March Betfair Trading Update
I started trading in Jan 2019 and as a long term “work from home” person I trade almost every day and in the intervening 15 months I’ve had just one green month in all that time.
After getting some help from my new mentor and embracing his methods from 25th Feb I was confident that I’d be green in March.
I didn’t quite manage it and that has been tough to take. Having had some time to reflect on it though I’ve realised that it wasn’t too bad a month in the grand scheme of things. If for no other reason than of all the losing months I’ve had this is the smallest one!
My average losing month from trading has been about £400 so to lose just under £40 has to be better, right? Also, if I add in the last 5 days of Feb when I started to fully embrace his methods I’m just about in profit since I started.
I didn’t quite manage a green month with this new approach to trading, but I can see already this is very promising for me.
Because this method builds on the race reading skills I’ve developed over the last 10 months, I feel I have a huge head start over someone who tries this method never having done In-Running before.
I’m still basically doing L2B looking for horses that come under pressure early but now there is a bit more strategic thinking and a far stricter selection process behind my trades. (Well most of the time there is)
In my view no method can be mastered in less than six months and most take twelve.
There is no eBook or trading course in the world that you can pay for that will instantly turn you into a winner and if it’s being sold on that basis, my advice is don’t buy it.
For me though I’m lucky that this method is just building on my previously learnt skills and just requires me to apply greater discipline and be far more selective.
I go into more detail in the summary at the bottom of this update on my plans going forward and how I see this method panning out for me.
What was my trading plan for March?
OK so my plan was to do the *4 Max Challenge throughout the whole month of March. *Read February’s update for what it’s all about if you haven’t read it.
The best laid plans and all that!
A world-wide pandemic which you may have heard of, meant that all the UK racing was cancelled and eventually the Irish races as well.
When I was just doing the Irish races, I thought it would be great if I could keep my eye in during the UK shutdown. The just one meeting a day, with pictures on RTV, meant I was quite happy. Liquidity shot up on the Irish races and it was fine for trading.
My main problem was caused by having so few races to find the 3 or 4 good ones a day I was looking for. One of the biggest faults I and most other new traders suffer from is “pressure to enter” the market, known as the “fear of missing out.”
I traded a couple of races I shouldn’t have done and that was costly as it always is. You’d think as I know it, I’d be able to resist the urge by now but apparently not.
Anyway, it was shame when the Irish racing stopped but I like many other In-Running traders turned my attention to Australia and the USA. The BF video seemed a mile behind on some of the Aussie races, so I stopped trading them very quickly.
The USA races especially the ones at Tampa (Florida) though are very good to trade in-running. Some of the others are a bit too risky and though I traded some of the others I’ve decided to give them a miss in April.
Below is my daily report which I write each day as I go along and below that is my summary and plans for my trading going forward.
Oh dear my “No Red Race” otherwise known as my “4 Max Challenge” got shot down on its sixth day today.
Having watched the race again I could have left it altogether or layed it sooner. Either would have been fine.
With a little bit of luck, I’d have got out as only about £1 of my back bet didn’t get matched. Though the whole point of trading is to make luck irrelevant.
To be honest I didn’t even realise it hadn’t all been matched till it was too late to do much about it.
To compound the problem in the next race I layed the fav “Poker Party” which would have been a great trade, but I lost my nerve. The price started to shorten for no viable reason. Even when I was watching it run badly, because of the previous red race, I panicked and traded out.
Took a small green but would have won £15 if I’d backed my judgement.
I was very annoyed to have my first red race in 6 days but I was green overall today so it could have been worse.
So tomorrow I reset the clock and go again.
Number of Races 16
Traded 4, 1 loss, 3 wins. Biggest loss £10.72, biggest win £13.74
Daily Total: Plus £5.93
A very slow day for me. My patience was rewarded by not losing any money at all. There were a couple of races where I would almost certainly have lost money not so long ago.
Somebody warned me about the favourite in the 16.15 @ Wetherby. He said “Main Fact (Fav) tends to come off the bridle quite early but keeps finding. Be careful.”
It looked like it had no chance for large chunks of the race and I’m sure lots of L2B’ers would have done their plums on it, as it won well in the end.
For me it was a no risk day and my bank is fully intact and ready for tomorrows racing.
Number of Races 13
Traded 3, 0 losses, 3 wins. Biggest loss N/A, biggest win £4.14
Daily Total: Plus £10.30
Another day that looked like it wouldn’t offer much, but my patience was rewarded. When the first couple of opportunities finally did arise for me, I missed one and was so late on another that I only won 80p from it.
It looks like I traded 5 races but the 14.10 was just a scratch trade to get the picture up as I recorded the race. I sometimes record my trades to review them later. My staff training/coaching background means I realise the importance of evaluating my performance as a way of improving.
I find videoing my trades good or bad ones, really helps me with my race reading and decision making skills.
A good day in the end as this is my 8th straight green day and my most profitable since my “4 Max Challenge” started.
Number of Races 14
Traded 4, 0 losses, 4 wins. Biggest loss N/A, biggest win £10.37
Daily Total: Plus £23.20
This seemed a very easy days trading, which in some ways is a little worrying to me. After trying to trade for about 14 months now and continually having the crap kicked out of me by the market, I find it difficult to grasp just how easy this was.
3/3 good, solid, no risk trades and one where I scratched it because after I layed it the price held steady. It didn’t win but I like to be in and out quickly so as the price held, I took the option to scratch it.
Annoyingly straight after I scratched the price shot out to 1000 in a matter of seconds!
At that point in the day though I was already £19 up and I didn’t want to jeopardise that. So I was happy with the scratch.
Number of Races 9
Traded 4, 0 losses, 3 wins. Biggest loss N/A, biggest win £12.46
Daily Total: Plus £31.71
After yesterday’s easy day, today was a lot tougher. I didn’t bother watching the Southwell races as the other 3 meetings were on RTV and I knew there would be at least four races for me to trade.
I had 2 good trades and 2 other races where I had to scratch.
On a positive note I’ve had 10 straight green days, the most I’ve ever manged since I started trading in Jan 2019
Number of Races 9
Traded 4, 0 losses, 2 wins. Biggest loss N/A, biggest win £8.37
Daily Total: Plus £15.56
Poor days racing today. Sandown was abandoned which was a real shame. Watched 4 of the afternoon races and had a long break and came back and watched a couple of the evening ones.
Decided to call it a day. Just one poor trade today. It was safe and secure, but I missed the price. It was at about 5.0 – 6.0 when I thought it was safe to enter but I was a millisecond slow and when my bet got taken it was 13.0 which I wouldn’t trade.
Sometimes though the prices move so fast it caught me out.
A win is a win though, so bank fully intact ready for tomorrow.
Number of Races 6
Traded 1, 0 losses, 1 win. Biggest loss N/A, biggest win £2.75
Daily Total: Plus £2.75
It had to happen eventually, but it doesn’t make it any more enjoyable. Took a loss today after a record-breaking run (for me) of 11 consecutive winning days.
It feels really hard to take and that’s probably a good thing as I’d grown far too accustomed to losing with my old method.
You can argue that all losing trades are self-inflicted but this one was doubly so. I layed Royal Trade quite early as it was well back and didn’t look to be travelling very well at all. I got matched on the back bet to make just over £5 profit, but a touch of greed took over. It still wasn’t going well, and the price was still tradeable, so I layed it again.
Unfortunately, under pressure the horse found a second wind and went on to win. That made it tougher to take.
The most difficult thing of the whole day was turning Bet Angel off after my 4th trade of the day. I REALLY wanted to carry on and do a few more races to get the losses down a bit lower!
After I’d turned if off and started to write this blog update, I realised that it was probably the best trading decision I’d made for a long while.
The last 11 days (5 in Feb and 6 in March) has seen me make £176.10 for a £16 per day average. So the £36.48 loss equates to just over 2 days profit.
In the previous two months using my old trading method I had 12 losing days over £50 and some of them really got out of hand. (£285, £223, £177, £104 and £102 to name just five of them).
If I’d turned BA off after the first big loss of those 12 days, I’d have saved myself about £600.
Anyway, onwards and upwards. I will re-set the clock from tomorrow and see if I can go twelve or more days in the green.
Number of Races 10
Traded 4, 1 loss, 3 wins. Biggest loss £48.18, biggest win £6.44
Daily Total: Minus – £36.48
Frustrating day today. One good steady trade to start off in the 2.00 pm, then no tradable races for what seemed like ages. I failed to deal with that test of my patience and traded something I shouldn’t have and got what I deserved.
A couple of races later I got an easy trade for my best one of the day. “If Only”.
If only I could have remained steadfast in my refusal to trade races I shouldn’t.
