All I can say is keep going! And keep analysing your mistakes. I kept starting with £25 banks and after 6months of analysis (Been dabbling on Betfair since 2010 but seriously since 2018) After my analysis of the first 3 months of 2021 I managed (after blowing up mutiple £25 accounts) to grow my bank to £1100.globi166 wrote: ↑Thu Jul 29, 2021 8:50 amLast week I thought it's finally time the start trading seriously. So, let's begin:
-ladder with VWAP
-all crossovers/fractional level highlighted,
-guardian with winning stall, jockey, place
-at the races for from, draw, pace
-small stakes (£0.10) a tick.
-firm mindset, "don't touch anything below decimal odds of 3.00 (don't like volatility) "
-aware of different races, fields and their characteristics (Hcap, Mdn, grp1 etc.)
After the end of the day, it all went good traded 8 races, a strike rate of around 50%, small profit. Let's move on to the next day and increase stakes to £0.20 a tick, why not.
Another 8 races were all good, broke even (always keeping in mind this vid: https://www.youtube.com/watch?v=NvOf8P9 ... l=BetAngel).
More or less 4 days has passed, small profits, around 8-10 races a day. Time for Saturday... it went well with 15 races around 50% SR small profit (still keeping to £0.20 a tick).
All those trading days I was very careful, even anxious (despite extremely low risk), aware (like a hunter in savannah, LOL) happy with my overall hunt.
My total profit by now, after a week of trading (more or less 55 races) is nearly £2.38.
Sunday was different...I woke up relaxed... I knew the markets by now... I know what's going to happen, how to make money.
When I Sat in from of my screen, the feeling of anxiety was gone (together with awareness).
First race, first trade: short price favourite 1.75 or smth (remember the rule don't touch anything below decimal odds of 3.00?)
At that point after my back entry, fully confident: no way it will go higher then odds of 2... it will retrace in a second... just wait. At the post time, the red clock showing -5 sec, time to trade out, I didn't retrace. Loss -£3.35...
Devasted, all week profit gone (55 races) in one trade, rules broken... trading my own imagination AGAIN. Feeling of depression (LOL we are talking about pennies here, I can find more loose change in front of a nightclub on Sunday morning, but somehow here, it all feels different, it represents some future potential).
Two more days of trading, full tilt and the entire bank is gone (don't worry £28 only). Now, this story was going on for 6 years now, on and off: trade well, go bust, don't trade for weeks, (different amounts, times, strategies, etc.)
It's like there are 2 people in me, and one will always destroy what another has done. I have done bet angel masterclass with PW a few years ago, I have watched lots of trading psychology vids, read books, think fast and slow, Thinking in bets, NN Taleb books, Rande Howell vids, hell I do meditation for nearly 2 hours twice a day for 10 years now.
I simply can't win this, Mr Hyde in me is too strong. I thought to share this with you all. Help you offer here is free and priceless, just want to say thank you all.
So my advice to you would be this: Do not double your stakes daily, try to double your Bank before you think about increasing your stakes to double. Work out a rough daily target for Mon Tues Wed Thu and have higher targets for Fri Sat. It took me about 7-10 days to double my bank. So a using a £25 bank aim for around £2.50 per day. So using compounding it doesnt take that long. It took about 5 months to turn £25 into £1000, and if you can turn £25 into £1k you can turn £1k into £40k in 5 months. Just use 1 stake when trading Mdns Novs and look for swings, and in Hcps use slightly larger stakes but go for smaller 1 tick trades. I also used Liability stakes. I give each race a rating from 1-6 and then adjust my staking depending on how confident i am of getting a profit out of that market, so if its a 1 rating i use my lowest stake and if its a 6 then i use max stakes, during the week my ratings only go up to 3 unless its a festival and on Saturdays up to 6 but only for the televised races.
Keep going!! Keep Calm and Carry on Trading!