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!

3 comments:

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.

JimMac.