General Betting
Welcome to Live View – Take the tour to learn more
Start Tour
There is currently 1 person viewing this thread.
I find it very easy to turn £100 into £1000. I'll probably do it inside a week - 9 days max.
But I would never be able to turn £1000 in £10k inside a week - 9 days.
I find I start to bet stupidly and chase my bets. Where as I trade with 20% of my bank when I may have £200, I'll do the same trading with 2% of my bank with £2k so I have no consistancy.
Anyone able to give me that little bit of advice that helps me. I have tried just playing with £100 but I then throw it on some stupid horse race or football market knowing I have money in the account sitting.
Cheers
But I would never be able to turn £1000 in £10k inside a week - 9 days.
I find I start to bet stupidly and chase my bets. Where as I trade with 20% of my bank when I may have £200, I'll do the same trading with 2% of my bank with £2k so I have no consistancy.
Anyone able to give me that little bit of advice that helps me. I have tried just playing with £100 but I then throw it on some stupid horse race or football market knowing I have money in the account sitting.
Cheers
Show More
well just keep turning 100 into a 1000 wots the problem??
a grand a week and youre worried? can i have your problem please?
Mentally - I'll do something stupid, knowing I have £900 in the account I could call upon
yeah but just repeat what you are doing then if its not enough..150 to 1500 perhaps
http://en.wikipedia.org/wiki/Utility#Utility_of_money
http://en.wikipedia.org/wiki/Behavioral_economics
Investigating these subjects will probably help to explain the problem. In summary, when the stakes go up beyond a certain point, people become irrational.
http://en.wikipedia.org/wiki/Behavioral_economics
Investigating these subjects will probably help to explain the problem. In summary, when the stakes go up beyond a certain point, people become irrational.
Thanks Wee Mac - Any idea or mental approach I could use
level mental state. write a journal to keep you focused, question everything you do
diminishing liquidity for any given strategy, constantly change
diminishing liquidity for any given strategy, constantly change
Develop discipline and use a spreadsheet to design efficient money management and staking, and stick to it unless results prove your method is flawed.
If you can make 900% in a week then you are taking risks and perhaps it is no suprise that your good run comes to an end fairly quickly. Staking could be a red herring and you are simply a risk gambler.
Why don't you post the bets you put on with your normal stakes
We'll bet the rest
That way your behaviour isn't impaired by the money
;)
Personally, when I trade the stock market I hide the P/L window so the numbers dont affect me. I just look at the price of the share/index etc and try to forget how much I have bet per point
We'll bet the rest
That way your behaviour isn't impaired by the money
;)
Personally, when I trade the stock market I hide the P/L window so the numbers dont affect me. I just look at the price of the share/index etc and try to forget how much I have bet per point
Thanks Lads - alway good to see info from people who have a long history with the site offering info.
I have a spreadsheet done and I am making on Average 33% profit a day give or take. Today operating on a £800 bank I am at 43% - http://s159.photobucket.com/albums/t146/bazalini/?action=view¤t=today.jpg
I have a spreadsheet that records my daily profits, a target profit and a detailed analysis of sports market profits over last 3 years. This has given me now a set of rules to follow - Should I be more detailed with my bets and be recording them to. That would be difficult as I trade alot.
I have a spreadsheet done and I am making on Average 33% profit a day give or take. Today operating on a £800 bank I am at 43% - http://s159.photobucket.com/albums/t146/bazalini/?action=view¤t=today.jpg
I have a spreadsheet that records my daily profits, a target profit and a detailed analysis of sports market profits over last 3 years. This has given me now a set of rules to follow - Should I be more detailed with my bets and be recording them to. That would be difficult as I trade alot.
Alex the old wrinkled retainer 06 Apr 17:33
If you can make 900% in a week then you are taking risks and perhaps it is no suprise that your good run comes to an end fairly quickly. Staking could be a red herring and you are simply a risk gambler.
The only risk is been able to afford to gamble. That is not a problem. Any idea as how I could change
If you can make 900% in a week then you are taking risks and perhaps it is no suprise that your good run comes to an end fairly quickly. Staking could be a red herring and you are simply a risk gambler.
