Almost 10 years ago I first found Betfair trading, it just doesn’t seem possible.
Looking back, although I was 100% dedicated to the task in hand, I didn’t think I would succeed or end up where I have. It’s extremely humbling. However, I’ve recently found myself lacking motivation…
Contemplation & Mortality?
They say a mid-life crisis is when you begin to realise your morality, buy a sports car, drink too much, holiday too much or make impulsive decisions.
If that’s really the case I’ve probably had a few already!
Joking aside, recently I’ve spent a lot of time contemplating the next move. I love trading, the analysis, understanding market motivations and well, making a heap of money. But recently I’ve found the flashing numbers don’t get me excited like they once did…
Sorry, I can almost hear readers muttering ‘dickhead’ under their breath right now as they strive to become profitable.
But I think it’s important to keep things real – success can be quite de-motivating.
Right now I’m not sure what the next move is. I could set some ludicrous goals like make £100,000,000 or get a Lamborghini, but I already know from previous experience they’ll be wholly unsatisfying once achieved.
The best rewards to me are things like; traveling 5 minutes to work, no mortgage, having the freedom to do what you like and extra time with the kids. But once you’ve ticked all those off, what’s next?!
Your View?
I’m sure I’ve opened myself up to some abuse here, but what would be the next thing to do on your list and why?
Recommended: Horse Racing Trading Strategies that Work!
25 thoughts on “Mid-Life Crisis?”
You are literally living the dream Caan. My goal is to become profitable enough to pay for an annual holiday for the family, following that my next is to pay off my mortgage. It’s a big goal but no point dreaming small.
I have a mate who has been a Man City season ticket holder since birth and I could liken your lack of excitement to him telling me recently he didn’t like the Champions League nights as he finds the group stage boring. I politely reminded him that city were shite in living memory and surely a Tuesday in Europe is preferable to a Tuesday in Gillingham!
Remind yourself of your life before trading and appreciate the hard work you have put in that enables you to live the life you have now.
You’re entirely right, there’s something about experiencing things and pushing ahead which is quite de-sensitising.
Thanks for taking time to comment 🙂
Crack something else maybe? Run a marathon? Take up a martial art? Learn a foreign language? Or trading related have a look at the financial markets,
Maybe, not certain at the moment as most of these things don’t appeal enough. I need something that I’ll be properly focused on and want to achieve…
With the time and freedom you have I would get some goals that are not work related like charity or losing weight (age isn’t kind and I have slipped).
Hats off to you with the honest write up, it’s refreshingly genuine!
You might be right on this one, charity is interesting although I don’t think I’m quite at the philanthropy stage just yet. Losing weight looks like the most likely thing although I’m not too sure, I defo need to get back into the running.
You can never tick off time with your family and especially your children, you can buy them every game or present in the world but all they want is your time/attention.
Sound advice, Mike. I had a little extra time with my youngest recently and find as I get older these things become more and more valuable.
Hello Cann, huge fan of your work, I believe you should try to add more value to your Daly activities, try to move to stock markets or something that gives you that hipe to wake up in the morning. Most of the guys don’t understand the concept of trading they just came here and want the millions but that is not the point. I am sure that you know most of the secrets of this work, and once you found them is all mechanical. In the long run, you will get demotivated. And I just want you to relax because this can lead to depression. And collapse. So please relax and énjoy.
I have a project that can be interesting.
Send me a message I will be glad to chat more deeply about my ideas if you like it.
Cheers and keep up
Hi Flash, yes Ive often thought about the other types of trading and even looked, but I’m not sure I’d be interested enough to put in the required effort. I would assume there is a lot of skimming in forex markets and the like related to time and automation… mostly a speed game.
I trade based on your advice and have bought your book and watch all the You Tube videos. I was made redundant last year and got into trading via that. I’m still on pence and see no way I can make it work, and I’m not stupid, but I’m 55, retired, mortgage free on two houses, and the one thing I have learned is that nothing will ever make you happy. I have done the Maldives and all of the nice stuff. Pet’s and friends and love ones still die, people are pain in the arse at times. Simple is good. It’s all that matters. You can chase goal after goal. It doesn’t mean a thing. What do you want to do? If you can just do it there is no happiness there. The trick, I think, is to mow your own lawn, and know you did a good job of it. That is happiness, but if you ask me I hate mowing the lawn….
#1 comment so far, Alan. You are entirely right, the Maldives and all that stuff are really nice but it’s just another materialistic type thing…
You sound very wise, I shall ponder your advice certainly – although I hate the lawn too.
Love the “travel 5 minute to work” thing. I’m like that with my current 9-to-5. Means I have the option to drive, take the motorbike or cycle. Now if only I could clear the mortgage……..
