Starting my Mentorship program has changed the way I am thinking about my blog and what sort of videos and articles I write. It’s got me thinking about my “target audience” i.e my readers, and what they want to watch and read. Obviously that old saying “You can’t please all or the people all of the time” holds true. However, although it’s great to watch a video where I catch a big swing and make a decent amount, the reality is that just does not happen every race. Simply because swings like that do not exists in every race, and I don’t always catch them if the do. I think what is more of value – from a purely educational point of view. (My blog is about educating you to help you make money – not to entertain, although iI certainly try to achieve both. If I succeed I will certainly gain more followers.) On that note, if you like my work please share it and tweet about it. If on the other hand you reckon it’s shite – just keep that to yourself 🙂
One of the mistakes you can fall into is bandwagon trading. You see a big swing and think to yourself “I’m ‘avin some of that”. You get on and almost immediately the swing reverses and you lose money. We have all done this at one time or another. If it keeps happening to you, you need to rethink your entry position more carefully. My mantra is “If you miss the start, wait for the bounce”. Moves do not go on forever. It’s like going to a rock concert as they are just coming on for the encore. In this video there is certainly some of that. What is painful is sitting there thinking, “this move cannot go on forever, I am making a good choice sitting this out!” and it does. But in the long term this will save you money trust me. Like I always say – Trading in hindsight is really easy. It’s a little different when it’s your money disappearing.
So with all that in mind, my aim now is to make a series of videos that show the less spectacular side of trading. Just relatively low stakes and what I call “low risk” trades. Always under control, nearly always in profit from the very start and using some understanding of how a market reacts to build a position and consistently take money from the markets.
This one is a real “plodder” not a great deal is happening. The market is competitive with pressure on the Favourite from several runners. Nothing is steaming spectacularly and nothing is really drifting either. The range the Fav is trading in is really defined and very tight. So I use this as a platform to show you how you can build a tidy position with reasonably low stakes and very little risk. These are the types of trades I am drilling my mentorship group with over the past few days, with some great results. The power of the set up we have enables me to share my insight and advice in real time.
Huge wins in every race would be fantastic, but the way you make money is to have real consistency, win modest amounts regularly with your losses few and always under control.
I posted a new page yesterday that discusses the phases of a market – Read it HERE
Just to say also, that my dates for the trading and Mentorship program in June has now sold out. There are a few places left for July 28th if you are interested. You can read about that HERE
As always I welcome your comments and questions.