Red Is Bread

Yes, I want to talk about red tonight. It the colour none of us are interested in. We all hate red don't we? As bettors and traders, red is our least favourite colour, but is it a case that under some circumstances red can be good for us?

Well, if your testicles are the colour of a tomato then I'd have to say, no, that's not good.

If the whites of your eyes are red, then I'd also suggest that's far from ideal. Perhaps you need some sleep.

I suppose there's no way that we can say a lifetime's P&L is a good thing either. It's certainly not something I would be happy about.

So what am I talking about? I'm referring to red in certain situations. I'm talking about making an active decision to take a red and then to move on. For me, this has been one of the hardest lessons to have had to learn, but it all comes with a dispassionate disposition towards your trading. If you're able to iron-out the highs and lows of trading (emotionally that is), so that you're not too affected either by wins or losses, then taking a red won't hurt too much - and in the long run it will help to move you into profit.

I took a red tonight. A situation went against me, and I am pleased to say that I had no hesitation in closing my position, before moving on and looking towards my other markets. Without trying to teach anyone how to suck eggs, I'd humbly suggest that until you are able to do that, accept a loss and move on, then it's unlikely that you'll be in a position to become profitable on a long-term basis.

It's one of the hardest lessons to learn, but I'd also say that it's one of the most important lessons. Take the hit, dust yourself down, and carry on.


Football: £94.19 | Tote: |  Total P&L:  £94.19 

 

Football Showing 1 - 5 of 5 markets

Market Start time Settled date Profit/loss (£)
Football / Reading v Burnley : Correct Score 17-Feb-12 20:00  17-Feb-12 21:58  28.76
Football / Reading v Burnley : Over/Under 2.5 goals 17-Feb-12 20:00  17-Feb-12 21:54  7.69
Football / Inter v Bologna : Correct Score 17-Feb-12 19:45  17-Feb-12 21:38  50.46
Football / Hoffenheim v Mainz : Over/Under 2.5 goals 17-Feb-12 19:30  17-Feb-12 21:20  -43.18
Football / Karlsruhe v Cottbus : Correct Score 17-Feb-12 17:00  17-Feb-12 18:50  50.46