Losing a trade on Betfair can hit harder than you expect. You may be sure of your reading one moment, and then you find yourself staring at a red number and wondering why it went wrong once more. It’s not simply the money that makes you feel depressed; it’s also the loss of control. The questions start immediately: Why didn’t I hold off? Why do I constantly experience this? And terror sets in before you’ve even had time to grasp the loss. You scan the next market, thinking you’ve found an “easy” way to win it back. It feels urgent. Necessary. Almost automatic. Within minutes, you’re no longer trading — you’re chasing. Tilt starts like this, leading to burned accounts. It doesn’t matter if you’re trading on Betfair or making quick bets on 22Bet. The spiral is quick, intense, and harsh. By the time you notice, the harm is often done.
All traders on Betfair know this feeling. We shouldn’t act on it, but in that moment, we can’t resist. We have to win that money back. Losing isn’t an option.
Pros in any money-related industry know losses are part of the game. In this blog post, I’ll share practical tips to help you tackle these challenges.
Chasing losses can feel overwhelming. To avoid this, we need to stay aware of our surroundings. There’s more depth to it than you might think. The first thing to think about is the external triggers that might impact your trading:
- Are you stressed from work?
- Financial worries?
- Lack of sleep?
- Alcohol?
These won’t make you chase losses, but they will affect your thinking. They might explain why you want to trade and avoid taking a loss. Feeling off before you even start trading can set you up for a tough session. It might make you frustrated right from the beginning. This frustration can grow if something goes wrong on the Betfair exchanges.
We want to ensure these triggers won’t impact your trading. If you notice any, step away. Do something relaxing instead. Avoid thinking about trading while you unwind.
This explains how you’ll feel before trading. It’s important to avoid chasing losses. Now, we need to consider what will happen while we are trading, which can cause us to chase those losses.
How can you stop chasing the losses?
This is the hardest part! What can I say to you on this blog post that will stop you from loading up on Betfair?!
I am going to give you what I think works, and hopefully you agree and implement some of it to your trading on Betfair…..
I always harp on about data because data is power; it helps inform us, and knowledge is also power. Know your triggers and their effects. This is the first step to stop chasing losses and become a better trader. I recommend taking notes on your trades. Write down what went right, what went wrong, and how you felt at the start. How did you feel during? Did you execute the plan? Writing down these points can help. When you look back, you’ll see where you gave in to triggers. Then, you can spot them early and stop.
Following on from knowledge about you, knowledge around trading is also key. Understand how the markets move. Know when they’ll move with you or against you. Watch for what triggers changes. In tennis trading, if a player gets broken and the price moves x ticks in set one, knowing this helps you navigate the markets. This insight leads to better trades.
Stake sizing is also crucial here, especially if you are going in with a larger stake than you would typically do. Think about why. If it’s a pre-race or pre-match trade, the market is usually stable. The risk might be 2 or 3 ticks, so it’s okay to execute. Yet, don’t place large bets during the event if you normally don’t. Stick to your usual percentage of the bank and be sensible. Converting the bank to points helps people. They can focus on 1 or 2 points per trade. This way, it removes the pounds from the equation.
You could begin to pursue the loss if you’ve done everything and still cannot cope with the loss. You could be feeling hopeless and helpless because of the loss. Take a strong stance in not being in front of the computer and closing the positions. This will help you maintain control of the situation and distance yourself from the computer, which has lured you in. Take as much time as you need to stay away from the computer, either 20 minutes or one hour. It’s better than trading in Outer Mongolia at 3 am!
Don’t forget, there’s a post-mortem thread on the BTC forum. All members can share their failed trades there. It’s a space to discuss things openly and learn together without judgment.
Take this away from this blog: “I don’t control the market, only my actions in it.” I cannot be profitable all of the time. Over time, my profitable trades will make up for this, but right now there will be times when I will have losses.’
This is the second blog post in this series. I’ll share examples from my years of trading that I’ve encountered. Here are some good ones. To get all of these blog posts & the Betfair trading mentality video series, click the link at the bottom of the page.
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