Setting A Baseline

As mentioned earlier, my public monitoring starts on the 1st April - tomorrow - so it's time to set out my starting positions.

I'm going to run separate banks for each sport I trade until such times as I have built up sufficient funds and, more importantly, suitable strategies for each. Until then, I don't want to run the risk of screwing up big time in such a manner that I wipe all my funds so that I cannot continue.

Also, I feel that keeping them separate will help focus the mind and allow me to set specific goals for each sport.

I like the idea of building up each bank from small beginnings, so, when I'm ready to start trading a new sport, I plan to start off with just £10. As I've already started on the horses and a little on tennis which have banks currently sitting at £33.30 and £13.51 respectively, I shall continue with them and only venture into other sports when I'm happy I've got the strategies in-place.

From these humble beginnings great things will grow. Well, that's the plan.

Wish me luck!


TheOddsTrader said...

Interesting with different banks for different accounts, never seen that approach before.

Good luck with everything!

Alistair said...

I suppose it is unusual. It's more of a safety feature than anything else so that I don't inadvertently wipe out my whole bank when I'm learning/developing strategies for new markets.

Once funds and experience build to decent levels I suspect all these banks will merge into one.

Anonymous said...

Hi! Alistair

Good to see that you are starting with a small bank as all I see are banks of a Thousand and more. I believe you can start small and Inclease your bank.

I wish you all the best.