Right, so to start things off I have my rules for general trading. My starting bank is going to be £300 and my profit target is going to be £50 profit per week. 10% of which I will add to my betting bank, with the remaining 90% being withdrawn. £50 will be my starting target and if I am successful 4 weeks in a row, I will then increase my target by £10. If I continually make consistent profits I might look into raising my target to larger amounts, but let's not get ahead of ourselves too quickly now! The key to this is patience and discipline, and both are going to be extremely difficult to control. In an attempt to curb any temptations or bad habits, I have written out a number of guidelines to help me through. The idea is that being relatively young (20) time is on my side and if I can kick the bad habits short term I can profit big time long term. So here goes:
When trading generally (i.e. not using systems)...
- Champions League betting is prohibited due to volatility, lack of stats and form, and vast differences between domestic and European form. Domestic cups are also excluded.
- As stakes will be low, do not be tempted to bet on stupid things, or attempt to chase losses.
- Maximum loss per day is £50, if this is reached betting for the day is over. Also means max bet is £50.
- A list of teams to stay away from will be compiled over time. Already on list: Arsenal, Wigan, Swansea, Norwich, QPR, Inter Milan, Barcelona and Real Madrid.
- With weekly target at £50, the daily target for weekdays is £10 and £25 on Sat/Sun. If this amount is reached betting for that day should end. This is to prevent getting carried away.
- If any of these rules are broken, even if it results in a winning trade, I am to take a day off from betting completely. It is important to be extremely strict.
I will look to make the targets by using a number of trading methods. I will be using my own methods, along with general betting, as well as a number of purchased systems. I will continue my review of the ASP system, and hopefully will be able to give it a proper go this time. In addition to this I will be reviewing another system on an external site, most likely on laytheodds.com. I have just registered to be a reviewer and they are setting me up a system as we speak, so when it is in motion over there I will provide links to my report. For those of you who prefer standard straightforward tipping, I will be providing a number of tips each week also on an external site called bettingexpert.com. Due to the stipulations in the terms and connies I am *annoyingly* not allowed to replicate my tips on my blog, but, again, I will provide a link to my tips each week. You can view my profile here: http://www.bettingexpert.com/users/Betnineteen I have been tipping for a short while and started poorly but I am now back in form. As a side note, I highly recommend this site to anyone involved in tipping. It adds a bit of interest to be in monthly competitions against other tipsters, and you can win prizes if you are any good. It also forces you to have a lot of basis and analysis for your bets as there is a minimum limit of 100 words. (Though to be fair I think that anyone can make any bet sound appealing by manipulating the right statistics, but that is another issue!)
Lastly, I have purchased the popular service Bonus Bagging, something which I have read an awful lot of good things about. I will keep you updated on how this goes also, as well as producing daily and weekly P+Ls and trying to update you with as many bets as I can handle. Some days you might have to excuse me as I may have work on meaning I cannot update, but I shall endeavour to be as regular as possible. I may also add Total Football Trading to my portfolio at some point, as I have heard it covers pre-match betting, something I am very interested in, but I will see how this lot goes before I jump into that.
Furthermore, I will be attempting to operate in a number of long term markets over the season, primarily the Premier League Winners market. The league is such a roller coaster and odds of United at 1.8 to win the league are preposterous for this time of year. My aim is to have United, Chelsea and City in green of around £1000 by the end of the season. Currently I am at -£96 United, +£89 City, +153 Chelsea, +£64 Arsenal, -£32 everyone else. The price of 1.26 on Bayern Munich in the Bundesliga also looks outrageous. Admittedly they look a class ahead at this moment in time, but I cannot see how they will not hit a patch of bad form. They did draw 0-0 at the weekend... who knows.
Anyway though, I think that may well be everything for now. I will be doing more detailed reviews of Bonus Bagging and the review I get for laytheodds in the future, but this has just been an intro to my plans. Not sure if I will be trading much over the next few days due to the volatility in the international market with many teams already qualified. I will be beginning to use Bonus Bagging though so I will keep you updated.
Til then though, good luck with anything you're up to. And good luck me too.