Is this the bot for me?

[mrtubs]

I want to back horses to make a set amount each day.

I would like to enter my selections manually. So for the first selection I want to back the correct stake to make my daily profit taking into account commission. If it wins I stop there for the day, if it loses on the second selection I want to make enough to cover my loss and make the daily profit. Again if it wins I stop there, if not I go onto the third selection to cover all losses and make the daily profit etc. etc.

On some races I may have two selections, in which case I would need to make the daily profit and recover any losses whichever of the two selections won.

Firstly is this possible on your bot? and secondly is it easy to set up. I have had several attempts at other bots but the instructions they sent me is so complicated.

Thanks

Ian
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[SeaHorseRacing]

Hi Ian.

Whatever money you have aside for this method, think about giving it to charity... Money well spent then.

I dont mean to be harsh just honest. Scrap your method before you lose all you money.

[ShaunWhite]

If it wins I stop there for the day, if it loses on the second selection I want to make enough to cover my loss and make the daily profit.
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If you search for 'martingale' on this forum you will see many explainations of why this is a bad idea. It's simply a very old, very bad idea probably originating in the world of roulette.

You also need to ask yourself ..

1.What do you do when you have had 5, 10 or 20 losing races in a row?

2.If making money gambling (because what you are doing is gambling, not trading) was that easy, why aren't we all doing it?

3.Have you tried this out in a spreadsheet...I'm guessing not?

With a target 'income' of £100 and at random odds between say 1.5 and 3.5. Take a look at the Stake and Loss td columns by race 10.

Race,Odds,Stake,Loss td,To Win,Profit
1, 2.83, 54.62, 54.62, 154.62 100.00
2, 2.12, 137.76, 192.38, 292.38 100.00
3, 3.12, 137.77, 330.15, 430.15 100.00
4, 2.58, 272.71, 602.86, 702.86 100.00
5, 1.66, 1058.44, 1661.30, 1761.30 100.00
6, 3.45 , 719.37, 2380.68, 2480.68 100.00
7, 3.18 , 1138.22, 3518.90, 3618.90 100.00
8, 2.56, 2318.67, 5837.56, 5937.56 100.00
9, 1.99, 5996.89, 11834.46, 11934.46 100.00
10, 2.72, 6936.07, 18770.53, 18870.53 100.00

Even after just 4 losers at even money you'd be trying to stake £1,600 on the 5th and frankly you wouldn't get that much matched most days.

4.Why, if your system worked, would you stop trading after race 1 when there are 29 other races in the day?