Today is the first of May. 20 years ago Ayron Senna died (wow... I am getting old :-)), one of my favourite sportsmen. A sad day, but that is not the topic of this post.
In German we say "Alles neu, macht der Mai". It means that everything is changing in May. In my case it's the perfect time to make a "new start" with trading. Since I started the blog, I made a lot of learnings. For example that the concentration on one sport is good (for me). Soccer and NBA didn't work, at tennis I see light on the horizon. The apprenticeship is over. I am more or less breakeven at tennis (despite a lot of bad trades I did!), it should be a question of time to reach the fifth stage of betfair trading: https://www.geekstoy.com/forum/showthread.php?t=1589
In the article he is talking about six month on the fourth stage, where I am now. If I will not make it to next step in the next half year I failed. From today until the rest of the season it's more or less half a year. So it's a great opportunity to find out in the remaining part of the year if I have the trading skills (or not) to reach the last stage.
I decided to start today with exactly 100 Units (5'000 Euros) and a constant stake of 1 Unit (50 Euros) per trade. I made the necessary transactions to be ready. Yes, I wrote that the financial figures pressure me. That's true, but a professional trader has to live with this feeling. When I like to live one day from trading, I have to get used to this situacion. For this reason I decided to make a profit&loss reporting of every trade. I am just allowed to trade inside the strategy (no more free style trading anymore!). At the end of the season I will exactly know, how I performed. If I don't reach the end of season (because I blowed my bank) it would be the end of the dream. You have to accept the truth. In my life I lost too much money with betting and trading, so this is a last (hopefully successful) try to earn money.
Perhaps that was a sign today. In Switzerland the authority are changing the law about betting. In the future it will be completely legal over internet and you have not to pay taxes anymore! This is great news.
I will keep you informed about my progress as a trader and especially how my bank develops. In a time frame over seven months bad and good variance will even up. The figures will just show the truth about my trading skills. So I am extremely curious about my upcoming results.
In German we say "Alles neu, macht der Mai". It means that everything is changing in May. In my case it's the perfect time to make a "new start" with trading. Since I started the blog, I made a lot of learnings. For example that the concentration on one sport is good (for me). Soccer and NBA didn't work, at tennis I see light on the horizon. The apprenticeship is over. I am more or less breakeven at tennis (despite a lot of bad trades I did!), it should be a question of time to reach the fifth stage of betfair trading: https://www.geekstoy.com/forum/showthread.php?t=1589
In the article he is talking about six month on the fourth stage, where I am now. If I will not make it to next step in the next half year I failed. From today until the rest of the season it's more or less half a year. So it's a great opportunity to find out in the remaining part of the year if I have the trading skills (or not) to reach the last stage.
I decided to start today with exactly 100 Units (5'000 Euros) and a constant stake of 1 Unit (50 Euros) per trade. I made the necessary transactions to be ready. Yes, I wrote that the financial figures pressure me. That's true, but a professional trader has to live with this feeling. When I like to live one day from trading, I have to get used to this situacion. For this reason I decided to make a profit&loss reporting of every trade. I am just allowed to trade inside the strategy (no more free style trading anymore!). At the end of the season I will exactly know, how I performed. If I don't reach the end of season (because I blowed my bank) it would be the end of the dream. You have to accept the truth. In my life I lost too much money with betting and trading, so this is a last (hopefully successful) try to earn money.
Perhaps that was a sign today. In Switzerland the authority are changing the law about betting. In the future it will be completely legal over internet and you have not to pay taxes anymore! This is great news.
I will keep you informed about my progress as a trader and especially how my bank develops. In a time frame over seven months bad and good variance will even up. The figures will just show the truth about my trading skills. So I am extremely curious about my upcoming results.
Good luck,
ReplyDeleteThanks! I will need it, especially in the beginning. If I am in profit the confidence will rise and things will go the right direction. After Wimbledon I can make a first estimate if I can succeed.
DeleteThanks for your hint about the taxes in Switzerland. That was the reason i decided to move to Austria (from Germany) after Betfair left the german market.
ReplyDeleteIt's good to make a new start from time to time. I restart my balance statistics always at the beginning of a year .
Good luck for your trading career.
Thanks! Would be a great to have an income from trading if you don't have to pay taxes in the future. Yes, it's good to set the clock to 0 after the apprenticeship. My new slogan "Now or never"... In theory my knowledge is decent enough now to succeed, now I have to bring the proof in the practice.
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