The only risk is been able to afford to gamble. That is not a problem. Any idea as how I could change
Just analyse your profits and your losses.
You say that you have spreadsheets that record your profits. Do you have similar ones to record your losses? Seeing where you are going wrong is just as important as seeing where you are doing well.
Rob_S 06 Apr 17:33
Why don't you post the bets you put on with your normal stakes
I did that here once - after getting feed-up with the sh1t on the forum http://site.forum.betfair.com/jive3/betex/ThreadsFrameset.jsp?forumID=25&for...
Why don't you post the bets you put on with your normal stakes
I did that here once - after getting feed-up with the sh1t on the forum http://site.forum.betfair.com/jive3/betex/ThreadsFrameset.jsp?forumID=25&for...
Punting Prowler 06 Apr 17:40
You say that you have spreadsheets that record your profits. Do you have similar ones to record your losses? Seeing where you are going wrong is just as important as seeing where you are doing well.
I keep information on the markets I bet on and know which ones I can make money on consistantly.
You say that you have spreadsheets that record your profits. Do you have similar ones to record your losses? Seeing where you are going wrong is just as important as seeing where you are doing well.
I keep information on the markets I bet on and know which ones I can make money on consistantly.
are you purely gambling or do you have any edge?
I find I start to bet stupidly and chase my bets.
The sort of comment that follows the backing of losing bets. Don't stupid bets ever win ? Of course they do, but we call them something else.
The sort of comment that follows the backing of losing bets. Don't stupid bets ever win ? Of course they do, but we call them something else.
If you could automate your bets and take the emotion away, you would be elected, so you would.
When the stakes go up the margin gradually disappears because the money available to take at best odds is not infinite. What's profitable at £100 a pop might not even be profitable at £1000 a pop let alone give you the same rate of return. I'd be a multi millionaire by now if that was the case.
A great example of this is the premium charge. Basically what it does is tap into 20% of your stake. For every £100 you bet you are really betting £80, Betfair is taking the other £20. If it was as simple as increasing your stakes to £125 so you are actually betting £100 at the same odds the charge would be incidental, but even a mere 25% increase in stakes is a formidable obstacle let alone a 900% increase
Your making £900 per week, and seeking advice to make even more ? I guess your one of the highest earners on Betfair, so there can be very few people around to help you !
You are probably going to fast and trying to over-win the amount you are right.
Bazalini. 06 Apr 18:02
No edge - Just Gambling
That's your problem. When you're 'just gambling' you're gonna win a bit, lose a bit, win a bit, lose a bit. Try and concentrate on markets where you think you can consistently beat the market.
This is a strange post, as you kind of answered your own question in your first post surely, if you read what you wrote!
Alright Stu. I think what I am looking at is some mental stuff to keep my mind on track.
As your bank increases, you find that if you are not staking more, you are probably taking on more events inorder to "keep up the pace".
I find two elements that help:
- bring down your target per day. I think the math is 100 into 10,000 is 5% a day for roughly 100 days. Thus, doubling your bank every ten days. Well, if you are going to make 10,000, what is an extra 100 days?
First 20 days - 5%
Second 20 days - 4%
Next 20 days - 2.5%
Between discipline and increased abilities, you should be able to maintain and be selective after that for steady gains.
- Don't look at your account gains and losses on a daily basis. Look at it over the week. It all balances out over the week. You will have good days where you are in a groove (but should walk away "a winner" or reduce your risk significantly as the day progresses) and on bad days, they get put in the mix rather than chased.
- If you are setting targets and are working through the week, don't count weekends. Thus Monday, your percentage bank gain or loss is based on five days work. For me, I tend to do straight bets on the weekend and let the results roll. Even the Grand National, two bets placed and didn't watch the race till 10 that night. No trading. Football the same. Hockey the same. It makes you selective, tends to make you stake as a flutter and doesn't involve staring and pixels all day.
Works for me. Perhaps it will work for others.
Shapeshifter
Survivor since April 2003
I find two elements that help:
- bring down your target per day. I think the math is 100 into 10,000 is 5% a day for roughly 100 days. Thus, doubling your bank every ten days. Well, if you are going to make 10,000, what is an extra 100 days?
