Bank Protection

One of the key skills any person aspiring to be successful when trading on Betfair’s exchange or placing bets with any bookmaker is some sort of bank management. In particular keeping your bank as intact as possible.

One of the fundamental principles is you need to be able to facilitate further growth in your fund. If you lose that, or severely diminish it. It could be game over.
This video will give a few pointers on this subject.

As always i welcome your comments, and will always try to reply in a timely fashion.
If you would be interested in learning how I trade and learning from me. Please either look at my “Learn to trade with Steve” page. Or alternatively have a look at my Online Learning Portal Sportstradingschool.
Cheers Steve

2 thoughts on “Bank Protection

  1. Great video. This is a subject not talked about enough IMO. Too many traders are ex-punters and have losing/reloading deeply ingrained in their DNA.

    I must confess that having been a poker player (at reasonably high stakes) for over 40 years when I started trading I probably had too high a pain threshold when it came to losing trades.

    Any non-gambler who was tasked with learning to trade would have used play money 100 X longer than I did and when they started with real money would have used smaller stakes for a lot longer too.

    I think ego/machismo, call it what you like, gets in the way.

    I’ve recently reduced my bank and changed my liability to a small % of bank and set myself the challenge of building it back up.

    Time to stop messing around and knuckle down.

    • Thanks for your reply David.
      I appreciate the kind words and agree with what you say about setting a lower liability. My students have the words “It’s all about execution – forget the money” repeated on an almost daily basis.
      That’s not to say that things change as the stakes increase. There are another set of problems that may show their ugly head once we are using what I call “serious” stakes. When I was 17 I was able to buy and ride a motorbike capable of over 130mph.Although I built up to that very quickly. I could have passed my test and the next day without the necessary skills rode a monster like that. The amount of deaths this caused made the basis for the licensing laws we have today. You simply can not do this now. So traders who use unrealistic stakes, without serving some sort of apprenticeship. Whether that by way of training, or using skills they have accumulated is madness. It will of course almost certainly end very badly in most cases. Good luck with your challenge. I have no doubt you will get to where you want to get to.

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