May's profit/loss: +£74.74
This first month of trading has produced a great result for me to work on. It has taken a long time to get there (384 horse races to be precise) but I have profit in the bank and am happy with the learning process I have made so far.
Since 5th May when I started and deposited £100 in to the Betfair bank, I have won on 240 races with a grand total of +£211.89 and lost on 144 races equating to -£148.63.
My monthly strike rate has been 62.50% overall and if it had been 50% I would have made a loss as the average losing trade has been -£1.03 against the average winning trade +£0.88.
The big plan of mine is to increase my balance up to £200 and will probably start withdrawing any profit out of betfair either weekly or monthly! This is basically so that I will keep the stakes low and minimise the risk of blowing everything I have made.
I have gone from £50 to £1100 before using Betfair's holdem game in 2008/9 and then lost it all, I was not happy but that's another storey! Lesson learned there and although it was expensive I have learnt that lesson well and truly so doubt I will be doing that again soon!
If you have any suggestions for topics to post up here, let me know ;)
Hi, what stake are you using and what is the best time to enter to the market and place bet?
ReplyDeleteHi Pagy,
ReplyDeleteI am using £10 stakes generally throughout May and am hoping to increase my stakes over time to up to £50 by mid Summer.
There are many good times to enter a market and place a bet - too many to list or describe in this comment.
The best is to read this blog by Adam Heathcote, as advice doesn't get any better than that http://adamheathcote.blogspot.com/2009/05/entry-points.html
Thanks for the comment