First 20 days - 5%
Second 20 days - 4%
Next 20 days - 2.5%
Between discipline and increased abilities, you should be able to maintain and be selective after that for steady gains.
- Don't look at your account gains and losses on a daily basis. Look at it over the week. It all balances out over the week. You will have good days where you are in a groove (but should walk away "a winner" or reduce your risk significantly as the day progresses) and on bad days, they get put in the mix rather than chased.
- If you are setting targets and are working through the week, don't count weekends. Thus Monday, your percentage bank gain or loss is based on five days work. For me, I tend to do straight bets on the weekend and let the results roll. Even the Grand National, two bets placed and didn't watch the race till 10 that night. No trading. Football the same. Hockey the same. It makes you selective, tends to make you stake as a flutter and doesn't involve staring and pixels all day.
Works for me. Perhaps it will work for others.
Shapeshifter
Survivor since April 2003
jeeezus....six years last week........and not even flowers from Andrew.......
Cheers for that SS. Think you are right about the days. Need to focus on longer target spells.
How do you discipline yourself on the weekend SS. Do you just switch off the PC.
I start my week on a Monday and I find if I am ahead of target I can be wasteful over the weekend, while if I am below target I know I'll make it up over the weekend.
Thanks lads for all the ideas. All I will look at.
I start my week on a Monday and I find if I am ahead of target I can be wasteful over the weekend, while if I am below target I know I'll make it up over the weekend.
Thanks lads for all the ideas. All I will look at.
Forgot to add....green out more if you can, even if just a portion.
i.e. horses, if you are laying 10 pts and risking 50 pts, if it drifts out, cut into your profit and reduce your risk more than you would do at lower stakes/risk.
You'll find that the curve of "the graph" smooths out more and less of a chance of tilt and chase kicking in.
As far as turning off for the weekends:
- I research my football and hockey bets on Friday. I make notes on conditions (i.e. line-ups, etc). So Saturday, wake up and make my flutters.
But what makes it easier is three factors: Shapeshifter jr, princess Shapeshifter and Mrs Shapeshifter. Much more fun to spend time with than the pixels.
i.e. horses, if you are laying 10 pts and risking 50 pts, if it drifts out, cut into your profit and reduce your risk more than you would do at lower stakes/risk.
You'll find that the curve of "the graph" smooths out more and less of a chance of tilt and chase kicking in.
As far as turning off for the weekends:
- I research my football and hockey bets on Friday. I make notes on conditions (i.e. line-ups, etc). So Saturday, wake up and make my flutters.
But what makes it easier is three factors: Shapeshifter jr, princess Shapeshifter and Mrs Shapeshifter. Much more fun to spend time with than the pixels.
Bazalini. 07 Apr 10:25
I start my week on a Monday and I find if I am ahead of target I can be wasteful over the weekend, while if I am below target I know I'll make it up over the weekend.
Why "make it up?"
Have some flutters on some football matches or your sport of choice. Enjoy watching the match or the race (if you back, fine, put up a keeper at 1.11 to recoup if nicked at the line).
It is about time you spend in front of the screen. Less can sometimes be more (thus why I look at it over a week rather than day to day).
And, if you feel you need to "make it up", then make it up the following week. If your flutters lost a bit, so be it. Made a bit, great. Less to "make up".
But it is about headspace.
I start my week on a Monday and I find if I am ahead of target I can be wasteful over the weekend, while if I am below target I know I'll make it up over the weekend.
Why "make it up?"
Have some flutters on some football matches or your sport of choice. Enjoy watching the match or the race (if you back, fine, put up a keeper at 1.11 to recoup if nicked at the line).
It is about time you spend in front of the screen. Less can sometimes be more (thus why I look at it over a week rather than day to day).
And, if you feel you need to "make it up", then make it up the following week. If your flutters lost a bit, so be it. Made a bit, great. Less to "make up".
But it is about headspace.
best thread ive read for a while, have really just been messing about since i joined, thx to all the peeps who took the time, think ive seen the light
Will certainly take alot of your stuff on board SS. I need to get my head around alot of stuff. If I can control of that I would be sweet.
