The Bet Your Life Plan

I've been looking at sports trading, off and on, for some time now and I think it is time that I gave it a serious go. Unlike many trading blogs you may come across, I'm doing this as a hobby. I'm not investing huge amounts of money - I've been tinkering for the past 6 weeks and started off with £10, which is now sitting at £30ish.

This is purely something that I will be doing to pass the time - because I enjoy it. If I happen to make a few pounds along the way then that's a bonus. So what's the plan?...

1. I'll be concentrating on the pre-race horse markets. However, I'll ultimately be looking at tennis, football and possibly other major sports events such as F1. When I do, I'll be using a separate bank for each.

2. For fast moving markets like the gee-gees, it's imperative that dedicated software is used. As a Linux user, I'm limited in that most trading applications are written for Windows. Fortunately, one of the best is a cross-platform application called BinarySoft BDI. I've been using this for the past 6 weeks or so and can thoroughly recommend it.

3. I intend to maintain this blog to chart my progress, as well as ramble on about sports in general. I shall endeavor to post at the end of every trading day. This, in itself, will help maintain my discipline. I will start this process on Tuesday 1st April - April Fools day, which I thought was somewhat appropriate.

And that's it. By re-investing my daily profit, I hope to grow my bank to such a level where I can start taking money out - not forgetting that this is not intended as a replacement for the day job.

Let's see how it goes.

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