Wednesday, 12 January 2011

0.24% That's it

I know people have different opinions about setting targets, but recently I have been aiming for 5% a day, so if I break that figure down by dividing by the 21 horse races in a day and we come down to the number 0.24%, and at the moment that equals about £0.07 per race. I have been averaging a bit more per race, probably more like £0.10 per race, therefore when I have reach my daily target, I stop for the day as it is quite taxing when you have to keep concentration for a long period of time. Just hope I can carry it on once the stakes begin to rise to a good amount, by good amount I mean more than £10, which for me would see me with a few quid to withdraw and a few quid to allow my bank to grow.

I think as time progresses and hopefully my bank increases the daily target will be reduced and hopefully once I get to £200 I will change to 4% a day and increase my bank 2% and withdraw the other 2% as profit, and then once I get to £400 I will change to a 1% increase per day and withdraw 3% and hopefully carry on in the same manner until the end of the year.

Increasing my bank by 1% per day will mean that if I can get to the £200 and £400 bank target levels I will be working with a bank of about £5000 by the end of the year.

Increasing my bank in that way, at the same time I will be reducing my staking levels along the way in the following way-

  • Currently at 10% stake
  • At £100 I will switch to a flat £10 stake
  • At £200 will carry on with a 5%
  • Once I get to £500 I will carry on with a £25 stake until £1250
  • At £1250 I will carry on with a 2% stake
  • At £2500 I will then have a £50 flat stake
  • Once we reach this years main goal of £5000 I will carry on at 1% stakes
These figures may all be pie in the sky, if I don't maintain my discipline the I will be back to square one with no bank to trade with, so as long as I stick to my rules and don't go in play I will be OK.

Also these figure relate to horse race trading and other sports will be introduced along the way, I am mainly looking at Football, tennis and cricket.

Aside from the above I did OK on the horses today and ended with a bank of £27.11

Goodluck and keep it green


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