Holding myself to account
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Finally, after dabbling around the fringes of trading for a while, I am committing to taking this seriously.
It has taken me a while to get to this point as I am moving over from matched betting, where I believe I have been successful, although I suppose that it all user relevant and I'm not sure what other people have made using the process.
I still have a number of accounts but think the reality is maybe 6 months before the time:reward ratio flips to the no longer worth it side. My goal therefore is to be in a position where the trading side picks up the slack over the next few months and becomes the main staple of my extra income by the summer.
I have been working on an under 3.5 goal strategy for a while (the back testing will really push this forward), alongside trading correct scores at 1-1 and 2-1. Over the last couple of months am continually up by an average of £15 using £1 stakes, but have "left" a number of correct score trades on the table, having decided to trade one per day and paper trade the rest. I find having a bit of money involved, even if it is only £2 makes me focus a little more. The reality of the combined total is closer to £65 per month.
Why I am writing this? Just as I believe the secret to the success of Slimming World lies more in the peer pressure of communal weigh ins rather than the proposed diet, I am hoping that adding a monthly update on here will add a bit of peer pressure to my trading.
I also needed to find a goal to work towards to keep pushing me along. Obviously I have already mentioned replacing matched betting, but I do not believe this is enough to drive me. My wife likes Audi's and her birthday is next September. My goal therefore is to be able to take her into a dealership on her birthday and buy her the car she wants. Not outright, I think that would be aiming too high in 10 months, but to cover the finance without any problems. To be honest, I would be disappointed the monthly earnings couldn't easily do this at that point, but for now i'd rather keep the goal more achievable to avoid any disappointment affecting my focus.
If you have read to the end of this, well done, and hopefully I will be back in January with some positive results.
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@Jamie-Bourne fantastic read, always wanted a TT myself but it's not practical with the kids, when I retire I will get one or something better!
Good luck with the trading, sounds like you have a sound strategy! Keep us updated
