One Thing EVERYONE Over-Pays For…

Posted on Posted in Betfair, Rewards

mehol

You can’t grow more, receive it as a gift, ask for more or even buy it. And it’s the one thing that affects everything, literally.

Some don’t see it’s importance, others do but don’t give it the respect it deserves. When you do, everything improves.

Both inside and out of the markets. I’m talking of course about time…

Inside the Markets…

I’ve spoken about the influences of trading time-frames in the past, particularly the live-shows. But I’m talking on a broader scale right now.

People are often impatient when it comes to placing trades, or on the other end of the spectrum, greedy. The influence of human emotion (which is completely normal) can offer edges within the market. For a disciplined trader it’s ideal, even though the reality is you might just be taking cash off someone else who was impatient or too greedy…

As Warren Buffet once said; “the stock market is a device for transferring money from the impatient to the patient”. Betfair trading isn’t any different.

Seeing the value of time within the markets is a pretty big deal. Using the same methods over different time frames is likely to produce massively varied results. This simple image amused me when I was looking for possible images to head the post, mainly because it’s so true!

greed betfair trading

Subscribe to the YouTube Channel Here

Outside the Markets…

I’ve board other to the teeth talking about this kind of thing so maybe it’s more appropriate here. Since becoming involved in the markets I see so many things differently now, supply, demand, time and impatience is everywhere. The main benefit in the markets being we have the ability to execute our trades pretty fast when needs be and with little ‘hassle’.

Just this week I was booking myself an airline ticket for an upcoming event. With the two breaks away this month I’ve been a little lazy on the organisation front, the end result meaning I didn’t get around to booking the ticket until a couple of days ago. Although I had looked it up previously. Seats on the plane were limited when it come to booking time… as you’d imagine; supply was down and demand still remained, while time was running out. As you may have already guessed, I had to over-pay… when it comes to time people do it every day.

In this case it was my laziness that caught me out rather than impatience but it exists everywhere. The key, much like trading is to buy and sell everything at the right time! Sometimes easier said than done. That said, if you can get in at the right point there’s always more margin for error later.

Things that Matter…

While it’s a good idea to be frugal with your cash and time there are some things that hold more value than anything. Just this last month I’ve spent more time with family than previously, which has been more rewarding than anything. Don’t forget that, it’s a different kind of wealth…

Taking time out from the markets is always good too when you can afford to (preferably not in peak periods obviously). I find the return to the screens brings a refreshed approach, which is often quite important when you do this on a daily basis.

I’d be interested to hear what readers think about work/life balance. I was going to run a Poll but thought it’d be more interesting to hear your opinion.

What sort of ratio is best when it comes to work/holiday/family time?, please take a minute to drop your thoughts in the comments below!

 

 

Related Article: Simple Horse Racing Trading Ideas

12 thoughts on “One Thing EVERYONE Over-Pays For…

  1. Hi Caan

    Great post as usual. The image half way down is about right for me when it comes to being impatient.

    I’d love to have 50/50 work-life balance myself. Lots of money is always good but as you kind of said other things are just as important.

    Cheers

    Mike

      1. Caan, trust me, you will never get bored even if you work life balance is 90-10 in favour of living! There are not enough hours in the day to exercise, socialise, read books, learn new things etc etc. Boredom just shows a lack of imagination and I find that I still run out of time each day and my balance is less than 50% working. However, I am an old man and retirement is knocking at the door!!!!!!

  2. Hi Caan first post ever. I am learning how to trade of all the sites I come across I think more patience means more money means more family life. Having very little money is trying my patience because I am trying for a better family life but find the trading tough to get ahead because of the patience issue.love your you tube vids please keep they are a great help.

  3. Hi Caan,

    Re time, I think age is also a contributory factor. I am much different now at 50 to what I was at 30 and desire for money is so much less than is the desire to have have free time. Of course we all need to eat and pay the bills, however when that is covered each month, which it always is, I max out the time that I spend doing things away from a screen. Of course I could earn more than what I do if I was more devoted to being sat at a screen, however greed / money is not my raison d’etre and I would never now sacrifice social / family time for an evening meeting at Thirsk!!!

    I think that as the years pass, presuming that you are still doing the trading, you too will reach a point where time becomes the overriding factor, as life looks a lot shorter at 50 than it did at 30 !!

    It must be said that your current work / life balance is better than most at your age, as you have every morning off and really only have to be at the screen maybe 3 hours a day to make a good living? A lot of 9-5ers would be quite happy to have that lifestyle and that free time available to them. On that note I am off to tend to my garden !!!

    Cheers
    Steve

  4. Hey Caan, I completely agree with what Steve has said there above. Make the most of the time, it soon runs out. But you probably already realize this. I sense you are quite self aware. This is probably what also makes you so successful, in my opinion.

    Paul

  5. Well, I certainly don’t get in with the ‘work life balance’ thing at all. For me it’s ear now, okay later. I have no kids so can and do work 10 hour days 6 days a week more common between 45 and 50 hours. If I had little ones I would give more Ho family. Big right now – full on most days.

  6. H i Caan,

    I’m 27 now and I’m trading full mode. Not yet making money to live life like a king, but studyin’ and trading like one till I got there.

    * 90% trading.
    * 10% others.

    No time for rest xD.

    Regards,
    PJ Pires

  7. As far as I am concerned, I only realized by 30 that I can burn myself early. Work-Rest balance is of vital importance no doubt about it.

Leave a Reply

Your email address will not be published. Required fields are marked *