Welcome back to the Betfair Trading Community podcast! In today’s episode, titled “How To Get Trading To Pay You Like A Job!”, we’re diving into the world of professional trading and sharing essential tips for achieving success. We’ll explore the importance of continued learning, treating your trading career with professionalism, and the valuable resources available to you within the Betfair Trading Community. As traders around the globe strive to turn their passion into a reliable source of income, our guest speaker will guide us through the necessary steps to make it happen. We’ll also discuss the current global pressures that are pushing more individuals towards trading and how Betfair Trading Community can offer a sense of financial security. Plus, we’ll delve into the crucial differences between traditional racecourse betting and professional trading, with our speaker’s unique perspective on value and serious trading. So grab your notepads and get ready to learn how to make trading pay you like a job, right here on the Betfair Trading Community podcast!
Timestamp:
00:01:36 No barriers to entry in Betfair trading
00:04:41 Gambling without true value, not a fan.
00:07:02 Track and analyze tasks to be professional.
00:11:33 Master’s degree, counseling qualification possible in 1 year.
00:14:50 Keep improving yourself as a trader.
00:18:23 Cody and games: no investment, no completion.
00:20:38 Treat trading like a job for success.
Key Topics & Bullets
- Continued learning and professional growth:
- Importance of continued learning in trading profession
- Resources for continued learning: podcast, YouTube videos, and bedfordtrainingcommunity.com
- Turning trading into a full-time job or secondary income:
- People starting to make profits from trading after joining Betfair Trading community
- Global pressures creating urgency among traders
- Uncertainty about joining the trading community but feeling now is the right time
- Sense of financial security from generating personal revenue through trading
- Differentiating from traditional racecourse betting:
- Cringing at association with traditional racecourse betting
- Highlighting the more professional approach of Betfair Trading community
- Importance of engaging with peers for real learning opportunities:
- Laughable attitude of some traders who think they don’t need further education or community support
- Limitations of podcasts, books, and YouTube videos for learning
- Value of engaging with peers in the industry for continuous improvement
- Distinguishing between serious traders and punters:
- Disliking the betting and gambling approach
- Emphasis on finding value and being a serious trader
- Personal experience with not valuing something properly
- The evolution of Betfair Trading community:
- Impact of software introduction on the community
- Transformation of individuals lacking trading knowledge or skills
- Betfair trading as an alternative option during tough times:
- No barriers to entry based on ethnicity, age, or location
- Similarities between Betfair trading and trading stocks and shares
- Seeking alternative options when a business starts losing money
- Professional approach to trading:
- Importance of putting principles in place for trading success
- Tracking activities and using spreadsheets for accountability
- Differentiating between a gambling mentality and treating trading as a profession
Transcript:
Martin Futter [00:00:00]:
Hey, guys. Welcome to another podcast from Betfair trading community.com. Obviously, with me or host, Trader Martin, I really wanna talk to you guys today about something incredibly important. So I really want people to listen and take in what I’m saying today. I actually believe that what I’m about to tell you, for a lot of you guys, it’s gonna change your trading life. I think if you install some of the principles I’m gonna discuss, it will make a massive, massive difference to your trading. in a positive way, obviously. And the thing is I’ve had a lot of messages from people this week, and they’ve said to me, Martin, you know, I’ve kind of had 2 camps.
Martin Futter [00:00:42]:
I’ve had I’ve had some guys who say Martin, I’ve just started making a profit from trading. Obviously, since joining Betfair Training community.com, I wanna make this pay as a job, or I wanna make a second income from this long term. Obviously, a few more of the global pressures are under at the moment. I feel like people almost feel this heightened state of urgency, to do this. And then I’ve got the people who say mine. I’m I’m really on the fence, or I really wanna I really wanna join the community. I feel like now is the time to get plugged in start to learn Betfair trading because of the reasons you’ve outlined. And the simplest reason I can explain is that when you’re ever worried about money, being able to generate your own revenue, your own income, from something where you can start the business of Betfair trading for yourself as a self employed trader.
Martin Futter [00:01:36]:
And there’s literally no barrier to entry Right? Betfair trading doesn’t care what ethnicity you are, what age you are as long as you’re over eighteen, or where you come from. you know, there’s no bias to it. It’s all it’s all, you know, essentially trading, isn’t it? It’s a bit like being into stocks and shares, the exact same principles apply. So I think it’s really interesting that people are contact acting me in this way at the moment, specifically, and I understand that. You know, whenever whenever times get hard for people, you wanna start to look at other options. you know, if you run a business and your business start losing money, Well, the first thing you should be doing is thinking, what could I do if the business folds? What can I do, you know, x, y, and z And the thing we’re better for trading is you have to put some principles in place. And when you do that, actually, your trading will improve and your chances of success will improve tremendously. So I’m gonna mention a phrase that I’ve mentioned quite a few times both on this podcast cast in my blogs and on YouTube videos.
