I bought a backing system from someone a while back, and I emailed him this morning to say that it had proved extremely profitable.
This was his reply:
A word of advice from somebody that knows....make me the last person you ever tell that to.....you will not be believed, people will see you as a crank or worse, they will try and exploit you as they know you have money. Keep your own counsel. You have nothing to gain by telling people these things. Money is the root of all evil. I have seen it and experienced it. Keep your own counsel.
It this the approach you professional traders take?
Jeff
Telling people about your success
Money isn't the root of all evil, Jeff. That's a misquote anyway. I can see the guys point though. If you're very successful at whatever you do, some people can become very envious and may want to knock you off your perch or exploit you in some way. With gambling (trading), it's worse because people think you haven't worked for it. It's partly a cultural thing. I suggest you just be careful who you tell and avoid gloating. It's an unpleasant quality.
Hi Dave
I wouldn't gloat - at least not with people I like! - but I agree that it's best to be careful who you speak to. Partly because I don't want to upset people unnecessarily. And partly because I can do without patronising comments or people asking for 'loans' which they have no intention of repaying! Also, you don't want to risk being visited by thugs who want to know your secret!
I think that, if someone's in a boring 9-5 job, and you make more money than them just by trading for a few hours a day, it's going to be a threat to their ego. One way of dealing with that will be to refuse to believe that the claims are genuine (as was seen repeatedly on another forum re. Adam Heathcote). It's a shame such people don't put that energy into working out how to be equally successful themselves!
The correct quote is:
"For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows." (1 Timothy 6:10) The King James Bible
Jeff
I wouldn't gloat - at least not with people I like! - but I agree that it's best to be careful who you speak to. Partly because I don't want to upset people unnecessarily. And partly because I can do without patronising comments or people asking for 'loans' which they have no intention of repaying! Also, you don't want to risk being visited by thugs who want to know your secret!
I think that, if someone's in a boring 9-5 job, and you make more money than them just by trading for a few hours a day, it's going to be a threat to their ego. One way of dealing with that will be to refuse to believe that the claims are genuine (as was seen repeatedly on another forum re. Adam Heathcote). It's a shame such people don't put that energy into working out how to be equally successful themselves!
The correct quote is:
"For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows." (1 Timothy 6:10) The King James Bible
Jeff
DaveA2004 wrote:Money isn't the root of all evil, Jeff. That's a misquote anyway. I can see the guys point though. If you're very successful at whatever you do, some people can become very envious and may want to knock you off your perch or exploit you in some way. With gambling (trading), it's worse because people think you haven't worked for it. It's partly a cultural thing. I suggest you just be careful who you tell and avoid gloating. It's an unpleasant quality.
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andyfuller
- Posts: 4619
- Joined: Wed Mar 25, 2009 12:23 pm
In terms of telling people on the Internet I think you have answered your own question with the above. If you want to find out for yourself start a blog it won't be long til you get abuse.Ferru123 wrote:One way of dealing with that will be to refuse to believe that the claims are genuine (as was seen repeatedly on another forum re. Adam Heathcote).
In terms of telling people off the Internet I try to avoid telling people. It is odd that people feel it fine to ask you how much you have won today or this week but try asking them how much they have been paid! I will just say to people things are going well or not so great. As the person said in the reply to you, it just tends to create jealousy. There are very few people out there who will actually be glad to see you succeed, at least when you live in the UK, my experience is that Americans tend to like seeing people do well.
I'm afraid I can't say. 
As it involves betting on relatively high-odds horses, it could affect the prices and ruin the system for everyone if too many people use it.
Sorry.
Jeff
As it involves betting on relatively high-odds horses, it could affect the prices and ruin the system for everyone if too many people use it.
Sorry.
Jeff
RafterP wrote:What's the system you bought Ferru?
I wouldn't mind checking it out
True, although in fairness to us Brits, we don't shun a loser!
If Tim Henman were American, their public would have realised years ago that he was never going to win a Grand Slam, and stopped rooting for him. And the Americans wouldn't have lauded praise on Ricky Hatton for losing to Ffloyd Mayweather Jr, or on Eddie the Eagle for being a good sport!
Jeff
If Tim Henman were American, their public would have realised years ago that he was never going to win a Grand Slam, and stopped rooting for him. And the Americans wouldn't have lauded praise on Ricky Hatton for losing to Ffloyd Mayweather Jr, or on Eddie the Eagle for being a good sport!
Jeff
andyfuller wrote:There are very few people out there who will actually be glad to see you succeed, at least when you live in the UK, my experience is that Americans tend to like seeing people do well.
I think this jealousy partly reflects people's ignorance.
I suspect they fail to realise that - with betting or trading - you have to put the hours in. Not just in terms of the work you put in every day, but the time you spent acquiring the technical and psychological skills you need.
It's not like you can just use a magic formula someone's divulged to you, press a few buttons, and head out to the golf course!
Jeff
I suspect they fail to realise that - with betting or trading - you have to put the hours in. Not just in terms of the work you put in every day, but the time you spent acquiring the technical and psychological skills you need.
It's not like you can just use a magic formula someone's divulged to you, press a few buttons, and head out to the golf course!
