At the start of the year, it’s useful to reflect on things. But I want to take you right back to when I made the jump to bet, trade, gamble, however you want to define it, full time.
I did this despite having a good career in another industry. So I had to make the conscious decision to pretty much throw away my entire career to pursue my dream.
Not only that, but I also had a young family and a mortgage. But I risked it all to make it happen.
There is no simple way to talk this through with context, so it’s a longer video. But it contains some of the key things I learned through this experience.
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What a thoroughly pleasant chap
Setting your own rules is pretty unique to trading, it is not really a function of owning your own business. If you are a services provider, you still have to play by the rules of your clients. Of course, you can decide how many clients to have and who they will be, but it is rare that you can actually tell them what to do.Trading Betfair is you vs the faceless marketplace: you have no liabilities to banks, you can trade to whatever level you feel like, as long as you generate enough income to pay your way.So trading is the ultimate career for the ultimate libertarians…….
Ability to develop desire is also an inverse function of parental forcing. 'Pushy parent syndrome' accelerates narrow childhood performance but stunts decision-making capacity, eliminates resilience and quite often creates conditions for depression.There are a lot of parents who 'know what's best for their children', without having to ever prove that nor be punished for be proven wrong.Of course, parental encouragement is a hugely different thing……..
Hi Peter, I'm currently writing my own Betfair trading app. I'm stuck as to how I update the horse racing results when the race has finished. Could you give me a point in the right direction? MarketCatalogue doesn't return past races, just future ones? Thanks in advance.
Great video Peter, as always. I believe personal growth is vitally important. After having a play with Bet Angel part time a few years ago I feel now is the time to commit. Never stop learning, never stop improving and never give up!! I recently read Simon Sineks book – Start with Why. Why do I want to do this? Lifestyle choice, travelling from my home in Australia back to my parents in the UK and still being able to trade. I intend to journal all my experiences and wholeheartidly believe I will be a successful trader. I know its not going to be a straight line from A to B but I will get there!!
Your a very genuine person Peter !!!
I still want to know WHY Betfair is Illegal in the United States ??????? Makes absolutely no sense!! Gambling is.now legal!!! Except Betfair…
Thank You.
As you are the owner and founder of BetAngel. Do you pay for your own software or are you not superstitious.
One of the best video i never seen before from your Channel and such a shame im italian but i was working in Southampton the last 2 year and didnt have a chance to Meet you how i can be your student?
Starts 10:09
Your story sounds very similar to mine. I always had big goals and being naive I worked hard academically to graduate with a masters degree in engineering thinking this would bring me there. After being an employee for a couple of years I realised that I was going to struggle to be any better than average by pursuing this path of high stress and responsibility for little reward. I did not like the corporate environment, the fixed and long hours at a desk, the commuting, the 4 weeks holidays and answering to a boss to name a few things
Trading has certainly not been an easy journey but I know that this is what I want to do and why I get up 7 days a week to do this without it even feeling like work. However it's very hard to talk about to anyone else as everyone still seems to be living in the 20th century where the only path is working in a normal job. The first couple of years are very dark and require a huge amount of passion, resilience and money management/financial backup
Is trading a lot different from gambling? I've been a full time punter for years and apart from doing the odd stupid thing through drink or betting with my heart it's been a breeze
Thanks for this Peter
I agree with you Peter, nobody supports you when you make plans for your future, they tell you you can t do it because pessimism and jealousy are pillars of our society. People can t accepts failures, so they just don t take risk as you said. About psychological aspect, have you ever witnessed moments of sadness, burnout, even desperation when you started trading? Like you were stuck into nowhere and you tell yourself "i can t make this work" ?
Thanks for sharing that advice Peter, guess what? I have elected you to be my mentor !!!!!😃
Sticking 20k on Southampton to win a match at the moment might not be seen as such a stupid thing to be doing 🙂
You'll have heard of The Peter Principal. Interesting comment that you had " reached as high as you could go ". Great video.
Congratulations on your 20 years Peter and thanks for your continued content.
You're a bit like my mentor Peter
Hello, Peter thank you again for great content and some really grounded advice. I would like to have a mentor like yourself. When are you running the courses?
Interesting video and I agree with the sentiment of it. In another non trading area I have an interest there was an interview with what would be deemed a successful person in the industry and they came to the conclusion that following your passion and the money will come is actually an often tauted line but is actually terrible advice. Instead they argued that you should follow what you are good at and that pays and then use that 'easily' earned money to follow your passions. For example you might be passionate about writing but writing is a terrible payer for most. But if you are good at being an accountant do that and then that will fund your passion.
We will never know but I am sure there are many others that like you have over the years quit there jobs to do what you have done but never made it. The thing is we never really hear of them as they fall away.
You are clearly an outlier.
But personally I agree that if you don't try you will never know and I can't think of anything worse than having the regret of never trying and always wondering. Just be sensible and have some form of back up plan.
Happy New Year!
Cool
Really good I can not recommend you enough! I read the original market wizards many moons ago and this is as good
Cool video, thanks Peter !
Brilliant insight as always Peter Makes me reflect on my own journey, where I’m at and where I’d like to be.