A Personal Challenge
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It is with determination that I begin this thread. It will be my very last opportunity to make my trading profitable. My idea is that if I post an updated spreadsheet daily then it is hoped that it will help with my discipline and money management, after all, who want's others to know that they failed?
On Saturday 24th August my bank stood at just over £900. Since then through bad management and a total lack of discipline it has dwindled down to £31.11 (That is never going to occur again). I have attatched a spreadsheet showing my depleted bank.
I want my bank to grow slowly, well, it has to considering the total amount within. Until I reach £100 I shall have to stake or have a liability of roughly 5% of the bank. From then on it will be 2 to 3% with each trade. A profit of 50p is better than a 1p loss. So it will have to be cash-out virtually everything that makes a profit in the beginning.
Using the BTC software I shall just use Football for my trades. It is going to be a difficult path and at times it will test my resolve I know, but hard work and determination shall I am sure see me through this very last opportunity.
At present I feel no pressure on myself to achieve this task, but who knows in a few weeks time? Just pure hard work and determination, My own "Personal Challenge".
If anyone has any suggestions to add please feel free, I shall gladly sift through them and take them on board.
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@michael-roberts great news!! Good to see you fighting back
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@Michael-Roberts Mazel tov!
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I have now been trading live again for 1 month and that depleted bank of £31.11 has risen to £256.90.
Well done Mike - that's a huge gain in a month!
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@michael-roberts that's fantastic and great news! well done so pleased to hear it.
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@mike-roberts
Some 4 months ago I posted a new thread "A Personal Challenge" My depteted bank went from in excess of £900 to a then £31.11.
It was at that point I decided to take some time off of football trading and do some research and paper trading for 3 months before trading live again.
I needed to learn discipline and bankroll management.
I have now been trading live again for 1 month and that depleted bank of £31.11 has risen to £256.90.
Yes it seemed peanuts to begin with, £0.85 and £0.39 profit with most trades, but I knew with discipline and patients the bank would very slowly grow.
It is still a small bank, but I shall keep on doing the same things and look forward to growing the bank even further. I have no daily/weekly goals, just looking at long term.
I also have to say that the BTC football software has cut down my time searching for matches by some 2/3 hours per day (depending on the day). It is in my view one of the best if not the best football tool out there. Along with one or two of the strategies that are available that have been posted by members this software has proved invaluable for myself. Thanks to the creator.
For now it is onwareds and upwards.
Stay green.
Mike -
@jarratt-perkins
I have traded LTD a few times, but have not created a strat for it. Any guidance would be much appreciated not only by myself but I am sure by others on here .
also.
Miro -
Yeah, fear of missing out is definitely one of my main issues! Think I will try and hone in on one strategy for a while and see where that takes me - cheers!
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@jordan-kane said in A Personal Challenge:
I have a question on sticking to one strategy. Do you guys recommend sticking rigidly to one strategy to begin with? I know how a number of strategies work and have been trading a number of strategies but over the last month or so I have been just below break-even overall and I am starting to think if I focus fully on one strategy I might see better results.
However, say for instance I chose LTD as my strategy to focus on but then a great opportunity arose to trade the overs one day, would you recommend being very strict and ignoring the overs trade? Or do you not have to be so rigid?You still have a fear of 'missing out' - you clearly don't want to miss any opportunity to make profit. That's good - but I don't think you're there yet. If I listened to the advice from professional at the very start, then I would've been in my current position a lot quicker!
I generally just LTD - I've been doing that for over 3 years now and don't need change.
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I have a question on sticking to one strategy. Do you guys recommend sticking rigidly to one strategy to begin with? I know how a number of strategies work and have been trading a number of strategies but over the last month or so I have been just below break-even overall and I am starting to think if I focus fully on one strategy I might see better results.
However, say for instance I chose LTD as my strategy to focus on but then a great opportunity arose to trade the overs one day, would you recommend being very strict and ignoring the overs trade? Or do you not have to be so rigid? -
@ryan-carruthers
I usually do have quite a strict selection policy. I look for STRONG FH o0.5 and o1.5 for matches. 4 out of last 5 matches for both teams where at least 2.0 have been scored. These are my only 2 strats that I am using.
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@jarratt-perkins
I can see where you are coming form and it makes a lot of sense Jarrat. Thanks.
It was a bad day yesterday and luck certainly had a part to play as I cashed out on the Pompey match at 68 mins and a goal came 2 minutes later. The I had a £20 free bet with BF and I chose a dog that I though would beat the fav. Dog took the lead in the SH ond it went to the 94th minute, great I thought, then th fav scored, the very last kick of the match, Oh well. So no not one of my lucky days I guess. That would have boosted my bank up to just over £90.
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@ryan-carruthers
The thought process was as usual. I do NOT expect to find any trades, that is the first thing everyday. I go through a lot of matches (each teams previous 5) and use pen and paper to write down every 15 minutes through each match. Goals for and against using the same kind of opposition, and in same competition/League.
Entry points vary. It depends as some teams score early goals, so I get in pre KO. Other wise I wait 10 minutes before I get in. But even then I may have to wait until the 60/70th minute before the game livens up.
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@michael-roberts said in A Personal Challenge:
@jarratt-perkins Hi Jarratt.
Yes the bank is still in front, that is a positive.
I selected those matches from research some using the BTC software and others from soccerway/FlashScores research.I think you need to start with 1 strat - so fo example LTD and create a selection policy and stick tight to it. then you can check results as you go along and tighten it up and make it work.
Once done just keep that running and work on your next and build up a few strats. The one thing I used to always look for is to have my winning just shoot up with no dips but alas you need to accept the losses and make sure the wins are greater. Yesterday could have been a bad day and luck was just not on your side.
Happy to chip in and look at creating a system - be good for others on here to see how its built up.
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@michael-roberts What was the thought process before the match when looking at at the stats?
What was the entry and exit points?
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@jarratt-perkins Hi Jarratt.
Yes the bank is still in front, that is a positive.
I selected those matches from research some using the BTC software and others from soccerway/FlashScores research. You van trust me to pick the only 0 - 0's in both Leagues. LOL. -
@michael-roberts said in A Personal Challenge:
@ryan-carruthers Morning Ryan.
OK,
Notts County v Solihull
Guisley v York (o 0.5)
Gateshead v Spennymoor (ov 1.5)
Portsmouth v Crawley (cashed out at 68 mins)Seems unreal in those matches.
I think the first positive is your bank is still up from day 1!
So you're protecting it...what made you select those ? -
@ryan-carruthers Morning Ryan.
OK,
Notts County v Solihull
Guisley v York (o 0.5)
Gateshead v Spennymoor (ov 1.5)
Portsmouth v Crawley (cashed out at 68 mins)Seems unreal in those matches.
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@michael-roberts What trades did you do buddy?
Let's try and pick them apart to find some analysis of them.
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Updated Spreadsheet:
