[Discipline] Nobody Likes It, Everyone Needs It….

This week, I’ve had conversations with several individuals who are quite successful, yet they stand on the brink of achieving even greater milestones. From my perspective, they seem closer to a significant breakthrough, whether they realize it or not. The common challenge they face, which I also struggled with this week, is maintaining discipline.

I’ve recently posted about ‘Back to Lay’ strategies, generating a lot of interest with everyone asking the same question:

How do you manage such an effective strike rate?

The answer is straightforward.

I’m not a tipster, but when I post three ‘possible’ back to lay selections, it doesn’t imply there were only three potential front-runners that day. Initially, there might have been ten. Out of those, I might only choose to back one to lead. Even if all three eventually take the lead with a substantial gap, I remain content. It’s all about exercising discipline.

A common pitfall is the feeling of having ‘missed out,’ which is an emotional response that can disrupt disciplined trading. This feeling often leads to making ‘maybe trades’ the next time around.

Discipline means steering clear of uncertain trades, whether they’re ante-post, pre-race, or in-play.

Many traders come from a gambling background, which might make it challenging for them to adapt. There’s a common misconception about employing the same strategy in every race and expecting consistent results. However, trading doesn’t always work like that.

It’s easy for me to discuss this now, but consider this scenario each time you face such a decision: Would you rather have five successful trades a day, earning £10 per trade, or mix five good trades with five uncertain ones, where you might make £10 in two but lose £10 in three?

Not only would you end up £10 poorer in the latter scenario, but you’d also have wasted time, endured unnecessary stress, and potentially damaged your trading confidence.

It’s crucial to think beyond just the financial outcomes. Often, the worst consequence of a bad trading day is the self-doubt it instils.

Understanding your own thoughts and emotions outside of the market is key to your success. I plan to delve deeper into this topic in an upcoming YouTube video, so stay tuned for that!

Related Article: Top 4 Trading Fears – How to Deal With Them…

3 thoughts on “[Discipline] Nobody Likes It, Everyone Needs It….

  1. Another good post. I fell foul of that lack of discipline this weekend. My trading has been going on steady making small steps forward. I traded a race at Haydock and straight away got myself into trouble and had a disastrous trade. Foolishly, the next race was at Chester (which I know well) and I thought “no problem I’ll get it back here”. I lost again and the only thing I can attach blame to is myself for chasing a loss and lacking discipline. I should have got up and had a little break and calmed down. Keep the posts coming Caan they are useful and help to make me feel I’m not alone in trading cock ups.

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