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Losses occur, its good to feel something after one.... but then its best to take a few days off to reflect, gather thoughts, prepare, then strike.. voila - comeback!
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"If it pains you to withdraw and only want to keep winnings to bet with then you definately have a problem."
I disagree. I take encouragement from seeing an increasing bank - motivates me more and helps me realise I'm doing something right. Seeing a reduced bank makes me question my skills ("I've done all this hard work for what"). |
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I keep it simple I hate it when i lose but i'm very happy if i win.
if I don't feel either of these I go on holiday. |
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A lot depends on how you bet, if i took a few days off after a loss i'd never be on here ;)
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yes betfairy you have to enjoy your hard work though. sometimes this means put it in your bank account so you realise it's REAL money. Take the missus for a meal or something etc etc..
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Betfairy, I agree with you about the motivation of seeing an increasing bank. My point was that if youre just betting without withdrawing anything, then there is no point to it at all.
Its best to combine withdrawals with a growth strategy. Say withdraw a set percentage of winnings a day. Like 40%, keeping the 60% for growth. |
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lol buzzer the liquidity would be s h i t e every other day
pmsl |
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"Take the missus for a meal or something etc etc.."
I've already bought her a car and a house! But I still don't like withdrawing money :( |
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lol
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Does it pain you to withdraw money betfairy?
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no wonder you don't like withdrawing money :^0
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she's coting ya a fortune :)
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Too right!
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The biggest mistake being made on here is in isolating losses or wins on a case by case basis.
Any successful gambler is going to have many losses interspersed amongst his many wins. The point is that on a long term basis he/she will come out ahead on a net basis. Therefore as long as the gambler is always making what he/she feels are correct/rational/good value wagers, then the accompanying emotions should be neutral overall or at least minimally uplifting or depressing. As soon as he/she starts " living " each wager then the writing is on the wall. Nerves will then eventually completely take over, courage will fail, panic will set in, and the game, at least professionally, will be over for ever. |
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Sounds of tumbleweed...
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Ah Gene, you're a hard man !
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ah but surely you feel good if you win over a period of time.
your strategy is based on making a profit over months so naturally you'll feel good about your profits in 6 months. however if you feel nothing in 6 months then it's the same as feeling nothing after 1 win ??? |
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Youlittlebotty - just kidding. What you say makes perfect sense. In fact they teach that in the city. Emotions can cause problems.
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If you feel nothing at all ever, then you are surely not even human or are so rich that the money is irrelevant.
In either case, not the normal scenario most of us are operating in. |
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you would be suprised bud. loads on here feel nothing after a win.
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I get days more and more where I just don't fancy it & normally due to this mindset do lose and do feel angry & p****d off with myself for turning the computer on. With a day/2 day break I come back on here with a new zest and an enjoyment & appreciation of all winners.
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I definately think breaks help. After a break I come back focused and find I win more.
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exactly slayerofthekins.
thats what i meant by not feeling anything after a loss.losses along the way have to be accepted as part of a long term winning strategy. if you cant take it on the chin after a loss and not let it affect your staking plans for the next bet then you are in trouble. |
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If I have backed a horse at a fairly decent price and it just fails then I dont feel to bad almost happy.
The selection I have chosen shouldnt really win thats why the price is big and I have had a run for my money, in a way I have beat the bookie. If I have put a big bet on a horse at a short price and it doesnt win I feel absolutely gutted! Really**ed off. Every time this happens I tell myself no more backing the short odds horses! |
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Oh dear, oh dear, oh dear.
Gambling will clean you out in the long run. If you slip into the fool's paradise of "ignoring" your losses or becoming desensitised to them because you believe that you have loads of winnings on the way then you may as well start flushing 50 notes down the toilet as fast as you can. One way ticket to the poor house. |
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you obviously dont do it for a living mayway.
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YOULITTLEBOTTY & jasonk178 have pretty much summed it up.
Controlling you emotions is just as important as studying form. YOULITTLEBOTTY makes a very good point about "living each bet". Each bet should just be seen as part of the overall plan. Regards Trademate |
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Footsoldiers, you are quoting an economist, not a psychoanalyst. Basically he is saying 'people aren't rational'.
Big Tuna is 100% on the button. You shd only care about the generator. Of course this does not preclude emotion, esp. feeling terrible if you have landed yourself with a negative generator. I saddled m/s w/ a lay of Excellent Art (lowest bf price 2.96?) for a large sum of money for me at average 4.3. Through much better play on the DOR market and some calculated risk-taking, I broke even but knowing the expectation I had taken post-race I wd have felt the same about my bets whatever the result. |
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Interesting thread.
For many people the amount being bet is just a number on screen and there is no relationship between that figure and actual cash. I know early on I had some losses that were WAY above what I'd experienced prioir to betting on-line. And this was mainly on bets I would NEVER have done had I been handing cash over a till at the local bookies. Since then I've certainly become less detached from a bet and do think of it in terms of actual money not a figure on screen which has helped avoid some of the crashing losses of years gone by. |
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I once felt absolutely elated after losing about 300 quid on a bet...
