New year, new you?
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I want to start by wishing everyone on here a Happy New Year and whatever your up to this evening, I hope it’s a good one
A new year is always a time for reflection and I’d like to know what people will be changing with regards their trading in 2022. I’ve learnt a lot of valuable and expensive lessons over the last few months. I built up quite a substantial account but in my eyes I was gambling rather than trading. Subsequently my over staking lost me a lot of money and I’m now a point where if I don’t take things seriously I will not be returning to trading for quite for while. Trading full time is my long term goal and I know that the biggest problem I have is my mentality. Some of my personal objectives and changes for 2022….-
Be more active on this forum. Ask questions / give advice where I can / and get to know members better.
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Use the bankroll staking spreadsheet (purchased from this site) properly and risk no more than 4% in play.
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Set sensible stop losses.
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Watch more videos on trading mentality/psychology.
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Set out a proper trading plan for the day ahead (Thanks Ryan)
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Trade a maximum of 5 games in any day; less is definitely more… I’ve made good money from trading just 1-2 games in a day.
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NEVER trade more than 1 match at the same time.
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Evaluate what went wrong and learn from every losing trade; make notes.
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Use Betfair ‘break tools’ if you feel emotions are getting the better of you. A 24hr site lock out can be a great tool to avoid tilt.
Just being honest with you guys on changes I need to make… would love to hear others
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@oliver-preen Oliver I like your plans and reading them. mine are similar especially in terms of the number of trade and only trading one match in a specific time slot as well as the number of games you trade, I Started this before christmas and found it worked well
The trading plan idea is a good one, I have that and find its useful.
Bankroll, I have after watching Ryans video on it, use only 2% of my bank so far and plan to scale upwards as bank grows, and in line with the videos I have watched here. I think the most I would see myself staking as bank grows is 5%, but thats way of in the distance yet.
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I echo martins comments, all very very good points.
Now how will you know your on track?
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@oliver-preen I think you have set out some really sensible targets. I would say the next step is how are you going to ensure they are implemented? Think of a plan, maybe write out a schedule of actions to make sure the words become reality!
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Happy new year to all lets hope for a better year next year with the pandemic.
Updated my results for December and will post on my blog tomorrow on the results and how i intend on moving my trading on for 2022 -
Nice work, I’m thinking the same thing re improvements for the new year. Been with BTC for three months now and was making great strides with the mentality side of things but then Covid isolation mixed with boredom struck this week and pretty much threw all of that out of the window.
However I remain positive because if I stick to the strategies that I have been tracking alongside a sensible staking plan I will succeed based on the data so far! So key to my success in 2022 is keeping focus on those and limit/cut out the speculative stuff
!Happy new year!
6/6