by Davide Renna | May 16, 2024 | Mindset
How did I address my fears in the realm of Sports Trading? The journey that led me towards professionalism was a long, winding, yet pleasant path of personal improvement.
When we think about it, it’s indeed impossible to separate the individual from their profession. This is true for any job, but even more so for disciplines like sports trading, which rely on individual rather than group performance.
When you work alone, you can only rely on yourself, and every small improvement in your personal balance directly impacts your professional performance.
For me, working on my weaknesses has been crucial for enhancing my performance.
Limiting flaws to succeed more
I firmly believe that limiting one’s own flaws is far more important than enhancing one’s talents.
The underlying reasoning is quite simple: I need to balance out my flaws and strengths to essentially break even.
Ideally, the goal is to minimize flaws and areas of weakness as much as possible, bringing them to a neutral level where they lose significance.
This way, strengths, potential, and things I excel at become my added value.
For this reason, I’ve always had a small obsession: limiting my weaknesses before boosting my strengths.
Weaknesses can be related to mindset (fears, limiting beliefs, cognitive biases) or have a technical-strategic nature.
In my journey towards method optimisation, I’ve paid attention to both aspects. Although those related to mindset have naturally carried more weight.
First and foremost, I tackled fear management, and I’m still working on it.
Fears are more common than you might think. We all have them, whether manifest or unconscious, sometimes insidious. But it’s important to understand their significant impact on work performance and mental approach.
What is fear?
Among the various definitions of fear, I have found Jared Tendler‘s version in “The Mental Game of Poker” to be the most useful. Here, fear is defined as an accumulation of anxiety resulting from uncertainty, or questions to which we have not yet found answers.
This straightforward and immediate description of the emotion of fear prompted me to seek for the unanswered questions that might underlie my fears.
I immediately understood that the ability to ask questions is always an indicator of incredible inner strength.
From there, taking action was easy and natural. I started asking myself questions, writing them down, and even leaving them unanswered.
Then I waited for the answers to take shape, more or less consciously.
This was a very important step for my personal and professional growth, leading to the resolution of my biggest fears.
This path then gained significant momentum when I came across Igor Sibaldi‘s thinking and his vision, which contributed to increasing my awareness and determination.
After all, anyone who engages in an uncodified, often discriminated against by public opinion, poor in certainties but full of risks. He is either crazy or destined to see the world differently from most of their contemporaries.
“The antidote to fear is not courage,” says Igor Sibaldi, “because by the time courage comes to mind, fear has already conditioned you and therefore has already won. Courage is a reaction to fear.
“Fear is overcome by anticipating it and changing the situation you’re in completely. Fear is defeated through the desire for knowledge of something else, through a radical change in your personality. It’s not just about facing fear. It’s about being greater than your fear, and this can only be achieved by growing beyond your capabilities.
How do you do it? By asking yourself, the deepest, most authentic questions.
The desire for knowledge is the real enemy of fear and its antidote.”
This perspective was crucial and stimulating for me to start addressing my main fears in Sports Trading. I was aware that by understanding, limiting, and overcoming them, I would give an incredible boost to my performance as a Sports Trader.
Davide Renna is an Entrepreneur and Sport Trading Expert, dedicated to driving financial growth and innovation.
by Davide Renna | May 9, 2024 | Sport Trading
Sports trading is an activity, a profession in my case, that involves not just technical knowledge and analysis, but also a deep understanding of human psychology and one’s own emotions. The emotional highs and lows that occur during trading sessions can significantly influence the decisions made and, consequently, the financial outcomes. I thought it was essential to talk about the importance of stress management in sports trading with some practical advice on how to effectively handle emotions.
The Importance of Psychology in Sports Trading
Psychology plays a crucial role in sports trading. Some time ago, I discussed how everything starts with one’s own beliefs: being confident, aware that it is a full-fledged profession which, like any business venture, has its risks and benefits, is one of the primary drivers to accelerate. Traders must be aware of their emotions and their impact on trading decisions. Stress, fear, greed, and euphoria are just a few of the emotions that can influence traders’ behavior and lead to irrational decisions.
How to Manage Stress in Sports Trading
I start from the belief that there is no one-size-fits-all solution. On the other hand, each of us finds psychological well-being in different things: whether it’s running, meditating, reading. However, managing stress is essential for success in sports trading. Here are some practical strategies for dealing with stress and staying calm during trading sessions:
- Practice awareness: Being aware of your emotions is the first step in managing them effectively. Practice mindfulness during trading sessions, observing your emotional reactions and identifying the factors that trigger stress.