Martin Futter [00:02:49]:
And it is this simple phrase. If you treat Betfair trading like a job, it will then start to pay you like it. It will then start to pay you like a job. Okay? If you treat it professionally, I really want you guys to think today. Put this back on yourselves. How professionally do you treat your Betfair trading? Now, most people listening will have jobs. Okay? So think about it. If you’ve got a job right now, what do you do in your job that that you consider to be a professional thing to do.
Martin Futter [00:03:28]:
Maybe wear a suit to work. Maybe you look smart. I might not wear a suit, but you look smart. Every job I’ve had, I’ve had to look at least smart. maybe you get up early. you make sure you get there in time. Maybe you get there a little bit early because you wanna seem like one of the cleaner ones or you wanna get a jump on your work and actually be. one of the better workers.
Martin Futter [00:03:53]:
You take breaks, but you do the work. You go home, and then you do it again the next day. All of these things, all of these rituals, all of these routines pro a professional attitude towards the workplace. So how many of those do you transfer over to your Betfair trading? You know, because what I what I want people to get out of the mindset of, is this isn’t a hobby, and it’s fun. I want you to have fun, but it’s not a hobby. It’s not a holiday. Alright. Betting on Bedford is not supposed to be some sort of, you know, when you go on holiday and you might go to an arcade and you blur a tenor on the 2 p machines or ten machines, and you really couldn’t care less.
Martin Futter [00:04:41]:
That’s what people do every weekend when they go into Bedford, when they go into William Hill. And a lot of you guys will have come from that kind of way of betting and gambling before you found out about bet fair. And that’s fine. That’s fine for people who that’s their only intention. Right? I’m not a big fan of it because you know, essentially people often are going in and just putting their money on something without actually having any true idea if they’re getting value or not, which you know, for me as a as a trader who, my whole life, is spent around searching out and finding value. It kind of it kind of is opposite to the way I feel. So I never feel great about people who just go in and punt. The word punt does, you know, kind of describes it, doesn’t it? because I don’t think you think of a serious trader when you say I’m having a punt.
Martin Futter [00:05:31]:
Right? Think of the people who go to the races. They have idea about horseracing and spend loads of money, betting on it. It makes no sense to me because this is my job. It’s is such a it’s such an opposite feeling to me. It’s like, do you remember at school, magnets? You remember the magnets? And when you had it the wrong way up, they couldn’t connect. No matter what you did, they pushed away from each other. That’s how I feel about people who who gamble in the way, traditional way that people think. where you are just literally gambling and hoping that you get lucky rather than pushing a value position and an edge, which is why what I do is so different to that.
Martin Futter [00:06:13]:
And what we do at betfairtradingcommunity.com is so different to that. Then I almost cringe when I hear the word link because I know that people will think that what I do is what those people at the races do. They don’t really the automatic assumption when someone hears that word is not, oh, well, he must be, you know, like one of those traders on the stock market, but on bet their training. People don’t think like that. But in reality, that’s the way I operate. I’m incredibly professional. How am I professional? The first thing I do when I get up in the morning, I get on to betfairtrainingcommunity.com. I go to the football stats software, and I download my selections from my filters each day, and then go through all the prices on there.
Martin Futter [00:07:02]:
I then input all that into a spreadsheet and I track things. every single day. Now, I talked about being professional. Those are some ways to be professional. How many of you guys are putting, like, are actually doing your spreadsheets properly are actually bothering to track what you’re doing. Because if you’re not, I would suggest you’re still a little bit stuck in the old gambling mentality way rather than treating this as a profession, as a job. Now, if you’ve seen my set and forget strategy testing, which is going really well, but isn’t really the point of what I’m about to tell you about it, I’m actually just testing the P and L, and that’s it. I’m literally getting the odds from Betfair, seeing how much profit they make, and It’s accountable, but for me, it’s accountable for me.
Martin Futter [00:07:56]:
I can’t make any of that up. But the other thing is that I really like about it, is that I’m actually inputting this data every day, and obviously Betfair Trainingcommunity.com helps me do that significantly. And it gives me kind of a routine and a ritual and a schedule that makes sense Right? And I can then look at those selections in more detail, but it doesn’t need to be really complex. Now some people have come ex spreadsheet. That’s great. If that’s you, brilliant. What I’m doing, I could teach my five year old to do it in maybe an hour. I could teach an adult to do it in 5 minutes.
