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From £25 to XY Challenge - Day 14

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I always focus on Saturdays because these days are the best for my trading. There is usually a better liquidity & quality of racing in comparison to mid-week card. And since I do this challenge, I like to explore what is possible in the markets. Today, I started with a bank of about £227. Now, I have a bank of about £339 - that's a net profit of about £112, in other words a ROI of 49% on my bank in just one day. Well, I really didn't know that I could do so well but today's markets were just nice. I was able to jump in & out many times and collect all of the small winnings with my scalping. I was a pure scalper today and everything went well. I was able to make two nice profits of more than £10 per race. 

Of course, such a ROI would be harder to achieve with much bigger bank but I want to see how far I can go in this challenge. 

I didn't focus on my bot today. I did just let him play the greyhound markets without my intervention. He seems to be hedging well on the afternoon racing, I need to test the advice from @Rakz0r in order to make him hedging properly on evening racing as well. The bot is still super stupid and before I move into some advanced strategies, I want to have the confidence in him. You know - I have to trust the bot with my money. Are there some 'best safety practices' when creating a bot?




Greyhounds (bot results):



Today's stats:




My best race today:


My bank:




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2 minutes ago, Rakz0r said:

Wow!!!!!!!! What a result for the horses. Can't wait to produce something like that... one day...maybe :P

That day will surely come! You just need to strictly stick to the rules. Remember - discipline, money management, focus, good mood, never giving up, protecting your bank and all of these things combined together with perseverance. That's the only way I know in trading and I know for sure it works! :)

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    • well done zitlor..slow and steady is the only way it seems..good luck for future
    • Thank you for the response to my blog. Yes, of course you are right in terms of the ideas and pointers provided by Thomas while the main ability is the skill of recognition (pattern recognition) to see where and then when to be operating in a market. The immediate usefulness for me is the realisation of the necessity to be in and out quickly, (bet/scratch/bet/scratch again and again). I find myself having a series of small losses but these will be offset against a far more substantial win. This will do for me while I improve my "sense" of timing. Mind you, at 70 years young and while being very fit for that age, my reactions are not what I would desire. That can be practised! Good luck, my friend!
    • I've been at this for a few months now and have come to the conclusion what Tomas provides here for free is fantastic in that it  gives you ideas and points you in the right direction but in order to realise the subtle differences between when to apply these strategies and when not to it takes countless hours of screen time. There's simply no short cut.  I think most will give up well before they get there but those who do make it to earning a professional level income, say at least the annual minimum UK wage, are perhaps 1 in 500 to 1 in a 1000 on Betfair. Closer to 1 in a 1000 I'd imagine. I've no idea if I have the inherent pattern recognition ability to succeed but I've given myself 2 years and I'm going to give it my best shot.  Good luck and if you feel like posting a regular blog of your progress I'll read it.
    • Thanks @Tomas I started with realistic expectations so I'm very pleased with the slow but steady progress I've made. I've no doubt I'll need the full 2 years I gave myself from the start if I'm ever to progress onto making real money in the big boys playground of UK horse racing. Time will tell but I've really enjoyed it thus far so I'm happy to patiently wait and see what happens. 
    • So you have cracked it, congratulations! I think that more people would be interested on how you are doing in the future. Any future updates are still welcome