- Develop a relaxation routine: Incorporating relaxation techniques such as deep breathing, meditation, or stretching into your trading routine can help you stay calm and reduce stress. In short, anything that can work on your nerves!
- Set realistic goals: Set realistic and achievable trading goals. Having unrealistic expectations can lead to frustration and stress when they are not met.
- Exercise regularly: Physical exercise is a great way to reduce stress and improve overall well-being. Dedicate time each day to physical activity to relax your mind and body (provided that the exercise is not a source of further stress for you).
- Maintain a long-term perspective: Remember that sports trading is a long-term activity and there will be ups and downs along the way. Maintain a long-term perspective and do not let immediate losses or gains overly influence your emotions.
- Limit exposure to stressful stimuli: Minimize sources of stress during trading sessions. This could include avoiding negative financial news or limiting the time spent in front of the computer during trading sessions. This falls into the realm of so-called biases: deviations that our minds follow. Here’s some further reading on this.
- Seek support: Talk to other traders or industry professionals to share your experiences and get support. Sometimes, just talking to someone can help reduce stress and gain valuable perspectives. Write to me if you want to discuss this.
Importance of mental health
Managing stress in sports trading is essential for maintaining calm, making rational decisions, and achieving positive financial results. By using the stress management strategies discussed in this article and maintaining a balanced and aware mindset, traders can face the emotional challenges of sports trading with confidence and determination. Always remember that mental health is just as important as financial success and invest time and energy in caring for both.
Davide Renna is an Entrepreneur and Sport Trading Expert, dedicated to driving financial growth and innovation.
by Davide Renna | May 2, 2024 | Growth
The world of sports trading is incredibly competitive and stressful. I know this firsthand, having started in the industry at a time when it was still a relatively obscure profession, viewed with a fair bit of skepticism.
To succeed in this field, I believe it’s crucial to be at the top of your game, both mentally and physically. That’s why many professionals, myself included, choose to work with a mental coach for sports traders.
In short, working with a Mental Coach can provide a ports trader with a series of significant advantages to improve performance and manage stress.
Below, we’ll explore the 5 main benefits that a sports trader can have through working with a mental coach.
1. Enhanced focus
A mental coach can help a sports trader develop the ability to focus on the goal, maintain attention on it, and minimise distractions. This is particularly important during trading sessions, where concentration and the ability to make quick decisions are crucial.
2. Emotion management
Emotion management is a delicate aspect for a sports trader. Keeping a grip on one’s personal sensitivity is crucial to avoid making mistakes due to lack of rationality. The mental coach can assist in handling stress, fear, and anger that often accompany trading. Consequently, it can help make more objective decisions and avoid impulsive errors that could lead to financial losses.
3. Resilience development
Sports trading can be an intensely stressful and demanding activity, requiring constant clarity and focus. A mental coach can help develop resilience, making it easier to face challenges, recover from losses, and persistently work towards long-term goals.
4. Performance optimisation
There’s always room for improvement in a trader’s performance. With attention possibly wavering and errors just around the corner, it’s vital to have tools to counteract these challenges. A mental coach can help identify a sports trader’s strengths and weaknesses and develop a customised plan to enhance performance, including training in concentration techniques, emotional management, and devising a physical and mental training regimen
5. Personal development
Essential for a sports trader is self-awareness, understanding one’s own potential, and, above all, one’s own limits. In this regard, working with a mental coach can help the sports trader develop self-awareness and lead to a better understanding of oneself. Consequently, it directs towards easier management of emotions and decisions.
But how do you choose the “right” mental coach for Sports Trading?
In my opinion, there are three important points to consider when selecting your mental coach:
Experience and competence of the mental coach
Check that the mental coach has significant training and experience in working with sports traders or related fields. Also, check if they have worked with other sports traders who have achieved significant results.
Personalised approach
Your mental coach should be able to offer a personalised and tailored approach to your specific needs. Inquire about their working method with you and how they plan to help you achieve your goals.
Communication and connection
Communication and connection are essential in any working relationship, especially with a mental coach. Make sure you feel comfortable interacting with your mental coach and that there is good chemistry between you two. This will help you to build a strong alliance and get the most out of working together.
In conclusion, the decision to work with a mental coach should be considered by anyone looking to fully engage in the profession of sports trading. Or rather, by those wishing to refine and maximise all the personal skills that can prove beneficial in performing this wonderful job satisfactorily and profitably.
