Common mistakes when trading sports finance
With respect to all, in this article we will look at the most common mistakes when trading sports horse racing. Of course, you identify with some of them, so we hope you don’t comment on these mistakes anymore, and if, on the contrary, you didn’t make them, I hope that you know them and that they do not reach your work days.
Un-closed trades The most common mistake is the one that can be the most catastrophic, it can bring your account to zero in minutes, even seconds. The top of the errors starts by exiting an operation you did before the race to close it when the race already exists. This is a classic mistake, and it comes up a lot because we usually work on Lay’s side, and if it’s not a favorite horse, we think we have the opportunity to close the operation because the horse won’t win. Imagine a situation: you use risk 10, you enter 9 quota on Lay, the race is about to start, and quota 8 (it’s time to close), but you decided that due to the instability of quotas and that they have more than 10 horses, this is not will win, and that at some point the fee will rise to close your transaction without any loss.
Price Chasing Another common mistake is price chasing. What do I mean by chase? Well, in many cases you will have the feeling that your trade entry is far away and suddenly it will not be equal, so you will be tempted to bring your entry closer to where the price is currently. Ticks are very valuable and as you approach the entrance, you leave the safe area and situation that suits you best. Let me explain, and this is what we must consider in all types of trading. In these markets, you need not only to know where the price will move, but also to conduct business in the best possible way, that is, take the prices that you consider to be good business, and not only take any price for entering into an operation. You will definitely understand me when you are already trading. Check here is the best Sports betting
Changes in rates
Rate change Third, we will talk about rate increases. Trading doesn’t always go in our direction, losses are part of our business and when we don’t know how to accept them, the darkest moments come and sometimes these losses can be very small, but they change everything. So, looking for the type of expiatory operation (or it may be the same initial operation), we begin to disproportionately increase the rate, increasing the risk and many times without making a profit. Keep the plan and initial record, and do not make changes that are not foreseen in the strategy.
Anxiety is another important factor – time. We often find ourselves in a race a very short time before it starts, which is almost the end for pre-trading. These bad decisions can compound our losses if we act energetically and without the necessary foundation. It seeks to be associated with the entire quota movement event from the very beginning, that is, after the close of the previous race. This will keep you connected to the situation.
Quality is better than quantity
Quality is Better than Quantity Precompetitive trading is very slow, unlike conventional sports. Although we will have many races a day for operations, we will only be able to participate in a few. For instance; A stockbroker has hundreds of shares in thousands of companies that he trades daily, but concentration is what he thinks is most likely and can only make a few trades a day. This is a financial market, many options, few solutions. So, you should be aware of them and know that with very few races, but well done, you can get a very good percentage of your account every day, and it will also be easier to maintain consistency until you fall. into these typical mistakes of a novice trader.
These are the most common mistakes, if at some point you feel that you are falling into these traps, come back to this article and remember the arguments why you should not get carried away with these situations, suddenly you will find the answer to the step to follow to improve.