Initially it wasn't looking like a good start to the month as it took me 5 bets to find my winner, although a mix up whilst placing my bets resulted in me making more profit than I intended. Ironically, it was mainly the second favourites that won (there's one for you Zappi). I've been thinking a lot lately about ways to preserve my bank and make losing runs less risky, and today whilst watching my horses losing, I had a flash of inspiration. Currently I aim to increase my betting bank by 5% per day, however it only takes about 6 losing runs - sometimes less - to wipe out half of my back, and using those calculations, it probably will only take 8 losing runs to wipe it out completely. However, i'm contemplating using a staking plan based on odds. I haven't fully thought this out yet so i'm not sure if it would work but I thought as a basic starting point if the decimal odds start with a 2 I aim to win £2.00, a 3 £3.00 etc. I would contine to increase my stakes to cover my losses as before. As I say it's only an outline, but it's something I may trial for the month to help me build up my bank and possibly reduce losses. If anyone has any thoughts on this please let me know.
Well that's it for today. I'm going to sign off and watch Derren Brown's 'The System' a supposed "guaranteed" system for winning the horses...i'm not convinced but it's got me intrigued.
Happy betting and good luck!
Daily profit: +£10.00
Total profit: +£54.50
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1 comment:
Glad to see you are in profit again and working toward minimising your risk. Keep up the good work. You will be amazed in a few months when your betting bank has increased greatly and the rare sizeable losing day (which is inevitable) will not have the same emotional impact as exists so early in your task.
You need 4 strategies to be successful
(1) How and when to get in
(2) Where to get out with a loss
(3) When to get out with a profit
(4) How much you will risk on any given day
Zappi
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