£100,000 a Year. No Boss. Better Living? Why Trade Betting Odds?

Posted on Posted in Betfair, Psychology

Money alone isn’t a great goal. It’s unhealthy, and endless. Having a bigger reason is far more important…

It might seem cliche, but when you look at the most successful – money was rarely the end-goal. Having a bigger reason is actually quite important. Knowing exactly what it is helps you get the most from it too.

Why Trade Betfair?

When I first started out, trading was a mixture of things for me. Something new, a potential escape from a situation I’d had enough of. Opportunity to earn far more without years of certificate chasing, comfortable living and even proving the doubters wrong…. the list is endless.

As time has passed I’ve come to realise what really matters for me. Knowing what they are is crucial to achieving what I want…

Here’s my point; money isn’t enough. I don’t subscribe to that ‘its the route of all evil’ rubbish, but it’s simply not a driving force for anyone. It’s simply a vehicle for all the things that many do want, choices mainly.

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Finding what gets you going is a start for sure. But enjoying what you’re doing’s quite important too…

How Does Knowing Help?

Understanding yourself, much like mindset while trading allows you to get more. It also helps when you stray off-course.

Motivation was a massive issue for me not long after I went full-time. For a while it was new, everything was great with more money to spend and additional time to do so. But after a while I went through a phase of sleeping in later and doing less work. Sounds ideal at first doesn’t it? Not really.

What do you do when there’s no boss to answer to? Or when the young lady starts to dish out extra jobs to do at home? It’s not all sunshine and rainbows trust me!

Having an under-lying reason, motivator or end-goal that you’re fully aware of is the best way to asses the situation. It stops the Mrs and kids from branding you lazy too, haha. But seriously, if it’s the kids, giving them a better future, upgrading home or just a few extra beers each week. Remind yourself of it each time you sit down to ‘work’ if you can call it that and use it as a driving force to achieve. It’s surprising how these things will give you that extra bit of energy to progress when the markets seem tough, certainly made a difference for me!

What’s Your Reason?

Not so long ago I asked this question on twitter (you can follow me here). The response surprised me a little, maybe it shouldn’t have:

Reason for Trading

I was surprised a few more people didn’t vote ‘I love sport’. That’s usually the envious lines I hear from people once I tell them what I do for work… Maybe it’s not as socially acceptable to say because I want better living or something.

What motivates you? How can you get the best out of trading? Or is it something else you’d be better doing?

Let us know in the comments below…

Related: 1st Ever Blog Post – £28,000 Per Year Challenge

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