Hello, and welcome to the F t Yvette
slip and nuts and bolts of football trading
podcast
episode 2.
This series sits alongside, my Youtube series are
the same name.
That can be found on the F t
income, Youtube channel.
And if you like the videos and subscribe
to the channel on Youtube, you'll make sure
you do not miss
an episode.
So last time we talked about,
our personal traits and
sorting that side of it out. I'm gonna
talk a little bit today about things that
we can control and cannot control. I'm gonna
start you off with a little quote,
the chief task in life is simply this
to identify and separate matters so I can
say clearly to myself
which are external or it's not under my
control and which have to do with the
choices I actually control.
Where then do I look for good and
evil? Not
uncontrollable external, but within myself to the choices
that are my own. And that is a
quote from
pick
PCTETUS.
And it kinda sums up
the trading world,
identifying the things that we can and cannot
control within our betting trading environment,
is really important.
Humans by nature
like to be in control or or or
have a feeling of control. We We tend
to develop a feeling of control even over
things we have no input to and no
control over. Is in our Dna being in
control, mitigate
the stress response.
If you feel out of control, your stress
levels go up because you can't
control anything. So
we always try and put ourselves in a
position where we can control things sometimes completely
irrational.
But having control over that, for having that
feeling of that control, it mitigate that stress
response,
it does help us facilitate better cognitive function.
It helps us to
make better decisions.
But what we need to obviously is identify
what is controllable, what can we actually control
and this again is in inbox or walks
life, but when we're betting trading, what can
we control and what
We can't control because then we can focus
our areas on the trading that matter the
most the ones we've got control over,
and that the way that you're gonna increase
your profitability and get
better returns on what you do,
where your... There's another same where your attention
goes, so your inner energy flows
and the same of that is true of
of
time and expertise. And there the the 3
key resources, attention time and
expertise.
And when you focus them, that will influence
how well you perform as a trading book
I read, which I cannot recall. I I
couldn't find.
I've read so many books. I couldn't find
it, but
where they were on Kindle, I've probably deleted
it. So Apologies to the author, but but
it mentioned a process of within this topic
of
control... Cia, it's called the Cia approach, not
the Cia in the Us they're gonna come
and knock in your door,
but control influence an accept. So see for
I can control this. I
for I can influence it and a
for accepting that I cannot control this at
this time and and a for me is
1 of the big factors. You just need
to look in football chat rooms
football,
forums, blogs, whatever Twitter even,
or x, whatever it's called now.
Where people wins about things that they cannot
control, be it far,
referee decisions, whatever it may be. And and
the same goes actually in people who are
planning their way to trading. So I've talked
about this before people who are worried about
premium charge
before
you know, they're miles away million miles away
from it. So what you can't control that
them minute. So it's it's further down the
line. So why I put your time and
energy into it,
now now
and your attention, You know, those things that
we need now, why put it into
stuff down the line.
Interfering in other people's business?
Again, you can't control what other people do?
So why interfere with it? What what do
you gain from it? What good is it
for you? What what are you getting out
of it? And as I say some people
like to do it to feel superior or
whatever. But but what's it actually adding to
your performance. So for me, I'm interested in
in you listening to this to make you
a better trade that's what I want. That's...
That's what I can control what I put
out. I can't control how people use it.
I can influence that to an extent.
But I also then for me, I have
to accept that people won't use it. But
what are you doing for yourself? What are
these things that you're doing and then we
should identify them pretty damn quick and get
rid of them. So when we are betting
and trading, what are the elements we can
control and influence?
So in in the Youtube
too, I started talking about the skills and
things we need as a trade trader. We
can learn to recognize those. We and control
work. We can learn the skills that we
need to progress,
and we can stay focused on the development
of those skills.
As opposed to focusing on the money,
which should purely be
a result of the
implementation of those skills and the processes we
go through. So we can control all that.
It's a human choice. We can control it.
We can influence it.
We can control
where we want to end up. We control
that the the... You know, we took a
lot on on our training courses of goals
and goal achievement, making them manageable
measurable,
achievable,
a natural pro of setting goals. I go
back to the first ever seminar I did
was 20 12, and I talked about that.
When I when I started. 1 of the
first things I did was write a list
of goals,
and at that time, most of them were
financial. I'm I'm not gonna deny that.
But they change as life goes on.
But
if you've got clear goals that you're... That
keep you focused and and they tend to
that it tends to be a positive focus
because we're heading in the right direction.