Jeff
andyfuller wrote:
As the person said in the reply to you, it just tends to create jealousy. There are very few people out there who will actually be glad to see you succeed.
Hi Jeff
It is unfortunate that 95% of people can't take other peoples success at face value as they see it as undermining their own failures.
Truly successful people learn from their mistakes, continuially seek to improve and use others as inspiration. The greatest thing we have control of is ourselves and therefore many don't understand that changing your own habits is the route to success.
The good news is the maths in a perverse way - if everyone was brilliant then there would be no opportunities
!
Whilst I am OK at trading there are many others that are better than me and I use my experiences and their success to just keep improving. I also believe that you have the same mindset.
You will also know that certain members of this forum will provide you sound and tacit advice.
So tell us and your family but don't feel any need to prove, justify or divulge your methods on your success.
Think Andy has touched upon our British mentality and unfortunatley due to the muppets he pulled his blog (thankfully he is here in this forum) and also the reason why Peter has a 'closed' blog.
Stewart
It is unfortunate that 95% of people can't take other peoples success at face value as they see it as undermining their own failures.
Truly successful people learn from their mistakes, continuially seek to improve and use others as inspiration. The greatest thing we have control of is ourselves and therefore many don't understand that changing your own habits is the route to success.
The good news is the maths in a perverse way - if everyone was brilliant then there would be no opportunities
! Whilst I am OK at trading there are many others that are better than me and I use my experiences and their success to just keep improving. I also believe that you have the same mindset.
You will also know that certain members of this forum will provide you sound and tacit advice.
So tell us and your family but don't feel any need to prove, justify or divulge your methods on your success.
Think Andy has touched upon our British mentality and unfortunatley due to the muppets he pulled his blog (thankfully he is here in this forum) and also the reason why Peter has a 'closed' blog.
Stewart
Hi Stewart
I wouldn't normally reply to a message just say 'I agree', but I'm making an exception in this case, as you've really hit the nail on the head!
Jeff
I wouldn't normally reply to a message just say 'I agree', but I'm making an exception in this case, as you've really hit the nail on the head!
Jeff
Stewart wrote:Hi Jeff
It is unfortunate that 95% of people can't take other peoples success at face value as they see it as undermining their own failures.
Truly successful people learn from their mistakes, continuially seek to improve and use others as inspiration. The greatest thing we have control of is ourselves and therefore many don't understand that changing your own habits is the route to success.
The good news is the maths in a perverse way - if everyone was brilliant then there would be no opportunities
Whilst I am OK at trading there are many others that are better than me and I use my experiences and their success to just keep improving. I also believe that you have the same mindset.
You will also know that certain members of this forum will provide you sound and tacit advice.
So tell us and your family but don't feel any need to prove, justify or divulge your methods on your success.
Think Andy has touched upon our British mentality and unfortunatley due to the muppets he pulled his blog (thankfully he is here in this forum) and also the reason why Peter has a 'closed' blog.
Stewart
Yes, Jeff, there are, unfortunately, two problems with backing horses at longer odds (as I found out the hard way):
(1) Selections don't win as often, which means you are more suspectible to ups-and-downs (fluctuations in luck)
(2) There is less available liquidity (as you said, you can't put too much on, or prices will be affected).
That's why laying at lower odds is more popular.
(1) Selections don't win as often, which means you are more suspectible to ups-and-downs (fluctuations in luck)
(2) There is less available liquidity (as you said, you can't put too much on, or prices will be affected).
That's why laying at lower odds is more popular.
Hi Zenyetta
With regards to your first point, I agree. Long losing runs are a statistical inevitability, and sometimes you begin to question your own sanity! This is why I'd prefer to be a trader to a bettor!
Re: your second point - True, but my bets aren't sufficiently large for this to be a problem.
Jeff
With regards to your first point, I agree. Long losing runs are a statistical inevitability, and sometimes you begin to question your own sanity! This is why I'd prefer to be a trader to a bettor!
Re: your second point - True, but my bets aren't sufficiently large for this to be a problem.
Jeff
Zenyatta wrote:Yes, Jeff, there are, unfortunately, two problems with backing horses at longer odds (as I found out the hard way):
(1) Selections don't win as often, which means you are more suspectible to ups-and-downs (fluctuations in luck)
(2) There is less available liquidity (as you said, you can't put too much on, or prices will be affected).
That's why laying at lower odds is more popular.
It's a mechanical system.
Jeff
Jeff
Human123 wrote:Is it a service (tipster) or a mechanical system?
I just ask as i have come to my own conclusion that there is no long term profitable horse tipster. apart from maybe that at the races guy but his tips are free anyway..
That is my experience as well. There is a completely different culture in the US and I think that is why the US economy will always do well, whatever the problems. It's often disheartening to return to the UK after spending time in the US. I think it is just a culture thing that has built up over many generations.andyfuller wrote:There are very few people out there who will actually be glad to see you succeed, at least when you live in the UK, my experience is that Americans tend to like seeing people do well.
For my part, I've always looked to successfully people for inspiration. It doesn't mean I have to slavishly follow them, it just means that I gain momentum from seeing what is possible.