The mortgage is another big one. I never truly valued the 5-minute drive until I’d been doing it a while and considered a longer journey… all of a sudden it struck me how cool that was.
I am only allowed to see one of my twin girls so my ambition is to be able to take them both on a lovely holiday to show them how much I love them
You have no idea how upsetting that is to read, Gary. I have no idea why but I hope you get to see both of your children and take them on holiday in the near future. Keep trying and they’ll thank/remember you for it in the future. If there’s one thing I learnt, being persistent and disciplined when you want something makes all the difference.
The boxer Tyson Fury gave the BBC an interview recently. I never thought I’d take much notice of anything Tyson Fury said, but I thought he spoke really well. He said, “I have found true happiness within myself. I used to search for it; everything I ever did in my life I was always searching and expecting more, whether it be a wife, kids, championships – I was always expecting more and thinking ‘is this it?’
But I have really found out that happiness doesn’t come from achievements or assets. It comes from within, with contentment of who you are.
I can’t be happier. If I had another 10 zeros on my bank balance it couldn’t make me happier. I can only wear these shoes and sleep in one bed. You can only drive one car – if it’s a Rolls Royce or piece of rubbish, they all do the same thing.”
“”Nothing will bring me down ever again. I used to worry about stuff years ago. Now I will never worry about things I have no control of.”
He goes on to say that on a day-to-day basis he just does the things he enjoys doing, like training. And he contributes to helping the homeless & addicted.
A profound quote there, Matt. It’s so true isn’t it… materialistic things are just that. Sometimes it takes all the slogging and money to realise how unimportant they actually are.
Hi Caan.
I was in your position a few years ago. Not doing the same thing as yourself though.
I decided that enough was enough for a while. I looked at the things around me and thought of the value side of things, like family and friends. Which was worth more to me?
My solution was to take a long 3 month break. That may sound like a drastic measure, and it many ways it was/is., but it worked for me. After a couple of months I was eager to get back into the swing of things, but I resisted the temptation. My time spent away was well worth it as I was able to realise that a balance had to be found between everyday work and some stimulation that is new. Walking/running is great stimulation, it takes your mind half away from the work side of things. You are concentration on what you are doing. Maybe even learn some kind of therapy. I learned Reiki and found it a great help.
We all tend to take things for granted at times and get totally fed up with everyday life. Now when I get a little down I tend to write down the pro’s and con’s of the way I live. The pro’s nearly always outweigh the cons.
Meanwhile, don’t think too hard on what you want to do next, one day it will smack you in the face and then you will know.
From reading your blog and the way you write, you have the time and many excellent traits that could be passed on to others who are less fortunate (nothing to do with trading though).
As has been commented. You “could” be on the road to some kind of mild depression, so be wary.
I sincerely hope that you find what you seek.
Thanks for the comment, I have thought about having a break, although not so long… advice taken on board. Seems very wise.
I’d watch a YouTube series or the like of you travelling Europe or the world “Louie Theroux style” where you meet pro gamblers, part time gamblers, problem gamblers, the bookies (all levels) and the regulators. Think it’d be fascinating as the person doing the show would be able to relate to the subject and the people may be more open to “one of them” asking the questions rather than a reporter/journalist. I bet with your track record for the industry and also a people facing role you’d be a great fit
Hi Caan,
I’ve been following you for a while now and must say the content you make available for the rest of us is nothing short of excellent.
I’ve dipped in and out of the market for some time now and looking to take the course to enhance my knowledge of the horse racing market.
I had a relatively profitable back to lay strategy, taking advantage of disparity between bookmakers opening prices and also taking early morning tipster odds and laying after the the imminent price collapse. Ultimately, this was only ever going to end one way! Now, with limited opportunity to get bets off via the bookies I’m needing to change my focus and become more successful at the exchange (usual story). I’m doing some technical analysis work to help to.
Whilst familiar with some of the trading platforms, I’m needing to select one. One question I have is whether you are aware of any software which will enable me to act quickly upon quick price movements in the market? I’m talking generally – Is there a system that can send me an immediate notification on a movement between a particular time of day (say I set a rule of 9am and 10am, if a price falls say 5%+ on a horse?). I didnt know whether this might be something covered off in the course?
Hi Shaun, not anything that is very accurate as I understand it.
Was made redundant in 2016 which gave me the opportunity to lay on Betfair properly and within limits to just add to my pension and savings which I was able to take . Now I volunteer for heroes on the water , taking out veterans kayak angling . Keeps everything “real”
Haven’t heard of this charity, will have a peek. Only problem being – kayaking isn’t really my thing! Hats off to you though…