I know it has been a long long time since my last blog post, but rest assured (if anyone is actually bothered), I am still here.
There has been a lot of things going on in the world of football gambler lately, not least the arrival of a new baby son, so as you can imagine a lot of my spare time has been taken up lately.
On top of all that, I have been dedicating a lot of my time to finding ways of building myself a decent sized Betting Bank. Due to the differing amount of ways I have found to create risk free money to achieve this aim, I have decided to create a new blog, Betfree247, which is dedicated to making risk free money. So all in all, this has meant I haven’t had too much chance to update this blog.
I have also spent a few weeks evaluating where my trading has been going wrong and have had a good think about what direction I want my trading to go in. I also have done a bit of thinking about my discipline and whether it is as bad as I think it is, or not? As the case maybe.
I have stopped pissing around with different trading methods and am concentrating mainly on trading the Correct Score markets now. Form time to time I do back or lay teams on instinct, or do overs in the goals markets, but I am mainly trying to concentrate on the Correct Scores, paying particular attention to price movements pre kick off.
I used to trade Correct Scores a lot when I came back from a self imposed gambling abstention and started using Betfair again about two and a half years back.
When I restarted in late 2009 I was mainly trading Correct Scores, I restarted with just a tenner, but on numerous occasions I had my account up over £300. What generally happened was whenever I got to over a hundred pounds in my account, I would become more aggressive with my trading, I would go for it more and take more risks.
I could then go on a winning streak and get up to £200 to £300, before losing it all again and being down at £80 – £90 before I knew it.
Whenever I dropped below £100 though, a different more cautious mentality kicked in. I would be far more measured and disciplined with my bet selections and amounts, I needed to get back above that £100 mark, that seemed to be my safety net. This was crucial and I would ensure that I did do it.
I’ve eventually realised (give that man a round of applause) that this is the mentality that I need to apply all the time, not just when I’m in a spot of bother. Along with a good staking plan, surely this can work?
In the past I had no staking plan, for months I thought my previous methods failed due to bad match selection and poor discipline. I have now realised that yes I did have poor discipline, but if I could turn £10 into £300 something must have worked, so maybe the reason why I failed was more down to no real staking plan and obviously bad discipline.
The bad discipline wasn’t just limited to bad bet selections. It has since escalated to me throwing my whole bank in after a losing streak. By this I mean, that if I was on a losing streak and was 40%-50% of my betting bank down one weekend, I would chuck the remainder of my betting bank at a bet (usually a badly chosen bet) in a desperate attempt to win all my losses back in one hit.
Sometimes this would work, but usually it ended in disaster and meant me having to replenish my account time and time again.
I seem to have got over this now, it is months since I last done this. I hope the long term philosophy I have been drilling into myself lately will help prevent me from doing this again moving forward.
I am now giving my methods another go, yes, I am to a certain extent experimenting, but I am going to stick with these methods now and along with my staking plan – and hopefully good discipline – give it a real crack.
For too long now I would give something a go for a weekend, chuck a load of money at it, fail, and give up. I read a tweet from a professional gambler a few weeks back that said that most methods work if they are persisted with and perfected, the problem is that most gamblers/traders don’t persist with them after a couple of losses.
Like I wrote earlier, I have had a while to take a step back and think about things. I am now refreshed and have already embarked on my new staking plan as off 5th March 2012, the date my son was born.
This is the direction I am going in now, and I am determined to stick to it.