by Davide Renna | Jun 11, 2024 | Mindset
I know the fear of failure well, because I intimately know failure, and its sinister psychological implications.
It was 2008, and I watched my first entrepreneurial project, which had started with such fanfare just two years earlier, die.
Technically it wasn’t exactly a failure. But, the voluntary liquidation of a company that had encountered a significant financial problem due to external causes. So I didn’t even have direct responsibility.
Despite this, I lived through it as the worst of failures, and the feelings from those years are still vivid in my memory.
The Impact of Social Background
In my view, the problem related to the fear of failure is first and foremost educational, cultural, and linked to the social context of origin. In Italy, if a company goes wrong, you’re branded for life. You’re not even worthy of having an ATM card for the ordinary management of your finances. In short, you’re finished, or that’s what they want you to believe.
Then there are the expectations of those around you, of those who believed you were infallible, of those who hoped you’d fail, those who don’t look at you with the same eyes as before.
All normal in a culture steeped in the foundations of Christianity, based on a perpetual sense of guilt and subservience to those above.
For a 27-year-old boy, born in Italy with humble origins, it was really tough and I carried the dictates of this suffocating climate with me for a long time.
If I had been born (or even just raised/lived) in the United States, it would have been much different, as their social and entrepreneurial context considers failure a fundamental prerequisite for success.
Across the ocean, failure is seen as a concrete learning opportunity and if you haven’t failed at least once, you can’t succeed.
Today, 15 years later, I can confirm all this: I manage 3 companies, I have plenty of free time, I can freely choose where to live, and above all, I have realized my dream. I have become a professional in this fabulous activity, Sports Trading, which represents my passion but also my freedom, in every way.
However, overcoming all this required distancing myself from where I grew up, from the scene of the (alleged) crime, focusing on personal growth, working on myself, and enriching my horizons with other worlds and other ways of thinking.
Failure as an Opportunity for Growth
Failure is part of the growth process, except in very rare cases, is inevitable for those who try not to settle, to grow beyond their comfort zone. And what you learn from reacting to such an experience can’t be found in any book.
Thomas Edison said, “I have not failed. I’ve just found 10,000 ways that won’t work.”
And this quote speaks volumes about the difference between the American and European approaches.
In my opinion, the concept of failure touches a different, and even deeper lever than dealing with mistakes. A lever that I felt burning in the changed gazes of others or in the compassionate offers of support, accompanied by satisfaction at my financial downfall.
It concerns the relationship with yourself, and the definition of what you are.
Social labels and failure
We live in a world accustomed to affixing labels, from our own name and surname, to our profession and social roles.
I am Davide.
I am Renna.
I am an Entrepreneur.
I am a Son.
I am a Husband.
I am a Failure.
Simple labels. But I am none of these.
My name does not represent me, I didn’t choose it. It’s a nice name, but it’s common to many with whom I have nothing to do. It’s something I possess, not something I am.
My surname is even less so, because unlike the name, I like it even less. How much importance has been given in the past to the surname,? Overemphasised importance because history teaches us that blood ties mean little or nothing. Certainly, I have nothing in common with the other Rennas. Again, the surname is something I possess, not something I am.
Am I an Entrepreneur? So I can’t be a Trader? Or a Writer?
Not true.
Entrepreneurship is something I do, as are many other things, not something I am.
Am I a Son and Husband? Oh God, if my mother read these lines I would be directly responsible for her high blood pressure.
Sorry, but even in this case I refuse to be labeled. These are two roles that I love to play but that do not irrevocably represent what I am. Not by right of birth or because I decided to marry, but only by the pleasure I derive from having that particular role.
Failure and self-perception
And so we come to Failure and the fear of failure
How could I ever feel like a “failure”? When I don’t feel like a Davide, a Renna, an Entrepreneur, a Son, or a Husband?
Failure is an experience you go through, tough but precious, but it doesn’t define who you are. We are much more than crude social labels.
And even more so, we are not our past. The past doesn’t define us unless we allow it, we can change direction whenever and however we want. The future is determined by our desires, certainly not by what we have done (and what we are not).
