Tuning In

Breaking down what I do so I can sure it with you guys has been a worthwhile experience. But better than that is my time spent with the chaps in my Sykpe room. I couldn’t wish for a better group of guys to hang out with. They come from all walks of life and cover generations. We have a laugh, learn and make a few quid.

It also gives me a snapshot of how others trade. Not so much the nuts and bolts, but some of their habits. Good and bad. When I spot something good I offer encouragement, while something bad I see gives me a chance to take them to onside and offer a few words of advice.

I find myself looking more critically at what I do myself. For many years I have done as I have pleased. Now I feel I must set the highest standards – an example. If I let the odd one go in play, how can I advise others that they shouldn’t? This has led to an increase in my own levels of discipline. (Not that I am prone to letting races go in play to chase a bad position – I deleted that nonsense from my trading many years ago). But my time management is a little suspect, so I have tightened that right up.

When I start to trade the afternoon’s Racing I have a few things I need to do to be effective. I thought I’d share them with you.

  • I am at my desk, with all my software and races loaded well before the start of the first race I want to trade.
  • I make sure I have the TV pictures and the right channel on (Been caught with wrong channel on more than once)
  • Anyone in the house understands that I am not to be disturbed unless the hours is on fire or someone’s life is in mortal danger. The days of “can you hang the washing out love”?  are long gone.

This may sound weird to some, but it’s what I feel so I’ll say it. I like to feel my way in to the markets. I think there are subtle changes to the way they behave. They have different fill rates and depending on how busy the schedule is a different “flow” to them. I cannot just turn my machine on and trade at 100% straight away. So when I am trading Racing, I am trading Racing. Not one race and then a couple of points on tennis, a wicket in the cricket, lay a unders in a football match and then back to a race. I can’t do it. I am not good enough.

So my advice to anyone who trades in the style I have just described, and then wonders why they are not being as successful as they would like to be, is to concentrate on one thing at a time. If you want to trade Tennis – then trade Tennis. If you want to trade Football then trade Football. But doning them with racing isn’t something I do. I need to “tune in”. If I go all over the place trading different events and sports I lose the thread of the markets.

Another trait of this type of trading is jumping from horse to horse in a market. I do this sometimes, but only if the opportunity switches. It isn’t very often and it isn’t very successful on the whole. Here’s a scenario:

The 2nd fav you backed starts to drift, you close for a 4 tick loss. You have your maximum stake on so it’s a bigger loss that would have been if you had staked progressively. You see the favourite has started to move in very quickly, someone has just dumped 10k on it. You can’t bear to be left behind so you again go in hard with your maximum stake. It immediately starts to reverse and you again cut out for a bigger loss that the first trade. You’re now in meltdown and you ruin your Day/Week or even Month. Sound familiar?

Try sticking to one sport at a time. Whatever that is. Try it and see if it makes a difference. Don’t worry too much about what others are doing. People on want you to hear about how well they are doing or how much they are enjoying their life. When was the last time on of your mates on Holiday put on Facebook “having a shit holiday, the bastards in the room next door get in a 4:00 am and make a load of noise. The bar over the road is blasting out Agado every other song until 5:30am and the food is awful. I hate having cheese sprinkled on my chips and the sausages are vile. The woman from Manchester lets her little lad stand by the pool and urinate into it every afternoon and the Beer is €6 a pint and is weak as piss.”? More likely they do not mention any of this, just a few selfies on a sun lounger and a pretty girl in a Bikini with big tits.

If you trading racing – Tune in see if it makes any difference to you day.

Just to say – I am looking to increase my Twitter presence. In fairness I am not a prolific Tweeter. I only really use it to either take the piss or let people know about my blog. Looking to change it up a bit. So if you follow my blog but not my Twitter – it’s @itsamugsgame. I’d love to boost my Blog readership too. I don’t have link ups with other sites or blog shares, so it’s hard for people to find me. I put a lot of effort int my blog and I feel this deserves a bigger audience, so if you genuinely enjoy what I write and share, it would be great if you could recommend me to you friends, followers etc.

Cheers Steve

 

10 thoughts on “Tuning In

  1. Hi Steve just a short line to say thanks for all your hard work and advice .I am concentrating on the wearily morning back to lay trades as they suit my work better and they are not as hectic as the ladder trades just b4 the off.your trade videos have been invaluable to me and I am learning every time I re watch them. Glad your mentorship program is going well and I wish you contuined success in all your efforts cheers alan

    • Thanks Alan – I’d love to see you in my program! Think you would fit in well. Appreciate your comments, as always it’s great to here good feedback. – Cheers Steve

  2. Sorry mugs sent that without finishing the mail. Well done on the newest mails find them very helpful. Starting to see some good results

    Cheers Mugs,

    Mark

  3. Thanks Mugs,

    I have been putting some of your methods to good use the last few weeks not always looking for the big swing trade instead entering a markets looking to make a few quid but the main thing is to not lose. Sometimes the swing comes along and I try hop on. I know you have said it millions of times but finally the penny has dropped about “trading the market”. Exit position before I enter has also been of great benefit. Find your last read very interesting because I was defo someone who was in too many markets. In the last few weeks I’ve trimmed the trading down to 2 sports horses & golf . Newbies get lost reading forums looking at traders making a fortune at a load of different sports thinking this is what I need to be involved in I know I did. Anyway it’s taken me a year & half to realise that but would of taken a lot longer if it wasn’t for your help. Would advise anyone starting out or struggling that May read this to refine the trades and markets you enter build confidence and the rest will fall into place. I hope it does

    • Thanks Mark – it’s great to know what I say actually makes a positive difference to you guys – Cheers Steve

  4. What did I ask you to confirm to Bev while we were having a beer after the course? exactly the above, what do I do? none (or not very much of the above). Thanks for the reminder Steve…….it is a prerequisite that I am short of

  5. Hiya Steve.

    I love the site and the way that you present your videos. I have followed Jack Birkhead and Caan Berry and you all provide some great information on how to tackle the pre-race markets. It’s interesting to see that you all have slightly different approaches and I have found that your approach has pretty much ‘glued together’ what I have learnt from both Jack and Caan.

    I’ve always been an in-running trader so sometimes it’s hard to try and attempt both, but when time permits I’m having a dabble in the pre-race and your videos have certainly helped.

    Cheers – Dave.

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