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Ok, not claiming to have found the golden egg or anything but have been following something for many a month. After some fine tuning I put the plan into progress ( only paper trading ) and after 37 days it shows a clear profit of 48.25 points.
The percentage plan works well, i.e, 1,2,3,4 or even 5% of your daily bank on each bet but when a loss occurs it hits you very hard. I've had 9 losing days so far the biggest being - 7.15 pts. Obviously like in any business so long has the profits outweigh the losses then your on the money.
In a nutshell,
37 days
9 losing days ( biggest loss of 7.15 pts )
Overall profit of 48.25 points.
Anyone use or know of a staking plan that could maximise the profit.
Like I said, it's early days yet, I may even follow this for 12 months before I put my hard earned on, just want to try some staking plans and do a little number crunching etc.
Any info greatly appreciated [;)]
The percentage plan works well, i.e, 1,2,3,4 or even 5% of your daily bank on each bet but when a loss occurs it hits you very hard. I've had 9 losing days so far the biggest being - 7.15 pts. Obviously like in any business so long has the profits outweigh the losses then your on the money.
In a nutshell,
37 days
9 losing days ( biggest loss of 7.15 pts )
Overall profit of 48.25 points.
Anyone use or know of a staking plan that could maximise the profit.
Like I said, it's early days yet, I may even follow this for 12 months before I put my hard earned on, just want to try some staking plans and do a little number crunching etc.
Any info greatly appreciated [;)]
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Try looking at a 50% Kelly plan if you can identify your edge or alternatively each way doubles, both of which in conjunction with level stakes are the only real staking plans worth considering. However if you have something that is not broken then why fix it..
Cheers Prof,
Hardly broken, hardly started aye lol. What I mean, each point could be a nicker thats £48.25 profit, but if it was a grand each bet then we talking proper money. The system is laying so each way doubles are out of the equation. The above numbers are at level stakes, is there a staking plan that generates more to maximise the systems profit?
Hardly broken, hardly started aye lol. What I mean, each point could be a nicker thats £48.25 profit, but if it was a grand each bet then we talking proper money. The system is laying so each way doubles are out of the equation. The above numbers are at level stakes, is there a staking plan that generates more to maximise the systems profit?
As Prof says, you need to use Kelly staking, or a variant of it.
Lori,
So Kelly staking would give a better return than level stakes, will look into it mate, thanks.
So Kelly staking would give a better return than level stakes, will look into it mate, thanks.
Only if you're sure you can quantify your edge though.
Still worth understanding the principles as you can apply them to an extent to improve on level stakes.
Still worth understanding the principles as you can apply them to an extent to improve on level stakes.
What about using the Kelly plan to what you expect a horses SP to be compared the early prices available?
Your staking plan should be relative to your system strike rate, you don't give much away in the sense of % of succesfull bets.
If you have a very high rate of succesful bets an all up your profits for 3-4 bets would work well, then after a loser or 4 succesful bets drop back to starting stakes. This ensures your risk is still your starting stake but you get to increase profits by reinvesting your profits.
Remember this only works if you have a very high strike rate IE 80%+
If you have a very high rate of succesful bets an all up your profits for 3-4 bets would work well, then after a loser or 4 succesful bets drop back to starting stakes. This ensures your risk is still your starting stake but you get to increase profits by reinvesting your profits.
Remember this only works if you have a very high strike rate IE 80%+
You can counter that by making the staking plan a % of your starting bank for every bet. That was stakes are standardised and losing runs or winning runs will not effect you're staking. You will only have to beat the SP to be a long term winner.
If you're up 48.25 points in 37 days to level stakes then you don't need a staking plan to 'maximise' profits. If you want to make more profit then just increase your level staking, which will obviously also increase your risk. Staking systems with laying can be dangerous.
GoldCoastinvestor
Joined: 28 Aug 10
Replies: 880 04 Jul 11 01:12
Your staking plan should be relative to your system strike rate, you don't give much away in the sense of % of succesfull bets.
If you have a very high rate of succesful bets an all up your profits for 3-4 bets would work well, then after a loser or 4 succesful bets drop back to starting stakes. This ensures your risk is still your starting stake but you get to increase profits by reinvesting your profits.
Remember this only works if you have a very high strike rate IE 80%+
Thanks all for the replies.
Goldcoastinventor,
Relating to strike rate, I may have up to 10 lays a day. The way I work the system is, if I'm fortunate enough to get 4 pts up on any given day I stop for the day. The most the system can win is 3.8 pts per day after comm. Obviously if I hit a winner early I carry on to try and get back in profit. If the first 4 go in my favour then I dont even bother about the rest. So has for strike rate mate, I aint a clue. I work away alot so dont get on here much but I can gladly say the system as been winning everyday this week so far.
Thanks again all and will update over the weekend.
Joined: 28 Aug 10
Replies: 880 04 Jul 11 01:12
Your staking plan should be relative to your system strike rate, you don't give much away in the sense of % of succesfull bets.
If you have a very high rate of succesful bets an all up your profits for 3-4 bets would work well, then after a loser or 4 succesful bets drop back to starting stakes. This ensures your risk is still your starting stake but you get to increase profits by reinvesting your profits.
Remember this only works if you have a very high strike rate IE 80%+
Thanks all for the replies.
Goldcoastinventor,
Relating to strike rate, I may have up to 10 lays a day. The way I work the system is, if I'm fortunate enough to get 4 pts up on any given day I stop for the day. The most the system can win is 3.8 pts per day after comm. Obviously if I hit a winner early I carry on to try and get back in profit. If the first 4 go in my favour then I dont even bother about the rest. So has for strike rate mate, I aint a clue. I work away alot so dont get on here much but I can gladly say the system as been winning everyday this week so far.
Thanks again all and will update over the weekend.
Using Maria's Staking Plan might suit you if you've got a half decent selection method. It's not the worst staking plan by far.
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