It's something you can control and influence them
really really help you.
Identify the amount of risk that you like
or that you'll be comfortable with,
you know, that that again is purely within
your control, How much money you allocate how
much money you put on each
trade or bit. Everything there is in your
control. What you're comfortable with? It should be
when you start, So it should obviously be
money you can't afford to lose, but something
that you'll be comfortable with.
Staking.
And then what we can... You know, we're
gonna get to a level life love talk
about this a lot as well of
Let's say you start off at 50 pound
steaks and you go really well you get
up to 500 pound steaks. It'll have a
different effect on you, and you over going
through that period, you'll be control how you,
react in that in that and how in,
you know, in that that increased liability, that
all of a sudden new loose 3 or
4 bits at 500 pounds. It's a lot
of money,
but you've been you've been through it in
a controlled way you've controlled here You've got
there and hopefully, you've then been able to
control those emotions to But initially, it's identifying
that what is where are you comfortable now,
and that's where you start. I always like
people to feel slightly uncomfortable placing this stakes
because I want them that feel of
it not just being I well it doesn't
matter. I want it to matter a little
bit to them so that they
I think it just spur people on a
bit.
You can control how you execute your trades
at something you can do absolutely immediately.
How you go about your betting,
identifying what strategy you're gonna use
executing it. That's... Everything there is in your
control and and in
in the in the Youtube session Somebody mentioned
the phrase,
taking responsibility. There's a great thing in the
in betting trading well for people not taking
responsibilities.
It's somebody else's fault. Is the tips fault.
Is the referee fault. It's Faa fault.
Ultimately,
only 1 person. You choose to subscribe to
anything. That's purely a choice. You choose what
you subscribe to. That is a choice.
You choose whether you're gonna use it or
not That is a choice. You choose whether
you're gonna use it properly or not. That
is a choice. You choose how much money
you're gonna put into it, that is a
choice. You choose how much you're gonna bet
per game. All these are your choices. Nobody
is coming around your house, holding a gun
to your head, saying bet on that. It
is purely
controllable
by you what you do and how you
go about it and unfortunately,
90, like don't think it is 99, but
high 90 percent of people
don't go about it anything like the right
way, and they fall victim and easy him
to
the people who wanna... Who wanna
you know, exploit it.
You can
control
how
how you
act on the information you've got. So
again, this comes down to a bit like
execution, but
if you are
trading in play, for example,
and
red card for there is a prime example.
You can control or how you react to
that? How you... How you're gonna
establish your trading execution to what you're going
to do.
All that... Everything there is your control. You
can't influence the red card,
you can accept the red card. You can
control what you do around it rather than
having this, like chicken light panic running around.
I don't know what do I? What do
I do, what do I do, which I
see
very often.
So
all those things are things that you can
control
you're in sole control of,
and
having that control should enable you to
actually profit because you you... They're all... They're
all
decisions that you've got to make on how
you're going, a lot of it can be
done before you even place a trade, but
obviously, they're having that trading plan sort of
set up, you can control that. How you're
gonna execute it all that. You've got it,
and you've just got to act on it.
Over a period of time.
So there's always actions that you can take
that improve your trading performance no matter how
bad it seems no matter what you've done
in the past, no matter what score scarring
you've got. But again, it comes down to
firstly, you will take responsibility for your performance
of what you've done and why you've done
it,
you know, you can control things like fo.
I know it can be hard.
You can control reacting to what your peers
are doing. All these things. So I I
know these elements are hard.
But the first thing is knowing what you
can and cannot control and accepting it and
taking control of your responsibility.
The the uncertainty of the game we're in
will always mean there's events outside you control.
The 1 certainty is you cannot win every
bit. There will be losers.
And you can control how you respond to
that, and you can throw the toys out
the frame. You can give up you can
shop and change systems,
or
you can take an adult view of it
and go... Actually, there's nothing I can do
about that. And I know variance happens, and
we've loads of stuff on the website about
variance and estimated losing runs, understanding all that
again, you can control whether you learn that
and and do anything with it or whether
you just ignore it and don't do it
and 1 of my 1 of my great
frustrations as somebody trying to teach people out
to do this stuff properly is people go.
Yeah brilliant love that, and then they never
revisit anything you always be revisiting stuff.
And remember in the basics, you know, and
Gal folks always get the fundamentals right and
and there's nothing different about betting and trading.
