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Full time trading HELP!
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December 11, 2019 - 6:40 pm
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Crikey mate, that reads like an absolute horror story.

For the sake of your hard earned cash and sanity, I’d stick £45k or more in a savings account or somewhere safe and work with a few grand as a beginner, which is what you are.

I can pretty much guarantee otherwise you’re gonna lose another £5-10k, then go off tilt and probably blow the whole lot. Trust me it can happen to nearly anyone. I’ve done it. 

Obtaining value long term is a challenging task, just going with what “looks” like a good selection or what some random bloke says on FB (WTF?) is recipe for disaster.

I would say please start from scratch, learn all the basics over again and stick with 1 system as you were previously. I would not really advise going with your own selections for LTD unless you’ve been testing it for months/years.

Sorry to sound harsh but nobody here wants you to lose your money. 

There is still life in MB if you think outside the box and have “friends and family” … 

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December 11, 2019 - 7:16 pm
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Lord Dio said
Crikey mate, that reads like an absolute horror story.

For the sake of your hard earned cash and sanity, I’d stick £45k or more in a savings account or somewhere safe and work with a few grand as a beginner, which is what you are.

I can pretty much guarantee otherwise you’re gonna lose another £5-10k, then go off tilt and probably blow the whole lot. Trust me it can happen to nearly anyone. I’ve done it. 

Obtaining value long term is a challenging task, just going with what “looks” like a good selection or what some random bloke says on FB (WTF?) is recipe for disaster.

I would say please start from scratch, learn all the basics over again and stick with 1 system as you were previously. I would not really advise going with your own selections for LTD unless you’ve been testing it for months/years.

Sorry to sound harsh but nobody here wants you to lose your money. 

There is still life in MB if you think outside the box and have “friends and family” … 

  

Hi Lord Dio

Thanks for the reply. I understand that I am a beginner but apart from my FB lapse (I know WTF) I am a very discipined person and fully understand the LTD strategy. I have followed Ian’s staking plan and divided my bank by 50 and I am comfortable with it, I have written up a trading plan with entrys and exits, its just that I hit 4 losers on the bounce and before Werder Bremen v Paderborn game sunday I was 1.8 points up. I need to earn £2k a month to pay my bills and live which should be easily achieveable with my bank. If I put £45k in the bank I will just dip into it £2k at a time and before I know it £50k will be £40k. If I lost another £5-£10k I would not go on tilt believe me I would just stop. I have had all the friends and family accounts I can get and to be fair that sort of thing does not sit well with me and it is something that will not last long term anyway.

In relation to finding long term value I will openly admit that that is something that I do not understand but there is no help guide in the beginner section to help with this. I have lots of factors that I look for in my picks and often my picks do come up on the FTS Beginner selections as well, so I must be on the right track.

So should I just stick with the FTS selections and see what happens?

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December 11, 2019 - 7:40 pm
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I’m not actually a member of FTS so I don’t know enough about the services to say if it’s enough volume etc for what you need.

The only thing that has alarm bells ringing for me is trying to combine being a beginner to having a large bank to making a living from it all. It’s ok to say you only need 2-3 points a month, but what if you start the month poorly and are -5 or -6 after a weekend, you then need to claw back 8-9 points and the challenge gets alot harder.

Having a big bank does not = being able to make a comfortable living. The reason I said to have a few grand is to still use 50-100-150 point bank but have much smaller stakes, which is how nearly everyone else has to start. I can’t quite work it out in my head going to £1000 stakes from the off no matter how good the intention and discipline.

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December 11, 2019 - 7:46 pm
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Ok mate thanks for the replies I started at 1k stakes because I followed Ian’s staking plan. He has said that he has layed the draw for 13 years and it works so why not use my bank to its full potential. I will said Ian an email and see what he suggests.

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December 11, 2019 - 8:13 pm
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Best idea. LTD is not the same as it was 13 years ago. Start small, you need to remove the emotional attachment to the bets and gain confidence that stuff works.

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December 11, 2019 - 8:17 pm
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ArtTest said
Best idea. LTD is not the same as it was 13 years ago. Start small, you need to remove the emotional attachment to the bets and gain confidence that stuff works.

  

Hi

I trust that it works but what are you suggesting, should I divide my bank by say 100/200, and go for £500/250 stakes?

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December 11, 2019 - 9:25 pm
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jamesegg0886 said
Ok mate thanks for the replies I started at 1k stakes because I followed Ian’s staking plan. He has said that he has layed the draw for 13 years and it works so why not use my bank to its full potential. I will said Ian an email and see what he suggests.

  

Good plan, though you may not get an immediate reply atm. 

