Everybody on Betfair loses trades, hey even Man City loses a few games on their way to winning the league. It's the same on Betfair and with your trades.Â
The key between the good Betfair traders and the bad ones isn't how they trade their trades, it's what they do around them that's key.Â
Do you know it takes over 800 hours to get profitable on Betfair?Â
How do I know this? I've worked with hundreds of tradersÂ
There are many reasons why it takes 800 hours and 1 of them is….Â
People giving up because of a few losing tradesÂ
The crippling self-doubt kicks in - everybody who said this would never work is right?Â
That’s where your brain goes and during this time you are not in a logical space to be able to make any decisions.Â
What you need to do is take a break and get your mind off the trade. Go for a walk, get a beer, play with the kids, just do something to help you relax.
BAM! You’ve got to snap out of that, look objectively at it?
Why are you thinking about giving up because you lost a few trades?Â
Well, maybe you staked too high? The problem is many people stake too high on their trades and when they make a few losing trades it makes a great dent in their confidence and bank.
Maybe you blurred the lines between trades? You don’t have a method of trading and it becomes more like you are trading on the go.Â
Maybe you didn’t follow a set strategy? Without a set strategy, you end up having multiple strategies you are trying. You clearly don’t have a set system and it's more of a hit-and-miss strategy.
Losing a few trades is inevitable…. Do you know how many games Man City lost this season? 5Â
Are they still champions? They got the ultimate prize.
For you, the ultimate prize is to become a profitable trader. Yes, you can afford to lose a few games and you’ll still be alright.Â
It's about the longer-term game, so all this is well and good but how can you put it into practice?Â
Here is an action plan I want you to get for the next 3 months
Step 1 - Select a date 3 months from now to review itÂ
Step 2 - Pick one strategy to focus on- one game one strategy and give it everything
Step 3 - have a repeatable way of collecting the information before the tradeÂ
Step 4 - Review your data post-match- what happened in the game Â
Step 5 - Review the data at the 3-month markÂ
I know most of you.. well, 99% of you won't do this, but if you just did this for a month…. You’d move your trading for 700 hours!Â
Watch this youtube video https://youtu.be/sflwX1CVQMg that offers more insights into why you should not give up as well as get some freebies that will help your strategy.
ThanksÂ
Ryan
www.Betfairtradingcommunity.com