Commitment!

When you start up at Betfair, things are difficult! Everyone of us are on Betfair for one reason, and one reason only. MONEY!

 

Trading the exchanges has taken me through almost all of the feelings i can go through.

 

From joy and laughter, to deep deep frustration and anger! 

 

When i started up trading, nothing was easy! I didnt have geekstoy 5 years ago, so i had to pay around 43 kr to get a 24-hour licens to Betangel, well aware off that it was an investement and that the money would come back some day if i worked hard enough.

 

I was 18 and still in school. The only thing i knew about Betfair at that point, was that you could back and lay, and that if you wanted to trade, you had to use some software such as Betangel.

 

I was aware of a lot of well known statistics about trading, such as only 5-10% of all traders are succesfull, around 80% of all traders quit after x months and so on.

 

But i wanted this! And i wanted it big time! So with no help from anyone, i had to take this journey on my own. 

Being in school gave me around 2000 kr a month for living. Being 18, meant i only had 500 kr left after the 1st every month. (I tend to use it on clothes, parties and friends)

 

So i figured out, i could afford at least 10 times 24-hours licens to Betangel every month. And if i didnt managed to get my money back by trading, then that was it. Wait for next month. 

 

After trying to trade the horses for a month, i almost gave up! I just couldnt seem to get it going! It was so difficult and the competition was way to high for me! I always saw the market as one tough guy that was trading for decades! So i knew this was going to be a hard one to crack! 

 

 

So after a while, i jumped to the greyhounds. Thinking the competition was not that high and i could at least get something out of the market.

 

Greyhounds seemed to work for me. So i stuck here for a while. Trading 5-6 hours a day, and trying to build up my bank. I usually ended up with a profit around 50-60 kr a day, -43 kr for the licens, gave me around 7-17 kr a day in profit. Not much for the hours spent, but i could see that i made money now, and my bank was growing. So i kept on doing this, day after day after day! Well aware of that there could be a good ending to the story, but nothing was guaranteed!

 

So after 3 months, i was getting at a point where i really started believing in that i could go this way. I was making around 30-40 pounds on the greyhounds, and i had got a great feel for the markets! Taking around 60 markets every single day for 3 months, really started to pay off! My confidence was HIGH in trading, and i felt that i could control what i was doing! 30-40 pounds a day was huge money for me, so i decided that it was time for the next step, the horses! 

 

I had the same commitment to the horses this time, and with a lot of markets traded the last 3 months, i started to evolve some great entry and exit points, that really helped med trade the horses. After 7 months after starting up, i was making around 100 pound a day, and extremely satisfied. What took me from 100 pound a day to 1000 pound a day, is a long story, but here you got the story about how i started up and how tough it was!

 

I knew that if i worked hard enough, i would get there some day. Easy as that! Hard work does pay off. You cant tell youself that, today i am going to work hard, and tomorrow i am going to work hard and then stop working hard after a week. No! That is not the way to go. 

If you take a decision, you have to commit to it! You have to keep on working hard till you get there. Why else do it? Is not about working hard for a week or two. This does take time. But the difference between you and me, is that i worked hard for months and months, and if you do the same, you have great chances of being in my place one day!

 

That is why i really dont like new traders that skype me saying, Hi Mike, can you help me make 100 pound a day by the end of this month? Well, NO, i cant help you with that. 

Or people saying: Mike, i have traded for a week now, i really cant figure it out! 

True, you cant, imagine how easy it would have been if everyone could figure it out after a week! Come on guys. Be realistic about trading! You cant learn this in a week or two. Not even a month.