I've read blogs and forums on trading for years and I thought id finally get my azz in gear and make 1 myself. I have to say that the totals Adam Heathcote is hitting on a daily basis is very very impressive, and don't let it get you down that your not hitting anywhere near those amounts. You have to gradually improve your trading starting small, then with experience up your stakes to a bank you are comfortable playing with. This is a guy who is on top of the game, just keep positive at all times and consistent profits will come.
I hope to try and encourage people that although the light at the end of the tunnel sometimes seems impossible to reach, trust me with hard work and persistence you can make a living from Betfair. The traders mindset you need to profit consistently is that of ultimate fine-tuning. Like a formula 1 car being tweaked to run at its optimum performance. Its often the small differences you change whilst trading that makes the difference between winning and losing. You have to perfect the basics and then fine tune everything else to make the whole package run smoothly. In writing my thoughts, I hope to improve my traders minset and the mindset of others. The number 1 rule...discipline, being able to discipline your mind at all times.
I've had a very respectable week working from Tuesday-Saturday. Hoping this blog will keep my focus.
Welcome to blogland. Looking forward to watching your progress.
ReplyDeleteCheers
Allan
Greetings Jack,
ReplyDeleteLooks like you are off to a rousing start! Best of Luck in your plan.
Jake
Looking forward to reading the blog, best of luck to you.
ReplyDeleteAndy
Good luck to You in Your progress!
ReplyDeleteAll the best Jack, could i ask what bank you operate from?
ReplyDeleteGood luck with the blog, keep us updated!
ReplyDeleteThanks for all the comments guyz,
ReplyDeleteanonymous i trade with a bank of upto 5k.
But only use that amounts on the bigger meetings.
On average i use between £2-3k bank. Which I build over the week and send back on the Saturday. With a lower bank i can use it aggressively
Thanks for the reply
ReplyDeleteHi Jack,
ReplyDeleteGreat blog, good luck with it.
I'm having a bit of a problem you may be able to advise me on... I seem to have a run of 10 races where I'll make a profit and break even, then I'll have a devastating race that will put me in the red. It just continues like this. Did this ever happen to you at any stage of your learning process?
Cheers,
Nick
Hi Nick,
ReplyDeleteIts a very common occurrence in trading and too be honest a daily battle to overcome it. I believe in trying to protect what you have made already that day. Still be confident just knowing in your head you don't have to do anything silly. But limiting your losses is the key. A small loss turns into a large one very quickly. Try and learn to see the large losses developing from the smaller ones, and just get out instantly if you see this happening. Maybe try and be even more selective on the trades you make, ensuring you protect that winning streak you are going on.
Hope this helps