BUSINESS ERA

While some people ask how easy it is - a trade at the market, and ensure their lives, we provide an example of how to secure their lives by playing on the races, ie, making a bet on the horses participating in races? Here is a story about Dalmane Ernesto - a man who has achieved amazing success, bringing in the horses for the past 35 years. Some of the principles that helped him achieve success may be applicable to the professional trade market. The following text includes excerpts from the article William Grimza "Magic chances," published on 3 June 2001. in "New York Times.



This Wizard of chances, "Ernest Dahlman, may be the most successful player in the racing world. The reason why he is so good is that he has not played in the gambling game." But, according to an article in a hot year, Dahlman could put the whole $ 18 million. " Let's look at some of the basic principles that bring success Dalmanu and see how they can be applied to trade on the market.



1. Dahlman narrows your playing field. It focuses primarily on the races held in New York and California, where he has a considerable advantage. Here he can thoroughly acquainted with all the nuances of local trainers (in whose hands the horse can literally transform) and monitor the status of horses. Trader must make every effort to focus on selected "stable" markets and to explore the subtleties of their individual, rather than jump in the markets or certain market-based instruments, which are not fully investigated.



2. Dahlman specializes in a very specific form of the rates - "exacta", which is his bread and butter. " Trader is best to specialize in one style of trading, or trading strategy. Be aware of the risk / return profile of your personal equipment. Dahlman chooses a strategy which, at first glance, is linked to higher risk, but which offers a good reward.



3. Dahlman pays more money to minimize their risk. It insures your bet, creating a link ( "doubling as a cost, both direct and exacta", which allows Dalmanu to play both sides "). Successful traders are much more interested in strategies to minimize risk than those who hunt for big profits. Stop orders, protective options, or spread strategies - these are just some of the ways to minimize risk.



4. Being "trudyagoy and hunks. "Dahlman said that he earns an average of 3% or 4% on their investment." He never put serious money on the long chance - bid with a high probability of winning. "The point is that there is no 100% guarantee of the first. The constant of race, favorites win only one third of all races. Even successful players tearing more tickets than they are exchanged for money. The purpose is to exchange for money rather win tickets, which would reimburse the loss and still made a profit. This is something that applies to addition and subtraction. "



5. Know the seasonality of its game. Winter - it's my favorite time of year, "he said heartily. "It's more predictable. Horses tend to be older, and you know what they are going to do." If you are trading in commodity contracts, that is an excellent time of year when volatility increases. If you sell options, historically a strong trend of variability to enter the market during the summer. You are more active early in the year or at the end of the year? Be aware of your cycles and market directly to you.



6. To do his daily homework. "Most frequenters Hippodrome loves controversial race with 12 horses with the promise of a three-figure bets" exacta ". But Dahlman, - Anyone who knows anything about gambling, will tell you that I am not a great player. What I am capable of, is to arithmetic. I can add and subtract. Like many other professional players, Dahlman relies in part on the work of others. Daily Gazette "Daily Racing Form" gives him a briefing on recent races and a description of each of the horses that participated in the races. In order to study this a cursory glance. The greater the information received from the analytical leaf ", which identifies and analyzes a variety of factors, ranging from elasticity to track the wind direction, influencing the distance for each horse." He believes that the preservation of its detailed reporting is its greatest advantage. What and how do you keep detailed records of their trading operations, and how it helps you in your future trade?



7. Specialize, specialize, and to specialize! Who ever thought of specialization in the "most important issue for Dahlman - Horseshoe"? Many years ago, Dahlman began noticing something funny for horses equipped with mud spiked - terminals, which some trainers use for extra traction when rain turns the dust into mud. Dahlman noted that even when the rain was not that many horses, it seemed somewhat improved its result by using the first mud spikes. "This is another reason why he likes the" Golden Gate "near San Francisco. It often comes rain and many, initially seemingly mediocre, for the first time the horse put mud and thorns on a good win rate. However, before each arrival date, announced in detail for each horse outfit. Conclusion - find your niche!



8. Believe in your own game and not listen to anyone else! Although Dahlman takes as very precise, naked figures on the speed, "he dismisses the other assumptions on the ballot. Other players reject the theory of horseshoe Dahlman. It does not matter that other people think about your style - it is right or wrong. The question is that you immediately believe in his style and he has consistently followed.



9. Keep your losses to the level of quiet sleep. " In the article it sounds like: "if I keep their losses under $ 7,000, I can sleep peacefully," said Dahlman. "I can return it in one race." Determine your own level of calm sleep.



Here is - the man who managed to retain a balanced life and to raise 6 children, are still maintaining their passion for races. When the game is changed from the spanker to thoroughbred horses, he was able to adapt to new conditions. We have seen that many marketing tools, and there goes the market, the option of arbitration until the soy traders. We saw the changing nature of the market - from the impulsive movements to trading bands. Trader should specialize in one style, but still be able to recognize when it is time to learn the specifics of the new game. Recognize that Dahlman has built a life on the knowledge race. He relies on his experience to interpret the huge amount of information it collects. For new traders, trying to break into this business, it should be recognized that, nevertheless, the experience - the best teacher. Every day that you sell, you get experience. Be disciplined, stay confident. To reiterate one last quote from the article: "This is art with a sufficient number of science, which allows a very small percentage of players to take the money from the crowds of less disciplined players." What is more suitable? For sale? Or to the horse begam?


Linda Bradford Raška
based on lbrgroup.com