Betfair Trading Mentality Training - Don't get hung up on one event and market
- Think of the person in hospital being kept alive purely be a machine, little to no brain function their life support is often kept on at a family's request because this is deemed better than accepting the loss of life.
- Think of how pissed off you can be when your team loses or you lose when playing a sport.
- Think of how much it would hurt to lose all your money and go bankrupt. I think you get the message!
- If (and that is a bif IF!) you still feel OK in terms of your ability to be discipling in the moment, then switch to a different game. Go to your next planned trade on a different match and forgive and forget the mistake you made on this market.
- Do not move away from your usual staking plan. A lot of people up their stakes to try to recover their money instantly, this is a big mistake. If you are a good trader you will make the money back in time, there is no rush.
- If you are angry or pissed off, just switch the computer/phone off. Tomorrow is a new day, go and watch TV or something (not sport!).
These are really simple rules to help keep your discipline in check. Remember, if you cannot do these things you will lose money.
The good news?
You are a member of Betfair Trading Community, the place where we help traders become better at their trading. The simple fact is you will have a much higher chance of making money from trading if you learn from us and follow what we preach!