Well !
This is something I struggle with a lot. The last month is a perfect example of how I've cocked it up pretty much every single week, and I'm lucky to have not lost fortunes doing so!
One of my favourite (though not at the moment) types of trade is lay the draw.
During my first week of going full time I hit about five or six 0-0 games, bringing the strike rate down way below acceptable levels, as I'd been fairly good at avoiding these scenarios. As per the theme of this post, panic ensued and I decided I had to come up with some way of fixing this scenario!
After a full day of panicking I had my solution and implemented it. And it worked, however it ate into the profits.
After a week of consistently not picking games that ended 0-0, I decided I'd overreacted and went back to the old method. You can probably guess what happened next.
So I'm going back to my original strategy again, because I'd rather be sitting on less profit and have a much more comfortable ride, than be exposed to the tune that I have been.
Cue PUBLIC COMMITMENT to stick with it.
Andy.
Sunday, 24 February 2013
Friday, 22 February 2013
My journey up until now!
Hello again !
Well up until this point in time, I thought my grip of my own emotions was iron clad, comparable only to those of steely reserve such as Duncan Bannatyne, one of my idols.
WRONG!
Just one month in and I have experienced way low and way high, in trading the horses, football and tennis (although the latter has been kind to this date with small stakes).
Now I suppose I shouldn't lose sight of the fact that my bread and butter money (things like arbing, matched betting, and a few other exploitations), tiresome as they may be, have brought in just enough to pay the bills and a small bit extra.
I hit a huge low when I realised laying correct scorelines just wasn't working out as planned. In fact, neither was Laying the Draw, nor hedging the 0-0 scoreline and a whole host of other 'brilliant' ideas I had before going full time.
I read on another blog of The Sultan about the difference between trading part time, and trading full time. The difference is imcomprehensible! The fear of losing my bank is slowly subsiding but the pressure during trading is always on, and I have to admit more times than not, trading has been an unpleasant experience!
All that being said, I haven't lost anything trading any of the above sports overall, which leaves me in a nice position to cut the less profitable or loss making moves (some of which were experiments anyway) and move to much more comfortable trading strategies. Stress on the trading, because one correct score lay can bring disaster up he who lays !
That's all tonight, finished up on a nice lay of the 1-1 draw on the Ath Bilbao v Sociedad game, always nice to hit the hay on the back of a profitable evening.
Andy.
Well up until this point in time, I thought my grip of my own emotions was iron clad, comparable only to those of steely reserve such as Duncan Bannatyne, one of my idols.
WRONG!
Just one month in and I have experienced way low and way high, in trading the horses, football and tennis (although the latter has been kind to this date with small stakes).
Now I suppose I shouldn't lose sight of the fact that my bread and butter money (things like arbing, matched betting, and a few other exploitations), tiresome as they may be, have brought in just enough to pay the bills and a small bit extra.
I hit a huge low when I realised laying correct scorelines just wasn't working out as planned. In fact, neither was Laying the Draw, nor hedging the 0-0 scoreline and a whole host of other 'brilliant' ideas I had before going full time.
I read on another blog of The Sultan about the difference between trading part time, and trading full time. The difference is imcomprehensible! The fear of losing my bank is slowly subsiding but the pressure during trading is always on, and I have to admit more times than not, trading has been an unpleasant experience!
All that being said, I haven't lost anything trading any of the above sports overall, which leaves me in a nice position to cut the less profitable or loss making moves (some of which were experiments anyway) and move to much more comfortable trading strategies. Stress on the trading, because one correct score lay can bring disaster up he who lays !
That's all tonight, finished up on a nice lay of the 1-1 draw on the Ath Bilbao v Sociedad game, always nice to hit the hay on the back of a profitable evening.
Andy.
The First Post
Hello all!
Made up my mind that a blog would be a fantastic idea, having been following a few others in the last month.
The main idea here is to share ideas with other's, learn from people who are better than me at the time of writing, and in the near future hopefully this blog can lend a hand to other people !
To give you a brief idea of who I am, up until this day I left high school early with top grades but no effort, preferring to focus on what had been, since aged 14, a very profitable gardening business.
I scrapped that for university on the advice of others (note to self, always trust self when making huge decisions in life), and promptly dropped out of uni after a few weeks to start a smoothie bar business.
I'd never heard of a credit check, and so that reality was doomed and left me in debt.
Having paid the lot off working bars and a few other easy jobs, I finally got absolutely sick of working for other people and made another big call, this time for myself.
I am a few months shy of turning 21, and have just left work to trade full time on Betfair. The roller coaster of the last four weeks has been unbelievable, and that's not always a good thing.
From this post onwards, hopefully you can share in my journey to profit, whatever it may take from me.
Andy out!
Made up my mind that a blog would be a fantastic idea, having been following a few others in the last month.
The main idea here is to share ideas with other's, learn from people who are better than me at the time of writing, and in the near future hopefully this blog can lend a hand to other people !
To give you a brief idea of who I am, up until this day I left high school early with top grades but no effort, preferring to focus on what had been, since aged 14, a very profitable gardening business.
I scrapped that for university on the advice of others (note to self, always trust self when making huge decisions in life), and promptly dropped out of uni after a few weeks to start a smoothie bar business.
I'd never heard of a credit check, and so that reality was doomed and left me in debt.
Having paid the lot off working bars and a few other easy jobs, I finally got absolutely sick of working for other people and made another big call, this time for myself.
I am a few months shy of turning 21, and have just left work to trade full time on Betfair. The roller coaster of the last four weeks has been unbelievable, and that's not always a good thing.
From this post onwards, hopefully you can share in my journey to profit, whatever it may take from me.
Andy out!
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