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December 11, 2019 - 9:36 pm
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Hi James,

 

I’m not going to comment on everything, others will do that much better than I. But I did want to touch on one part. You’ve mentioned the selections you’ve made yourself and asked if they were good. Without your reasoning no one can answer that. Also you’ve paper traded Ian’s selections for a month but just jumped into your own?  Whilst making your own selections is always the best way to go in the long run are you there right now? 

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December 11, 2019 - 9:48 pm
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jamesegg0886 said

ArtTest said

Best idea. LTD is not the same as it was 13 years ago. Start small, you need to remove the emotional attachment to the bets and gain confidence that stuff works.

  

Hi

I trust that it works but what are you suggesting, should I divide my bank by say 100/200, and go for £500/250 stakes?

  

I’ll leave it to Ian.

In your email, please state what you are currently doing, what stakes you are using and what your aims are. If you can, where do you think you are going wrong? Please title your email “Need help Please” and I’ll ask Ian to look out for it. Would also help if you include contact details.

It may be a wee while as Ian and Sam are in pieces and both want to spend as much time with Honey as possible ahead of Saturday.

Arthur.

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December 11, 2019 - 9:53 pm
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ArtTest said

jamesegg0886 said

ArtTest said

Best idea. LTD is not the same as it was 13 years ago. Start small, you need to remove the emotional attachment to the bets and gain confidence that stuff works.

  

Hi

I trust that it works but what are you suggesting, should I divide my bank by say 100/200, and go for £500/250 stakes?

  

I’ll leave it to Ian.

In your email, please state what you are currently doing, what stakes you are using and what your aims are. If you can, where do you think you are going wrong? Please title your email “Need help Please” and I’ll ask Ian to look out for it. Would also help if you include contact details.

It may be a wee while as Ian and Sam are in pieces and both want to spend as much time with Honey as possible ahead of Saturday.

Arthur.

  

Ian’s a good bloke he has already replied to my email and I have taken on board his advice. Thanks for your help.

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December 11, 2019 - 9:57 pm
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JonH said
Hi James,

 

I’m not going to comment on everything, others will do that much better than I. But I did want to touch on one part. You’ve mentioned the selections you’ve made yourself and asked if they were good. Without your reasoning no one can answer that. Also you’ve paper traded Ian’s selections for a month but just jumped into your own?  Whilst making your own selections is always the best way to go in the long run are you there right now? 

  

 

Probably not to be honest but up until last night my selections were actually doing fine, although I do not have a large sample size. TBH it was pretty brutal, literally I traded out of Leeds v Hull and Leeds got their goal 30 secs later which resulted in a 1.5 pt loss and I traded out of Inter v Barca and the barca got their goal literally a minute later with another 1.5 pt loss.

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December 12, 2019 - 5:54 pm
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Sorry to stick my oar in but I’m also quite new to this, and I’ve been surprised with how much I keep learning every day, through running processes, listening to Ian’s podcast, reading blogs and forum posts, checking out member systems etc etc.

I found the best way to learn was to do it and make mistakes, which I’m good at. My stakes were low enough for the first couple of months that I didn’t do too much damage.

I’d like to go full time with this too but it won’t be for a while. I don’t have the cash available but also I think once you start to understand this stuff you’ll realise there’s a lot to take in. Signing up for Ultimate was the biggest lightbulb moment for me and helped me to get more realistic about what can be achieved and in what sort of timeline.

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December 13, 2019 - 3:10 pm
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Think it takes time and experience before you can do it full time. Took me 2 yrs of learning, pain and experience before going full time with it. Even then can be tough at times, have to just surrender control and not force things. Best way is just to try and stay in positive spirits and take the actions you have to take placing bets without any fear and with 100% commitment. 

Good example for me is I lost 21k on the juventus game on 1st december but then since that game I managed to win 28k. Have to just stay strong during ups and downs. Don’t look at the scoreboard, just keep taking the actions with a good mood again and again with no fear and complete discipline. Keep an eye on things every yr, be open for new opportunities as well to put some money into as time goes on as well

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When we merge our desire with our faith we can take action from a place of peace rather than control

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December 16, 2019 - 12:09 pm
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Hi James,

Just to add a bit of advice on my own, I think you need rock solid confidence in the sytems(s) you are following if you are doing this for a living.  Its great to understand the mechanics of LTD, have the entry and exits planned etc, but without confidence you will feel like this every time a losing run comes along (which they will).  I had 4 losers in a row yesterday on LTD and it genuinely didn’t bother me.  This isn’t meant as a boast at all, it’s taken me a looooooooooooong time to get to this mental state, I work on it a lot and it makes this game 100 times easier when you get there.