This is the greatest lesson of these last 15 years, during which I’ve had to deal with one of the intense experiences of my life.
For this reason, today I approach any new activity with the calmness of someone who knows that failure is a possibility. Just like success. And if it happens, it will teach me how to do better next time.
In any case, it will not affect my self-perception and identity.
By the way, if I’m not all those labels, in the end who am I?
I will be what I will be, someone once said.
Davide Renna is an Entrepreneur and Sport Trading Expert, dedicated to driving financial growth and innovation.
by Davide Renna | Jun 6, 2024 | Sport Trading
Introduction
In the vast universe of synchronicity, it is fascinating to observe how experiences, readings, and paths in different fields can suddenly converge on similar themes. Some time ago, I came across an extraordinary book written by a physicist that, although steeped in mathematics and complex systems, told a story that spanned from physics to psychology. This is how I began to delve deeper into the phenomenon of synchronicity.
The book mentioned, “Ogni cosa è collegata,” (italian) offers an intriguing look at the concept of interconnection between seemingly distant events. This view, which embraces both quantum physics and psychology, prompted me to further explore the mysterious nature of synchronicity.
When physics and psychology mix
Physicists Alain Aspect, John Clauser, and Anton Zeilinger won the 2022 Nobel Prize in Physics for experiments that demonstrated the profoundly strange quantum nature of reality. Their experiments collectively established the existence of a bizarre quantum phenomenon known as “entanglement,” where two widely separated particles appear to share information despite having no conceivable means of communication. This groundbreaking discovery further highlighted the concept of interconnection and fueled my curiosity towards synchronicity.
So, I began to explore this concept from multiple perspectives: every evening before falling asleep, I note the magic and coincidences that happened during the day. This led me to notice that, even if events seem random, they often are not at all. Careful observation and recording of these experiences allowed me to grasp the invisible threads that bind the events of my life, opening me to a deeper understanding of synchronicity. The practice of journaling indeed helps any professional on various fronts:
- Precisely analyzing what happened, both personally and professionally
- Reflecting on any corrective actions or modifications
- Finding new stimuli and insights
- Remembering what happened, both positive and negative
This daily exercise encourages us to be more attentive, to pay more attention to the events around us.
Synchronicity and Sports Trading
But how does synchronicity manifest in the world of sports or my work? Often, from a simple casual brainstorming session, an unexpected opportunity can emerge, paving the way for new possibilities.
All this led me to reflect on the decision-making process. On one hand, there is experience and rational analysis, but on the other, we cannot ignore the effect of synchronicity, that added value that naturally balances the decision-making process. It is as if we are predisposed to welcome the opportunities that present themselves.
Talking about the decision-making process is fundamental when exploring synchronicity, as the decisions we make directly influence the events that happen around us. The decision-making process is complex and involves a series of factors, including past experience, acquired knowledge, emotions, and intuition. Particularly in the world of sports trading, the decision-making process plays a crucial role. Professional traders must make quick and informed decisions in a highly volatile and competitive environment. Besides evaluating market probabilities and trends, traders must also consider psychological factors such as self-confidence, stress management, and the ability to adapt to changing circumstances. Synchronicity can intervene in this process, bringing unexpected opportunities or offering intuitive signals that can influence traders’ decisions. The combination of rational analysis and openness to synchronicity can help improve performance and expand perspectives in professional sports trading.
Conclusion
Let us remember to be like the river, fluid in our decisions, as sometimes the best decisions come to us in a completely unexpected way. New projects, ideas, and stimuli can come from any field, and it is up to us to welcome them and transform them into something productive in our work. Open yourself to the flow of synchronicity and let yourself be surprised by the wonders that destiny has in store for you.
