Was it Something I Said?

A certain CEO of a multi-billion dollar global empire (not Cassini) has again deleted his trading blog and, this time, his Twitter account too. Most likely he came to his senses, realising that earning obscene amounts of money as a corporate CEO is a lot easier than throwing in the "job" and living off his wits as a sports trader, earning about 1/1000th of a CEO's net salary.

If it was something I said then I am truly...... glad I said it. I don't write articles to suck up or gloss over. It's part of what I am. The subtitle of this website is "Helping sports traders to achieve their potential" and you don't help people by telling them trading is easy, that anyone can do it and that everyone is a winner.

Assuming the average player on Betfair pays 5% commission then if we are "all winners" then we are all still losers to the tune of 5%. If we are all to do equally well then we all break even minus the juice Betfair takes for itself. It's as simple as that. Every profitable winner needs more than one loser to keep their head above water.

If I think someone is talking out of their A, be they traders, vendors or teachers (unqualified) then I will say so. I know that I have ruffled feathers without mentioning names and yet, I have seen more than one trader, vendor or "teacher" get upset. Why is that, if I don't mention any names? A guilty conscience?

Not everyone can trade. In fact, most can't. Anyone who says they can take a random person off the street and make a trader out of them is lying. Look at the Million Dollar Traders video again. The majority hadn't a clue, even after training. The ones that could trade didn't make a fortune. To be paid off, a big winner needs many losers.

Trading, as with face to face gambling such as poker, is an unpleasant game. You are there to clean people out. I had no real friends in the casinos in which I played poker during the 1990s. I knew poker playing actors. I knew Sir Clive Sinclair. I knew Victoria Coren. We were cordial. We put on our masks. We went to work trying to mug each other. When I see a new bot getting cleaned out because its programmer is incompetent, I don't think "Poor chap", I think, "I want some of that." Just as I did when a beginner or tourist sat down at the poker table.

The only time I am considerate is when I write articles or books. In these situations I am a teacher (qualified - graduate teacher at university and adult education college) and I am attempting to impart knowledge without handing over my edge on a silver platter. If I don't think I can produce content that is any good enough for you, the reader, then I don't bother. You won't find me making a scalping video and then saying, "See what I did? Easy! Now go away and replicate what I did." (Whilst I delete the videos that didn't work out the way I wanted them to.)

Another crossover I notice from poker is that many people like to boast about their winnings but never talk about their losses. Rarely do you hear people talking about consecutive losing trades any more than a poker player talks about losing runs. No, all you hear about is the winning. You don't sell product if you list its failures. Negative advertising doesn't work in this game.

Trading blogs come and go but mostly go. There is no hiding. You can always use the WayBack Machine to reminisce about those who fell by the wayside. Especially if they make a come back then you can point out to them all their previous losses that they have decided to ignore. I'm looking forward to a new blog, maybe by someone who has now moved up through the boardroom to become the owner of a multi-billion dollar global corporation. And yet, they will always have that yearning to be roughing it with us plebs.

Some feel they have a boastful duty to tell everyone that trading is easy. Maybe they have something to gain (financially or egotistically) from saying so. I feel I must tell people how difficult it is with 90% being the often quoted figure as the failure rate for traders. Strange how those who tell you how easy it is to profit from trading never give you that figure. Why not ask them why?

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