Morning all. New to this site as I have been looking for thoughts on strategies etc, especially scaling. I know, aren't we all................
I imagine I'm similar to many in that I wouldn't go so far as to state that I have 'a strategy' but I do have some self-imposed 'guidelines' that I'm trying to follow. Suffice to say that I am being a little bit successful, in terms of generating an improved bank. I don't have a staking strategy as yet as I started out with a very small amount that I'd forgotten about in my account (having been on hiatus after one of my many losing phases that lead to a draining of confidence/ enthusiasm); hence I've sort of been betting with 'free' money.
So here I am, arriving at the point of this post. I understand liquidity well enough and feel the markets I am trading in will withstand increased stakes. What I'm worried about is my confidence and discipline as I strive to journey to that hallowed nirvana of a Betfair strategy that will generate enough income to enable me to both validate the time I spend on it, and bring in enough dough to enable me to change my work-life balance.
Thaks for reading. Appreciate any thoughts you may have.
Good luck, and cheers
Gills1970
Newbie thoughts and help please?
Hi, just some general thoughts on confidence and discipline or looking for something more specific?
But you're right, it's hard to stay positive when balance keeps showing negative.
Although this then suggests your motivation is likely extrinsic, expecting instant reward etc.
But trading is difficult because it requires sustained effort, and only intrinsic motivation can really sustain that over a longer period.
I'm afraid it's as simple as that.
But you're right, it's hard to stay positive when balance keeps showing negative.
Although this then suggests your motivation is likely extrinsic, expecting instant reward etc.
But trading is difficult because it requires sustained effort, and only intrinsic motivation can really sustain that over a longer period.
I'm afraid it's as simple as that.
There are many posts on here on this very subject. Do a search as there's already plenty of good advice.gills1970 wrote: ↑Sun Jul 21, 2024 11:30 amMorning all. New to this site as I have been looking for thoughts on strategies etc, especially scaling. I know, aren't we all................
I imagine I'm similar to many in that I wouldn't go so far as to state that I have 'a strategy' but I do have some self-imposed 'guidelines' that I'm trying to follow. Suffice to say that I am being a little bit successful, in terms of generating an improved bank. I don't have a staking strategy as yet as I started out with a very small amount that I'd forgotten about in my account (having been on hiatus after one of my many losing phases that lead to a draining of confidence/ enthusiasm); hence I've sort of been betting with 'free' money.
So here I am, arriving at the point of this post. I understand liquidity well enough and feel the markets I am trading in will withstand increased stakes. What I'm worried about is my confidence and discipline as I strive to journey to that hallowed nirvana of a Betfair strategy that will generate enough income to enable me to both validate the time I spend on it, and bring in enough dough to enable me to change my work-life balance.
Thaks for reading. Appreciate any thoughts you may have.
Good luck, and cheers
Gills1970
Indeed, buried underneath all the political threads
To go along with the running theme here is Donald with the most relevant bit of trading advice : https://www.youtube.com/shorts/pVHh70o5KO0