Trading Betfair has been a real life changer for me, but not in the sense you may expect…
No, I’m not on about the money.
I mean the process of learning I’ve been through on the way; I couldn’t begin to list all the things I’ve learnt.
Many have been more valuable than anything to find in a Betfair market. As you may have gathered, I’m feeling rather philosophical and thought it’d be useful to share a few handy tips…
Changing your habits is probably the number one game-changer, that’s it.
Most of the time (in the past) I have found I do things that are productive occasionally. I knew they were good for me and my situation, I knew they would benefit me, although I always put them off? I don’t know quite why it was, but I used to do it all the time. When I’ve spoken to others about this it seems im not alone either. Do you?
It’s quite logical to say you can’t get different results from doing the same thing, so why humans do it so much I don’t really know. But realising it is the first step, swiftly followed by some kind of structure or daily routine is the next.
Making a list of 3 things I was going to do differently, every day was the best way of doing this I found.
After you’ve done them for so long they become second nature, you then may want to make a new list. Keeping it short to just 3 was key for me as the urge was to write a huge list of things I knew would improve my situation, but in reality… If it was much longer than 3 I’d never do them!
Here’s 3 I’ve used previously as an example;
- Learn something new every day – It doesn’t matter what, but learn something new. It doesn’t have to be directly goal orientated, it may just be something of interest for now but the chances are it’ll be more than just an interest at some point in life. It’s natural to learn, kids are always doing it. An observation I’ve made as well is that; those around me that are often moaning and making no progress aren’t interested in learning anything. You know the types, they’re usually blaming foreigners for taking everyone’s job or saying how their situation is because of some political decision.While some of that kind of stuff can hold some truth, the point is it’s not a healthy habit, and is extremely self-limiting.
- Call people by their name, show an interest in what they have to say – At first when I read this I thought ‘what a load of shite’ and so I tried it, give it a go… it’s quite surprising how just by remembering someone’s name, and showing a genuine interest in what they have to say results in them doing a hell of a lot for you, often without you even asking. It’s a bit like that cliché line; “give others enough of what they want, and they’ll give you everything you want”
- Do something physical every day – For many this is a right chore, especially if you don’t like exercise. But it’s one of the fastest and healthiest ways I know of keeping myself operating at 100%. Sure you could down a can of Monster every time you wanted to keep motivated instead, but keeping active gives me the natural high I need all the time. It seems to stop me feeling lethargic and getting up late in the morning too!
It’s always going to be a tricky one. Unless you’re willing to start ruthlessly cutting ties with those around you (not advisable!). But the company I’ve kept in the past has done me no good whatsoever, but of course I can say that now as I don’t any more! Hindsight’s a great thing…
Everyone has a different mixture of friends and family. Some highly strung and positive, others the complete opposite. Not so long ago I was having a chat with another Betfair trader-to-be and they said something interesting. It’s a really good way of dealing with those that just aren’t on the wavelength you want to position yourself;
Just consider there are 3 levels everyone operates at when communicating. Something like the this –
- Casual chit-chat – Just about everyone operates here some time or another. Conversation that is quite pleasant but doesn’t always mean a lot… Eastenders type conversation, the last starwars cat video you see or maybe what you’re having for dinner later.
- Thought provoking conversation – It’s in the middle, interesting stuff. It doesn’t necessarily have to give you a headache, but it’s a bit more important to you. Like trading Betfair maybe or if you have a business the direction you’re thinking about taking it.
- Heavy duty stuff – We’re into the realms that not everyone is comfortable (me included at times). Quantum physics, algebra, the meaning of life, how the universe was created… you get the point.
Everyone’s level of perception is going to be different. It doesn’t matter what you perceive as a 1, 2 or 3 to be honest, just that you realise it exists and where you fit into it.
This way, if like me you consider yourself a level 2 kinda guy (in general) and you have a friend of family member that is clearly a level 1 operator (I mean all the time), just bear in mind that a level 2 conversation with them is likely to end up in you feeling rather deflated and flat. And for Christ sake, don’t try to have a level 3 conversation with them!
It took me a while to get used to this, but it’s productive for you, in the sense that you don’t end up doubting yourself, your goals and the things you’re trying to achieve – Betfair trading being one of them. So many just don’t get it… give up trying to explain it to them!
I guess what im trying to say is; you don’t need to change the company you keep all the time, just the way you talk to them. Get that right and you’ll continue to progress unhindered.
Wholeheartedly believe in yourself, even before you’ve achieved something. This can apply to a lot, not just Betfair trading.
By doing this, you’ve put yourself in the very best position to actually achieve it. Thinking it’s possible, but im not sure if I’ll manage it is the fast track to not getting what you want, or taking a hell of a long time in my experience.
To give an example;
You’re trading the 2pm at Lingfield. You’ve got an open position on the favourite and are currently 5 ticks in profit, totalling £15 profit… everything seems to be going your way
If you believe you can’t make more than £15 in a race, what do you do? alternatively;
If you believe you can make more than £15 in a race, what do you do?
It’s much like Roger Bannister breaking the 4 minute mile barrier. Before May the 6th, 1954 everyone thought it was impossible. He did it, the following year (once everyone knew it was possible, and proceeded to try) many others did also… you have to know what you want, and believe you can do it before you do.
Not being certain results in inheriting beliefs of those around you (possibly the level 1’s), which isn’t you, or good for you.
Here’s a clip I recorded over a year ago –