5 Jobs losses in 4 years time to make this pay

[dmbusa]

Hi all

Thank you very much for all your comments and suggestions, like everything in life there are good points and bad points and I believe the trick is to maximise the good and minimise the bad,like trading really run with the profits and cut the losses.

I deliberately kept part of the reason for looking to make this work back as it is not something to discuss in a forum such as this. However my doctors etc are of the opinion that I will never be able to hold down another JOB at least in the next couple of years. So you see I do have a good reason to try this.

Thanks

Simon

[redtra]

Follow your dreams Dmbusa..."All of our lives are filled with sliding doors moments. What would happen if we missed the next train and caught the one after? What direction would our life go in if we turned left instead of right?" Richard Branson

[Iron]

“There's nothing wrong with mistakes. Mistakes demonstrate that you're actually out in the world and you're doing something. You are active. You're engaged. They're sure it has to be perfect; and that terror of trying to be perfect stops them doing anything. What I try and tell people is use your mistakes. Treasure your mistakes."

N. Gaiman

I don't care what my kids will do as they grow up, as long as they give it a good go and don't fear failing, I'd prefer them to fear not trying.

[purpletrader]

Follow your dreams Dmbusa..."All of our lives are filled with sliding doors moments. What would happen if we missed the next train and caught the one after? What direction would our life go in if we turned left instead of right?" Richard Branson

If it was a Virgin train it was probably cancelled

Life is short, follow the dream.

[Kalumpus]

Just go for it, give it a try! Nothing worse in life than looking back & wishing you'd given something a go when you had chance to.

And the best piece of advice - be 100% honest with yourself - your P&L doesn't lie.

[Zenyatta]

Another thing to bear in mind is the time of year. Now is not the best time to be starting out. The quality racing for the year is concentrated in an 8 month period (Mar-Nov), with the 'grand finale' of racing for the year being this week's Melbourne Cup in Australia (Notice Michael Owen's 'Brown Panther' lurking at great odds by the way).

It's much easier to win in the European summer time. From 6th Nov onwards all you have mainly is those UK jumps meets, which are a real ****. On the other hand, if you can win on the UK winter races, you will know you will probably be able to win at anything

[Kalumpus]

The quality racing for the year is concentrated in an 8 month period (Mar-Nov),- I've always believed quality racing starts in Nov!

[Iron]

Doesn't that depend on your style of trading?

One man's meat is another man's poison...

Jeff

Another thing to bear in mind is the time of year. Now is not the best time to be starting out.

[dmbusa]

And are there not other sports to trade as well? eg yesterday i made more trading the footie than i normally do on the horses, (so maybe that is what i should concentrate on)

[convoysur-2]

And are there not other sports to trade as well? eg yesterday i made more trading the footie than i normally do on the horses, (so maybe that is what i should concentrate on)

its very easy to make money on the football..its just so bloody slow..but with a bank of 5000 or so its a good income.

[dmbusa]

its very easy to make money on the football..its just so bloody slow..but with a bank of 5000 or so its a good income.

Right now it being bloody slow is probably a good thing for me as the meds i am on slow the brain cells down somewhat

[steven1976]

DMBusa,
If you haven't already established an edge on the horses pre-race, I would say that other sports with a definite direction is the best place to be.

Horse racing can be manipulated right down to the last furlong and money moves markets.

In football the market can only push against you so far because there will be people willing to smash a price in and take the risk if they push it out to many ticks. Therefore with other sports, the market makers can be your friend as you can offer a few quid to get a better price.

In all honesty, I wouldn't recommend pre-off racing to any friends (just my opinion), but as I believed you have your heart set on giving it a go I recommended that you try it as self employment is very fulfilling and actually quite easy once things are working properly.

The market may lie to you but the P/L wont.

Good luck

[Naffman]

very encouraging and inspirational comments from Zenyatta Not meaning to offend but I don't know who would start with a bank of 34K and demand a good wage at first. I trade Aus markets and I believe UK horse racing markets are harder IMO.

[LeTiss]

Zenyatta is misleading people here. He blew the vast majority of his £34k on travelling, drinking, and shagging. If he lost £30k in 2 months trading, then he is either chasing losses, or applying inappropriate stakes to his trades

[Naffman]

Well I hope he blew it all, I don't know if I could hear or read the name "Betfair" again