Davide Renna is an Entrepreneur and Sport Trading Expert, dedicated to driving financial growth and innovation.
by Davide Renna | Apr 18, 2024 | Growth
My entrepreneurial journey has greatly aided in transforming my passion for Sports Trading into a professional activity. I’ve always been somewhat an unconventional entrepreneur, rather “American” in my visions and reasoning, which aren’t easily applied to the context of Italian micro-entrepreneurship.
I don’t consider myself a “great” entrepreneur, by any stretch. My companies are more modest realities Yet, for me, being an entrepreneur is a matter of approach, not just outcomes.
What entrepreneurial vision means to me
Investment and Vision are for me the first two defining factors of an entrepreneurial approach, indispensable characteristics for my approach to being a Sports Trader.
Investing, as in any business
Starting a business venture without initial capital is impossible, just as embarking on a career in sport trading is unfeasible without a starting budget. And by that, I mean an initial budget completely at risk, similar to investing social capital in this type of activity. As in the business world, the first capital must come from the entrepreneur’s personal assets, who, before seeking external funding, must prove the viability and profitability of their idea. Most Italian companies haven’t understood this aspect yet, then they wonder why their financing requests are denied .
From the investment budget to the vision
The concept of vision is also important to me, paralleling the entrepreneurial world and Sport Trading.
An entrepreneur invests to build something significant, for themselves and the community, increasing their well-being, achieving financial freedom, developing services useful to others, and contributing to the creation of jobs and market exchanges (suppliers, professionals, consultants). They know, when they invest in starting their business, that such vision will require sacrifice and time, but they cannot and must not give up on their vision.
Similarly, those venturing into the professional path of Sport Trading, to justify the degree of risk, the time, the money invested, and the efforts to grow in this challenging field must, in my opinion, have exceptional goals, both individual and collective.
Regarding collective interest, in entrepreneurship it’s evident, but as for Sport Trading, being a purely individual financial activity, the connection is certainly less direct.
The purpose of the project
In every sector, however, the same rule always applies to me: to receive and achieve, it’s also fundamental to “give,” and I can’t think of performing at my full potential solely for individual purposes, or worse, to accumulate wealth for its own sake.
What I’ve always observed is that linking one’s performance ambitions to a larger goal, such as a project with collective purposes, is much more rewarding and stimulating, and I’m convinced it positively affects the overall setup of the psychological approach to this activity.
My way of identifying a collective purpose is very simple, as well as directly connected to doing business: a large portion of my profitability is directly channeled into my companies, which allows me to accelerate existing development projects, support new experiments, and hire new staff.
From this perspective, my relationship between Business-Investments differs from the ordinary. Usually, the economic resources allocated to the entrepreneur’s investments come from the profits of their companies; in my case, it’s not necessarily so. It also happens that entrepreneurial investments are financed by personal availability, and the return on investments flows into the company: to which, therefore, new resources are attributed without taking any away. All thanks to my activity in Sport Trading.
Trading to create and develop a Business is definitely one of my goals.
The role of the entrepreneur
Approaching the world of Sports Trading as a business activity brings me other advantages, such as developing the right detachment.
This aspect is certainly the result of a rather unconventional conception of the entrepreneurial role, especially in overcoming the image of entrepreneurs perpetually immersed in their own company, centralizers, and totally identified with the company itself, and the old and now obsolete concept of the “owner” as father and master.
I have always started and managed my businesses with a different conception because I am madly in love with my personal freedom and could never confine myself within a single reality.
The entrepreneur is the one who invests in a project, in a mission, he is the one who sets the guidelines and in small companies, not having yet the entire first managerial line available, can participate in the definition of the strategic line.
The entrepreneur is not his company
But the company is the company and the entrepreneur is the entrepreneur, they are two distinct and different entities. The entrepreneur’s role is to provide economic support and direction with the aim of growing their company.
The company maintains financial and managerial independence from its founder, surviving even in their absence. This independence allows for the delegation of responsibilities to managerial figures and the potential transfer of corporate shares without affecting the company’s daily operations.
This separation of roles has also been very helpful to me when, for example, I take on a managerial role but am not the entrepreneur, or perhaps not the only one.
This detachment has also aided me in my Sport Trading activity, where it is essential not to equate one’s personal identity with a professional activity, which by definition can go well or poorly, affecting the initial capital but not the person themselves.
Having the right perspective helps me develop and maintain the right balance, always crucial in this type of activity.
The importance of the annual balance sheet
Another important similarity between Doing Business and Sports Trading is the representation of results through the annual balance sheet.
