Booooom!

Trading’s took a hefty turn for me since my last post. Long may it continue!

I’m quite happy with this part-time effort… continuing like this and as far as I’m concerned it’s; happily ever after!

This kind of consistency now means im profiting more of an evening that in my day job (and it’s tax free!)

I’m both excited, nervous and completely relieved at the moment. All the hard work and bouncing around in the dark over the last year or so is starting to pay off (just don’t tell the Mrs, yet).

I’m starting to feel my way up the stakes ladder, which is fun but nerve-racking too. Just how scalable are the racing markets?

The most interesting thing is; the way I operate has barely changed whatsoever… its all been in my head! Well, recently anyway.

With all the summer racing on offer too it’s an exciting time. The opportunity to carry on with the above consistency into the evening is ideal, it may have even taken away some of the frustration for me.

What does the future hold?

Obviously it’s great to be in the position I am now, earning just £2,300 a month in my normal job. But with this consistency – around £4,000 a month of an evening, without the tax deductions!

Having put that into text it just doesn’t seem right does it? Should I now be thinking about going full-time further down the line?

It’s all happening a bit quick so I guess the answer’s not just yet… but it does leave me with plenty to think about, what would you do?

I’d absolutely love to go into work and just tell my boss to stuff-it… but I guess I’m probably amongst millions of people on that one. Maybe I’m a little over-excited at the moment but it I want to enjoy this moment a little, it’s been some time I’ve worked towards it.

Related: Betfair Trading Case-Study

 

What to do with it?

Obviously if you just worked out my yearly salary you’ll know it’s very average to say the least. So what do I do with this extra money?

The first thoughts are amongst the obvious; Holidays, New Car, Partying… but realistically I know I shouldn’t be doing that!

Reality is, some of it will happen no doubt. But there’s not much point in making a good trade in the betting markets only to then make some bad ones outside (all very boring I know). For now I’ll probably spend most of it on things I couldn’t have previously although it’s something I need to keep in mind. It’s certainly easier to lose money than make it, both inside and out of the markets.

Alternatively I could just tell the Mrs straight away – I’m sure she’ll find a home for the money! haha. It’s tempting after the negative comments I’ve had from those outside of trader-world but for now I think it’s best not to… especially until I know it’s sustainable over a number of months. That said, I’m pretty certain this is it now – profitability from here on in.