why i stopped trading and went back to straight bet instead

[Emtaxx]

That's where I make my money.

I've got ur edge now Euler !!!!!

[stueytrader]

Good points on automation Shaun, though I am probably unlikely to ever get around to it - I've got rather set in my ways these days, and seen as it's going well not really got much need to change to automation. I've managed to be more realistic with my time these days - so at least sometimes also do other things beside trade and bet.

I also wouldn't trust doing it well, automating, (at least at first), so seems a backward (or sideways) step for me now.

But I can see why anyone really struggling with manual and time might look to develop it.

Yeah it's about choosing the lifestyle you want to build, no point turning it into an IT job where you never see sport if you enjoy the watching and adrenaline of mouse clicking. Auto definately isn't just a case of having a guess, failing then guessing again, there's a lot of work involved so not an 'easy' option to be chosen lightly.

Totally agree with all that.
Just out of interest, when you reduced time needed for trading activity during the days, did you have some particular other activities in mind that you wanted to spend more time on, or just a general feeling you needed more free time away from trading?
I probably have to admit that I love my 'hobby/side-business' of trading and betting most days.

[stueytrader]

Another thing I'd add about the trading v betting comparison and choices:

One thing I've learned since starting trading, was that I understood betting much better once I had started to understand trading. I think I can appreciate ideas like 'value' and when to take prices more, in particular using the exchanges (which I almost exclusively do, whether betting or trading).

So, some experience and practice in trading can be beneficial, even if you are primarily a position taking betting person.

[ShaunWhite]

Just out of interest, when you reduced time needed for trading activity during the days, did you have some particular other activities in mind that you wanted to spend more time on, or just a general feeling you needed more free time away from trading?

I'm just a late night person, its easier to focus and less distractions. And being free during the day felt like a permanent holiday after close to 40yrs of setting the alarm clock for work. I usually work from 12 till about 5am (6 or 7 days a week), sleep till 12ish (never much to miss in mornings) then 'free' all day/evening. Suits me. And having different hours is OK cos my wife also works at home so the hours stagger and we both get some personal space.

All tmi but yeah, i just like pottering around and not being ruled by the clock and sporting calendar really esp in the summer.

[stueytrader]

Just out of interest, when you reduced time needed for trading activity during the days, did you have some particular other activities in mind that you wanted to spend more time on, or just a general feeling you needed more free time away from trading?

I'm just a late night person, its easier to focus and less distractions. And being free during the day felt like a permanent holiday after close to 40yrs of setting the alarm clock for work. I usually work from 12 till about 5am (6 or 7 days a week), sleep till 12ish (never much to miss in mornings) then 'free' all day/evening. Suits me. And having different hours is OK cos my wife also works at home so the hours stagger and we both get some personal space.

All tmi but yeah, i just like pottering around and not being ruled by the clock and sporting calendar really esp in the summer.

Sounds good to me - like you say being 'free' is a rare commodity, whichever way we choose to use that. I am guessing many players who have wanted to go 'pro' in betting or trading had that idea of being more 'free' as a central motivation, in particular from the nightmare of some jobs and those type of schedules. I'm a little lucky because my other (employed) job is now very flexible, and also home based.

[Kai]

being 'free' is a rare commodity, whichever way we choose to use that

Freedom is nice, but too much of it can backfire

A "pro" can either stand for professional or procrastinator, depending on how you use that freedom

[Kai]

Another thing I'd add about the trading v betting comparison and choices:

One thing I've learned since starting trading, was that I understood betting much better once I had started to understand trading.

In my networking years I kept running into two main types of people:

1) Those that initially penetrated deep into market efficiency and went all in into whatever big edge they stumbled upon, they organically learned about psychology and everything else by using their edge

2) Those who obsessed over psychology and all other secondary aspects around the market, tiptoeing around everything except the edge itself

IMO you can be as anal as you want about it, but that's basically taking the "scenic route" to whatever your destionation is

[stueytrader]

Nice points Kai - yes, I know that issue with 'freedom', sometimes I've had quite a lot of it, and achieved little with it! Maybe your earlier point about attention is partly related here too (?)

I agree that learning on the job, or by immersion, is often a key principle here, in trading, betting or any other skills area. And trading experience can give you some of that needed experience when you tackle betting activity.

[Kai]

Nice points Kai - yes, I know that issue with 'freedom', sometimes I've had quite a lot of it, and achieved little with it! Maybe your earlier point about attention is partly related here too (?)

It's all directly related of course, that's how it feels

Too much freedom without any focus obviously leads nowhere, which basically makes attention the real currency

And without real focus on your trading execution you just end up distracted by the market noise and probably butcher things anyway

Then if you lose sight of your goals and don't pay attention on keeping up with market whims etc you get left behind and lose edge over time or even overnight

TBH the whole world is distracted these days... If you can somehow keep your focus in this "age of distraction" that's a monster edge in itself surely

But money => time => attention could just be a personal realization, for the sake of discussion, it could shift into something else later on

I am not young enough to know everything

[stueytrader]

It's all directly related of course, that's how it feels

Too much freedom without any focus obviously leads nowhere, which basically makes attention the real currency

And without real focus on your trading execution you just end up distracted by the market noise and probably butcher things anyway

Then if you lose sight of your goals and don't pay attention on keeping up with market whims etc you get left behind and lose edge over time or even overnight

TBH the whole world is distracted these days... If you can somehow keep your focus in this "age of distraction" that's a monster edge in itself surely

It's a reason I spend very little of my attention on rubbish like news and world current affairs. Some people spend every day digesting all the rubbish that comes our way. It is pointless and benefits you in no ways personally.

In my trading and betting activity these days I try to stay fully focused at all times (which includes back to the issue of time off as needed breaks too). I try to avoid letting any markets change my mind, as much as reasonable. If I think it's wrong, then it's wrong! That is why betting and value can be so key in your thinking.