Beginners blog
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So having read through a few of the topics here and quite enjoyed reading peoples journey, I thought I would start my own to help
So quite a successful week 1, even though there was a potential for a devastating. I decided that for the first few weeks I would manually place the bets as I could get a feel for how the price moved and learn a bit more about racing and I am glad I did. I was able to cash out on a few of my losses which drastically decreased the overall loss which meant I remained in profit at the end of the week which I am very happy about!
I started with a bank roll of £100 and using 3% each trade, currently sitting at £114.20 after 19 trades (14 wins/5 losses). The software says there were 21, so will need to look into the ones I missed. Didn't miss any losers though haha.
Here is the strategy - 0_1668109089332_rules_export.json
My biggest lesson has been actually to NOT trade. I didn't realise the discipline needed to not over trade. Most of my selections each day don't fall within my odds range and actually being strict and not placing a bet even if the price isn't to far out was actually a challenge. This is where the automation comes in I guess, however at least until I have refined the strategy I think I will watch the races that I am betting on as it served me well so far.
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@ryan Thank you. With the software and the automation I genuinely feel like it's cheating. Perhaps as its because I have been in digital marketing for a long time and like looking at data to come up with insights that I really like using the software and its depth. Really happy with what Adam has built as its an absolute game changer for a rookie like me.
Saying that if you guys ever want to have a chat about marketing let me know happy to help. -
@luke-seddon Love how honest you have been!
I think this is where automation comes in handy because it gets rid of that billy big balls on the markets - if you stick to using the automation and step away.
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Right end of month one and what a month!
First of all my first strategy that I thought would do well had its worst month ever (see pic). Thankfully due to not physically being able to place all the trades for the month, my loss wasn't to bad (although I need to do the final calculations and analyse this weekend). I will say that I am glad this happened on month one and not a few months in. Secondly after listening to Adam on the podcast, I am viewing this as a great opportunity to see what hasn't been working. This could be a real blessing in disguise.
Secondly a couple of weeks ago I started having a play around with some tennis in play trading. After a couple of small wins and a couple of small losses I made 100 twice in two matches using a relatively small bank roll. I thought I was billy big bollocks, throwing round stakes like I was a pro with a larger bank roll and whilst I did potentially have a strategy that worked, it didn't happen every game (basically 3rd set). The following day I quickly turned into a degenerate, making up strategies on the spot in order to try and make a profit whilst not being patient and testing out the one strategy that had worked for me! In fact my notes after every trade were along the lines of "stop being a dickhead and stick to the strategy" and "well done for not making it past the first set" (almost like my billy big bollocks ego was having a conversation with the degenerate gambler I had become haha). It wasn't long before I lost all the profit I had made (24-48 hours I think) with a firm understanding of what "chasing losses" meant.
Then I started looking at automation because 1. That would enable me to place every trade on my original strategy and 2. As an immature trader, I needed to take a break from trading myself (especially inplay) and automation will stick to the strategy no matter what. I used Fairbot first, however Bet Angel has the ability to set price ranges which is very important in my strategy. I'm keen to look at the signals (variables) as I like the idea of setting up alerts when certain situations arise, rather than waiting around for them as clearly I can't be trusted haha. Although having watched a few videos now, I feel in some respects this was a right of passage, but I am grateful that my humbling experience was quick and I didn't lose to much.
Things I learnt/going to take forward -
- Respect the market it can humble you quick
- I am making a switch from focusing on making money to focusing on staying in the game. If I carry on the way I did this month, I will be out by Feb.
- Better bank roll management, better ego management and becoming more self aware. Automation is making this far easier taking away emotion and I think the biggest issue is me at this point haha.
- Engage a bit more with the community
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@ryan Thanks Ryan. There were some that I saw that if I had tehn I would have one, but then that defeats the point of the strategy I guess. Marathon not a sprint and I'm here for the long term. Still only a week in and with one strategy, I am having to sit on my hands a bit, but I am developing the next one.
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This was the pace lays that I adapted from your strategy, which I am grateful for. Am going to look at building a bot on Fairbot for it this weekend
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@luke-seddon You make a very valid and good point on when not to trade, it can be really hard to not trade.
you want to make money and can spend some time talking yourself into trading, great you've started not trading if it doesn't fit the rules.