Friday, 27 August 2010

Ponderings and pontifications

This week has seen a good proft returned from the horses, God love 'em.


It's not masses I know, especially compared to what some squeeze out of the exchanges, but it's far in excess of the £100-a-week minimum target I set myself at the start of the summer. I've managed to make some profit the last 15 days in a row now which has done wonders for my spirits; in fact, I've only had 3 losing days this month so far. Now I'm starting to get some consistency, I'm contemplating going full time and really making a go of it, using horse racing as a prop while I explore other territories (tennis mostly).

The only doubt I've really got is how things will go over the Autumn / Winter with less horse racing to fall back on. I've been doing the horses pretty much every day since last October but I don't know if the markets were good or not because I was only making pennies back then. All I cared about was not losing loads while I was learning.

I've always found the lifestyle of a trader enchanting ever since reading blogs by the likes of Adam Heathcote, Jack Birkhead and Peter Webb. This recent post by Peter was just pure awesomeness and exactly the lifestyle that I dream of. What a cool little mobile setup.

I'm a bit rooted to my office at the moment with trading, reading blogs, scanning Betfair for trading opportunities, studying form, looking for live feeds, talking in chat rooms...it all takes time. In fact, if I'm not careful, I'm in danger of becoming consumed by it! Once the kids are back at school I hope to get into a better routine whereby trading compliments my life rather than consumes it. I think the run up to Christmas will be a true test of whether I can cut it in the long run.

I'm certainly not delusional as I know how hard it has been just to reach this far without losing my mind or money! The gravy train could end tomorrow for us all, who knows what's around the corner? So we might aswell enjoy it and aspire to be the best we can, while we can!

9 comments:

  1. Great consistency Mets, your hard work is paying off good luck with next weeks markets.

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  2. Hello Met, do you mind to add me on msn or skype, for us exchange some ideas, my msn gmarodin@hotmail.com
    skype gmarodin or send me your contact... tnks

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  3. I wouldn't call working whilst on holiday with your kids awesome, in fact the complete opposite . The whole point of making the cash is to enjoy it not spend every waking moment trying to make more at the expense of evrerything that really counts.

    Just been on holiday with my kids for most of August and yep it's a pain to miss so many opportunities trading but giving my kids my time counts for a lot more than money in the long run. Don't envy Webbs lifestyle Mets, from what I've seen it's nothing to be envious of. Heathcotes and Birkheads on the other hand :), at least they take time off to enjoy it and don't have pesky kids to look after.

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  4. @Gabriel - Hi, I've emailed you.

    @Anon - I know what you mean, it's not ideal taking your work on holiday but I'm not sure I would class sports trading as real work.

    AH blogged once that trading is the biggest mooching career there is, not paying taxes, producing anything or contributing to society.

    At Peter's level, missing a couple of hours of racing is probably akin to sacrificing many hundreds of pounds. Perhaps the guy is a work-a-holic and fair play to him, holiday homes like that don't come cheap! :)

    Don't get me wrong, I'm not Peter Webb fanboy - by all accounts his trading courses are overpriced and most of his blog entries have heavy product placement - but at the end of the day, he's a business man / entreprenuer and we should celebrate that more in the UK; if you've got a nice car in this country all people want to do is key it :(

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  5. Hey Mets,

    Was just wondering what site you use for the chat rooms you mentioned? As i'd love to have a chat with other traders share some views and that.

    Congrats on the trading by the way!

    KO'D

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  6. Hi KO'D

    Just added your blog to my list of reading material, all the best.

    I've just started poking my head in TradeShark's chatroom http://www.blog.tradesharktennis.com/

    Hope to be in there a bit more during the Open. TS always has time for a chat, not sure about some of the other lurkers though! ;)

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  7. Thing is mets , missing a couple of hours to him is the same as you missing a couple of hours. It's all relative, he's earning hundreds an hour but he's earning those amounts day in day out so missing 7/365ths of your yearly earnings isn't a big deal. Missing out on your kids growing up, family/partner life probably is. It's very easy for trading to become all consuming, especially early on, but at the end of the day you need to treat it as a job. I certainly wouldn't want that holiday home if all it became was a second office, I'll settle that Blackpool B&B and my kids on the beach.

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  8. @Anon - Yes but you're assuming that for the other 358/365ths he IS missing out. If he's half the trader he appears then trading for a few hours in the arvo leaves him lots of time with the kiddies.

    I can only speak for myself when I say that as someone who has, in the past, bolted turbos onto diesel engines on 14 hour night-shifts, clicking numbers on a ladder in the comfort of my own home for a few hours allows far quality time with the family.

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