Attitude Is Everything

[atkinsrr]

Thought some of you might find this article interesting. Was reading some of my old "mental" stuff yesterday from my files. From American Turf Monthly February 1993. As I type this I am substituting the word "player" for "investor" as "Doc" said we are not "players". The problem of most investors? The failure to maintain mental equilibrium. Racing demands a psychological maturity to deal with the ups and downs in any game involving a level of chance. There are times when the half-competent investor will rule the world and can't lose. Other times, even the best investor's can't buy a winner. Handling swings in fortune is what makes or breaks one's success. Most investors start out with supreme confidence , wrongfully, they believe it's their "system" and not their personal application of it that makes them winners. At the first sign of adversity they choke. They make dumb bets, or pass races that are theirs for the taking. A negative mind-set beats investors more than any other reason. The difference between a winner and loser is in coming to grips with experiences of one's own creation. Don't like the results? Do something about it; take your future into your own hands. Whereas the loser sees 3 losses in a row, the winner sees 1 win in 4. It's all a matter of perspective. The winner will check his losing races for possible mistakes. If he makes one, he'll correct it; INTERNALIZE THE CHANGE, then let go. The winner doesn't agonize over his losses. They're merely learning opportunities, and part of the (game). The failure is not getting on with what's good and positive; the next race, opportunity to win or step toward becoming more successful. Learn to forgive yourself. Put a statute of limitations on your mistakes, then get on with it. Perseverence and objectivity are the qualities that inevitably start the winner on his journey to success. Experiment, evaluate, improve. Find out what works for you at the races. That's what winners do. They create their own success and take responsibility for getting it, too....everyone enjoy and good skill to all.

[delmarscott2004]

Thank you , the mind set on how one approaches parimutuel investing is so very important. I always ask myself will,can I do this with a positive mind set and using good tools be a constant profit taker , currently my second year with RDSS .I feel I can.

Your posting reinforces this along with numerous other posters on this site. I thank you all.

Scott

[Dorianmode]

Have been thinking about this lately, especially about the (increasingly fewer) mistakes one makes after one is fairly successful. When I used to lose a race, I used to feel a certain "shame", or confusion, and think "what did I do wrong here ?", (being a "perfectionist"). I do still look at each loss to see if I would have done something differently, in retrospect, however, more and more the anwer is "no". "I looked at everything the way I should have, and did the best I can". You can get all muddled up in trying to see how EVERY race could be won, yet that is actually shooting yourself in the foot, as it's the majority of races, and the long term, the majority patterns, and NOT THE EXCEPTIONS, that are important. There are going to be some losses, and as long as one's own stats, and Kelly advantage numbers are maintained in terms of pay-off required for your win %, I now also no longer "agonize" over the losses, and just move on. You learn that your win proficiency will hold you in good stead, in the long run, and just move on, after you have experienced a measure of succcess, and your confidence increases. (For example I used to be terrified of large field/complex turf route races. Now I look at them as fun "puzzles".)
But excellent points, folks.