My Blog Post Award: Don't Bite Off More Than You Can Chew!



First a quick reminder of what the ‘Blog Post Award’ is all about:

The idea is simple: Every time I find a blog post (new or old) that I think will add value for my readers, I will bookmark it and put it on my list to win the: Blog Post Award.

I will then write a post similar to this one explaining why I have decided on that particular post.

I will also link to the post from my blog post Award icon situated near the top of my side bar

For a full list of previous winners visit my ‘Blog Post Award ’ Page.

Now on to the main event; The winner of my  ‘Blog post Award’ :


From the  New Sports Exchange Trader blog.

I am a regular reader of the New Sports Exchange Trader blog and I normally drop by most days to see how Steve the blogs author is getting on in his quest to become a full time professional sports trader.  As soon as I read this post (and the excellent comment from the Betfair Guru) I knew that I was going to make it my blog post of the week.

There are two reasons, the first reason is because Steve in his normal truthful and candid way expressed what I believe most new sports speculators struggle with, namely putting theory into practice. In the past I for one particularly suffered from this affliction.

What do I mean when I say not putting the theory into practice? Well I believe that when the majority of us discover the exchanges and realise what opportunities they represent, we learn as much of the theory as possible, getting good advice from forums, blogs etc.

It’s not that long before we have a good grasp of the theory about how to become profitable, we may even have a sensible plan of action, but as Steve quite rightly says; when we sit down at our pc’s and enter the exchange arena, all of our accumulated knowledge is jettisoned in the pursuit of instant profits! You can guess what the outcome of this approach is...

That leads me nicely on to my second reason for choosing Steve’s post.  The second reason is because of the quality of comment posted by the Betfair Guru.

In the comment he explains the need for patience in our approach if we have any real aspirations to become successful.

To quote the Betfair Guru:

“Just take the necessary time to learn the markets. Consistency comes through practise and more practise and you will find that you get "luckier" as time goes by!

I think all new traders go through this spell so you're definitely not alone but most don't stick at it!

The few who do are more often than not rewarded in the future for their patience in the beginning!”

To me that advice is solid gold and if we as relative novice sports speculators take heed of what we have been told, and then follow through by taking the necessary course of action, I believe that we will become successful.

On the other hand, if we do not fully absorb and act upon the advice given, then I would be willing to make quite a substantial wager that this time next year we will still be in the position that we are now.

I hope you enjoyed this post

Stay Patient
Mark.

4 comments:

  1. Excellent stuff, not only is it good to see that I had readers, but also to see its appreciated is great

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  2. Hi Mark,

    Just received your email. Of course I don't mond mate and it's nice that my thoughts are appreciated!

    I'm happy to help anyone who needs a few words of advice from time to time.

    Obviously I run a service aswell but that doesn't mean I'm not willing to help aspiring/struggling traders find their way.

    We even have a FREE chat room for this very purpose!

    We have all been there at some stage and I would advise everyone to take the "patient speculation" approach as that's very much a big part of how I trade.

    You have coined what it is to be a successful full-time trader in your blog title Mark and hopefully people will come here and see what they can learn.

    Best of luck with your trading everybody!

    BFG

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  3. Fine site you have taking shape here, very enjoyable.

    As for the current post it's hard to argue with anything mentioned in it and you can only hope people take notice of it; it makes perfect sense.

    Cheers

    Ben (NTF)

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  4. Hi Steve/BFG

    Thanks for the feedback.When I read your post Steve and then BFG's comment it was a 'no brainer' for me as post of the week.

    Hi Ben

    Thanks for the feedback I'm really pleased that people are enjoying the read and as you say, hopefully learning something.

    Thanks again
    Mark

    ReplyDelete

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