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Making 60k A Month (minus any commision, charges)
Making 60k A Month (minus any commision, charges)
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Replies: 970
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@Mr Angry - if you manage your money problem you wont go broke. correct or not?
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freddiek - i took a break for three months because i was depressed. That was about 2 years, i literally lost most if not all my bank on that weekend. But, back then i had no concept of staking, it was just whatever stakes i felt like doing, i was just lucky all my bets kept coming in
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@Mr Angry - if you manage your money problem you wont go broke. correct or not?
Betting 1% of your bank on anything, you should never go broke. But you may go down to < £2 which is, in effect, broke. |
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i remember avacado mentioned big losses. dont think he could handle it very well
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and still no mention of bank size
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Avocado. surprised he never returned to the forum. how much did you lose that weekend Special Needs Mug?
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i agree with the concept of your roullette example. However, when trading in sports it is very unlikely you will have a weekend that you keep losing all your bets on 'football' for example due to bad results in one weekend. If you have the knowledge of the sports you choose to bet in, it wont happen that all your results go against you. Roulletee is different because its pure chance. Do you agree Mr Angry?
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I think he said 20k Judge
@tobermory - i disagree with that statement entirely because if you manage your money properly and have a terribble run, it wont hurt you Cab you define ''manage your money properly''? . So what % of the bank would you risk then?? |
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TSO, this is all good in theory. Everybody can make money on here unless they are compulsive/problem gamblers. Reaction bets and chasing losses only ends in misery. Anybody who has an interest in trading/gambling full time should know not to get emotionally involved, discipline, strategy etc. Dont bet with more than you can afford to lose, if you are not comfortable with your stakes then you're risking too much. I understand what you mean about MONEY MANAGEMENT, think everyone agrees only 2% or 3% off your bank should ever be risked on any bet/trade. You just have to look at the few threads here about betting full bank on shorts odds for 1 goal or more etc. Eventually these come unstuck and wipe the bank and any profits out
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everyone differs with strategy on percentage of bank they should use but if you ask any expert in the trading industry they will telll you it shouldnt be more then 2-4% of your bank. The problem is, no-one will ever do that because they think its too small.
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The-Special-One 11 Dec 11 19:11
the thing about gambling and why people lose alot of money is not because making money is hard but when a person loses a bet they cant handle it and they go crazy with their next bet and stick the lot on something silly......! Then the regret it and start again........ Correct? Totally agree |
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Special Needs Mug. nearly 100 replies in no time. fishing much?
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3% multiplied by 24 doubles your bank in theory is that correct??/ Think that was the figures given at Centaur Academy training!
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There is a lot of truth in what you say. Managing money is a key ingredient to success. But it's meanlingless without an edge.
Taking the Roulette example one stage further: Why do punters lose? The house has an in-built 1/37 edge. But the biggest edge is that the customer runs out of money first. |
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Fair one toby I didn't see, then my reply, possible - obviously yes, feasible - 300% ROI doubtful
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tso i was in a situation like you about 18 months ago lost my bank and had a break... thought should i continue or not....my day job pays me a decent wedge enough to live comfortably wiv a missus and one kid.. but the exchnage was giving me side income which nearly matched my normal monthly income on a weekly basis.. when i lost it all (through losing one bet then chasing..) I seriously felt ill... i started again with a deposit of 100 quid... now my bank is paying me enough to leave my day job..
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TSO thinks that it is easy to make 3k a month off a 1k bank, and scaling up 60k a month off a 20k bank.
And he thinks discipline is the biggest edge? Imbecilic thread. |
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i agree with you there HUDM about everything you said, but remember something. People think its a bad think backing a 1.01 - 1.10 shot but its not always a bad thing. If you think its 'value' and are staking correctly then you can lose a 1.01 shot and still come off fine like any other bad bet. However, like you said most people go full bank on silly things like that and lose their bank.
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amazing the addictive nature of this game. Successful professional people have a few bets and can become addicted. They dont even have to be sports fans, can do their money on anything really
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i have often had discussion about 'what is an edge' in betting Mr Angry. An edge can be spotting value, seeing things others dont see etc etc. Sure, those things are great and will make you More money. But, if you have a correct money management system in place and generally no your stuff about the sport you bet in, then the figures i have stated are very very achieveable.
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its all about having the right mindset.. if your head is strong you cannot fail in this game.. dont chase and good money management is what will bring u success
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Da_Lucky_OnE
... i started again with a deposit of 100 quid... now my bank is paying me enough to leave my day job.. FFS, don't do that. Please don't. Anyone who walks out of a paying job, in this economic climate, to gamble full time is making a very very poor decision. |
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i remember once many moons ago i lost 4k on a bet.... i started a chasing and the next avilable gamee i laid a 0-0 for something silly like 40k liability! IT finished 0-0!
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yes good advice, draw the money and bank it until you have enough to live on before giving up work
if you still need to draw money weekly, monthly then you should not be giving up work |
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Another thing which i have learned is profitable long term, instead of doing trebles quads and silly accums it is better to divide your stake between selections and back singles. Profits are slow and steady if you know your chosen sport, not as exciting as 'touching' for an accumulator but the adrenaline junkies line the bookmakers pockets chasing these illusionary big wins! You just have to look at the publicity given to such wins, its free advertising for the Greedy bookies!!
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If you think its 'value' and are staking correctly then you can lose a 1.01 shot and still come off fine like any other bad bet.
A value bet is never a bad bet if staked correctly |
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Mr Angry i wouldn't do that.. I enjoy my day job and the people who i work with and at the end of the day its a guaranteed income.. even tho i make more per week here then i do at work in a month.. its never worth risking cos it takes just a couple of bad decisions and its all gone.. trust me i know and i've learnt and i've promised myself never to chase again
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Is he seriously arguing here that you can make a profit just by discipline
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yes Lucky one
if you can draw some out weekly and put it away for a rainy day, then keep going until your savings from Betfair is enough. |
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I agree that you can make a steady profit just by discipline... that is how i make my money here.. and obviously by knowing a bit about your sport/market..
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I agree that you can make a steady profit just by discipline... that is how i make my money here.. and obviously by knowing a bit about your sport/market..
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Sitting in his swivel chair, with 9 laptops/betfair accounts running concurrently, posting his wisdom hundreds of times a day on the forum, and making a minimum of 60k a month, whilst managing to avoid premium charge entirely..... all down to his superior discipline.
Right. |
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Would like to see how that ecosystem worked. 100% winners paying commission.
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I found a good sistem and i have 180% in a month, sometimes i have bad runs but i have the discipline to control myself and earnings come again. usually i make more than 30%, now for me it is more than 2.500 USD per month
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Well done Da_Lucky_OnE - that's a good decision.
If you were looking to quite your job then I would advise other income streams outside of gambling to match your wage. FOr instnae, if you took your gambling winnings and invested in property / some other dividend-paying investment then that is an excellent position to be in. You're only as wealthy as your future income. And betting doesn't count. |
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@MODK - i would like your opintion on this thread and the points made here as you one of the few that make it
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i agree tso
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one year ago also did very well with my strategys, but in the bad runs i put big amounts to recover from it (many times being profitable in the month), and these "sure bets" always took my bank to Zero
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Mr ANgry ..that is kinda what i've been doing/done... but still no matter how much i make here even if it is 60k a month it would never make me leave my job.. cos i cant see myself sitting on this site all day everyday..
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as I was saying the other day, I made a bundle in an all out assault in 2003 to 2005. Used the money to buy a property. That's good advice Mr Angry - make the money you win work for you
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