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Wednesday, 19 October 2011

Money - The reason or the tool?

A lot of my time as youngster, from about eight onward, was spent playing cards. My father taught me how to play 5 & 7 stud, draw poker, Brag, Gin, Crib (one for his knob) and many other games, Newmarket is a particular favourite. Notably, when we played them, all these games involved some financial element. My father knew the rules but not the subtleties, the time soon came when my pocket money was regularly boosted by 5p a point Gin or sniffing out his bluff in 7 stud, his favourite game.
This early grounding ensured my enthusiasm for the game continued and much of the last decade has been spent round a poker table in Fulham along with numerous trips to Vegas, taking in the World Series.
As one does, I immersed myself in the game, playing, reading about playing, reading about other people playing, watching people playing etc, etc. Throughout all I read and learnt, there was one message that continuously came through, starting all the way back from way before the game became mainstream and popular: Money is nothing more than the tradesman's tool.
All of these players acknowledged that money is necessary to live but, in plain terms, money was the tool that allowed them to live the life they wished to, which was sitting round the table playing cards.
Remembering this, led me to ask myself the question above, the reason or the tool? Am I trading because I love trading, because I just want to make money without having to work for someone else or because it affords me the working hours and spare time I want? All three is the obvious answer but ask yourself the same question and answer honestly, that answer might give you a greater insight and help focus even further on what you want your trading to achieve.

Monday was a tough day on the nags. I broke one of my own rules and rightly paid the price.
The Start v Brann game went nice and smoothly for 100%. The Halmstad v Djurgarden game ended with a scratch at 1-3.
Much better on the nags yesterday, 14.73% added. A little gizmo has now been employed to ensure Monday's mistake is not made again. Scratch on the Leeds game after pushing the green on the win. Unusually, the Blackpool trade was left to run and a very late winner captured 100%. I arbed the 1-1 and draw and backed 2-1 and 3-1 in the City v Villareal game, both of which delivered a decent profit, so a good day all round.

One pick for today - Leicester v Watford. Much as I love the Glory Hornet Boys (I was born in Watford), they couldn't win an argument right now.
Really enjoying live, in-play tweeting. Will be on-line for tonight's CL games...

Whatever you trade, stay green.

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