Racing News Blog
Finding a Balance
We have had an excellent summer of racing with huge summer cards littered with so many opportunities, but with so many opportunities comes a danger of over trading and on the flip side with less opportunities comes the temptation to go looking for trades that are just not there.
Over trading is a killer, it can be so easy to get into a rhythm growing with confidence with a positive trade after another where you get sucked in and before you know it your brain plays tricks on you and a poor trade hits. Too much screen time causes burn out and is something I have admitted to being guilty of in the past. You might think well how do we combat this?
Well there are two key ingredients we need to over come this, the first is we need our edge to show its hand. Over trading normally comes from looking for something that is not there. Being patient and waiting for that solid opportunity is a must and not getting sucked into weak trades. At Hunting for Profit we have strategies that when they play out gives us a solid chance of success when in play. We have to wait for them opportunities to even consider entry.
Identifying a solid opportunity is the first stage but only half the job done. The second ingredient once we enter we still have to execute correctly. There is no point having several solid opportunities and executing badly. At Hunting for Profit we have an execution plan, we have a good idea when to get in and when to get out without this the market will eat you up.
So many traders go looking elsewhere instead of being patient and letting their edge play out in front of their eyes. Either desperate to find a trade to make that money or scared of missing out. The fear of missing out gets many people however if you learn a solid edge that fear should slowly disappear.
The summers cards are slowly disappearing and we will now go into the winter cards, shorter days with in the main just national hunt racing and some All Weather racing. Part time traders with limited screen time will no longer have the huge summer cards to rely on and many will push for trades that do not fit their requirements for a trade knowing they have limited screen time.
Waiting for the solid opportunity is vitally important to success it does not matter what time of year it is the market does not care. Luckily national hunt racing throws up some incredibly good opportunities in play and sometimes several in one race. If patient the in running cards should still present enough opportunities for us to have a fruitful winter.
Fine tuning what you do in this game is vitally important, doing too much can make serious damages to your trading results. Focusing on one sport, area of sport or even particular type of trade with a solid plan waiting for that solid entry and focusing on execution and nothing else will give you a fighting chance of success.
Luckily us in running traders get many opportunities daily where the market presents a solid opportunity but we still must remind ourselves that a solid opportunity and quality execution is the key to finding that balance.