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The £1Million Challenge

Progress Report

04 Apr 11 12:14
Start Bank £1,000
Current Bank £1,301 (+30%)

Hello there,

Last week I had two losers and nine winners which were ARALDUR, IRIE UTE, E STREET BOY, BEAR DANCING, MAJURO, REDAIR, CONNECTIVITY, RANGITOTO, and ICANRUNCANYOU. Most of them were Place only bets but seven of them came 1st and the other two finished 2nd.

Obviously I would have had to stake less on them and would have won more if I had backed them all to win! But then I would have lost my 'edge'. My edge is to have a very high probability of consistent success and that is for my selections to finish 1st, 2nd, or 3rd and betting to win a consistent percentage each time. If I start messing about with that philosophy and a bigger percentage just achieve places and don't win I would lose my edge, so consistency is the key to my approach.

My win target this week is 5% of the current bank which is £65 for the week, giving me a daily average of £9 per day over seven days and my goal is to finish the week at £1,366 or better.

At this time of the year with the start of the Flat season you really have to be a bit careful as there are so many Maidens and unknown quantities. One of my golden rules is to only back horses which have had a recent run within 40 days, so at least I can't get caught out by a short priced favourite which hasn't had a run for 185 days!

Today I am backing SHERIFF HALL in the 3.00 at KELSO for a Place. This is a ten runner handicap likely to be run at a good pace which should suit the selection and I am hopeful of getting a result with 1st, 2nd, or 3rd. My stake was £21 to win £13 (1%). As a friend said recently, if I lose I won't be going broke anytime soon! And I am in this for the long haul. But hey, three or four years to a £Million, it has to be worth the effort.

T.T.F.N.
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