TheSnapper

Start Bank: $198,00
Current Bank: $$356,48
Target Date for buying dream home: Dec.6, 2011
Projected Date for buying dream home: Oct.23, 2011

Due to the Betfair site problems, there were only 13 bets in 6 markets. This highlights 2 issues that we should all be aware of.

1. This is why I had to give up trading on Betfair. I used to trade the horses pre-race and I often did quite well compounding small banks into larger banks. But  there were at least 3 occasions when the server crashed, my computer crashed, or another time when I made a mistake and left a position open...and bang...bank wiped out. Despite what anyone tells you..trading is never 'risk-free'. I'm sure many traders discovered that yesterday! As a straight position taker now, I am not exposed to such situations.

2. The problem for me with the Betfair problems is that it limits how much I can bet everyday. I need to keep up a 20% daily stake/bank ratio in my model and this is going to be hard if I can only play 6 markets and 13 bets, like yesterday. A gambler has only two options to increase profits once he has an edge: either increase the stake level up to the Kelly limit or increase the number of bets.

Anyway, despite the problems it was an unusually profitable day. I made $23,84 on a stake of $45,11, which is a near-personal record 52,85% profit on the day!

The profit % has risen and currently stands at 13,74%. This is my calculation of my current edge over the market, based on profit/stake.

I'm pleased to see the new followers, I wonder how many there will be by the end of this blog! I thank you all for following and welcome your comments.