A New Old Plan

As I mentioned yesterday, over recent days I have had cause to revisit some of the older posts on the Bet Your Life blog. I've found this most helpful and found myself rethinking my approach to trading, why I'm trading and what I want to get out of it.

That will be an ongoing process but one thing I have decided to do is return to basics, particularly when it comes to trading the horse race win markets. Over recent months, I've made no secret of the fact that I've struggled to make any significant headway in these markets. So much so, that I feel a different approach is required.

Those of you who have been reading my ramblings from the start will recall I first set out on this journey with £10 in my pocket and started trading the place markets. I would reinvest any profit in the next race and so build up my bank as I learned the ropes. I've decided to repeat this type of exercise in the win markets.

A couple of small variations though...

Firstly, I'm not reinvesting in the next race. My stake each day will be increased with the profit from the previous day. If no profit is achieve, the stake will remain the same.

Secondly, I intend to only back first. This is partly due to the way BinarySoft works, but mainly because I want to concentrate on finding shortening prices. This will also have a long term benefit for other areas such as arbing and bonus bet matching - two very useful weapons in a traders armoury in my view, but something I've been very slow to take advantage of.

I've not taken this decision lightly. To essentially start again and spend hours earning pennies was not something I really wanted to do. However, I've spent the past few months trading in such a haphazard manner in the hope that the win markets would suddenly just click. This simply hasn't happened. Hence the new approach.

Though given that I've done it all before when I first started, perhaps I should call it the old plan.

I'll carry on with the greyhounds, but in a much reduced capacity. I simply want to spend less of my time trading. My brain has suffered from trading overload and I need to readjust that.

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