Crazy results: Tunnel vision trading the horse racing markets

Posted on Posted in Betfair, Horse Racing

Do You Do This?

This week I seem to have gone full-circle once more… *frustration*

If you drop your guard even for a short time trading the markets you’re bound to get tripped up! In fact it’s exactly what makes it so hard to grasp for beginners in my opinion…

It’s so easy to have a few bad results and feel pretty bad about things when actually all that’s needed is a few small changes as, your general outlook on the markets wasn’t that bad at all.

Recent Problems…

This week I’ve had a few problems ‘outside’ of the markets to deal with resulting in a lot of stress. It doesn’t take all that long at all for it to creep into your game as any full-timer would tell you I’m sure.
Many that are getting into trading Betfair and learning their way around the markets often find themselves in this position one time or another. How you deal with it is extremely important and, can quite literally be the difference between longer term success and failure.

You don’t often see people posting up when they’ve had a hard time of things but I think its pretty important to keep things realistic, it happens to all of us at some point or another.

Earlier in the week I had a crazy day trading the markets. My attitude was bad, I was stressed out and my mind in other places. I should have had the day off but despite all this I carried on! First mistake… however the end result wasn’t that bad but it was a real roller-coaster of a day just making it to the end as you can see from some of the results below!!

So with that in mind I specifically targeted today as a smooth day. With all the outside stress and influences shut out I started to plug away on slightly reduced stakes to usual (lowering stakes and expectations really can help consistency). By about an hour in I was shocked to see I hadn’t even dropped a profit on a race, to me this is an indicator I could have made more from some of these races but to be honest having a stress free afternoon was priority!

A couple of hours later, it wasn’t the biggest result but still… fair enough and the weather outside is great! I can hear the beer garden calling…

Tunnel Vision!

You’re probably wondering what the ‘tunnel vision’ bits all about by now, let me explain how it all ties in with this…

Earlier in the week when I had my roller-coaster day I noticed something towards the end which, I have noticed before and if you’ve read back through the blog was something I used to go on about maybe two years ago.

When we become emotional in any way – stressed, upset, angry, frustrated, fearful etc. It seems to me as part of a natural defence mechanism maybe we tend to start developing this ‘tunnel vision’ where by we end up fixated on what we are doing. When we are in the markets its very important to bear in mind lots of different influences as Guide readers will know, and you can’t be looking and re-assessing everything continuously if you’re staring transfixed at the ladder of one runner between several ticks.

This is exactly what I used to do and just about everyone who attempts to trade the markets starts off doing! The end result being you missed the important bit of info on a different runner or the market overview meaning you didn’t exit when you should have or even worse didn’t let that profit run further! This seems to be even worse while you actually have a trade open, probably because of the fear factor of losing some money. This in my opinion is why using stakes your comfortable with is actually quite important as well as not having too higher expectations, the great thing being once you start to get going and build confidence the results just flow in any way… a little like they did for me today.

So if you can make sure you know what you’re looking at, lower stakes to a level your comfortable with and do your best to force yourself to look at the bigger picture even if its hard. Even more-so when you have a trade open in the market!!

Also just as a reminder the ‘green book’ competition Betfair are hosting is now underway. Upload your green books to twitter with the #betfairtraders to be in with a chance each week of winning some cash, a guide and a video pack.

7 thoughts on “Crazy results: Tunnel vision trading the horse racing markets

  1. great post caan.
    ive got the guide and the video pack mate but still cant get it,maybe it is head not in the right place etc?

    1. Quite possibly greg… you can see the wild difference in results there for myself just with a different temprament. Almost like two different people! …Lowering stakes made me feel a lot better today too. I think the different days of the week make it harder at times too, Mondays this time of year can be a bit trappy. Saturdays are always that bit more stable though and more ideal for a scalper.

  2. Hey Caan i can resonate with you there completely, yesterday i had a terrible day in work, came home and argued with the missus, i knew right then i shouldn’t have traded but carried on, lost the first 3 and tilted, gambled on a couple and my head was all over the place, and i genuinely believed i’d lost my edge. Goes back to the psychology you keep banging on about, and recognising when these moments occur. Today i was calm and relaxed and managed my best profit to date!

    The trading guide and videos have helped me no end and have given me an insight that would have taken me another 6 months and a couple of lost banks to get! The guides spot on, but to see how its applied with the videos put things into perspective for me, so cheers mate.

    1. Thanks for the kind words Darren 🙂 ….. it really is the difference if you’re in the right state of mind no doubt. Well done on the best profit too!

  3. Great post Caan. Important to keep things realistic.

    I too have bought the video pack. I practiced a little bit today. Started well then all went a little crazy. So easy to lose sight.

    Thanks.

  4. great post mate. i got the guide a few months back and it feels like it has jumped me forward a few months in my learning. havent quite got the hang of the mentality yet but there is hope. keep posting

    cheers

  5. Hi Caan,

    This is one of your best posts to date. I am so guilty of this tunnel vision, I get transfixed on the ladder I’m trading, and frightened to take my eyes off it. I can understand how lowering the stakes can help, but I’ve got to get over another problem I’m having which is increasing the stakes as I trade during one race. Time to take it back to basics and make good use of the excellent guide and video pack.

    Thanks

    Dan

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