Davide Renna is an Entrepreneur and Sport Trading Expert, dedicated to driving financial growth and innovation.
by Davide Renna | Jun 4, 2024 | Sport Trading
Introduction
Sports trading is an increasingly popular practice among enthusiasts, whether beginners or experts in sports and finance, that allows exploiting odds fluctuations to make a profit. It is a topic often fraught with confusion, where the concept of sports trading is erroneously equated with betting. I thought it would be helpful to delve deeper, explore, and provide an overview of the subject. I have been engaged in this field for several years now, and I am eager to share my knowledge. This article is designed as a comprehensive guide for those who want to get into this discipline, offering detailed information, practical advice, and some personal experiences as a sports trader.
What is sports trading?
Let’s start with the basics! What do we mean by Sports Trading?
Sports trading means investing in the buying and selling of odds related to sporting events, not only before they start but also during the event, leveraging the variations and fluctuations in odds to make a profit. Unlike traditional betting, sports trading requires in-depth analysis, speed of execution, and a good amount of emotional control. And before doubts and perplexities arise, I want to reassure you that speed, analytical ability, and control are personal aspects that can be worked on and improved.
Why engage in sports trading?
There are various reasons why people get into sports trading. However, regardless of the specific motivations that draw each of us to the field, three main reasons can be identified:
- Profit: When done correctly, sports trading can generate significant earnings.
- Excitement: The dynamic nature of sports trading offers an undeniably exciting and engaging experience, especially as your understanding of the dynamics and methods improves.
- Control: Unlike traditional betting, sports trading allows for better management of losses and risks, though risks are still present.
Getting started in sports trading
- Inform and Educate Yourself
Before starting, it is essential to have a good knowledge of the sport you intend to trade on and understand the basic mechanisms, perhaps by taking courses, reading specific books, and participating in forums or joining a community where you can discuss and deepen your understanding.
- Choose a Reliable Exchange
The second step after familiarizing yourself with the subject is selecting the exchange platform on which to operate. Sports trading can only be done through specific platforms known as betting exchanges. What is a betting exchange? It is the platform through which transactions in sports trading are carried out, acting as an intermediary between various traders. You should evaluate liquidity, fees, ease of use, and reliability.
- Set a Budget
Deciding in advance how much money you are willing to invest and sticking to this budget is essential for effective risk management. Of course, there is risk. This is why, in the initial phase when you do not feel ready and adequately prepared, the only control you can have is over the budget. However, it must be said that sports trading is not an activity for the cautious.
Sports trading strategies
Unlike betting, sports trading involves a methodical study of potential strategies. Let’s start with the premise that there are two types of actions executable in sports trading:
- “Back”: Involves opening a long position on an odd, similar to placing a bet.
- “Lay”: Involves opening a short position on an odd, acting similarly to a bookmaker and taking on greater risk, sometimes exceeding the initial bet amount.
Typically, after placing a back or lay bet, the goal is to close the position at the start of the sporting event to secure a profit. However, the course of the match can be unfavorable, leading to a loss for the trader. During the event, positions can only be traded if another trader is willing to accept them, but on platforms frequented by many traders, finding counterparts is not difficult.
But what are the main strategies in Sports Trading? Let’s have a brief overview.
- Pre-Event trading
This involves placing actions before the start of the event, then closing them for a profit (or to limit losses) once the odds have moved in your favor.
- In-Play trading
In-play trading takes place during the sporting event and requires great responsiveness, along with the ability to correctly interpret the course of the match.
- Strategic cash out
Cash out is a function that allows closing a bet before the end of the event, securing a profit or limiting a loss. Knowing when to use it is crucial.
What are the differences between sports trading and betting?
Sports trading is distinguished by its technical nature compared to traditional betting. Unlike bettors, who primarily rely on their enthusiasm for the sport without conducting detailed analysis on the odds they bet on, sports traders use mathematics and complex strategies rather than just passion. In a bet, the user simply places a wager and waits for the final outcome of the event to see if they have won or lost. In sports trading, positions can be bought or sold during the event itself, leveraging odds fluctuations to make a profit even before the event concludes.
This real-time operating capability adds a dynamic dimension to sports trading, allowing traders to adapt to changing scenarios during a match and make decisions based on ongoing analysis. This approach requires not only a deep understanding of the sport in question but also a solid foundation of financial knowledge and risk management.
