Accept Swings Of Fortune And Don’t Get Greedy On Betfair
Can someone really improve their trading performance to become a long-term winner?
The JuiceStorm team built TradeHost for profitable automated trading and betting on Betfair in the UK, IE, AU and US horse racing markets. TradeHost Lite started in 2013 and is free forever.
- Structure, Selection and Stops – The 3 Keys To Successful Trading - November 23, 2024
- The Only Thing You Need to Do To Make Money Trading - November 23, 2024
- Thoughts On Trading - November 23, 2024
Let’s start with a checklist for success. I love lists, don’t you? They just bring order. š
-
- Maintain discipline and detachment.
- Accept swings of fortune.
- Don’t get greedy.
- Be patient.
- Stay calm when trades go against you.
- Don’t overtrade.
- Minimise losses.
If you don’t have tradingĀ discipline and consistent decision making,Ā then the choices and actions that we know (particularly in hindsight) that we “should” be doing will always be lacking,
Your natural instincts drive you to behave in ways thatĀ will not lead to profitable trading.
You need to develop a winning trading brain and the discipline required to achieve success.
Successful full time traders haveĀ the ability to take losses. They are rigorous in following trading plans and execute stringent staking and risk-management rules. They have confidenceĀ and a willingness to admit error and take responsibility for it.
Taking a long-term view of trading, they try to maximise overall gains rather than focus on short-term success. They trade for profits and not for the excitement. Perhaps most of all, the approach that these profitable people take is a professional one.
This is a key difference from the casual, haphazard and unstructured approach taken by the majority of people in the Betfair trading world.
But can someone really improve their trading performance to become a long-term winner?
Probably the most important part of becoming successful and profitable at Betfair tradingĀ is learning to become disciplined. With discipline you are more effective and consistent at making good trading choices.
The best trading decisions in the world are only one step away from failure. One moment of indecision, or wishful thinking, can negate even the best strategy.
Sometimes, too, it can be as simple as committing to the key professional betting disciplines, such as preparation and record keeping. However, the process of developing new behaviour takes time and effort, so your levels of motivation will be a determining factor in how far you progress. The most successful people in Betfair tradingĀ did not get there by accident.
In 2021Ā TradeHost traded 7,937 Betfair UK, IE, US & AU horse racing and greyhound markets.
2022 saw TradeHost become even more profitable with 22,698 Betfair markets traded.
2023 less markets were traded – 17,459 – but a with a similar profit to 2022.
All trades and bets were streamed live on JuiceStorm TV which was was watched by 124,209 traders in 2022.
All results for the 48,094 Betfair markets traded are hereĀ and the charts are here.
TopĀ 100 Comments on JuiceStorm.com
Successful Betfair Traders have the simplest Betfair Trading systems. The difference is their selection process, experience and execution level. Get that difference for yourself with automated trading by TradeHost.
