When I was making the likes of above (if you look at the very earlier entries of this blog) I never had any outsides debts and from memory was using around 5k and building gradually through trading - there were rarely any gambles involved. I've just made so many mistakes in the past few months and one of them was playing with a number of small banks and trying to get to 1k+ the fast way, which was not the way to go in hindsight. Another has been waiting for someone to step forward with a couple of grand based on what you can see in the earlier entries of this blog, but there were no takers and in the process I've gone into big debt. Which I only blame myself for.
I'm at the stage now where I need to ask myself questions, and think about how I can go about this realistically as it is having a negative impact on real matters which is not a good thing.
23rd June - 23rd July 2011:
Australian wallet:
Total P&L: +£106.95
im down £10 today John
ReplyDeleteWhat on? :-) Did you lay Phil Taylor?
ReplyDeleteHate to say it but give up John, you aren't going nowhere but downhill at the moment and wasting your time and money.
ReplyDeleteBetfair's not going to disappear any time soon so take a break and get a job to build up the bank you obviously need to play properly.
Dunno why you think someone would step forward when you've never pursued that direction, despite people suggesting it. Early on I'd have been prepared to take a punt as a few K wouldn't make any real difference to me, win or lose, as I know what profits are possible on betfair. I wouldn't take that risk now as regardless of whether you have an edge your mindset isn't where it should be and I'd be worried you'd end up taking risks just to prove yourself.
That's not to say others won't take a chance as there's plenty out there now looking for opportunities/accounts with the 60% PC hike.
John,
ReplyDeleteYou must be aware of the fact that the Betfair markets change over time (and generally get harder). You might have had an edge in the past which is simply no longer there.
I' aware of that mate. Snooker for example as changed a lot. They've altered the clock for example, when placing a bet in-play and because of that, it has had an impact.
ReplyDeleteAlthough as I've said, my only problem is bank size. There's still big money to be made.
must be more of an issue than your bank size, if it were just that then you would just need to scale down things until you had your magic number
ReplyDeletebottom line is you are still losing, have been losing for months and without a doubt need to look at something else
No, it's bank size mate. Give me 1k and I'll show you ;-/.
ReplyDeleteJoking aside, I need to find my own way of getting the money. Need to think about things regardless, because money doesn't not grow on trees.
I'd give you 1K john but you said you had that last time and came up with excuses of having to reduce it to pay off debts. What's to say you won't do the same this time? Have you finally paid off the debts? or will some of the cash be used for creditors?
ReplyDeleteIf I can figure out some ringfenced account I may consider it :)
By ringfenced I guess it means one you can't withdraw from to your bank accounts like a completely separate account
ReplyDeleteis that what it means? Sounds fair enough if I was to go that route, which looks unlikely now.
ReplyDeleteNo problem John, was just a suggestion.
ReplyDeleteGood luck with which ever route you're now taking.
John, can you do your next update from 23rd of July so we can see how you are actually doing week to week? You did say you were going to do it that way but you haven't yet.
ReplyDelete