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Whats a pony?
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Whats a pony?
£25 |
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Is it more then a monkey?
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thought it was more then that
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Monkey is 500
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Chris, would you be punting or trading when pro?
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Bankroll is largely irrelevant. What matters is having a winning strategy and the scalability of it. It also depends on individual circumstances. I would say you need to be confident of winning at least twice what you can earn in employment before even considering it. In my case, it had to be a lot more than this as I had dependents and a very decent pension scheme.
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Steady Chris, I think Alex is a bit brutal with his points but he probably means well He is also correct whichever way you read it. Besides, what's the big deal about going full time ? What's wrong with doing a job AND betting ? I wouldn't like to think I had to win to pay the bills, especially if there is an alternative. Is it an image thing ?
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Please let me reiterate, I have no intentions of quitting my day job and going pro. I was merely curious as to the level of bankroll a pro gambler has to attain a certain net profit. I understand there is nothing set in stone as to what the requirements are, it was just a general question, hence in the general questions forum.
I have nothing against alex,but his assumption pi$$ed me off as he knows nothing about me. Plus, I apologise for calling you a cu nt. Whether you accept it is upto you bud. |
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id say doubling your bank in a year is very good if you are capable
therefore if your happy with 300 per week on average --then 15k |
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Blue ........ stick to your day job ..... why it makes sence . old mem like me have seen the kids off ........ 2 girls both married now cost me a bomb .. me and the lovely wife 39 years .... how the hell she put up with me over 39 years I dont know ..... but one day it may happen to you .......... Enjoy if you are that lucky ....... like I was .. hope that makes sence bit to much to drink .
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Too late zipper, I gave up work two and a half years ago.
In answer to the original question, it very much depends on your strategy. A trader may only need a couple of grand to make 10k a month whereas a successful position taking punter who averages the same may need a couple of hundred grand to sufficiently reduce the risk of ruin. The variance for these two types of winner would of course be enormously different too. |
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Blue Eyes .. zip dont trade .. zip dont do inrunning ... if zip dont have a strong opinion about backing or laying any horse before post time .. well zip stays out .. works for me . Happy New Year .
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There is actually a very straightforward answer to this question, and OP will hate it.
You have decided that you going to be betting for a living. This means that we assume that you are a winning player. However, any player, even the winning ones, should be prepared for the downswings that will inevitalby happen. If you think that won't happen to you, you're delusional. This means that you have to have living costs covered in advance SEPARATE FROM YOUR BETTING BANK. Depending on family status, commitments, and life expenses in general, you are looking at a different amount for every porffetional. However, everything less than 6 to 12 months worth of expenses is basically doomed to fail. Say your lining costs are 12 000 per year. And you have 12 000 put aside. So, in order to keep you expenses to 12 000, you'd need to be able to withdraw 1000 per month. Find out what your average expectancy is, and then you can easily determine your betting bank. Ex.: You think you can earn 20% of your bank in az average month. This means a bank of 5000 is required. |
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ChrisWidge 30 Dec 10:39
what level of bankroll would you need. For instance, to make these sort of profits net pcm. 1 - 1200 Like others have said, it depends on what you do. The most important thing has to be having a method that makes profit. That will dictate the funding required, not the other way round. I aim to make 0.5% of bank every trade, so a 2k bank would pay me a tenner (1point). Then I aim for circa 30 points profit per week (I didn't start with those figures in mind but that's what the method has dictated). So in your example, 2k bank to make 1200/mnth. The other amounts would be multiples of that, still based on 0.5%. Ps. Zipper I've been away from the forums for a while, but several months ago you were claiming to be a women? Are you a man again now? :) |
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kef4o.
Cheers for a response I was looking for bud. |
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trevh, response appreciated.
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Trevh ... Where have you been . On her Majestys Pleasure ? Most days I am a Transvetite.......
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Another relevant question is how you treat a losing run. I trade tennis with a balance of x but after two consecutive full balance losses I will go to 0.5x. A further two losses I would half again. This limits my potential loss to 4x.
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why do people think X bankroll = X profit
very naive imho |
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Delta .. spot on
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disciplne/ the key, always another day.
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BUNCH OF LOSERS ON THIS THREAD
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pip
.............../'¯/) ............../.../ ............/..../ ....../´¯/...../'¯¯'\ .../'/.../..../...../¨¯\ .(.(...´...´.... ./.....) ..\...................../ ...\....\............../ .....\...............( ......\..............\ |
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JamesBlakesHugeArse 30 Dec 11:41
"The market can stay irrational longer than you can stay solvent" That doesn't apply to short term sports markets though. Barring match fixing and other forms of corruption, the more irrational a market, the more potential there is for profit. The fact that these markets get settled quickly, will mean that 'the rational bettor' will prevail. There is no need to wait for a market correction (that may never come) to profit. Deltâ 30 Dec 18:21 why do people think X bankroll = X profit very naive imho zipper 30 Dec 18:26 Delta .. spot on I agree with that, but I still think this is a legitimate question. A lot of people making a profit may maintain their bank at a steady level, withdrawing the excess. Currently I withdraw far less than I make in order to grow my bank and make more money. Although it's certainly not as simple as x bankroll = x profit, the increase in bankroll will lead to an expected increase in profit. At some stage it will start to level off, and reach the point where it would not make sense to grow the bank any further. It's actually very difficult to predict where that point will be, as this is not just dependent on me, but also on the future growth of the exchange and the fact that some of the things I'm doing now may not work in the future. |