Certainty *Ouch*

Know the feeling? We’ve all been there one time or another, haven’t we?

Well, maybe we haven’t felt the pain of that image, but we’ve certainly felt the pain in the markets!

Similar to the pain that overconfidence can bring, it’s just as dangerous as trading fearfully, if not worse.

This week, I’ve been focusing on keeping well away from this sort of situation. In fact, I’ve even eased off a little instead of pushing on for bigger and better profits.

It’s a funny old game having been doing this for some time now. No matter what stage of progression you’re at within the markets, there is always plenty of room to screw yourself over. Sacrificing a little potential profit for less stress isn’t always a bad idea. I’m sure it’s where ‘burning out’ starts, as other Betfair traders seem to have before me.

The key to long-term success, in my mind, lies within each one of us. Obviously, it’s really quite important to have a sound understanding of how the markets function and the most favourable points to get involved. But having a sound state of mind and approach is probably more important than anything!

### Recent Changes…

Recently, I’ve had a lot of changes going on outside my immediate trading environment that have been pretty important. Without a doubt, I’ve seen a difference in productivity, the most noticeable being since all that has passed over. With the seasons changing, it’s probably been the best time for that to happen, to be honest! October isn’t often the best month for markets to trade. So for the time being, I’ll just ride it out, keeping the ‘powder dry’ as much as possible.

It won’t be all that long before the King George is focused on by the media. This year, I’ve got my eldest son for the first time, so I’m not sure what I’ll do yet. Having the time off completely seems favourable at the moment, although just switching on for the big ones could be a possibility.

Going back to the post title, I was thinking about just how dangerous a situation this can be psychologically when trading. It’s often quite exciting when you see an opportunity in the market and think ‘this is only going one way.’ They do happen from time to time, but it’s really quite important to keep composure and stick to sensible staking. In my previous experiences, it’s often where the most gruesome losses come from, because you overlooked something. That said, when you’re right, it’s nice to have a decent payout!

It’s important to remember, though, that the most positive mindset for trading is to look at it longer term and do what’s right rather than what excites you.

I remember not so long ago when Betfair came to visit me (you may have seen the clips they produced). One of the questions they asked was, ‘What’s your most exciting trading memory?’

Although I have several, I did think at the time that it’s the wrong way to be looking at things!

Being ‘excited’ isn’t all that consistent, particularly when money is on the line. It just heightens your emotions in the moment, meaning you’re more likely to get an itchy trigger-finger when you shouldn’t!

The best (and least stressful) profits come from consistency. Trading becomes a lot easier once you realise…

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