Racing News Blog

21/03/24

Trading Performance

“I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. Twenty-six times I’ve been trusted to take the game-winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed” 

 – Michael Jordan  

 

There are several key elements you need to give yourself a chance of success in trading. Once you establish them key ingredients that is really only step one of your journey to profit. The next step is learning your edge, learning about yourself, your strengths and weaknesses. Understanding you do not control outcome, you do not control winning or losing but you control the mind you bring into trading. After this when you gain hours of experience watching lots and lots of markets you then get to a level where you are probably either breaking even or winning some days, maybe several in a row, then possibly have the odd poor day or even making some consistency and making small gains.

Trading does come with them eureka moments, so you have an edge, you have experience, you can make money to a shall we say intermediate level, you are no longer a novice, you understand your subject, your sport what you are trading. But you want to take it to that next level, understanding how you can improve that P&L. Well that can be done by understanding where you can stay in trades longer to maximise a move and possibly stake more money. This is all well and good on paper but your edge in each given market must also allow and present the opportunity for you to alter staking or hold on for a bigger return, this is where some go wrong when trying to progress.

So your performance is so important, it was important when learning to trade, it is even more important now. You have to perform, you understand the variances in the market, understand how emotions affect your judgment, how they effect you when variance hits but also when the green trades roll in. Keeping going knowing you can ride through the storm of variance so when the good trades, days, weeks hit you can profit nicely knowing your time of variance you protected that bank and didn’t blow it losing your mind in total frustration.

Having emotional intelligence is vital, so you have that, so you have everything in the palm of your hands and in your brain to make consistent profits over the long term. Now everything is down to performance, absolutely everything. The way you apply yourself, prepare yourself, staying focused, hydrated, creating the right environment, keeping pressure off your shoulders to win. Focusing on your mental strengths and weaknesses without losing sight of the key principles of your edge knowing variance can hit at any point but being prepared for it.

So preparing yourself and monitoring your performance is vitally important so you perform to your best time and time again. Your financial rewards will be there to see for you long term if you do this, not short term. The short term frustrations are there for us all it does not matter how experienced you are they are still there. The difference with the long term profitable traders are they know and can adapt to market circumstances by performing at the top of their game from their knowledge and experience. Granted you will have an off day all of us do, even the best traders in the world can have an off day. If you think about it every top sports person or team has an off day over the long term, it is no different with traders, we are the same. The difference is the best ones have fewer off days so their results are better over the longer term. So don’t beat yourself up if you are having a bad day, the key is to acknowledge it and act positively from being mentally mature. If you can do this then you are there in that place where you can profit long term.

The quote at the top of this blog post from Micheal Jordan is so true, he was never scared of failing, he put in the hours to improve and when he got to the top of his game his focus was on performance to remain there. So working on yourself, managing yourself is very important. As human beings we are all different, so our approaches are slightly different, you have to know yourself, understand yourself and apply yourself correctly in any given moment whilst trading.  

I go into more depth about performance giving key pointers to help improve in that area on our courses and in our academy and offer help within our group via our chat rooms and 1-2-1 if needed. You might be struggling with your edge or mentally or a combination of the two. My guidance can help try to unpick your failings so you understand them and you can improve your performance in future.  

If you want to know more about learning to trade horse racing on Betfair in-play and be handed a fast track I never had then check out the previous success story blog posts below and check out the podcasts and courses links too. Drop an email via our website contact boxes for more details and if you have any questions we can arrange a zoom or skype chat if you wish to know more.

Good luck & stay green

Matt

Links:

Check out more about our courses:

https://huntingforprofit.co.uk/trading-courses-1/

https://huntingforprofit.co.uk/trading-courses-2

Some of our successful members have joined me on podcasts:

https://huntingforprofit.co.uk/podcasts/

Our testimonials page:

https://huntingforprofit.co.uk/testimonials/

If you want to know more about me check out my about page with links to a YouTube interview I done with Simon Nott from Star Sports:

https://huntingforprofit.co.uk/about/

Check out members success story blog posts below: