Loss chasing is the biggest mistake that your mind should block out, stick to your plan, the loss will be back quicker than you know it Good Luck everyone
Losses and Mistakes overcomming them
I was reading the recent thread of Rhysmr2 re the mistakes and blowing of bank. All of us have done this at one point or another. But my question is I have noticed that a lot of us get the emotional hurt when we do. But in reality we shouldn’t for the loss but for the mistake maybe granted. When you deposit any money into betfair, you have to program your mind like you have bought goods. That money has gone the minute you click that deposit button, in return for your purchase you get to press a couple of buttons etc to possibly get it back with more. As traders what you have to do is train your mind that that money is not coming back unless I maintain my rules of trading. When you employ that mindset the emotions about mistakes is reduced. The other thing is the deposit must be one you will not miss if the worst happens. If you have built your bank over a number of months and have withdrawn your initial deposit the emotions of mistakes gets easier , hardly non existent as you are playing with betfair profits. We will all make mistakes why because we are human.
Loss chasing is the biggest mistake that your mind should block out, stick to your plan, the loss will be back quicker than you know it Good Luck everyone
Loss chasing is the biggest mistake that your mind should block out, stick to your plan, the loss will be back quicker than you know it Good Luck everyone
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CaerMyrddin
- Posts: 1271
- Joined: Mon Sep 07, 2009 10:47 am
Lost yesterday due to a stupid mistake. Started trading a race after it's scheduled start and became so surprised when it was suspended! Sloppy me 
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Online Trader
- Posts: 211
- Joined: Wed Apr 21, 2010 7:13 am
Did you not notice the "In Play" on the screenCaerMyrddin wrote:Lost yesterday due to a stupid mistake. Started trading a race after it's scheduled start and became so surprised when it was suspended! Sloppy me
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CaerMyrddin
- Posts: 1271
- Joined: Mon Sep 07, 2009 10:47 am
AUS racing, no exit to follow...
I get a little sloppy after a long winning streak, but please don't be worried, it wasn't a big loss. But thank you anyway.
I think this is a mental issue and I'm addressing it, but sometimes something like this happens, I lose my concentration and forget 'a little detail' like this.
I think I'm in the right track (starting to worry about PC lol ) so just another 'fine tuning' I have to come up with.
Being enable to practise sports isn't helping either. I have an injured foot and my form is poorer and poorer everyday.
I get a little sloppy after a long winning streak, but please don't be worried, it wasn't a big loss. But thank you anyway.
I think this is a mental issue and I'm addressing it, but sometimes something like this happens, I lose my concentration and forget 'a little detail' like this.
I think I'm in the right track (starting to worry about PC lol ) so just another 'fine tuning' I have to come up with.
Being enable to practise sports isn't helping either. I have an injured foot and my form is poorer and poorer everyday.