Martin Futter [00:08:43]:
That’s the thing. Right? This they’re not greatly complex what I do. You can actually copy what I do from my spreadsheets. I share them. So it’s really easy for you just to copy the exact format. Now this is the thing. Right? Being professional doesn’t mean you have to spend loads more time doing something. Doesn’t mean you to be, you know, sitting there for hours and hours doing these really complex things.
Martin Futter [00:09:08]:
What I’m doing intentionally is something that’s very easy to do. What’s professional about it is my attitude towards it. And that’s the absolute key here. And I really want you guys to take this in. Okay? Let’s say you were starting a new career. would you expect to be in that job tomorrow? No. I I’d be amazed. If someone comes next to yes, yes, I would expect if I started a career, I’d expect the next day to have the exact job I want.
Martin Futter [00:09:42]:
The thing is, it’s the same with Betfair trading. it’s a process you have to go through. And it’s really important that you go through that process because people who try and just because the problem with Betfair trading is the barrier to entry not being there is great because it means inclusion. It means everyone can do it. The problem is it also means that everyone will do it. And most of the time, they’ll start putting money on a quite big steak sometimes. way, way, way before they’re ready. So I really wanted to get out of that mindset.
Martin Futter [00:10:18]:
Let’s think about it. If it was a job, you were thinking about it as a career. Realistically, how long would you expect it to take you to get the job of your dreams? which would be in the case of a bat fair trader, becoming a professional bat fair trader. I would say I started to career, so actually I’ll go through one of the paths of one of the careers I looked into before I became Betfair trader. counseling, right? I wanted to be a counselor. I had counseling when I was in my late teens, and I loved it. And I know I thought I would love to help other people who, you know, have had problems in the past or whatever. So I went through the process.
Martin Futter [00:10:59]:
The first thing was you needed a degree. It didn’t really matter what the degree was, so I went and got a degree The second thing was I had to do this master’s certificate, not a not a full on master’s. It was like a master’s certificate a postgraduate certificate. And that took about a year, then I did that. I think I did that last time. Is that uni, back in my 3rd year or something, because I’ve done 2 years. They let me on early. Okay? But that is extra stud So essentially, already 3 years, really, 4 years, really.
Martin Futter [00:11:33]:
The next thing I had to get a postgraduate diploma a master’s diploma, and that would have been another 3 years because it was part time. Now you can do that in a year. So let’s add it in a year. That’s 5 years. It would have taken me 5 years to become a qualified counselor. Right? Now, There’s nothing stopping you going out and trying to counsel someone tomorrow and charging for it. you don’t have insurance and you could get screwed, but the point is it’s similar, isn’t it, to Betfair trading in a way? There’s nothing stopping you. However, how do you think that’s gonna go? How do you think your business is gonna go? How do you think things are gonna go? I actually gonna be able to do it.
Martin Futter [00:12:16]:
I actually gonna be able to help people if you literally have no knowledge yet, if you literally haven’t done any training, think about becoming a doctor. I use this example at a time. There’s a reason. because I think the route to becoming a doctor is such an important one to look at when we think about a career because of how extensive it is. Right? You obviously have to go to university. You have to have got really good grades to get in the first place. Now now this was true of the doctors that I went to university alongside I don’t know if it’s changed recently, but it took 7 years once they’re at uni. I think it was about 5 years of study.
Martin Futter [00:13:00]:
and 2 years of essentially a placement. And then, you know, so after 5 years, you’re pretty much doing the job a doctor, but you didn’t quite have the qualification. However, that’s 7 years of your life. That’s a hell of a long time, So let’s think about it. Because when you have gone for a career, maybe in your life, maybe you’ve gone for career when you’re young, maybe you’ve got you’ve changed career path. How long has it taken? I’d say In most cases, it will take you a year or 2. Right? If you really wanna change direction, a year or 2, I’m not saying 7 years, but you’ve gotta give it a year or 2. And it’s the same with Betfair trading.
Martin Futter [00:13:48]:
You know, this is something you seriously wanna make money out of, give it the time it deserves. Give it the respect it deserves. Treat it professionally. Right? Continued learning. How many careers, even once you’ve qualified, how many jobs do people do continued learning in pretty much everything odd days. Right? even even when I was working, is it just an employment worker getting people jobs? I had to do continued learning pretty much all the time. Right? Well, the good thing about bedfordtrainingcommunity.com that is your continued learning. So, you know, even being part of this podcast, listening to the podcast, watching YouTube videos, But, obviously, more importantly, actually being a member, being on the forum, getting the one to one work, you know, the supervision, if you like, as they would call it in the counseling sense, continued learning that gives you so much value in your career.