Get your fundamentals
right, keep on top of them and then
apply them to everything you do, and you
will be much better.
So some things you can... Just so there's
lots of things you can control. There's other
things you can just control or how you
respond to them. So how you how you
respond to a loss. You can't control with
the loss. You can't control being in the
loss. There's nothing you could have done because
you've done everything else correctly. You've put the
bet on you followed plan but it's... It's
it's ended up in a loss, and they
will happen
every single time there'll be losses. It doesn't
matter what you do.
But you can control how you respond to
them, so you can start getting down in
the dumps. You could chase losses.
You can give up and change your system
or
you can go, well, that's part of the
process and control that.
You can't control, you know, as you take
that forward, you can't control drawdown downs, You
know, lot, A lot of people want a
scientific number on a drawdown. We can only
ever do estimates. So
we can look at what something is done
drawn down before and it might be 25
points
and I can show you and go at
over 10000 bets. This has only lost 25
points. That doesn't mean it's only if gonna
be 25 points. There will highly likely be
a time when that gets beat and it's
25 30, 35 points.
But you can control how you respond to
that because it's part again, it's part of
the game. And if people do
think that that these numbers are gospel locked
losing run, You only gonna have it even
money is 8. The biggest draw is 20
points
3 to 1, whatever it may be.
Well, it isn't, and you've got to be
prepared for more, and you've gained, you've gotta
act... You know, when they... When the bad
runs happen, how you respond to them.
Is is really key to how you're gonna
go.
You can respond to missing out on how
you respond to missing out an opportunity. So
I don't know what might Let's give you
an example. I say... Let's say you had
the opportunity to join F fps ultimate, and
you didn't for whatever reason,
and then 8 months later, everybody is Going.
Yeah. I had great returns. I did this
that and the other. Can, you know, we
see it a lot in the crypto market.
People talking about how brilliantly they've done and
other people going much I'd got in to
that
You can't do anything about it. You... What's
happened? You can't control anything in the past.
You can control how you respond to it,
and you can con... Try what you do
forward.
And it's really, you know,
really
down to you again. So
try What I'm trying to explain here is
so much of what you do is down
to you, and unfortunately, you have to man
up a little bit.
Or woman up in this day and age
I better say or person up or he
her, they she her at, whatever you've gotta
say,
in this day and age,
to do the bits that suit you, it's
got to suit you and you've gotta take
responsibility for it.
Quiet markets, you know, I've I've I've talked
about this so many times. A lot of
stuff I do is entering off kick off
20, 25 minutes.
Games have early goals. I can't control it.
I can't influence it. I can't do anything
about it all I can control is how
I respond to it. And a bad response
is to go and find games that I
shouldn't be involved in because I want to
have a bit. You know, the boredom causing
me to go and have... It just happens.
That is it.
Being wrong. I've talked about this in the
in the live show.
I can't...
I have views on football.
And they're gonna be wrong. Sometimes. I thought
Italy, it just had the euros. I thought
Italy,
would beat
Switzerland. I thought they've beaten them comfortably.
Just an opinion. That's what I thought I
was horribly wrong.
That's just what it is.
There's nothing that I can do about it.
I can influence it. I can influence the
game. I had an opinion. And we're gonna
get them wrong. Sometimes we will use data,
and the data will say 1 thing, and
the data will get it wrong. That is
what is gonna happen. There's nothing we can
do about it. We can't control it. We
have to accept it. We can control our
response to it.
And you know, a big a big 1,
I've I've talked about not not performing as
well as your peers. That's...
It's it's a thing because we can form
community so quickly now online with things like
Twitter, Instagram, Facebook.
Everybody wants chat rooms forums and and as
human beings, we crave,
you know, being social, that's why. That the
pandemic lockdown downs are difficult for people because
you you kind of were cut off. It's
in... Again, in our dna to lia with
people socialize with people. I like socializing with
some people I like a lot of time
on my own.
I like, prefer the time on my own
to the socializing these days.
But, obviously, when you're doing that, we are
living life very much through a very narrow
lens these days. You know, I feel terribly
sorry for kids,
growing up or I just can't get away
from this. It's 24 7, the ability to
compare yourself to somebody.
You know, I've said, back in my day,
we'd finished school on a Friday at 03:30,
and you wouldn't see them,
but maybe the odd friend, you wouldn't see
them until Monday morning.
