This is FINAL part of the 5 part blog series where I will be covering some of the BIGGEST lessons that newbies must learn from football trading if they want to succeed in the long term.
It has been fun and I hope you enjoy the final entry!
I often get emails from people telling me one of their big problems with football trading is not having a “big enough bank”
And this seems to me like a bit of a paradox although I can kind of understand at the same time.
Now I can see why not having a “big” bank is a problem since if the money you are winning is not significant to you then you can often wonder if it is even worth the time.
However, if you are “winning” then surely you can just keep building that bank up until it is big enough to you?
Which is why this becomes a bit of a paradox.
Many are not actually winning and blame the reason they are not winning on the size of their bank.
Which does not make sense in football trading.
Since if you are not winning using £10 stakes then you will also not win using £100 or £1000 stakes.
And from teaching many how to trade football I have actually seen the opposite happen when someone tries to trade with a “big bank” right away.
They can’t handle the pressure.
Silly mistakes happen which cost them sums of money that gives them sleepless nights.
And they end up spending most of their time focusing on trying to claw the money back which just leads to even more mistakes and money lost.
And so on…
A similar type of cycle of doom like the one mentioned in Lesson #3
So my advice is to be patient and practice with a small bank. Everyone is different, so even if it just means you are using £10 stakes then it is worth it whilst you learn.
Remember, if you see myself or other traders trading with what might seem like “big” stakes then just remember we all started from the bottom also and now these stakes are not considered “big” to us.
There should be no rush.
Not even a global pandemic stopped the football markets so they are not going anywhere anytime soon.
I even spoke recently about how I lowered my stakes during the pandemic just to take the pressure off myself.
But the best part about all of this is similar to what I said above…
If you can win using £10 stakes then you will also win using £100 or £1000 stakes.
It is just a matter of scaling the stakes up as your bank grows.
Scaling your stakes up is an art form on its own and I made a video specifically about that for my UFT members inside our on demand section.
Since a common problem is winning at one level then trying to up the stakes and experiencing losses so having to go back to the previous level. This is actually a mental issue more than anything and I show how you can scale and not have these mental issues.
Final tip, a good way of looking at this at the start is like it is a video game.
Start with whatever bank you feel most comfortable with (200GBP minimum) and then look to get to the next level.
And at the start focus on LEARNING rather than trying to hit xx profit per day/month. (Another big newbie problem)
If you focus on the learning the money will inevitably follow.
Do not try to run before you first learn to walk!
And that wraps up this series of Football Trading Yoda lessons!
I hope you enjoyed reading as much as I enjoyed writing these. If you missed any you can start again at Lesson #1 here.
As you might have heard I will be opening the doors for new people to join my premium program Ultimate Football Trading very soon.
So if you want to get more news and information on that then submit your email address below.
I am really excited to take some of you to the next level with your football trading.
HOW TO MAKE A 2ND INCOME FROM FOOTBALL TRADING!
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