Martin Futter [00:14:50]:
because one of the things people talk about is once you get to the top of the game, you need to stay at the top of the game. Well, if you’re if you’re doing well as a trailer, Why on earth wouldn’t you wanna keep improving yourself as a trader? You know, it makes me laugh sometimes when people I’ve heard people go, I right. I’m already I’m already making money trading, so I don’t need to join something like that fair trading community. Okay. But what what’s your continued learning? I mean, let’s let’s ignore the fact that the stats software will help you tremendously anyway, and that’s why we do get a lot of profitable traders who do join Betfair trading community. But let’s just put that aside for a second. Where’s your continued learning? Because there’s only so much you can get from listening to podcasts, reading books, watching YouTube videos. What you really wanna do is engage with the people one to under real, you know, the people around you in your industry.
Martin Futter [00:15:49]:
If you’ve noticed, the people who are really successful in life, what they do is they latch on to other successful people in that field. So Ed Sheeran’s a really good example of this. Right? If you notice, what he does is Adele is very similar. They just latch on to other really famous people. they have them on their songs. They go in their songs with their musicians. They keep the links going. such strength in numbers.
Martin Futter [00:16:13]:
It’s like the power couples thing, you know, where I’m always quite surprised how often a mega rich person and marries another mega rich person feels a bit pointless because it’s like, well, you know, great. The rich just got rich together. I mean, you know, it doesn’t really help much of society, does it? But it does it happens over and over. Why? Because you can have that continued success. You know, Tom Brady’s wife makes loads, loads, loads more money than him a year. which is insane because he makes a fortune. Right? That’s that’s how these things work. but bringing it back to, you know, professionalism.
Martin Futter [00:16:58]:
You should be trying to work with other traders. You should be having continued learn you should be talking in a forum like that Fair trading community. You know, these these free Facebook groups, they’re only gonna take you so far. the people on there, I mean, most of them who run them aren’t even professional traders anyway, and things like that. So And there’s all often agendas. I’ve noticed with these Facebook, there’s often agendas and things. Do you know do you know something? And I’ll tell you I’ll tell you kind of behind the scenes kind of thing about somebody’s A lot of the ones you’ve probably seen. I’ve been offered them.
Martin Futter [00:17:37]:
People people who run them have gone mine, Johnna Bitis, for a grand or whatever. it’s funny. You know, and and you kinda see, oh, okay. That’s why you’ve done this group. You’re not really interested in in helping people. You’re just trying to make a quick buck. And I think that’s the problem. That’s the problem with free.
Martin Futter [00:17:56]:
Right? I’ll give you a great example of this. Free is not as good as people realize. Okay? When you pay for something. You invest in it, and you invest your time because you wanna get value. You put effort in. You do it properly. I watch Netflix because I pay for Netflix. Right? I enjoy watching Netflix, but I also like the fact that I’m getting value for money when I watch it.
Martin Futter [00:18:23]:
However, when I had something like Cody back in the day, the problem was because I didn’t pay for anything. I didn’t value it as much. You know, I just had so much after watch, but the problem was I hadn’t invested it. I’d end up watching one episode of this, one episode of that, and never really got into anything properly on it. Another good one is is hacking games consoles, where, you know, anyone who’s got an old games console, so many people have just hacked them, put loads of retro games on and things. They can put, you know, you can get whole libraries of certain consoles on other consoles. Again, the problem is you end up just playing a little bit of this game, a little bit of that game. You never actually complete one.
Martin Futter [00:19:12]:
you you never really respect and enjoy it because you didn’t pay for it. Okay? And that’s what happens. when when Betfair trading community was just the community, and we didn’t have the software. Obviously, it was a lot cheaper because we didn’t have our main seller. Well, we found we just got loads of idiots, and I don’t just mean people who who weren’t good at trading didn’t know because that’s not a problem. Right? We we work with people like that, and we transform those people as traders. It’s more the kind of you’ve got the egomaniacs and And we got a lot of people who are just trying to sell tips and things like that, and it’s just it’s just amazing. the difference it made.
Martin Futter [00:19:55]:
And then once we moved to the forum and had the software, suddenly we got people who were really interested in trading, wanted to make liberal, and actually understood that a more professional attitude will help them as a trader. So, I’m gonna leave that with you today, guys, and I think I’ve spoken quite a lot about it. And, hopefully, I’ve got the message across It’s time to start acting professional. If you’re serious about trading, it’s time to treat it in a professional manner. See, I could change that phrase. So, so here’s the phrase I used. Alright? Treat trading like a job, it will start to pay you like 1. I’ve got a better phrase.
Martin Futter [00:20:38]:
If you don’t treat trading like a job, it won’t pay you. Alright, guys. Peace out, and I’ll be back with another episode soon.
