Does such a course exist?

[Trade_Green]

Good evening,

I believe I'm sure like many others mindset is one of if not the most important element of being a successful trader. I'm just wondering have any fellow members came across or know of mindset, psychology aimed exclusively at sports trading and betting. I'm interested in any of the formats eg

Books
Courses
Mindfulness / meditation

I again like many others would love to get my monkey mind under control and displaying the destructive habits of fomo, going on tilt ( chasing losses) and personally a big one for me, Anxiety and self doubt.


I would greatly appreciate any help, advice or recommendations to the above.



Thanks for reading

[Emtaxx]

learn the maths behind successful trading is a great starting point - money management, risk to reward ratio, stop loss and profit stops etc.

Even if you do manage emotions, you'll still be trading your time off with looking at a screen. Best bet is to create a bot in what you'd like to trade first hand. will remove most of the emotion, allow ur heart to tick a little longer and you'll have free time on ur hands!

Just automate it is my advice

[ShaunWhite]

Just automate it is my advice

Lots of people think automation doesn't require psychology but that's not the case at all. It's just a different set of problems. And not everyone wants an IT job where you don't even watch the sport.

Cracking the psychology is about understanding your own triggers but you need to be tough on yourself, ie wearing two hats, the trainee and the boss. If you say the next time I mess up I have to take 2 days off, or give £100 to charity and stick to it, then there's some sort of incentive to behave yourself. If you just screw up then carry on then you've learnt nothing,

Basically if you can do as you're told to in a proper job, then you should be able to when nobody is watching. It's the classic self-employment discipline.

[Trade_Green]

Thank you both for the replies, especially the charity box to keep one accountable. I like it

[Euler]

A lot of what I learnt is mentioned in this video: -

https://youtu.be/ZlmMKrqFz8g

[Fugazi]

Just automate it is my advice

Lots of people think automation doesn't require psychology but that's not the case at all. It's just a different set of problems. And not everyone wants an IT job where you don't even watch the sport.

Cracking the psychology is about understanding your own triggers but you need to be tough on yourself, ie wearing two hats, the trainee and the boss. If you say the next time I mess up I have to take 2 days off, or give £100 to charity and stick to it, then there's some sort of incentive to behave yourself. If you just screw up then carry on then you've learnt nothing,

Basically if you can do as you're told to in a proper job, then you should be able to when nobody is watching. It's the classic self-employment discipline.

Second this

I've learned over the last 18 months that the way to progress is through coding and backtesting.

When you get home from a full time job, have hobbies / socials to attend, where do you find the energy to start coding on top?

What I've found happens is you end up hashing together automations through trial and error and spend 6 months to find out if it was variance or if your bot really is scraping together a tenner a day

Automation, in the long run, is more flexible. You can work in hours that suit you. But you'll always have to keep updating your bot and finding new edges. And it is very difficult to transition from full time job to BA, especially if it is a job you don't mind. If you're studying / an entry level job it's a bit easier to transition... Eg. If you are working in a bar, you can start working less shifts. Not so easier to just work a bit less in a career with a people contract (NB. Bar work can be a career, but not for most people)

[ShaunWhite]

The less time you have the more planning and organisation you need. Otherwise it all gets chaotic and you jump from one thing to another trying to do everything at once in your limited time. But more time isn't always good either as work expanded to fill the time allocated to it. It's surprising how little you can get done in 8hrs if you know you aren't against the clock.