Monday, 11 May 2009


I just want to start off by saying thanks to everyone who makes any kind of comment to me on my blog or via email, whether it's positive or negative. I really appreciate when someone comes along and congratulates me because it makes me smile. But I also appreciate when I receive someone else's opposing opinion or negative feedback, whether I like it in the moment or not, I accept it, because it's purely from someone else's perspective, and wisdom comes from many multiple perspectives.

When I talk about 'Oh I made this this week', and I don't appear to be happy with the result, that's purely because that's the realm I'm working in right now. I had a friend tell me today about some guy in an office saying he 'only' got half a million bonus this year, but looking from a different perspective, it's just the realm that guy is living in. I have set targets (high ones) and have partially become desensitised by the numbers; I think it happens when you are used to a certain outcome. I am slightly worried that I have been churning out the results over the last couple of months, that any kind of slip up in momentum would really affect my confidence. That's where some of you have come in and jerked me back into reality and put things into perspective. I have a life coach, a mentor to me. I've learnt so many things from him and if there was one thing that has come from earning all this money, it is the ability to afford my life coach to completely better myself as a person, to have a purpose and know my journey is a good one! I've become so aware of myself and I love it. I strongly recommend a life coach worthwhile, someone who you feel you connect with, someone who you deeply truly want to be like. If I all of a sudden don't earn any money doing this, I'd much rather save the money I have made for the coach than go on a holiday for example! I feel truly guided to where I want to go; having a purpose in life is the most important thing I've learnt from him. I don't know how long I will stay trading on Betfair exchanges, until it feels right to move on I guess. It's hard for me to say I have a real passion for it, more something I feel I am naturally good at, and because I don't feel like I have a passion for it, I don't think I'm possibly getting the most out of my life! I don't know what 'job' I could do that resonates with my passion, but I sense I will find out soon! Peter Webb is definitely someone who has real passion for trading, if you've ever met him, you'll know you get a sense of that as soon as he speaks about it, and the best person you could possibly learn from is the guy with the most passion for whatever it is you want to learn.

So anyway, back to trading. I had a tough and stressful week last week, with a fever and frustrating problems with my computer, my confidence dropped quite significantly, and it showed in my trading. I was aware my confidence had dropped, but because I wasn't feeling very well, it felt almost impossible to drag myself out of it! I feel better now and I'm back to picking up my confidence, I have my computer back up and running smoothly and I aim to crack on with my trading and learn a few new things. I'm sure most of you know that for a couple days last week there was someone backing horse's with large sums of money on favourite's unpredictably. If you were 'screwed' over by them, don't be angry. I think those events just don't happen frequently enough for someone to be expecting them and to therefore learn to trade around it. Hopefully he lost all his money and doesn't come back! If your not sure what I'm talking about, basically there was someone repeatedly backing favourites with between 20 and 30 grand, I think over two days, which just through people off their mark and caused confusion and uncertainty in the markets. It definitely didn't help me! If it happened all the time I wouldn't mind, because you can learn to adapt to changing markets.

Since last Monday:

Trading on Betfair, is I think, the biggest mooching career there is. You take and (edited:) don't give much back compared to most other careers paying taxes! Not even direct taxes to contribute to society. I have to say, at the moment I don't feel terrible about this, when I should, which is bad, but I have been socially conditioned this way. Trading definitely does give me great feelings though, making a great intuitive trade feels awesome, I think this aspect of feeling great partly keeps me so motivated to stay dedicated every day to it.

I will make sure I reply to comments and emails over the next couple of days now that I'm feeling better. I was poorly for about a week. One of the reasons was because I worked even though I was unwell; I always feel I have nothing else I could do productively, so I might as well just trade. Thankfully it wasn't swine flu!..., and next time I'm feeling poorly I will make sure I just rest. Looking back it would have been the best thing to do.


leonthefixer said...

Hi Adam, interesting post.

Have a look at my blog, as you are actually giving a lot back but perhaps you just don't realise it.

DoctoreT said...

you are a true inspiration! keep up the good work :)

Anonymous said...

I think over 7k is still worth it Adam! Takes me about 7 months to earn that, lol.

I think with trading sports exchanges so easily you would have good skills and personality to crack the bigger markets like Forex or city trading, maybe you should try them when you do fancy a change. If you crack them you can retire by the time your 30, then you could go live on a big yacht with supermodels bringing you drinks!

Anonymous said...

Hi Adam, what do you stare at all day when trading? Is it the enhanced ladder that takes up all your attention - anything else? And what are you looking for when you focus on the favourite? Bless you and thanks, Roger

Anonymous said...

dear Adam, I think your honesty is truly refreshing. Can you please tell us, in this last week, what was the size of your smallest stake for a trade, and what was the size of your biggest? Thanks much, Len

Francis Leavey said...

Hi Adam,

I particularly enjoyed this blog entry. I remember many years ago sitting with a student friend of mine - I was studying Fine Art but the guest lecturer sounded like it might be an interesting experience. The man began by saying that he was going to tell the assembled crowd the most important lesson in life. Everyone had pens at the ready waiting for some magic formula that would ensure they excelled in the business world.

His lesson was - 'It doesn't matter what you do for a living once you find your passion in life.' He was met by lot of blank 19 year old faces :) He went on to say that his passion in life was Salzburg Cathedral. he knew everything about it, loved it, had written books on it. Again blank stares from a crowd whose passion was getting drunk at the weekend and trying to score a girl :) It was his belief (and I believe a correct belief) that regardless of your job, if you felt passionate about something, it would make up for what might otherwise be a humdrum existence in the office or wherever you may work.

I never forgot that 'lesson'. I managed to track him down many years later and extend my thanks to him. (He still loved the cathedral). Perhaps you are in an enviable position in some ways Adam in as much as you have a skill which allows you to earn a good living and affords you the chance to pursue/find your own passion whatever it may turn out to be. I wish you well and admire not only your trading vision but your, shall we say, 'holistic' vision on what a life should and could be.

As for me, a novice trader, my passion is music and songwriting. I can't sing for nuts but heck there's nothing I'd rather do than get lost with the guitar or piano for hours on end :)

Best wishes,


thetennistrader said...

Hi Adam
A lot of people me included are very interested in how you are achieving your results paricularly in a difficult mraket like trading horses. You mention a mentor. But are there courses? And do you publish your techniques anywhere?

Adam Heathcote said...

Hey leon, we have already spoken about this ;) To everyone else, I just didn't explain myself very well in the post.

Hi DoctoreT, cheers!

Hi Anonymous, yeah I might consider doing a crash course in forex trading soon to see what all the fuss is about!

Hi Roger, I stare at the enhanced ladder screen, predominantly staring at simply the numbers in front of me, but I also look at graphs on the enhanced screen as an indicator occasionally. I take a look at the Betfair graph once or twice during the build up to the race to see what's happened.

Hi Len, cheers! My smallest stake was probably £100 and my largest probably totalled £6000.

Hi Fran, that's a cool little story, thanks for sharing it.

Hi tennis trader, most of what I do isn't really a technique, it's just judgement about what's going to happen. There is a course, visit the Bet Angel website.