Right so as you've probably figured out by now, my time to manually trade the horses and football is pretty much non-existent, and regrettably it looks like this will remain so for the foreseeable future. It is of course disappointing, particularly having made such good progress towards the end of last year. However priorities change and when I started this venture from a dead end job with plenty of time to trade in the afternoons, my lifestyle has almost completely transformed with a good career path that is much more rewarding, satisfying and time consuming, not to mention the securities that comes with that.
There are a few invaluable lessons I have gained from my trading in regards to money management and discipline. Dealing with emotional reactions effectively is also a big plus having already had a couple of challenging scenarios with my basketball picks, where I could easily of overstaked or hedged when things were not looking good, but saw them through accepting losses where necessary. I don't think I would of stood a chance if I hadn't worked on my discipline so thoroughly during my trading experiences.
So with this in mind, I have decided to focus fully on my spread betting. This has proved to be a very convenient style, permitting me to place the bets and update my stats when it suits me, as opposed to needing to be available when markets are tradeable. Situations change so I would never say never on the trading front, and who knows if the US legislation does 'develop' as predicted by many, then the liquidity in US racing amongst other markets should spike, and would make trading very accessible for me oncemore (once BF sort out the off times!).
I have also expanded my spread betting again to include a few major European football leagues. It's been going well so far and I will post my final weekly and then monthly review analyzing my results for March. I think weekly posts are the best way forward with the spread betting, as it gives me adequate time to reflect on the immediate results whilst keeping all the spreadsheets up to date.
There are a few invaluable lessons I have gained from my trading in regards to money management and discipline. Dealing with emotional reactions effectively is also a big plus having already had a couple of challenging scenarios with my basketball picks, where I could easily of overstaked or hedged when things were not looking good, but saw them through accepting losses where necessary. I don't think I would of stood a chance if I hadn't worked on my discipline so thoroughly during my trading experiences.
So with this in mind, I have decided to focus fully on my spread betting. This has proved to be a very convenient style, permitting me to place the bets and update my stats when it suits me, as opposed to needing to be available when markets are tradeable. Situations change so I would never say never on the trading front, and who knows if the US legislation does 'develop' as predicted by many, then the liquidity in US racing amongst other markets should spike, and would make trading very accessible for me oncemore (once BF sort out the off times!).
I have also expanded my spread betting again to include a few major European football leagues. It's been going well so far and I will post my final weekly and then monthly review analyzing my results for March. I think weekly posts are the best way forward with the spread betting, as it gives me adequate time to reflect on the immediate results whilst keeping all the spreadsheets up to date.
3 comments:
Hi,
Where have you read that befair in the US will become legal? I hope so.
Good luck with it.
John
Hi,
Where have you read that befair in the US will become legal? I hope so.
Good luck with it.
John.
No official press release or anything like that, but as I work in the industry I have a few friends saying BF are really close to moving forward with this. Fingers crossed aye.
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