Number of Races 20
Traded 4, 1 loss, 3 wins. Biggest loss £46.52, biggest win £11.59
Daily Total: Minus – £29.26
After falling off the “no red” wagon over the weekend I was back in the groove today. I had 2 decent trades and one where I cautiously scratched.
Number of Races 10
Traded 3, 0 losses, 2 wins. Biggest loss N/A, biggest win £9.09
Daily Total: Plus £17.77
Stupidly got involved on a 6f AW race and ruined the day in spectacular style.
Number of Races 12
Traded 3, 1 loss, 2 wins. Biggest loss £84.00, biggest win £5.35
Daily Total: Minus – £73.92
Weird day. Did a miss-click which cost me £16, but other than that I had a good day. In all the time I’ve been trading (over 14 months) I must have miss-clicked about 10 times. Only once has it won me money! You’d think I miss-click my way to a profit nearer to a 50% strike rate!
It has been difficult to find much to trade at Cheltenham yesterday and today as the prices are normally quite big but my best trade today was on strong favourite Defi Du Seuil in the 15.30 pm.
It never looked to be going well and if I’d been a bit more confident I could have layed it when it was a lot shorter priced. I’ll take it though.
Number of Races 8
Traded 4, 1 loss, 3 wins. Biggest loss £16.58, biggest win £15.54
Daily Total: Plus £6.86
Tale of two short priced ones today. Layed “A Plus Tard” and it just after I did it started to close up on the leaders, so I traded out for a very small red. It didn’t win and if I’d waited just a few seconds longer I’d have known that but better safe than sorry.
Got a great trade in on “Paisley Park” who apparently often comes off the bridle and then goes back on it again. That made me a bit more cautious, but it not only came off the bridle but wasn’t in a great position being a bit boxed in. So at that point I pulled the trigger.
Because of my rigid tick off settings on my L2B bets I was in and out very quickly and the trade wasn’t in the red at any point.
Number of Races 6
Traded 2, 1 loss, 1 win. Biggest loss £2.07, biggest win £16.96
Daily Total: Plus £14.89
Last day of the Cheltenham Festival and I was ultra-cautious. I didn’t even watch some races as the prices were no good for me. I ended up doing just 2 trades, but they were both decent ones at my stakes/tick offset.
I much prefer jumps races as I’ve been caught out many times with sprint flat races over the last twelve months, but my two trades today were both on the AW at Lingfield.
Both were favourites that were not travelling and were in bad positions on the fence with the 2nd and or 3rd favourites in front of them travelling better. So even though they were both still quite short prices when I layed them, they were very safe trades.
Number of Races 7
Traded 2, 0 losses, 2 wins. Biggest loss N/A, biggest win £14.49
Daily Total: Plus £27.13
Market wise it was a weird day today. A case of “After the Lord Mayors show” with Cheltenham finishing yesterday.
My losing trade was caused because I was a bit slow to enter on an obvious trade. The price had just shot out as I layed it and then the price had a correction and came back down a bit. I still thought it wouldn’t win but I didn’t want to risk a full stake loss.
I opted to back it for the net stake and then when it did eventually drift out, I took a 53p loss rather than risk anything dramatic happening at the last fence.
No decent trades at all today and I wasn’t really feeling it, so I was happy to stop after my 4th trade.
Number of Races 16
Traded 4, 1 loss, 3 wins. Biggest loss 53p, biggest win £6.04
Daily Total: Plus £13.06
Quite a good day. Did a pre-race trade on a horse that was playing up as it was going down to the start and knicked a £1 from it. The main reason for mentioning this is I’m still doing my 4 trades a day challenge and I didn’t want this to count as it was pre-race.
A little annoyed with the last race, as I lost my bottle and took a small red when I probably didn’t need to. Though a small red is better long term than letting a trade run if the reasons for entering aren’t there anymore.
Overall happy with the day.
Number of Races 10
Traded 5, 1 loss, 4 wins. Biggest loss £3.53p, biggest win £8.78
Daily Total: Plus £15.37
Nice steady day today. With my new cautious approach, I often watch a lot of races to get the maximum 4 trades I’m doing each day. However today I did 4 trades on the first 6 races I watched.
All pretty easy and the only thing that didn’t quite go as planned was the last trade I did when I got 4/5ths of my back bet matched before the price started to come back down.
As I spotted the horse moving forward, I quickly traded out for a small green. It went on to win so I’m glad I did.
Number of Races 6
Traded 4, 0 losses, 4 wins. Biggest loss N/A, biggest win £9.06
Daily Total: Plus £22.15
Well the COVID-19 is really taking a grip now, so my trading seems less important today that’s for sure.
