Mind Management?

[TimesTheyRAChangin]

I was watching the Monaco F1 qualifying this morning when an announcer mentioned that during Michael Schumacher's racing career,he actually had a fulltime neuro(insert balance of correct word here) on his payroll for 'Mind Management' and it got me wondering if people ever consider this aspect as being a part of the overall success of being a profitable player.Myself?If I am at the track with friends,I just don't do any serious betting.I find it very hard to block out distractions,besides the fact that it would be considered rude if I ignored my companions.Or maybe I'm way out in left field on what it means.Comments?

[cnollfan]

90 percent of this game is half mental.

I think that's a Yogi Berra line.

The ability to shake off bad beats and/or handicapping and betting errors is essential. The best handicapper I know goes through long bouts of failing confidence and it costs him dearly.

[raybo]

I was watching the Monaco F1 qualifying this morning when an announcer mentioned that during Michael Schumacher's racing career,he actually had a fulltime neuro(insert balance of correct word here) on his payroll for 'Mind Management' and it got me wondering if people ever consider this aspect as being a part of the overall success of being a profitable player.Myself?If I am at the track with friends,I just don't do any serious betting.I find it very hard to block out distractions,besides the fact that it would be considered rude if I ignored my companions.Or maybe I'm way out in left field on what it means.Comments?

The ability to "roll with the punches" is prime. One must realize and accept that they will lose more races than they win. Each bet is just that, another bet. Your overall win % determines how successful you will be. Losing races is a big part of this game. You can't let the losses adversely affect future decisions. Sure, analyze those losing races to see if you made mistakes or if racing luck was the culprit. But, if your long term performance is solid then there is no need for consternation, concerning losses.

Mental health (staying positive and confident) enables you to make sound decisions based on solid data/observations without letting emotions dictate the decision making process.

If you feel yourself becoming less positive and confident then it's time for a break. (I recently took off over a year from the races because of this, and that was after having a very successful meet, $7300 gross profit in 4 months.) I noticed that emotions were starting to get in the way so I simply quit wagering and took a regular job. The stress relief was immediate but I decided to extend the break and do some things, both with my handicapping/wagering method and in my off-track life, that needed to be done.

If you can't see, in yourself, when things are, in poker terminology, "going on tilt", you're in trouble or will be shortly if you don't do something about it.

[DJofSD]

One of the tenents of Howard Sartin's approach was to use psychology. Most people thought of it as "crap". And whether or not he was a real doctor is, in my opinion, irrelavent. If you attended any of his seminars or sessions, you got exposed to it even if you didn't know it. Why do you think he had people learn to dutch their wagers?

Admit it or not, like it or not, psychology is a big part of making money. If you do not have the correct mind set, the right frame of mind, a winners attitude and the confidence to know that you can do it, you've already loss.

[DanG]

You must show long term respect for your own approach. There are days when a completely different handicapping discipline does very well and you’re getting shut out.

The worst thing you can do is approach the ‘next series of events adjusting your core philosophy attempting to capitalize on the most recent occurrences. There is no worse feeling in racing then having your approach streak and you failed to score because of self doubt or needless adjustments.

BTW: I’m not referring to a bias shift / weather etc, just your foundation principals.

[GaryG]

You know you are on mentally solid ground when you have not just a losing day but every decision was wrong. Not just racing luck either...things just didn't go the way you thought they would....time after time. When I was young (yes I know) I used to get the joneses after every losing day. Anybody can win but it takes a well-ordered mind to lose peacefully. What the hell, tomorrow is another day!

[Robert Fischer]

For jockeys this game is probably 90% mental. We don't even have to ride the horses.