Final Lesson: Top 10 Reasons Why Beginning Sports Traders Fail
There you have it. In this concluding lesson, explore some of the top mistakes that beginning sports traders make and learn how to deal with them. Learn how to fine tune your performance and get on track to a powered sports trading career! 토토사이트
1. Trading for entertainment
Believe it or not, not all people trade to win. Some like the kicks of trading sports, especially when the games involved are sports. In order to succeed, you must sports trade to win, not for entertainment.
2. Giving up too quickly
Imagine playing a game of heads and tails with your friend where you would win $1 if heads turn up and lose 95 cents if tails turn up. Obviously this is a profitable game for you, but if you play only 10 games, it would pretty much be anyone’s game as large fluctuations would occur. The simple point to note here is volume. A lot of people simply give up after sports trading for maybe 10 to 20 sessions. Since the edge in trading can be small, it may take you hundreds of trading sessions to see results. So keep trying.
3. Spending too much time on knowledge
Make up in numbers what you lack in skill. To succeed in trading, go out and trade! Some spend way too much time reading and learning about everything online. That is not how a skilled sports trader is made; for a person who reads all about magic secrets without practicing is not a magician.
4. Trading based on unexplained systems
Sports traders fall into the trap of thinking they have a system. When asked to illustrate their systems, they briefly mention what they do but cannot explain how or why their systems work. To sports trade for a living, you must have a sound trading system that can be duplicated, repeated daily for success. Beginning traders may enjoy initial success by trading based on feelings or certain subjective interpretations. But without a consistent system, he cannot hope to sports trade for a living simply because his living expenses depend on his trading performance which cannot fluctuate widely.