This could be the last day I get to trade for a while as all UK racing is to stop from this evening till at least the end of April and I doubt it will be back before September.
Irish racing hasn’t yet been stopped but it almost certainly will be. They are meeting to discuss it tomorrow I believe.
Number of Races 9
Traded 4, 0 losses, 4 wins. Biggest loss N/A, biggest win £10.14
Daily Total: Plus £25.67
After today my monthly profit to date for March is £92.69 so if I have to stop it will be my best ever month having only traded just over half of it.
No trading today but got some great news about Irish Racing carrying on behind closed doors. So, for the time being at least we’ll have a maximum of one race meeting per day in Ireland to trade.
I wrote a blog post about it here and my thoughts on the fact that all the track siders “Face Timers” not being there would level the playing field for us.
With any luck this will keep us ticking over until hopefully this Coronavirus pandemic starts to decline and UK racing can maybe start behind closed doors again.
No trading! Boredom got so bad I actually did some work on a website for somebody!
Irish racing is back! Dundalk’s normal Friday evening meeting was moved to the afternoon the meet the new Irish Racing protocols.
Liquidity seemed much higher than normal for an Irish meeting with over £1 million matched on one of the races I noticed.
Number of Races 4
Traded 3, 0 losses, 3 wins. Biggest loss N/A, biggest win £14.48
Daily Total: Plus £23.79
Total disaster. Layed 2 winners the worst of which was Zero Ten it hit a fence quite badly and I instinctively hit the lay button but with a 1.6 sec delay that’s always a bad idea. You might as well wait till the price settles afterwards, but I didn’t.
So in at a terrible price so when the price settled, I thought I might as well lay it again to at least get some on at a better price.
There was a point not long after that where I could have taken a £3 red. Oh how sweet that would look now. I needed the fav to run like a favourite to save me, but it ran like a drain and eventually fell to seal my fate.
My entire months work up in smoke. Who’d be an In-Running horse trader? Back to square one tomorrow.
Number of Races 4
Traded 4, 2 losses, 2 wins. Biggest loss £120.09, biggest win £8.18
Daily Total: Minus – £159.16
After yesterdays debacle I had something approaching a normal day again today.
Traded 6 races today (I’m only supposed to do 4) but 2 of them were such small wins I didn’t even want to count them towards my day. As it was so relaxed with just the one meeting, I carried on when I would normally have stopped.
Number of Races 6
Traded 6, 0 losses, 6 wins. Biggest loss N/A, biggest win £7.34
Daily Total: Plus £23.70
1st race costs me £58 though I cost it myself in truth. I just hope my mentor doesn’t ring me today because I don’t want to have to explain that loss to him. He spent a long time before racing started today telling me exactly what not to do and I did it on the first race.
I’ve put a green month in jeopardy with sheer stupidity. I shouldn’t have traded the race, but the 2nd looked to be going well and the eventual winner was behind and throwing his head around.
My mentor did say as it was a maiden most of them wouldn’t know what was going on for half the race and they might come good when the penny drops.
That is exactly what happened and with 2 furlongs to go it’s too late to save much of your liability when you realise you’ve made a mistake.
If I’m to be green for the month then I can’t afford anymore red days, I’m currently £42.99 down.
Anyway, clawed a bit back via the other 6 races and finished on a good trade.
Number of Races 7
Traded 7, 1 loss, 6 wins. Biggest loss £57.98, biggest win £14.53
Daily Total: Minus – £24.01
Back to winning ways today. Just the one good trade today and a couple of scrappy races which tbh I wouldn’t have even bothered trading if there were 3 or 4 meetings on.
In these lean times though I’m trying to just eek out what I can.
Number of Races 4
Traded 4, 1 loss, 3 wins. Biggest loss £0.56, biggest win £15.91
Daily Total: Plus £18.72
Well after laughing at Football traders for all piling onto a Tanzanian football match because all the main European leagues have closed, I had a go on the US horse racing this (early) evening. (read my blog post that mentions the Tanzanian game here)
It’s on at quite a sociable time for us going from 16.40 pm through to about 10.00 pm today. Best meeting was Tampa which had over £100,000 matched on all the races I watched. The best one had just over £180,00.
I got one good trade and one where I was a touch UL as I layed it and got 4/5ths of my back bet taken but took a £4 loss on it when it stormed home when it had no right to.