However, despite the substantial differences in methodologies and required skills, both sports trading and betting are regulated by the Agenzia delle Dogane e dei Monopoli (ADM). This means that, despite the more analytical approach of sports trading, both activities are subject to regulations and controls to ensure they are conducted responsibly.
Tips for success
So, how does one become a successful sports trader?
The characteristics needed to become a professional sports trader are numerous, but I want to highlight a few:
- Risk management: Never invest more than you are willing to lose and use risk management techniques like stop loss.
- Discipline: Stay calm and follow the predefined strategy, avoiding impulsive decisions.
- Continuous analysis: Constantly study sporting events, statistics, and news to gain a competitive edge.
- Recording and evaluation: Keep a trading journal to record completed trades and periodically evaluate your performance, especially when you are just starting and looking to get familiar with the topic.
Conclusions
Sports trading is an activity that, while potentially very profitable, involves risks. Information, continuous training, and prudent capital management are the pillars for turning this practice into a constant source of income. Remember: the key to success in sports trading is the balance between knowledge, strategy, and emotional control.
Davide Renna is an Entrepreneur and Sport Trading Expert, dedicated to driving financial growth and innovation.
by Davide Renna | May 30, 2024 | Growth
Choosing where to live is, in my opinion, an underrated but crucial decision. Often, we live in a place not because of a deliberate choice but due to habit or chance.
However, based on my experience and considering the aim to develop a Sports Trader mindset, I believe this choice is absolutely essential.
Today, we are certainly luckier than 20 years ago. Many jobs can be done remotely, and the advancement in communication technologies have bridged distances in various situations.
Yet, we often still consider the choice of where to live as irrevocable and indefinite.
But if professionally I have the fortune (or skill) to be able to move wherever I prefer. Why choose only one place to live?
From Brianza to Slovenia
My first major move took place in 2014. When I “moved” from Brianza to Slovenia to allow for the legal and unobstructed development of my Sports Trader profession.
In Italy, professional international platforms related to the world of Sports Trading were and probably still are blocked, making their use “illicit” (although the legislation is very confusing in this regard).
This is precisely why I moved to Slovenia, a much more liberal country in this respect. Meanwhile, I began to also remotely manage my other entrepreneurial and managerial activities.
In a way, I was a precursor in unsuspected times, long before the pandemic of remote work.
Driven initially by my choice to move but quickly appreciating the value of freedom. The freedom to move with my MacBook wherever in the world I could find the best conditions for my personal and professional growth.
Initially, Slovenia was perfect for a Milanese entrepreneur fleeing metropolitan stress and eager to create a place to cultivate his passion.
However, when stress fades and the need for new stimuli arises, awareness arises that performance, in this field, is closely linked to the stimuli offered by the environment in which you live.
Travel and search for new stimuli
In the following years, I began to travel, renting apartments in different cities for short periods (one or two months at most). All this during my seasons as a Sports Trader. Then returning to Slovenia (where I still live and reside) for breaks and the summer season.
Looking back at my statistics, it’s curious to note that I achieved the highest performance in the last three years during my extended stays in New York and London (very stimulating cities for me) and my small tour of Canada (Toronto/Montreal/Quebec City). I was thrilled by the stimulus of discovery that only traveling can give you.
I also observed that my best performances were achieved during longer stays, as opposed to below-average performances when I changed cities weekly.
The importance of routine
I believe the significance of this finding is related to the need to establish routines. The city where I live must not only stimulate me (and thus, the stimulus can change over time) but also allow me to achieve a “stability” that enables the creation of an organisational structure in everything that revolves around performance and greatly affects my outcome. Nutrition, sleep, walks, leisure, reading, and entertainment in other words Biohaking.
For this reason, choosing the city to live in is crucial for a sports trader’s productivity.
For instance, during the Soccer World Cup held in Qatar in November 2022, I decided to stay home in Slovenia. At the same time, I kept an eye on finding the best place to live in the first quarter of the following year.