BAZZA i think if you get over the DISCIPLINE factor you have a big chance of reaching your goal BOTTLE you have got but like a lot of us we wont it to to quick TIME and DISCIPLINE if wee can control them we have a chance to make decent WAGES
Baz
Similar problem.
I start with three hundred and make a grand (or two)
The answer is to bank the grand and go back to
the start bank.
That way you back according to the lower bank
and make sound decisions rather than risking higher
amounts on might win situations, particularly lay bets.
Took a few years to work that out and a few more years
to stick to it!
Similar problem.
I start with three hundred and make a grand (or two)
The answer is to bank the grand and go back to
the start bank.
That way you back according to the lower bank
and make sound decisions rather than risking higher
amounts on might win situations, particularly lay bets.
Took a few years to work that out and a few more years
to stick to it!
Everyone has a different level where the amount starts to effect their decision making. For some it could be just a tenner some it can be thousands. It does not matter how much you have made before it still important that when you gamble you have a clear mind and that the amount staked is not bothering you when you are working out your bet. Why not keep making a grand and then when you hit it withdraw 500 so your bank never goes over that amount. When you get comfortable with that you will know when the time is right to up your stakes. No need to rush it
King
Two heads are better than one, especially when they come to same conclusion.
Two heads are better than one, especially when they come to same conclusion.
Hi Bazalini,
Having had a read through your thread from last year it seems you have a very good idea/feel about making the right selections but little discipline in terms of your staking plan.
You risk a large % of your bank on bets. I guess from the way you bet you must have some idea of what you feel represents value in a bet even if you cannot define how much value there is.
Given the way that you seem to bet from the limited information available i think you will be best suited by going down a daily withdrawal method.
Work out how much you want to win and what sort of bank you want to achieve this with and stick to those limits.
Judging by the way you bet you would be best depositing and withdrawing on a daily basis. ie, put $500 in each morning and take out what ever is in the account at the end of the day, wether that is a loss or not. the next day restart with $500 etc, etc,
This will limit your bad days and prevent chasing and should keep your bets in the region you are mentally happy working in. If you also tend to** money on stupid bets then open a second account for 'gambling' and keep your main account for making your serious bets.
Assuming you still want to make the returns mentioned on the other thread ($100k p.a. and a 30% increase per day) you could use a daily deposit of $1500. Once you have increased the bank by $500 stop and withdraw then start again tomorrow with $1500. This would give you $100k in 200 days and gives you a reasonable target given the way you bet.
If you really struggle with discipline get someone else involved and make yourself accountable to them for each days performance, it helps if this person understands/approves of gambling though!!
Good luck
Having had a read through your thread from last year it seems you have a very good idea/feel about making the right selections but little discipline in terms of your staking plan.
You risk a large % of your bank on bets. I guess from the way you bet you must have some idea of what you feel represents value in a bet even if you cannot define how much value there is.
Given the way that you seem to bet from the limited information available i think you will be best suited by going down a daily withdrawal method.
Work out how much you want to win and what sort of bank you want to achieve this with and stick to those limits.
Judging by the way you bet you would be best depositing and withdrawing on a daily basis. ie, put $500 in each morning and take out what ever is in the account at the end of the day, wether that is a loss or not. the next day restart with $500 etc, etc,
This will limit your bad days and prevent chasing and should keep your bets in the region you are mentally happy working in. If you also tend to** money on stupid bets then open a second account for 'gambling' and keep your main account for making your serious bets.
Assuming you still want to make the returns mentioned on the other thread ($100k p.a. and a 30% increase per day) you could use a daily deposit of $1500. Once you have increased the bank by $500 stop and withdraw then start again tomorrow with $1500. This would give you $100k in 200 days and gives you a reasonable target given the way you bet.
If you really struggle with discipline get someone else involved and make yourself accountable to them for each days performance, it helps if this person understands/approves of gambling though!!
Good luck
Thanks for that Reply- RitzyDelandro. Much apreciate the time gone into that.
You seem to have a handle on it. I do withdraw but I feel I am wasting money when I withdraw.Taking a £2k back down to £200 means a £50 win is not £500. Its something I need to get my head around.
