to master it’s Horse Racing. Specifically UK Pre Race. Those last few frantic and seeming impossible minutes where the market is at it’s peak. There are usually at least 30+ races per day, so lots of opportunities to profit from moves in the market.

For 2016 I can offer you the opportunity to join me for a day long Racing Workshop.

I will show you how to…..

  • Assess the Market
  • Find an Entry Point
  • Find an Exit Point
  • Understand why the prices are moving
  • Gain confidence
  • Understand how a book works and it’s significance.
  • Stop guessing which way the odds will move.

This type of trading is notoriously difficult to master. I believe this will give you the tools you need to take your trading to another level.

To compliment the Workshop you will be supplied with not only the material we reviewed during the Workshop, but many more examples of my pre race trades, all with my “unique” style of commentary.

The Workshop will be intense and FUN. It will be interactive and you will be involved throughout. My teaching style is informal and unique. While you are with me at the venue you will be very well looked after. All beverages and snacks (Muffins and biscuits) are provided Free of charge. Along with a very nice hot/cold buffet lunch. The facilities are top class.

Pricing – Booking – Availability – Venue

Price is an incredible £225. 

Booking via email mugsgame@hotmail.co.uk

Presently there are 3 dates

January 25th 2016

March 28th 2016

May 16th 2016

The Workshops will be held at The Village Hotel – Coventry

I have a specific page about the Workshops WORKSHOP It will give you all the information  If there is anything specify you wish to know please get in touch.