Why do most football traders lose money?
- Is it because they make poor trade selection?
- Is it because they use poor strategies?
- Is it because they play too many games?
- Is it because they don’t always bet with value?
Well... all of those certainly don't help, but the main reason that most football traders lose is because of poor bank management.
Many traders can pick winners but can’t actually make money from their betting.
They will probably go for odds-on shots and can expect most of them to win, but a high strike rate doesn’t mean an overall profit.
The first things to learn for any newcomer to trading is how to control your bank, how to keep it safe and how to make your money work for you.
It is not about picking winners or having lots of trades, it is all about bank management. If you can crack that part of it you will stand a great chance of succeeding in this very difficult game.
- Going in with £50 on one game and then £500 on the next will ruin you pretty damned quickly
- Using 50% of your bank any any one game will be disastrous
- Doubling up your stake after a loss or after a win will set you on the road to despair
- You don’t have to trade all TV games; it will only set you up to fail.
All of these are no-go areas for a professional trader. Good bank management is your key to success!
This is down to a good planning regime; setting up your bank and staking strategy, then sticking to it with great discipline. Good bank management ensures you never lose your bank and that you don't put any extra pressure on yourself. You certainly don’t need that!
- Make yourself a trading plan each day and do not deviate from it.
- Stick to your pre-determined staking plan and do not alter it.
By doing these, you'll increase your chance of success and you will feel so much better about yourself.
Football is just a game, but making money from it is within the grasp of everyone.