I have decided to make it to £5k slowly and withdraw. I have about 5 streadsheets on the go and added a new rules. If I lose 20% of my account I close my betting down for the day.
You seem to have a handle on it. I do withdraw but I feel I am wasting money when I withdraw.Taking a £2k back down to £200 means a £50 win is not £500. Its something I need to get my head around.
I have decided to make it to £5k slowly and withdraw. I have about 5 streadsheets on the go and added a new rules. If I lose 20% of my account I close my betting down for the day.
Pinza, KotD and Sevey again thanks for the replies.
As I said I'm going to make it to £5k slowly and then come back here and see what I'll do. Have withdrawn all my bank now so it is sitting at £1k.
As I said I'm going to make it to £5k slowly and then come back here and see what I'll do. Have withdrawn all my bank now so it is sitting at £1k.
on your last point baz re: 20% stop loss, i would tend to make it more like 5%
A day is a crazily short timeframe, imo. A rational decision to stop can't possibly be reached in terms of only one day's activity. More like 3 months, imo.
I know few will agree with me but if there's one thing I think is plain wrong thinking it's to measure these things in terms of one day.
There, I've said my piece.
I know few will agree with me but if there's one thing I think is plain wrong thinking it's to measure these things in terms of one day.
There, I've said my piece.
I haven't brought this back up to mock you Baz it just seems you have never resolved your previous problems and continue to make the same mistakes. It seems you suffer when you get out of your comfort zone so just stay within it.
I'll take on board, but a year ago I was very much looking at my staking patterns and why I found making money when I had a small bank easy...
I've worked on that and find I am comfortable with what I have changed...
I now need to examine my mental approach to why I chase small bets..
I've worked on that and find I am comfortable with what I have changed...
I now need to examine my mental approach to why I chase small bets..
It's an ego thing. The thought that you got it wrong, and your balance has decreased because of this, plays on your mind and makes your head tell you that you're too good for for that and so you place a random bet to get it back plus the profit you think you should have had for the unsuccessful bet leading to the chase.
If you know you are successful over the long term make your balance invisible, difficult if you follow certain staking plans i know, and check on a weekly basis.
If you know you are successful over the long term make your balance invisible, difficult if you follow certain staking plans i know, and check on a weekly basis.
Grand Sevy - Changed alot of things.... Think I have had to put more value on what exactly money is...
Sometimes you think you can be playing with Monopoly money... Someof the stuff that was said here - has certainly helped... Now concerned with my mental approach to chasing fecking small bets...
I had a £5 bet on Sporting the other night and I was livid with the goal in the last second. I then went and placed a bigger bet then normal on another football game I had no clue on. (Corinthians).. My bank account is sitting at £8k so a fecking £5 bet shouldn't make me do that but it did.. But then I can tell you about the £400 Bet on Villa on Sunday (5% of bank - which made me chase that on Sunday with 4 further sh!t bets which saw me lose £1600) - That is something I need to rid...
Sometimes you think you can be playing with Monopoly money... Someof the stuff that was said here - has certainly helped... Now concerned with my mental approach to chasing fecking small bets...
I had a £5 bet on Sporting the other night and I was livid with the goal in the last second. I then went and placed a bigger bet then normal on another football game I had no clue on. (Corinthians).. My bank account is sitting at £8k so a fecking £5 bet shouldn't make me do that but it did.. But then I can tell you about the £400 Bet on Villa on Sunday (5% of bank - which made me chase that on Sunday with 4 further sh!t bets which saw me lose £1600) - That is something I need to rid...
Losing is the hardest thing to come to terms with, we all want to / expect to win and end the day with more than we started with. Doesn't always happen, how you deal with that is key. i.e. bigger picture. Also you may find that when you get a nice bank built up you will find it easier to throw a 50 or 100 at something knowing you have that bank to fall back on. Would have backed that selection if it was your last tenner. You are at your most vulnerable after a win, elements of greed take over.
Bazza 8k was a nice bank nobody cant stop people doing what they want to do take the foot off the gaz a bit 5% of 8 k a week would be nice wages in some peoples mind take care & good luck
Post Your Reply
Please login to post a reply.
Wonder
Instance ID: 13539