I watched the replay again and it was off the bridle earlier than all the other contenders and it did really well to win from where it was. I wanted to lay it again on the replay.
Two of my trades I was a touch late on and got literally pennies matched as the price went. Even when they have £100k pre and £20k in-play the money disappears very quickly if you’re slow.
On a side issue from the trading I’ve set myself a small poker challenge which you can read about here. That had a decent 1st day with a
Number of Races 4
Traded 4, 1 loss, 3 wins. Biggest loss £4.34, biggest win £7.87
Daily Total: Plus £3.73
Traded a few races at Remington Park (USA) and they started at about 11.15 pm and went on till the wee small hours but I just did 2 before midnight. In neither race did I get my bets matched for anything other than pennies.
Never seen 2-furlong races before but all the races I watched were over 2f’s on the dirt. Blink and you’d miss it but if you can get a short-priced fav who misses the break then you can certainly get a trade out of it.
Sadly I wasn’t quick enough to get any decent trades but if I watched those races all day long I’m sure I’d find some good spots. If they miss the break there really is no making it up, whereas in our 5f sprints I’ve seen horses give 5 lengths start and still win by 5 lengths.
There were 2 reasons why I traded these. Firstly I was up anyway as I was playing online poker, so I watched out of curiosity and secondly as I’m just slightly in the red for the month of March I was hoping to just wipe those losses out.
Number of Races 3
Traded 2, 0 losses, 2 wins. Biggest loss N/A, biggest win £0.19
Daily Total: Plus £0.24
OK so today my figures are made up of the last race I traded at 00.18 am last night at Remington Park, before finally going to bed!
Then I started the morning off trading a couple of Australian races. I did well in the 2 I did considering it wasn’t great liquidity. If I’d known it would be that good I would have got up a bit earlier!
Later in the day I was back on the US racing at Tampa which seemed pretty good to trade.
Number of Races 10
Traded 6, 0 losses, 6 wins. Biggest loss N/A, biggest win £5.57
Daily Total: Plus £17.56
Quite pleased with myself trading races I normally wouldn’t so I posted this on Twitter.
Another day as an international trader though all at Tampa. Very sociable hours to trade during Corona lockdown. 16.20 pm to 18.21 pm.
Nice steady day.
Number of Races 5
Traded 5, 0 losses, 5 wins. Biggest loss N/A, biggest win £8.91
Daily Total: Plus £27.84
After having a couple of good days trading Tampa lately I
was hoping for another good day, but I got just 3 very small trades in and called
it a day. Just wasn’t happening for me today but a green day so that’s always a
I think after scrambling hard to get out of the red I was in earlier in the month I didn’t want to risk a losing day this close to the end of the month.
Number of Races 8
Traded 3, 0 losses, 3 wins. Biggest loss N/A, biggest win £2.55
Daily Total: Plus £4.09
I’d been hovering around break even for a lot of the month and after the near £160 loss on the 21st I’d grafted hard and been very disciplined trying to fight my way back into the green for the month.
Sadly, today I manage to throw the entire month in the crapper with a bad trade.
Too late to turn it around now. If I had a full UK & Irish race day tomorrow with 4 or 5 meetings I could get back into the green for the month, but it is literally impossible now trading normally.
Today’s big loss cost me £82.99 and I was so annoyed with myself that I didn’t watch the replay to see exactly what went wrong. That’s unlike me as I always like to analyse my trades good and bad, so I can’t really give an explanation as to exactly what happened.
When I spotted the danger, the market was too thin to save me. I was so annoyed I just walked away from the computer.
My winning trades were just for pennies
Number of Races 4
Traded 4, 1 loss, 3 wins. Biggest loss £82.99, biggest win £1.57
Daily Total: Minus – £80.39
Positive end to the month. It has been a bit hit and miss trying to trade these US and Aus markets. Most of the US ones which have the Betfair video available are getting around £140k – £180k matched which isn’t bad at all.
Annoyingly though some races I spot a great trade and I get 50p matched. As I’ve found out to my cost when you make an error it all gets matched!
Number of Races 8
Traded 6, 0 losses, 6 wins. Biggest loss N/A, biggest win £7.13
Daily Total: Plus £12.26
Summary and moving forward
At the end of trading on 17th I was £92 in the green so I’m livid with myself for how I traded and some of what I traded, from then till the end of the month.
As annoyed as I am and how badly I feel that I’ve let my mentor down I have some positives to draw from the month.