The annual balance sheet is very important because no company measures its well-being through daily turnover.
Similarly, Sport Trading activity is independent from the single movement of the day, and like any business activity, will measure its performance over much longer periods (months, quarters, year).
Thus, the value of the annual balance sheet holds absolute centrality for me, not only for the performance itself but also for the decisions themselves.
The long-term vision
Thinking like an entrepreneur helps me maintain a long-term vision in this case. With less reasoning and less observation of the data, there is a risk, on the contrary, of remaining anchored to a short-term vision.
This applies both to Entrepreneurship and Sport Trading, which are actually worlds rich in affinities and similarities.
As far as I’m concerned, the differences between the two disappeared in 2021, the year that marked the transition from individual management to corporate management.
I no longer carried out my Sport Trading activity for personal purposes but as part of a broader corporate development project.
This mental shift allowed me to maintain the right detachment and manage higher volumes and numbers simultaneously.
And not only that, but the level of performance also increased thanks to a sense of responsibility motivated by a development project, which, thanks to a concrete entrepreneurial base, was then developed in other areas as well.
Being the manager not only of my wealth but of a corporate asset has been a source of motivation and performance for me.
Gradually raising the motivational level is indeed another fundamental point in configuring the right mindset of a Sport Trader.
Davide Renna is an Entrepreneur and Sport Trading Expert, dedicated to driving financial growth and innovation.
by Davide Renna | Apr 4, 2024 | Mindset
For years, I have observed the proliferation of methods to “do” Sports Trading, all proposed as foolproof and essential.
Guides, manuals, management software… numerous solutions proposed as “the most effective” for navigating the world of sports trading towards the goal of becoming a professional.
Especially numbers, presented as a remedy and an opportunity to earn, succeed, and live well.
The next step, once I became an adult and based on my experiences, was to ask myself how much numbers actually matter in life.
Are they essential (and sufficient) for those who want to achieve significant goals, or is there more to it?
Numbers
Although I place great importance on numbers, with which I have always had an excellent relationship. I believe we should limit their use to certain areas.
Certainly, statistical analysis helps to narrow down the field of possible choices with greater precision. While a data-driven approach is functional for correcting and continuously improving one’s strategy, as I have found in my entrepreneurial experiences.
However, It’s also true that everything cannot be defined through numbers and that the system cannot be fully automated by following a purely mathematical logic combined with Sports Trading. The human component is an equally fundamental element, with its load of awareness and individual perceptions.
Intuition
We live in a historical era dominated by rationality, and the mistake is trying to label everything, every little thing, through logic and reasoning. On the contrary, the role of intuition, perceptions, sensations, and everything that can be referred to the sphere of personal sensitivity, is demonized and relegated to the realm of the superfluous and the useless.
In reality, however, it’s beneficial to cultivate subjectivity because from this noble part of our psyche, we can draw essential abilities and potentials for our approach to work and data analysis.
Trusting oneself and one’s intuitions is equivalent to completing rationality, which is important but not exhaustive.
An integrated approach between the two spheres helps to produce data and performances significantly superior to the widespread approach based solely on rationality, as it manages to grasp elements reachable only through emotional logic.
At this point, it is essential to learn to recognize these resources, to give them space, and to value them for the contribution they can offer.
It’s not simple, but it’s possible. The the first step is to try to understand the conditions that allow us to access these potentials, which after all are already within us and pay the price of the awareness we lack.
But if we truly have the desire to discover how our intuition, absolutely subjective, is crucial for success in work and for achieving personal balance, we can reap benefits that are immediately perceptible.
The art of this profession
The truth, as always, lies in the middle: I believe it is correct to use mathematics and rationality within Sports Trading to identify and narrow down the scope of action.
Defining essential guidelines for profitability in the long term remains a categorical imperative for achieving tangible and concrete results, it’s important to emphasize this. In Sports Trading, as in other entrepreneurial professions.
But within those guidelines, I believe it can be interesting and fulfilling to also move with creativity, allowing space for personal feelings and deeper perceptions that each of us hold within.
Only in this way is it possible to proceed in the direction of transforming one’s work into a unique form of art. Unique precisely because it is the subjective component that makes it non-replicable.
In Sports Trading, mathematics, science, and intuition are therefore closely interconnected elements to create a solid and well-defined professionalism and achieve the set goals. It’s just a matter of learning to dose them and assign each one the place it deserves.
Davide Renna is an Entrepreneur and Sport Trading Expert, dedicated to driving financial growth and innovation.
