Tuesday, 17 July 2012

Trading is Easy

The title of this post is a phrase I despise. It is one of the biggest fallacies of trading and was something that I read on numerous occasions when I first began to learn. You don't seem to see it quite so often these days I've noticed, though maybe that's because I don't spend any time on the Betfair forum! But every now and then, I will still see a sentence such as 'it is relatively easy to profit from this strategy' or 'you should be able to make money easily this way' or 'easy money'. It really gets my back up because I don't believe that anyone who is long term successful at trading would ever say such a thing. I always conclude that there are 4 types of trader who will ever say that trading is easy: scammers, liars, the short-term profitable and people with a system to sell. The former and the latter are often one and the same, though not always.

I was very surprised recently when I saw someone I'd always believed was very reputable and certainly knew his stuff, claim that it was quite easy to make money from trading tennis. Broken down to its bare bones, trading is very simple - buy low, sell high. I am of the belief that we as individuals, over-complicate matters with intricate systems and in-depth stats that for the most part, can probably be disregarded. And making money over a short period is, in theory, very easy to do. A monkey could randomly tap the mouse pad to enter a bet and it could end up a winner. But if it's that easy to win, then it's just as easy to lose. And whilst anyone can make money over the short-term if variance starts out in their favour, over the long run, sustaining a profitable income is very, very difficult. Besides, anyone who has followed this blog from the start will know that tennis trading is anything but easy!

That said, I can now say with certainty, that although trading is not easy, it does get easier. Like most things that we learn, there is a curve. It starts off steep and tough, then we reach a hump where it may plateau and seem like no progress is being made and then eventually (if you don't give up) you should free-wheel downhill to easy street. I'm pleased to report that finally, I feel as though I am going down the slope. Trading is no longer a struggle for me and when you look at this post and see where I was exactly a year ago, you will understand just how much this means to me:

Rest and Recuperation

One of my goals for 2012 was to put together 6 months of consistent, solid profitability. I knew that if I could do that, I could really make a go of sports trading, professionally. Well, July will be my 6th straight month of clear profit, if I can hold it together for just 2 more weeks - and I'm well on course. As a result, I have more confidence now that my bank is decent, which allows me to relax more and take on slightly riskier trades and go for larger greens. I never have doubts about the strategy I use because I know it has performed over a reasonable period of time and this gives great mental stability when I'm in a  bad spell of variance.

Best of all, I look forward to trading every day. I'm able to enjoy the tennis much more and part of what drives me to do well is that I find it fascinating learning about the players and how each one is at a different stage in their career and going through different challenges.  To me, it's like a soap opera; a constantly changing series of plots and sub-plots, with each player a distinct character that makes up the rich tapestry of the ATP and WTA tours. When I was struggling with trading, I started to lose that passion for the actual tennis and in turn, this affected my focus. Now that trading comes much easier to me, I've found everything much more engrossing, like it was when I first started.

So whilst I will never say that trading is easy (who knows how the markets might change or my personal life may affect things) if you have the durability and the willpower, it can become much easier. Now let's see whether I've jinxed things..........

Caroline Wozniacki:

1 comment:

  1. All I want to say its thank you for been there. Reading your blog makes me reread my stats and correct some errors I make every day.


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