Friday, 11 February 2011


I think that I have watched one too many trading videos on youtube, no matter what I say to myself I always want more in a race and normally end up with less. I got part way through today and was a bit down- both me and my betfair balance, I think that I think my betfair balance should be more than it is and I am trying to trade that way as well, pretending my balance is over £100 or something. So this lead me to be over exposed, trying too hard and generally losing.

So to correct what I have done wrong, from now on my aim is 50p per race for 100 races and so far I have completed six, so its 94 to go and then it will be 60p for 100 races and so on until I get to £1 a race.

If I cant keep my discipline, focus, concentration, commitment, drive and determination for those near on 500  races I will give up the horses for now and try a different sport to trade, but hopefully it wont come to that.

Anyway I ended the day -£0.67 so not so bad in money terms the way the day ended but happy with what I have learn't more than anything.

Keep it green


  1. I can empathize with you on using too much of your bank. When i started i was seeing these guys making hundreds a day and i wanted a piece of the action. So that led to over exposure. It doesn't work. it may do for a while but it comes back to bite you on the arse. And with it it takes away your motivation and confidence.

    The way i dealt with it was to stick to a rigid staking plan for my £100 bank.

    1.01 - 2.0 £100
    2.0 - 3.0 £50
    3.0 - 4.0 £33.33
    4.0 - 6.0 £20
    6.0 - 10 £10

    I apologise if i'm telling you something you already know but for me this really helped. It helped keep the losses manageable providing i stuck to my exit points if a trade went against me.

    After that i had to deal with the problem of overtrading. Quite often i'd build up a decent green on a race, then just because there was still 3 mins left i felt the need to delve back in. Inevitably, i reduced the green, even turning it red which is a shitty feeling when you're trying to make progress with building your bank. The way i overcame this was to set myself a relatively easy percentage increase of my bank per day and divided that amount by say, 20 races. For example, a 7.5% increase per day over 20 races equates to £0.38p per race. Which, with a £100 bank should be relatively easy. Once that amount was reached, i'd stop and move on to the next race, regardless of how long was left. What i found was that it gets you into a winning habit and at the end of the day seeing you P&L with no losses gives you confidence. I don't employ that method now because i'm ok with things but initially it really helped with the same problems you are experiencing now.

    Plus, 7.5% increase per day over a month would take your £100 and turn it into a little under £1000. Plus you learn to up your stakes as you go along and get used to using them. And as they grow you also learn what effect they have on the market.

    All the guys earning hundreds a day started small and i doubt they had it easy. Persist at it and be patient and it will come if you want it enough.

    Anyway, i hope this helps and stick with it.


  2. Expectations can be a nightmare mate, i've dont the similar in the past. Once you taste the good stuff you begin to expect it all the time.... and the more you make the worse it gets, trust me. Have to just keep going steady.. every day is battle, you mentioned the adds previously do they actually make you any money?

  3. Cheers for the encouragement guys, great advice, will take it on board

  4. So at 1.01 - 2 are you advising scalp lay £50 then back £50?

  5. Hi Chris
    I didn't make the first comment, but 'Steve' is saying that they are his staking levels between those odds, personally I never trade at odds of less than 3.0 as I don't feel experienced enough yet, but there are many opportunities available at the lower odds ranges.




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