I have been there before, started a system without proper testing, thought it was great because it started well, then at the first bump in the road total panic.  If I had total confidence there would be no panic, the losing run would just be a data point and i’d shrug my shoulders and move on.  I now have systems that I am 100% confident in and the difference in mentality is HUGE, and my betfair balance is moving in the right direction.  It sounds to me to be a bit of a confidence issue, I have been there before so recognise the emotions, and know how difficult it is, but you can 100% get out the other side.

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December 16, 2019 - 1:08 pm
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This was an interesting read,

One thing I don’t understand, if you were only using Ian’s selections why would you stop once you’ve reached your target, yes you might lose one or two but the likelihood is you would win more thus offsetting future potential losses.

I’ve been following a horse tipster for several years, one thing I know is you never ever miss a bet as that could be the one that wins for that Day/week/month, however the losing runs on that particular strategy are far longer than many are comfortable with.

I would say you need more points to the bank, 57 points is limiting, suggest 100-150.

I’m very new to this game but all the tutorials are fresh in my mind, watch videos, listen to pods, learn, learn, learn.

 

And GOOD LUCK 

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December 24, 2019 - 12:56 pm
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Hi All,

As other have previously stated, it’s never a bad thing to ask for help, so well done for doing so and I hope things have improved for your all.

There were a couple of things that stuck out when I was reading through the previous posts so thought it may be useful to provide my comments.

There seems to a common theme when it comes to why the step to full time was taken – current job being too demanding/stressful which if continued wouldn’t be good. It’s good to have realised this before it became too late, however I don’t believe you’ve technically changed anything as you’re probably under more pressure now than you were.

If you’d decided to start your own business in the field you used to work in, it’s likely you’d put a certain amount of money in the bank to cover the bills for a set period of time whilst you got things moving. You’d then be able to spend all day every day selling your services/products, chasing clients to generate the required income. With betting/trading there’s only a finite amount of qualifying opportunities for each system and we all know chasing isn’t advised so straight away your under more pressure than you were before.

Lord Dio has suggested getting another job to ensure you’ve got an income, this to me would be the best thing you could do. Find a simple job that doesn’t come with the previous responsibility, something with set hours where you can switch off as soon as you finish and build up your bank, confidence and discipline to a point where you are 100% comfortable with going full time.

When it comes to banks used for betting, some people talk cash, others talk points. It doesn’t matter which you use but you need to view the bank as a tool to generate income and treat it as such.
In one of the threads it states the bank is circa £50k, but then there’s a comment that says “If I lost another £5-£10k I would not go on tilt believe me I would just stop.” The bank isn’t £50k! it’s £10k-£20k or thereabouts.

Your bank has to be two things 1) large enough/split correctly to cover any losing runs and more importantly 2) money you are prepared to lose. If you get twitchy when you start losing and look to stop before the bank runs dry then it’s not the correct bank for you.

For example, if you’d joined Will Lattimore’s racing service at the beginning of August 2014 with a 100 point bank, by the end of August you’d be -3pts, end of September -25.5 points, end of October -46 points. Just under 50% of the bank gone in 3 months! At that point a lot of people would have bailed, some possibly at the end of September. By the end of 2014 you’d have been -16pts. end of July 2015 +141pts, end of 2015 +358pts.

I hope the above is useful.

As per Chris’s “Don’t worry BE Happy” thread, if there’s anything you feel I can help with, not just betting related, feel free to drop me a line.

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December 24, 2019 - 5:06 pm
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First of all I just wanted to say thank you to everyone for their advice and insight into trading and mindset. 

Unfortunately it did get worse for me and now I am down £12k. Luckily for me I still have £45k left so plenty to restart once I get myself sorted. Obviously I rushed into this far too quickly and with much too bigger stakes. I thought that I could select some of my own selections to go with the FTS beginner selections which was clearly a big mistake, but the even bigger mistake I made was not having the correct mindset and confidence in the system. But I am not going to dwell on it now and repeat what everybody else has already said, I can see the mistakes I have made and will not repeating them. 

Going forward into the new year I will be getting another job and not putting any money into any system until I have the confidence that it is successful and works, I will be buying Ultimate so I can follow a few other systems and maybe create one or two of my own with an aim to start betting them at the start of next season. One thing is for sure I will not be quitting this and I will come back wiser, more confident in my systems and hopefully by the end of next season I will have made a dent in that minus balance my betfair account is showing. 

Merry Christmas and a happy new year to everyone here at FTS. 

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December 26, 2019 - 10:53 pm
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Hope it all improves for you mate. I think asking for help here has saved you some money in the long term.

You said you thought you could find some of your own selections. Around 1% of people attempting that fail, it takes years to develop a solid system from nothing (IMO). None of us can just assume it’s something you can “just do” same as we can’t just perform a root canal or open heart surgery. Extreme examples but all trades take years to master.

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December 26, 2019 - 10:53 pm
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1% succeed I meant to say, at profiting long term.

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