Afternoon all,
I saw an advert on TV the other day and it stuck with me:
The only limit is the one you set yourself.
It rang true, especially after a recent conversation about how much can be made trading on Betfair. Many people don’t realise what’s possible because they set their sights too low. With that in mind, I’ve increased my default stakes slightly and let my bank grow to handle the change.
It’s a challenging step. The last time I raised my stakes, I wasn’t mentally ready, and it set me back. But after several months at the same level, I feel prepared this time. It’ll be interesting to see how it plays out.
Day 5
Saturday started with promise. Good racing card, full day planned, and maybe even a football match later… until I realised the game I had in mind wasn’t until Sunday!
I kicked off with some dog racing before moving to the horses. Early on, I made a silly mistake. It’s something that annoyingly seems to happen to me on Saturdays. Since moving, I haven’t had Sky installed yet, and Channel 4 coverage is about 5-6 seconds behind. I was watching the horses at the stalls and trading away when suddenly: suspended, in-play. I still had £400 in the market, and what was £30 green turned into £115 red. Frustrating to say the least.
I clawed back some of it on the next race, but later a big bet came in and knocked me back to zero for the day. After that, friends rang and invited me to sit in the garden with a bucket of punch in the sun. After the ups and downs, I thought, “Why not?” By trading standards, it was a wasted day, but it was definitely an enjoyable one.
Day 6
Sunday was much quieter. The cards looked alright and I considered taking the day off, but low expectations often work well for me. And I’m glad I traded it. It ended up being one of the better days I’ve had in a while in terms of race-profit ratio. Smooth trends, good fill rate, and decent results right up to the last couple of races.
A rewarding day all round.
Related: Trading Psychology
2 thoughts on “Day 5 & 6… ‘The ONLY Limit Is The One You Set Yourself’”
If I am not too indiscreet how big are your stakes now? I usually can’t get more than 1000 pounds matched in 1 bet unless it is some multimillionaire meeting like Cheltenham 🙂
Hi Balazs, i rarely go that big and if i do it’s usually a case of adding to the position to reach that size. Generally i use 50 – 200, up to 500 frequently although it does happen theirs not many times in the day i much above that in any single trade. Hope that helps!