Ouch!


Yesterday was the worst day for my tips for a long time, with a loss of four points!

Now I would be lying if I said that I did not find it painful when something like that happens and I must confess that when I checked the results last night I did get a sinking feeling in my gut.  For most of us it is painful enough handling a big loss of our own, but when you know that others will have lost money based on your tips it magnifies that pain.

However as I keep saying this is a long term game and one day’s results whether really good or really bad should not really have much effect on our outlooks. My selections did run their races with two of them only narrowly missed out on a place.

I think what made yesterdays result hurt so much was that I have been on a good run for quite a while now  and that can lead to false expectations of success every time a selection runs.

Am I going to approach my selections any different now because of yesterday’s results? Of course not, they have been profitable every month up to now and are still just in profit this month even after yesterday’s results have been taken into account.

You may be saying; “Why write this post then?” Which is a valid question and my reply is that up to now because my selections have been doing so well, I have just been reporting success which as I have said can lead to false expectations. Well yesterday’s results have allowed me to show that I will be open on the blog and report my failures as well, also I want my blogs readers to see that; yes of course a big loss hurts but the best way of dealing with it is to stay in control of your emotions and stick to the plan.

There was a time, not too long ago where an unexpected big loss like yesterdays would have had a major effect on me, which normally resulted in a stupid and even bigger loss inducing overreaction, So I am pleased with how far I have moved forward in my approach to sports speculation.

I hope you have enjoyed this post

Stay patient
Mark

10 comments:

  1. You haven't called this blog "Patient Speculation" for no reason, it's long term investment that is the name of the game as you and your readers know well....the peaks and troughs on the graph tell it all!! After a trough comes a wave.............!!

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  2. Hi Mark,
    Just wanted to let you know that I have really enjoyed following your posts since I discovered this hidden world of trading and betting blogs.
    I really admire your thoughtful and thorough approach - I have been trading the pre in play markets of horse racing but have busted a couple of banks by going in play!!! Have had more joy trading football matches but still searching for my edge!!! By reading your blog and others on here I have realised tho that you need to commit to the long term - I love the idea of your portfolio style
    speculation but am not sure if it is right for me ie being around to at the right time to put the bets on etc. But I have learned how important it is to keep records and plan for the long term.
    I always look forward to seeing how you have got on with your own selections and your portfolio!! Keep up the good work!!
    Keith

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  3. Hi Lee

    You are of course correct mate, we serious sports speculators are in it for the long term and yes there will be peaks and there will be troughs, and as long as our staking lets us cope with the troughs the peaks will surely come.

    Thanks for a great comment
    Mark

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  4. Hi Keith

    Thanks for your excellent comment.

    There is a whole host of quality free information in the blogging community regarding our interest of choice.

    I am pleased to see that you are finding football trading fits your approach and I am sure that if you stick at it and constantly work on your skills and trading style, you will find your edge.

    You are of course correct about running a portfolio of free tipsters and methods not being for everyone, but I think by showing on my blog how I am getting on does give the blogs readers plenty of ideas for their own approach to sports speculation.

    Once again thanks for your excellent comment and words of support.

    Regards
    Mark

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  5. Mark,

    The sign of a true professional is an every day approach of sameness..no one day is any more important then the next, and if it is there is something wrong.

    All the best!
    Jake

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  6. Hi Mark,

    Great read. Nice comments to from the guys. You have been in such good form that a less successful day will come along every so often. Appreciating the good and bad helps guide discipline. Sometime a loss can bring about a learning curve, which makes you money long term. That is a point people seldom consider or detail but you can learn much more from a loser than a winner at times. You are doing great.

    Regards,
    Jason

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  7. Hi Jake

    Your right, it is very important that we do not allow our emotions to go on a daily rollercoaster and it vital to our profitability that we do not allow them to.

    Thanks
    Mark

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  8. Hi Jason

    Yes, it is really important that we learn from our losses and that by doing so we may make more money in the long term.

    Thanks for raising a really valuable point.

    Mark

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  9. Your still moving in the right direction, so keep up the great work ;)

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  10. Hi Mr B

    As a long time follower of your blog I really do appreciate your support.

    Thanks
    Mark

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