In March I had only six red days which is the equal lowest number of reds I’ve had in a month. The other month I had six was Dec 2019, but I took eleven days off in December. In March I traded all but two days. (29/31)
Eradicating the reds is the key to my success moving forward. Not winning enough has never been my problem, it’s losing too much on my red days that is the big issue I need to solve. My 6 red days total over £400 so I still must work harder on this aspect.
I spoke to my mentor on the phone yesterday we went back over a few of the bigger losses I had for the month and discussed them. Most of my big losses came from 1 v 1 races. (Very short priced fav versus short priced 2nd fav and the rest are very big prices)
These races are a bit more dangerous to trade because if you lay the one behind that isn’t going so well but something happens to the one in front (Falls/brought down or just starts running in quicksand) then there is no other protection for you.
If there are 3 short priced horses and the one furthest back comes under pressure then you can lay it more confidently knowing that even if the favourite in the lead falls or runs out of gas you still have the other market leader to offer you some protection.
As I need to cut out as many losses as possible, I’m going to look to avoid these 1 v 1 situations in future, unless I’m 100% sure.
Why do I continue to trade if constantly losing?
I tried Pre-Race for nearly four months and was terrible at it and I’ve tried In-Running in one form or another ever since with just one green month.
My average monthly loss since Jan 2019 is quite high and if it wasn’t for poker and matched betting I couldn’t justify continuing with it.
Fortunately for me poker, my other “hobby”, has always been good to me financially and I’ve made an awful lot of money via matched betting.
I’ve been a consistently profitable poker player since 1976 and over the years I’ve had some sizable wins. I keep my poker/matched betting and trading money separate from my “normal” money so that’s how I can justify it.
I don’t see poker, matched betting or trading as gambling. Matched betting is a sure fire winner unless you are a complete moron.
If you’ve never had a online bookmaker account ever and did all the opening offers through a good matched betting service like the one I use (OddsMonkey) then its an easy £600 – £800. Even if you’ve already got 4 or 5 bookie accounts you should make £500 on average.
With poker and trading though people can and do lose lots of money as there is a gambling/luck element to it. (If you feel you have a gambling problem visit Gamble aware here)
But and here is the big thing. If you consistently make good decisions with poker and/or trading then it will bring its rewards over the long term.
I’m living proof of that where poker is concerned even if I’m not yet there with trading.
Long term I’m determined to make trading pay its way and I’m more confident than ever that it will.
My long-term plan is instead of trading 20 races every day trying to make £5 per race, like I used to I want to trade four easy races per day but lump more on them and make £25 per race.
From when racing fully re-starts, with my mentors help I truly believe that within 6 – 12 months I will be doing that.
In the shorter term I see me making consistent £10 daily profits within the next month or two of F/T trading on the UK races.
Sadly, right now I may not even trade more than a few days in April and if America wakes up to the problem there may be zero racing to trade for several months.
I don’t see a resumption of UK racing anytime soon.
The USA doesn’t currently have a national lockdown as each state makes their own laws. Florida (where Tampa Bay Racetrack is) introduces a state-wide “stay at home” order from tomorrow. (Fri 3rd).
I don’t think the Florida Governor has quite grasped the situation as people will still be allowed to attend church etc, so racing hasn’t been stopped yet, but when people start dropping like flies it will happen.
My trading positives
My race reading skills are improving all the time as I get a lot of screen time, and the method I’m trying to implement now suits my naturally cautious style.
So, I know I’m as close as I’ve ever been to finally cracking the trading conundrum.
You should never say never, but I feel the method I’m using now is the last one I’ll be trying for horse race trading.
I’ve watched my mentor’s trading and the guy makes it look simple. Of course it isn’t quite so simple, but it’s not rocket science and I should be capable of mastering it.
I feel it will work for me long term but if it doesn’t then I believe I’ll stop trading races. I think the method I’m trying to use is fantastic and if I can’t make this work, then I’m clearly not good enough to make anything work.
For all of us having racing on hold is annoying but for me I feel it’s doubly so.
Firstly, why couldn’t it have been suspended when I was losing £400 every month!
Secondly, I feel I’m right on the cusp of that tipping point between being a consistent winner or loser.
I’m so looking forward to the resumption of UK racing, because my passion for trading hasn’t dimmed in the 15 months since I started. Sadly, being keen isn’t enough to make you great.
JFK once said: “Efforts and courage are not enough without purpose and direction”.
I believe my mentor is giving me all the tools and pointing me in the right direction. The rest is up to me.