I’ve kicked off the year and I intend to continue!
After a productive week of work, I enjoyed a refreshing break in Costa Adeje, Tenerife. It was the perfect antidote to the dreary winter weather, and I’ve returned recharged and ready to tackle the markets head-on.
The break also provided ample time to reflect, particularly on Pareto’s Principle, which I’ve mentioned before. Moving forward, I plan to focus more on optimizing my trading by skipping the least profitable days/markets and doubling down on the most lucrative opportunities. I’m also curious to see how applying this principle outside of trading might benefit my everyday life.
Soaking up some rays at the poolside last week…
This was my first visit to Tenerife, and I’d definitely consider going back, perhaps when it’s a bit warmer. Though we had only one day of less-than-ideal weather, I can’t really complain!
The trip was a wonderful break from the post-Christmas hustle, allowing me to relax, enjoy some new experiences, and meet new people. Highlights included dolphin watching, a VIP cruise on a catamaran, indulging in the local cuisine, and an afternoon of unintentional overindulgence thanks to the ‘all-inclusive’ alcohol.
Back in business…
Having taken a week off, I’m slightly behind on my target for this year’s challenge. However, I’m not worried, as I expect to make up a significant portion of my annual target from mid-March to early August.
The Flat season, with its fuller markets, is just around the corner. For those new to trading summer races, the wait will be well worth it. And for those who participated last year but didn’t quite master it, this season offers a promising opportunity to achieve better results and possibly increase your stakes.
Exciting times lie ahead. Good luck if you’re trading this week!
Related: Scalping Betfair a Beginners Guide
11 thoughts on “Back in action!”
Have you factored in the premium charge for the years target… does my head in as i always forget till they take a slice.
Hey ron, the 100k isn’t excluding the PC unfortunately. I know the feeling mate, most weeks i log in on a wednesday and start to panic thinking my account is a few hundred quid down! At least i don’t get as far as phoning up before i realise anymore haha.
Hi Caan and Ron. Is it possible to trade using a partner/family member account in order to dodge the PC? Seems wrong to take so much commission from the most successful traders. Do you have to reach 250k before they start to take their 60% or whatever it is now?
hi caan. How many % of your betfair capital do you trade in single race? what is your average profit% in a week or daily `?
thanks. I’ve been learning to trade with smaller amounts but would like to get serious. what kind of capital did you start with full time?
hi Caan. how much do you trade from your betfair capital per trade? how much you make average weekly % to your betfair capital?
I thought I read somewhere that the fees only apply to the really high rollers 300k +. Are there different % brackets based on earnings?
Hey Chris, i’ve heard of people attempting it but its not worth it in my opinion, betfair close accounts they suspect of it.
Alan its 250k Net profit before the 60% charge, until then its only 20% which is fair enough seeing its tax free
Pepe – on average i think i use about 5 – 10% of my bank per trade, dependant on the situation. However i do that many times entering and exiting the market in the last 10 minutes to the start.
Hi caan ,
Nice to see you had a good break and are feeling fully refreshed : )
Just want to ask if you are keeping your eye on ladbrokes exchange ? It seems to be picking up quite a bit and there is a lot more volume going in,i feel betfair are going to have serious competition within the next 18 months and sooner or later they will have to cut the premium charge by some margin in order to keep ahead. I feel it is going to be an exciting next 12-18 months with a lot of opportunities for the traders ,whats your thoughts on it caan ?
thanks Caan. And you much you make profit % average in a week to your bank?
Good post, thanks for sharing! inspirational, Caan.