I’m sure that if you have been involved in speculating on the sporting markets for any length of time you will have been hit in the wallet by something out of the blue happening, such as your internet connection going down when you have a large liability in one or more markets or a power cut when in a similar situation.
I have written on this subject before with this post: What sports traders/punters can learn from the boy scouts.
I thought that the toy traders contingency plans were as complete as you could get, however that was until I read this post today: Jinx week
In the post Pete Webb a professional Sports trader described his elaborate contingency plans and how even they were defeated by an unusual set of circumstances :
“I had a decent Sunday out at relatives and was fairly buoyant heading into the office this morning. Got on with some work, made a few phone calls and everything was good. Got set up for the first race and then “boom”, a major power outage and the office plunges into darkness. Not a problem as I can re-locate to my home and work from there. Everybody ups sticks and leaves the office. When I get home it seems the outage is a large one as it has affected my home as well. But not a problem as I have a third backup, I can trade from the car. In the boot I have a power inverter and various plugs in case of emergency. I can just go outside and use a 3G connection, the car acts as a backup generator providing endless power. I have a choice of iPad, tablet or normal laptop to use and I have a permanent copy of Bet Angel running as a back up on a VPS. This means I can remote to the server make full use of the low bandwidth over 3G and hit the get out button or switch locations in literally seconds. So…….. I nip into the car log onto Betfair and oh… Betfair is down! Good start to the week!”
The main message that I have taken away from the both of the posts above is that we must not let our guard down in any respect towards the markets or they will take advantage and hit us where it hurts; in our wallets.
And now time for the little confession; I wrote the What sports traders/punters can learn from the boy scouts. post on the 13th of February and guess what? I have done absolutely nothing to improve my basic contingency plans since then!!
I have posted up the confession to give myself a kick up the backside, so as to motivate me to improve my own contingency plans.
I will report back on my progress in three months time.
I hope that you have enjoyed this post