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

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/

Dealing With Quiet Periods

With a little “down time” I thought I would share with you my thoughts about how I deal with these days where Racing is badly affected by abandoned meetings.

I often hear comments like “I just want to make £5 a race” or “£100 a day”. I think this timescale is ridiculous and adds pressure to your trading. On a 30 race day, your target of £150 is under severe pressure if after 20 races you are not “on target” or even down for the day. This will affect your decision-making process for the rest of the day, make no mistake.

I always look at the “Big Picture” – This Big Picture extends beyond even Months and into Quarters. How many Companies do you see publishing their results on a weekly basis? Sure, it’s always a good idea to keep track of exactly where you are in the short term. But this is for information purposes only.

When I first started trading I diversified quickly, finding a way to make money from a market, then moving on to something else. Nowadays i trade pretty much exclusively on Pre-race markets. But having what could be called a “portfolio” of different markets to trade is smart if you are relying on your trading.

Summary

  • Always look at the bigger picture
  • Create a Portfolio of strategies on different sports
  • Accept that there are quiet periods in whatever is your main Sport you trade. – The Tennis boys have been quiet lately
  • Use the quiet periods to be productive, either finding new sports to trade or have a productive time with your loved ones. Did you know there is a baby boom within trading circles every October :)

 

A Real Tragedy

It is with great sadness that I write about a friend who passed away a couple of weeks back.

Andy Spriggs or “Super Drew” as he is well known, was a fantastic guy. A real wizard with Excel and all forms of automated trading. He was friendly and approachable. Always willing to help those without the incredible skills he possessed.

He went for a run and then went off to work where he collapsed and passed away. He leaves a young family behind.

As one of our own, we have created a fundraising page to try to offer some financial support to his family. maybe, just maybe give his boys a slightly better Christmas. We want to show Lydia that we care and in what high regard Andy was held.

If you would like to make a donation, however small, it would be very gratefully received. If you want to leave a message for Andy’s family. I know they bring great comfort to Lydia at this incredibly difficult time.

RIP Andy – You will not be forgotten.

Link to Fundraising Page

Cheers

Steve

Merry Christmas

 

No cringeworthy video, no witty little message. Just this….

A genuine “I wish you and your loved ones a very Merry Christmas and prosperous New Year”.

Peace and Love to you all

Steve

 

Christmas message

Unlike the Queen, I will not be delivering a video message. You will not want to be seeing my ugly mug that’s for sure!

I do however want to thank all of my readers for their amazing support over the past year(s). I don’t get to blog as much as I would like. But it’s great that you keep coming back.

Exciting times ahead for me and what I am trying to achieve. A couple of new adventures planned for next year, including a new delivery system for my Workshops.

I wish all of you and your families a wonderful Christmas and a very happy and prosperous New Year.

Cheers

Steve

Legend

As a proud Coventrian I would like to pay tribute to the most important person to grace our fine City since the Earl of Mercia, Lord Leofric’s wife the Lady Godiva rode naked though the streets of Coventry on her white horse in protest of her Husband’s oppressive taxation of his tenants…….. Jimmy Hill OBE.CBE

Jimmy was an inspirational man who many will know only as a presenter on Match of The Day. He was so much more than that.

His playing career spanned over 350 games, the majority for Fulham, where he became Chairman of the Professional Footballers Association (PFA). He campaigned for the abolition of the then £20 maximum wage that a footballer could earn. He was successful in 1961.

He came to us in 1961 at the age of just 33 and took over what then was a struggling 3rd Division club (League 2 now). Coventry in the 1960’s was an awesome place. After the City was destroyed by the Luftwaffe in November 1940, it was a time of redevelopment and transformation. A new Cathedral, a vibrant Motor Industry, we were turning out Iconic cars such as the E type Jaguar, Triumph TR4 and 5, The London “Black Cab” and the best Motorcycle ever made. The Triumph Bonneville. He harnessed this energy and transformed the club. Changing our kit to Sky Blue, adopting the nickname “The Sky Blues” and even wrote what became the club song to the tune of the old Eton Boating tune. “The Sky Blue Song” He also added visionary innovations such as pre match entertainment to encourage the fans to arrive early to build atmosphere. He created what was the first ever colour match day program. Arranged match day trains for the travelling fans to see away matches and oversaw the instillation of the games first electronic scoreboard.

Something not so well known was Jimmy’s “pop and crisp” nights. He got the players in to give out pop and crisps to 100’s of young fans and sign autographs. The forerunner to the community programs that clubs all run nowadays.

He oversaw a redevelopment of the ground which all helped City gain promotion from the old 3rd Division into the top division (Division 1) in 1967, He quit before the start of the clubs first season in the top flight.

He became a Director of Coventry City in 1975, before taking over as Chairman. Making Highfield Road England’s first all seater stadium in 1981.

Most will probably know Jimmy through his media work, his time on Match of The Day being the most notable. He was never afraid to be controversial and it was his idea to have a panel of pundits. Jimmy is also credited with persuading the FA to introduce 3 points for a win, which has been adopted all over the World. At a match between Liverpool and Arsenal in 1972 the linesman was injured. Jimmy stepped in to run the line. Incredible.

In terms of important changes to the way Football is played, managed and viewed in modern times, Jimmy was the guy who forced and innovated those changes. Jimmy Hill was the most important figure that the game has ever had.

My deepest condolences go to Jimmy’s family. To the people of Coventry he will always be “Our Jimmy”. We will miss him terribly. He was and always will be a Legend.

jimmy

Communication & Social Media

Over the time I have been writing my blog, you may know that I struggle to maintain it as often as i should . I have the Twitter account @itsamugsgame, but 142 characters is sometimes a waste of time. Sometimes i want to make a small comment, or see something that i want to reference. The blog is a little to “serious’ for that. So I have decided to make more use of Facebook. It seems that this might be the way to go for me.

I will still be using the blog, and sometimes what I post on Facebook will be replicated on here and visa versa. i want to reach as many people as possible, I think that Facebook is much more mobile friendly, and as we all know mobile communication is the future (and present on doubt).

So if you are interested in what i have to say (oh dear oh dear)  Please Like my Facebook page and you will be able to hear a bit more from me.

https://www.facebook.com/ItsAMugsGame/ is the place where I hang out. See you there!

Cheers

Steve

Changes to Mentorship Program 2016

I just wanted to mention that I am going to be making a huge change to my Mentorship program in 2016.

As it stands I have 2 remaining inductions into the program on 28th September and 23rd November. There are limited places left for these dates. MG World has been very successful in terms of what I set out to achieve. Once you have attended the induction you have the option to stay in “MG World” and have continued Mentoring. Many have taken up this option. In truth there has to be a limit to that support. The limit I am comfortable has been reached now.

Moving forward in 2016 I will be offering a different product. This will be a day long workshop for Racing Traders. Access to my Skype rooms will not be included unless there are spaces available. Dates/Exact content and Pricing will be announced closer later in the year.

if you wish to be included in the last places of my Mentorship program LINK HERE

There are few places available so please hurry. Get in touch at mugsgame@hotmail.co.uk