Winning is just 50% of the task…
I want to give you some serious value…
I’ve thought about this post for a little while now. Although I hadn’t got around to publishing it just yet as im fully aware;
It might not be what everyone wants to hear
I think it’s important to be honest though and keep things real. Let me explain.
Losers…
Trading draws many to its door through the extreme wealth it’s brought others. Although the earnings every marvels over and talks about was only ever half the battle.
Avoiding losses is just as important, there are various sayings that knock about although “it’s not about what you earn, but about what you keep that’s important” springs to mind.
By minimizing losses, and looking at them in the correct manner it does several things that actually help profits grow. Like increase trading confidence…
How to deal with losses – Betfair Trading
Trading Betfair isn’t quite like any other job. If approached in the wrong way, it can prove extremely stressful.
In the first year I started to make money I remember getting extremely stressed out if I didn’t make as much as I’d wanted to…
Part of that was also because I desperately wanted to leave my previous job. It took me some time to realise the battle was with myself most of the time.
Once I started to approach things differently, everything changed.
I’ve got no doubt that some will read this and pass it off as unimportant. But in all honesty, it’s one of the biggest turning points I ever faced. Changing my attitude was the icing on the cake.
Of course you can still make money in the markets without looking at things quite like I mention in the video, but in my experience, it won’t be anywhere near the amount you could have made!
Focus on managing risk, reducing losses and viewing those losses as a required ‘expense’ to winning. Also a great book to read that highlights this is ‘Trading in the Zone by Mark Douglas’.
Forget Winning…
Hopefully you’re getting it by now. And I appreciate, it may sound a little odd at first. But, forget winning…
…it’s tough as it’s the reason we’re all here after all. But by only focusing on doing what’s right, instead of the profit you should, could, would have made. Everything gets easier! it really does.
Doing things the other way around is a bit like a professional racing driver focusing on the position they’re in, or could have been instead of crafting the best possible line through the next bend. Hopefully that makes sense…
Another good thing to do is understand your own ‘trading fears’. Everyone’s different, it’s part of being human, but knowing what makes you tick is also a great asset.
Related Article: How To Deal With Trading Fears