The Start… £28,000 a Year Realistic?

Hi all,

So I finally decided to get a blog started, something that I’ve thought of for a while now.

I’ll do my best to update and post once or twice a week if possible. It can be difficult with a rather hectic life, although I’ve spent enough time posting on the various forums. A blog seems to make sense.

What Do I Aim to Achieve?

This may seem wild to some, but pathetic to others: to replace my annual income of £28,000 with sports trading.

At this stage, I have no idea if I’ll manage it. My trading seems to go in a bit of a boom and bust cycle. One minute I’m racking up consistent profits, then bang, a moment of insanity and the bank is gone. There’s a couple of posts on the geek’s toy forum about it (chuck536 alias). I’m certainly on the right track but the blips that take me off the road from time to time really hurt.

If I can just top up my income enough, for now, it’d be great. Supporting a young family is tough at the best of times, longer-term it’d be great to reach a level where I can do this full-time and give them everything possible… a lofty dream at the moment none the less. But everyone has to start somewhere I guess.

I think £28,000 a year is realistic enough, it’s just a case of if it’s realistic enough for me right now. I certainly need to drop the silly mistakes on their heads. Anyway, thanks for reading and be sure to drop me a comment from time to time!

This Weeks Trading:

So the bad weather seems to have passed for good (fingers crossed) and the races seem to be ticking over nicely.

For the start of the year, I’ve only had time to trade a few half days so far so its a good start considering. There’s no need to be over keen as it seems to be more of a hindrance in my book. Over time I’m sure the money will come, particularly over Cheltenham/Ascot/Goodwood, etc. So, for now, I’m just gonna start to wind up with a little here and there to grow the bank a little. Started the year with a £600 bank after a rather good Christmas!

Here’s where we’re at since the new year…

Horse racing – £192.07 Greyhounds – £16.03

Total – £208.10

I’ve made a couple of little errors since starting, although I seem to have got away with them for now. No more of that!

Looking forward to recording and sharing my progress along with my thoughts on the markets!

What is Betfair Trading?

Update: 1 year later I quit my job and went full time…