Where to go for new stimuli from which to draw personal and professional growth goals?
Among London, Barcelona, the Canary Islands, California, and the always magical New York, I eventually chose London again this January, moving to Dubai between February and March to coincide with the beautiful ATP 500 and WTA 1000 Tennis, now in its 31st edition.
There, I undertook the crucial process of building new habits, enriching them with everything that could enhance my performance.
Goal achieved!
Davide Renna is an Entrepreneur and Sport Trading Expert, dedicated to driving financial growth and innovation.
by Davide Renna | May 23, 2024 | Sport Trading
The vibrant atmosphere of an afternoon dedicated to sports can be almost electric, especially for a professional sports trader like me, where every match, every event is loaded with meanings far beyond the final result. In this context, figures like Rafael Nadal take on a role that goes far beyond that of mere athletes: they become icons, living examples of virtues such as resilience, passion, and determination.
A triumphant return
At 38, Rafael Nadal recently made a spectacular return to the tennis world, playing a memorable match in Madrid after a period of injury. Despite his age and physical challenges, his performance was not just a display of superb skill but a life lesson, a tribute to his incredible ability to overcome obstacles. His tenacity and indomitable spirit send a clear message to anyone who loves sports: age and difficulties can be overcome with the right mindset.
Lessons of Resilience and Passion
Nadal’s career has been a constant source of inspiration for me. Through him, I have learned the invaluable importance of focus and resilience. Every point played by Nadal is a battle, every set a small but significant war. In what could be his final season, it is evident how his mental strength continues to prevail, demonstrating a deep love for competition that transcends immediate results.
Nadal’s secret lies not only in his technical ability but also in his capacity to adapt to changing circumstances. As a sports trader, I understand the importance of this adaptability: every match is a unique opportunity that requires flexibility and mental readiness. By observing Nadal, I have learned to read not just the game but also the surrounding environment, adapting my trading strategies accordingly. This ability to react swiftly to unforeseen situations is a hallmark of true champions, both on the tennis court and in the financial market.
Moreover, Nadal embodies a strong sense of humility and respect towards his opponents and the game itself. His work ethic and respect for the sport make him a role model not only for aspiring young tennis players but for anyone seeking excellence in their profession. As a sports trader, this reminds me of the importance of always maintaining an ethical and responsible approach to my work, treating the market with respect and being aware of the implications of my actions.
Parallels in Sports Trading
My experience as a sports trader has taught me that, similar to tennis, in trading, attitude and discipline are as crucial as innate talent. Insights, perseverance, and a success-oriented mindset, particularly in times of crisis, are precious qualities I have developed by observing champions like Nadal. Every decision, like every shot in a tennis match, must be thoughtful, calibrated, and executed with precision and dedication.
Nadal represents the epitome of physical and mental strength, a fighter who never gives up even in the face of the most insurmountable difficulties. His career is a clear example of how not to give in, how to maintain clarity and focus even when everything seems to waver. The enthusiasm for victory, the ability to resist the “magic” of easy solutions, and to face failure with courage are lessons I have applied not only in my profession but in everyday life.
The Philosophy of Resilience and Not Giving Up
Never giving up, this is the mantra I adopted by observing Nadal. Not giving up when overwhelmed by pressure, not giving up when enthusiasm is so strong it could cloud judgment. The real challenge is maintaining clarity and focus, elements that seem easy but are actually the result of constant hard work and relentless commitment. This is the mindset I try to emulate and promote every day, both in sports trading and in personal life.
As Nadal’s career progresses towards what could be its final chapter, the lessons we can draw from his life and approach to sport are universal and profoundly impactful. Rafael Nadal is not just a tennis champion; he is a life master, an icon of resilience and perseverance who continues to inspire millions of people around the world, including professionals in fields seemingly distant from sports, such as sports trading. His legacy is a testament to the power of the human spirit and the ability to overcome any challenge with dignity and courage.
An example in sports, as well as in life.
Davide Renna is an Entrepreneur and Sport Trading Expert, dedicated to driving financial growth and innovation.