...Because I had just traded out of position, where it looked like I was about to lose 1200, and I had little chance of getting out of it. I suppose you possibly could see that as being more of a 'win' elation, but it was still a loss overall. In general, I don't think it's possible to become totally immune to emotion, or even a good thing to attempt, but it's a balancing act. |
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i reded up the spurs game the other night when it went 4-3 cutting my loss on the draw and spurs from 2.5k to a monkey i felt little emotion when doing this to me it was just a matter of thinking about my long term success on here by protecting a reasonable chunk of my bank and admiting to myself that i had got this one wrong as i could see it going tit s up.at full time i must admit i did feel slightly pleased with myself for making this decision and despite losing on the night it was not to big a deal for me because of my decision to bail out i wonder what percentage of people on here would have just let it ride and hoped for the best.i feel being able to not chase when things go wrong and take a loss all round may be the thing that makes me a consistant winner over the longer term what do ya think fs.
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scarecrow... read up on any of the old threads by Schalke. So many times he was in deep but could have got himself out with a smaller loss all round by trading out but he let it ride. If he'd took a smaller loss so many of his "challenges" would still be going strong rather than gone broke. Well they probably wouldn't having seen some of those bets but you know what I mean :-)
Admittedly it's not easy to have an all red screen! And it's a difficult frame of mind to get into at times. |
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alright scarecrow and bradders.Hope you are both well
yeah i agree in the main red booking is fine and it is interesting how formites feel after a loss wether it be in a long term strategy or a bet by bet one. The important thing for me is that when you take a loss or you red book to minimise the loss you actually feel some kind of emotion. Wether it be contentment knowing you have done the right thing or relief that the loss is smaller. To me there is a massive difference of feeling emotions before making a bet or trade or using emotion to back up your pick. This is totally different to feeling emotions if you win or lose. Many on the thread have focused on the easier of the two and that@s when you lose. When you lose there are loads of emotions you could have, you could feel stupid or like a mug, sad, fearful,angry,stressed,annoyed,frustrated etc etc. There is loads to choose from and red booking to me is more of I've done the right thing long term here kind of feeling no matter how it ends up. However what i'm trying to highlight here is the emotions after a win and you'll see there is not many to choose from and in part most emotions after a win would be good feelings. In truth not many people will feel sad or any of the above after a win. But what happens if you feel nothing after a win ????????????? This is becomming common place on here especially amoung the full timers. One of the main reasons explained for this on this thread is because formites are dis engaging themselves from emotion and their strategys are long term and as long as they know what they are doing is right, things will work out for them long term. So again I have to pose the question if you make say 30k after 12 months and you have not lived bet by bet but you still don't feel anything after winning 30k over 12 months there is something wrong ???????? To me not feeling anything winning over 12 months is the same as not feeling happy after one bet and that's just my view nothing else. When I first started if anybody had said give it time you won't feel anything when you win I would have called them crazy for sure, and I did. However this has happened to me more than once and is a great pointer of when I need a break. It's the best advice I have ever had and I mean that. It's also interesting that over the last 3 years when formites have lost all thier money and have decided to share that experience with us all by starting a thread on the matter. It's amazing how many times in the last 3 years the posters of those threads have described that feeling. over 80% of all these threads posted the formite has said in his fairwell that he started to feel nothing after a win. None of them addressed the problem until it was too late thus they went to the wall. In no way am I saying this was the sole reason but it was there in nearly every thread. Eveybody is different ( thank god) but having a break when you don't feel anything after a win has served me well and by starting this thread I thought I would pass this little nugget on. |
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In addition every job most ordinary people have had in their life becomes jaded.
You are in that environment 40 hrs a week. week in week out it's only nartural that the job becomes a bore and uninspiring. So in my view it could be worse as a full timer on betfair. Most full timers actually work more than 40 hrs a week and the fact that they work from home they can't get away from it. It's not as if you can clock out and leave the mess to somebody else. Yes fulltimers build up routines to try and avoid this but it dosen't mean they are not free from it and a betfarian has as much chance of becomming jaded as a guy has who works on an assembly line. |
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also after a break ( normally an adventure holiday) i feel great and the numbers mean something again...:)
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The more one pontificates, the more time waisted that could of been used for enjoyment imho.
"The whole point of life is TO LIVE!" From the Sayings of Dr Slicer available at all not very good bookshops nowhere in the country. |
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askari (who I suspect may have read Taleb's books) is correct here imo. You should be rating yourself on how accurately and consistently you execute, not on the results. This means that you may find yourself admiring your performance when you lose and admonishing yourself when you win.
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you only have to see how misrable the faces are driving around at 8am to realise how good betfair is!
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how much do i owe you know slicer :^0
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now
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