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

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!

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

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.

 

Visualisation Part 1

My latest Mentorship Induction has once again bought into focus how we view data.
Without doubt this is the most important tool we have in trying to understand the dark art that is the Racing market.

I have many questions about this and thought it was about time I addressed it.

As many of you will know my background is from manufacturing, specifically in the Motor Industry. I spent most of my manufacturing career at Peugeot including a 9 week spell at Toyota. The Toyota experience was particularly enlightening. They pretty much wrote the book on modern manufacturing techniques that most of the World’s blue chip Company’s use in their manufacturing processes. It is widely know as Kaizen or “continuous improvement”. This philosophy opens up a whole range of lean manufacturing techniques, which I won’t bore you with. But the one I want to talk about here is the visualisation aspect.

Within each area of the Toyota plant is a space where there are information can be displayed. Every aspect of each areas performance is measured. From staff absence to build numbers. It is heavily influenced by quality indicators and they are all displayed in a familiar pattern. The idea is anyone from the management team can walk into each area and within a few minutes get an unto date snapshot of how the area is performing and more importantly see any negative trends developing that require attention. This works very well, as Toyota produce some of the highest quality and reliable cars ever built.

So what has this got to do with Betfair/Betdaq and trading?

Visualisation. It taught me how important it is visualise what is going on. To see a bigger picture.
Now you will be familiar with my set up.It’s about as simple as it gets. There isn’t that much data that is returned from Betfair, but there are a multitude of ways we can display it. The software vendors have given us lots of options with this. So you wannabe City Traders can sit there with multiple screens filled with impressive looking graphs and charts to help you make some profit. Now although I snigger at this, let me say that for some of you I am sure it works. And that’s the point. You need to use the visualisation tools that you have to understand what is going on.

What do I need to understand the market?

How much Traded Volume?
How much was matched at what odds?
When was it matched?
What odds is being matched now?
How much money is available at each price point?
How quickly is this being matched?

These are the key pieces of information. The rest is how that is visualised.

In Part 2 I will go deeper into that.
This screenshot has all the indicators I use. Less is more for me.
Visualisation1

It Doesn’t Always Happen

There is no doubt that if you watch all the videos on You Tube about Betfair trading, then it’s clear to see that everyone wins , all of the time. If you in fact have more than 1 brain cell, you will have worked out that this isn’t the case. This of course depends on your style of trading.

My style as a prominently swing trader means that I have losing trades. This isn’t something I am in some way ashamed of. What i am interested is in that I make long term profits consistently. To do this I lose a few along the way.

I have said many times, and i say it on a almost daily basis to my Mentorship Group, that is ok to lose. But there are caveats to losing. The main one being it has to be controlled. Out of control trades are the bane of every aspiring trader. You know the drill. It inevitably leads into some sort of in play carnage.

What I hope to show you in this losing trade, that it’s ok to take a controlled loss. You don’t have to like it!. But there is a quiet satisfaction knowing that you are in control.

I have 1 place left for my mentorship Inductions on 28th September. If you are interested in learning to trade and getting ongoing support please get in touch. mugsgame@hotmail.co.uk

See my mentorship prospectus page here

Betfair & Paddy Power to Merge

So today’s big news is the announcement that Betfair and Paddy Power are to merge. As someone who makes a living from the betting exchanges this is obviously very important news to me. So what’s my thoughts on it?

Over the years there have been many changes to the exchanges. We have seen Betdaq emerging as a serious alternative to Betfair. Betfair established the Sports exchange and did it very well for many years. Since the Company went public they have been losing their way. It seems they want to be a mainstream Bookmaker and the ship is being steered that way whatever they say. So what does this mean for us? The exchange user.

If we look back over the years and the massive changes that Betfair have introduced. Starting with Cross matching, Premium Charge and the Sportsbook. All have impacted the exchange. Some in more noticeable ways than others. But it rolls on. yes, it’s imperfect, but it still works and I am still able to operate with reasonable results. Is this the end? NO!!!!

There is lots of scaremongering going around the forums and Twitter. Many think Paddy Power are going to close the exchange down? isn’t that a bit like buying a new car and then setting it on fire outside your house? It would make no sense. My concerns lie with the longer term strategy. Whatever way you look at the betting industry moving forward into the next decade and beyond. Online gaming is where it’s at. If it’s true that most of a bookmakers profits come from F.O.B.T’s in their shops, It’s clear to see that the Government are on that gravy train and will either want a bigger piece of the action or the “outraged” lobby will have their way and get them banned or make the stakes akin to a 2p slot machine in Brighton pavilion.

Lets remember that Paddy Power have acquired Betfair. NOT the other way around, Has Paddy Power spotted that Betfair has an awesome Sportsbook? No chance. We all know that’s a joke. They offer the worse prices across the industry. But they do have a 3.9 million user database. So in effect PP will have going on 4 million new customers (minus the 1m Betfair users that they have banned :) ) Did Ladbrokes close down Betdaq when they acquired it? No, No one can argue that Betdaq is in a better place now.

The exchange model is here to stay. people want it, and it makes money. The very best businesses are the ones that give their customers what they want. Not what they want their customers to have. Betfair have lost their way, no doubt about that. I don’t really care anymore what they do. One door closes and another always opens.

 

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

Controlling A Loss

Controlling A Loss

I believe that this is the key skill in trading. Knowing when to take a loss.

It’s the 1st thing I talk about when I get the my Ladder trading part of Mentorship Program, and it’s a constant theme all the way though. “Have an Exit and Control your losses.”

If you know where your exit is then everything else will take care of itself – Put simply. If you watch many of my videos, you will notice that often I will mention where my exit is. In this style of trading getting it right every time can be a challenge. I am happy to make or lose relatively small amounts knowing that there will always be a couple of decent wins during most days to get the corn in.

Learning to Lose is part of the game. You don’t have to like it, but you have to accept it. What you cannot accept is out of controlled losses. Trades that start to go wrong, you think they will come back, they don’t and before you know it you’re in a world of hurt. So then “Fuck it” mode takes over. Next thing is you take it in play. ‘it’s the fav right? It HAS to trade lower” Er – No it doesn’t. So you end up losing 50% of your bank and it sets the tone of your trading for the next few weeks. If you can recognise yourself here, then listening to what I am saying may be a good idea.

So lecturing about what I call “Cuntishness” is all well and good. Having someone telling you what you should be doing while they sit up high. But putting this into practice is very difficult. Sometimes you are trying to break habits that span many years. Try stopping masterbating and you will see what i mean.

The best I can offer is to trust your method. If you find yourself in this position often, then re look at your method. But once you can take a controlled loss and walk away, you will find it almost liberating. Another thing to note is once you end the trade with either a profit or loss. that doesn’t have to be the end of your activity in that race. In the video example i show, There is till over 4 minutes to go before the race is scheduled off. So many more opportunities may present themselves. I don’t let the loss of the initial trade effect anything that I do afterwards. I am not chasing the loss. I find another trade and execute it as a fresh trade. No baggage.

So enough waffle. take a look at the video and see what i did. If you fancy getting involved in my mentorship program. Have a look HERE. I have limited places for 23rd September’s event.