Entertainment Tax......Tuition Fees.....Paid?....Or.....Paying!

Hello and good morning all,
This post i wanted to post long time back after reading a post in Richard Wildman blog 'Bet Trading:100 to 100000' in which he mentioned initial or early trade losses in sports trading as tuition fees.
I added some more in it which i think comes first is 'Entertainment Tax' which most of us pays in start.
Well what it is all about let me explain first how i started sports trading almost 2 years back.One of my close friend trade on cricket matches regularly and although i knew it but never attempted.One day i was at his home watching India v Pakistan ODI live and he was trading on that match.Pakistan was chasing something 240+ score and 7 wickets down and 100 more runs was required at 6/over (from my memory).Injamam was still playing but only tailenders left to bat with him.As i understand cricket since my childhood i was confident that chances of India win is far better than Pakistan.I asked my friend that match is almost over and what you have done so far.He told me that he is nearly +500 on India and +100 on Pakistan and going to back some more on India at 1.22 at that time.Then suddenly he asked me 'do yo want any bet?' and if yes than on which team.I said no but i think India will win comprehensively from here.Than he said will he back some more money on India at 1.2x on my behalf from his account and we will be settled it after match.I thought for a second and than i said o.k put 1k on India for me.India won that match easily and my friend gave me 200 from his pocket just after match and said it is deposited in his account and he will withdraw it from there.
After that day i tried it again with my friend in same manner for 2-3 times and fortunately all ended in profit(nearly 1k).
At this point i was thinking that it is very easy money to earn and gradually started at my own.Before the start of match i become excited and starts trading on every market in cricket after start(session runs/total score etc.)
without plan.At this time i was enjoying it more although slowly money was slipping from my hand.But i was not concerned about it more because the loss was small and i was really enjoying it.My trade results at that time was like profit in three and lost all plus some more in one.
Than come that 'Test Match' which i mentioned before in which i lost huge money by backing draw in short odds only to chase.Weather was the crucial factor in that match but more important was mixing of alcohol,chase,greed so overall that was my fault.
So it is all my story and after that huge setback i quit trading for months and only watched cricket matches and odds movements without trading.Read many articles on trading/gambling on internet and the final conclusion was that 'no one can ever earn in that.'
Next is how i started it again.Watched many matches without trading i realized that where the good opportunity is and in which matches and in those matches what is the time to enter or exit and in short where i was wrong.But even at this time i was not thinking to re enter in it.
One day when i was surfing on net i got link of BFT blog that is http://thebetfairtrader.blogspot.com after reading it and some other blogs which linked there i realized money can be earn in sports trading but only by strict discipline and money management.I started it again by small money and after some time i decided to start my own blog.
This is all my story.Coming to the title of post which is Entertainment Tax......Tuition Fees.....Paid?....Or.....Paying!
I think in start when i was enjoying it with small losses that was 'Entertainment Tax' and the losses after that was 'Tuition Fees' unfortunatly that was big for me.
My main purpose for this post is that nearly all goes through this phase and mostly left it after that and my sincere advise is if you are going through this phase please rethink that is it suits you?If not than quit it for some time and try to only start it again with the sport which you feel comfortable after research and with strict discipline and money management.Don't try to chase money which you lost,try to recover it in part by small wins.It may take months but it is the only way you can get your money back.If you are doing well means tax and fees paid than all the best for future.
Many thanks to BFT again and i highly recommend all to read his great blog.
Good luck and best wishes.