Racing News Blog

02/05/20

The importance of small steps

Making a success in trading is no different to mastering anything else in life, small steps will ultimately allow you to win the race in the end.
It is very easy to see someone else who is a very successful trader and you want to get to their level but what you don’t see is the struggle that they have endured to reach that level.

Most people don’t see, for example, the boxer clocking up the miles on the road, in the cold, dark, wet mornings, all they see is the end product of a finely tuned athlete, under the lights, lifting that belt.
Trading really is no different. Trading is a form of self mastery, so you are going to have to be prepared to go through the struggle and there is no guarantee that you will make a success of it in the end.

It is a fact that the brain you bring into trading is not the brain that will make you money, so whilst trying to find a way, a method, an edge, you are also working on your mindset, therefore it is no wonder, why so many people completely blow up, fail and quit.

So where do you start? Well, having a basic understanding of the trading software you will be using and what sport and which particular markets within that sport you wish to trade and the method/style that suits you best. Then, continually working on tweaking that mindset as you master your edge. These will all be important factors, amongst many, many others.
But even this is not enough because what many don’t realise is one size does not fit all, after all, we are not robots so our human frailties and flaws will increase the challenges we face. We all come from different backgrounds, we think and behave entirely differently, so you have to develop your very own self mastery and style.
It is easy to say, stay disciplined, be patient but it’s actually putting that into practice, understanding your mind, how your emotions can cloud your judgement in the heat of battle and understanding how you, yourself, personally tick, is very important indeed.

I recently hosted a webinar for members of our group, covering some of this and actually, in all of our webinars you’ll find all of the information is there in order to assist you and help fine tune that mindset.
But so many want to do it all on day one and you just can’t, it is impossible.
You have to treat your trading journey as an apprenticeship. Those that do and take small steps as they progress, have a good shot at success.
If you are just aimlessly throwing money around all of the time in the misguided hope of becoming successful you may as well just forget the whole thing as it will end in failure.

There are many key pieces to the puzzle you must master. Two of the main pieces are your own mindset and a solid method of execution with which to work from.
If you do not understand how variance works within your own method of execution, you must, it’s imperative and you must be able to adapt to changes in the market. If your method allows you to simply enter any market, then you certainly need to question if your method is worth persevering with. Similarly, you will need a method that doesn’t restrict you too much and therefore limit your entries, thereby, leaving money on the table, so to speak. Finding that sweet spot in all areas of trading is the key. Hit that sweet spot and you will become a consistently proficient and profitable trader.

Our trading courses and academy hand you all the pieces of the puzzle. They teach you how to competently read the horse racing in-play markets.
If you progress from our course and then go through the steps required in our academy, then you will give yourself a very good chance of success. It is designed to ultimately turn you into a competent and self-sufficient trader who can successfully execute in different ways, but you have to take it one step at a time.

So, sticking to one way of trading should be your starting block, complete level one then move onto the next level. Those that implement this fully and use the mindset information within our group will stand a great chance of success at this.
Trying to back and lay in every market or in too many markets to begin with, will end in disaster.

Work on one method and slowly build things from there, then, as you gradually build, you will slowly increase your stake sizes and make additional entries perhaps in the same market and also enter into markets you may not have previously deemed tradeable. Ultimately these progressions will help to grow your bank and will mean that your profits increase.

Members have all the tools in our group at their disposal from day one to eventually become a competent and self sufficient trader, but it is then down to the individual to take this all extremely seriously by planning your journey, recording your progress in a journal perhaps, recording your trades and watching them back with a fresh head, taking notes, working on the mindset, working on both your strengths and weaknesses.

Rome wasn’t built in a day as the saying goes, so take small steps and slowly build things as you gain knowledge of the sport and markets you trade.

Good luck & stay green.

Matt