So you had that downtime away from it
at break, and you were with your family
and doing other things. Friend Now, of course,
they're all glued to their phones and devices.
Their friends are bombarding them 24 7 videos
of people living great lives. And and the
gambling world is exactly the same. There's some
absolute d digestible characters in the gambling world,
and I'm I'm even talking some of the
namely and there'll be people who may say
that I'm d test and that's absolutely fine.
But it's it's
horrible when a lot of it. So much
of it is pointless,
and you can control whether you involve yourself
in that circle, whether you wanna be part
in that circle whether you let other people
influence you, or comparing their results to yours
influences you.
You know, it's... I could give examples, but
I won't... But I find it quite comic.
You know, you'll see people post results. And
and I know when that goes up that
someone else is gonna post results because obviously,
they wanna have a little bit of a
pissing contest and all look at me.
And and it just repeats. I just find
it all a bit too bit childish and
I'm using. Really.
People who post those people who don't post
a losing so they just give this air
that they win all the time.
And if you're if you're drowning yourself in
that all the time, and you're not winning
or you're on a bad run,
what you're doing to yourself. You just you're
just hammering. You just putting weights on your
head that are weighing you down.
And it's all controlled, but you can take
yourself off it, You know, I know their
stuff has become addictive in the algorithms.
It is really simple. Every phone has got
an off button. Every browser of windows got
close.
You do not need to do this stuff.
You know, 1 of my 1 of my
things that impressed me most in life was
my boy when he he said he wanted
to go to Cambridge and
he
decided
that that's what he was gonna do. And
so I talked about. He made a decision.
That's what he was gonna do.
And from
to do it, obviously, he had to get
really good a levels. And from when he
started his a levels, he just deactivated
all his social media.
You know, and in a teenage world where
it's
a sort of steroid to them.
You know, he just he just went no.
That is that is a massive distraction to
me. And he got into Cambridge and I'm
going back a while now and I said
to him, did,
you missed that he said, didn't miss it
and hasn't really gone back on it,
because you actually realized you don't need it,
and I maintained that if it all blew
up tomorrow.
The world would be a better place, and
nobody would actually. We'd all start doing something
else and nobody would miss it,
but it's just become like... It's become like
a drug. It's just become a junky thing
for people.
And it's really, really bad for you. So
there is just stuff that you can control,
and that's the sort of key theme of
of it. And then there's other stuff you
can control your response to services so you
can't you can't influence penalties, penalties save, referee,
you know, referee giving goals or dis goals
like the liverpool goal at spur. We can
jump up and down about it if we
got a bit in the game. We can't
do anything about it.
They are inherent to what we do. They
will always be there. 1 of the phrases
I've used to the group's I'm mentor is
you will see everything
over the course of thousands and thousands of
trades, you will see everything you will have
games that are, you know, that 1 of
my biggest ones was laying over 3.5
I was Neil Neil on 89 minutes, and
I lost
and you look and go wow. And that's
why I don't... You know, you can control
whether you every result every goal going in.
Some people like it. I don't see the
point in it. I don't see what you're
adding to yourself.
Again, but again, you can control that. You'll
see everything you can do your best to
avoid
the areas that give you discomfort
and the negative impact they'll have on your
minds. It on your approach, things. You can...
A lot of that, you can control,
and you can develop... Or... And and there's
bits that you need to develop to be
comfortable with so bigger stakes something you need
to learn to be comfortable with bad decisions
from referee, it's something you need to learn
to be comfortable with.
And once you do that will increase your
chance is of maximizing your returns. But the
the key element really from this 1 is
to
start to identify
what you're good at, what you're not good
at, work on the bits that that you
can do.
Identify the bits that you've really got control
over,
which will be a lot more than you
think,
assess you self with how you handle those
situations and where it could be better,
and what little
what little changes you could make in your
life to make them better.
And you will become
a much better trader with all these things
that, you know, it keeps saying it's if
you only if you want to do it.
It's only all these things. You will only
make these choices. You will only do these
things if you really want to do it,
or you will make excuses put up barriers
to why you can't do it.
And you won't
you won't be as successful. So if you
go back and listen to this and listen
to the sort of things I've listed about
the things you can control, make some notes
and then apply that into what you're doing.
I am certain that you will,
improve your betting trading performance and that is
solely what this, whole series is about. I
will back be back with the next 1.
After we've done the nuts and bolts, Youtube
3.