An absolutely brilliant day, my best ever as part of this challenge. The profit was €271.40 and I turned over a whopping 90K .
I don't want to get ahead of myself or get over excited about a great day - but I'm wondering if it's time to review my targets. At the start of the challenge, I set myself a challenge of increasing my bank by 5%. This was a fairly conservative figure but I didn't want to set it so high that I couldn't meet it. I'm well ahead of target so perhaps it's time to change the target to 10% per month. Had I started off with a 10% target, I would have been hoping that the bank was around €1600 at the end of Ocotber and I've surpassed that now.
I'll plug away with the current targets until the end of the month and review then.
As my bank grows, I'm finding numerous advantages, not least that I can trade in bigger sums. I also find that I can get in early 2,3 or even 4 races ahead at the key prices. Of course I set an automatic tick offset and stop loss when doing this but it's proving fruitful so far getting ahead of the queue. With a smaller bank, this is not really possible as you need your capital to trade.
I feel pretty darn good about today so I've treated myself to a nice bottle of Châteauneuf-du-Pape to celebrate a good days work.
The Challenge: to increase my trading bank by 5% per month.
The story so far...
Starting bank: €1,000 (beginning of May 2010)
Target for end October: €1,340.10
Today’s opening bank: €1,688.86 Today’s closing bank: €1960.24
Today's profit/loss: +€271.40 Today's turnover: €91,608.21
WAYNE Bailey was born in Dublin where he still lives with daughter. A librarian by profession, Wayne has always had a passion for betting and trading and has spent various periods throughout his life as a professional gambler. In 2007, he graduated from University College Dublin with a degree in social science and information studies and four years later, he completed a diploma in financial trading from the Irish Institute of Financial Trading. More recently, he studied psychology and the behaviour of the human mind. Wayne is a regular contributor to various newspapers and websites in the UK and Ireland, and he currently pens the Betting Ring column which enjoys a large dedicated following every Saturday in Ireland’s largest selling newspaper The Irish Independent. Wayne's book 'Sports Trading on Betfair' was published in 2014. Email: firstname.lastname@example.org