Changes Again! Bank On It!!


Whilst on my summer holiday I had plenty of time to think about my blog and the direction that I would like to take with it. I know it’s fairly popular and some people will not appreciate any changes made, but I believe that I should stick to my core mission for the blog of adding value for my readers and myself in our quest to become more professional in the art of sports speculation.

During the holiday I was catching up with some reading on the excellent Green All Over blog when I found this great post Reality Check where Cassini, the blogs author, discussed the near obsession that John O’Dwyer of the  BETFAIR PROFIT & LOSS blog appears to have with the need to have a large bank to be profitable at trading on Betfair.

The post got me really thinking and reminded me of this post that I had written recently about my need to alter the bank size for my Portfolio Lite: I’m Not Happy; My Portfolio Lite Is Still Not 'Lite' Enough!

Well Cassini’s post help me to arrive at a decision, which is to start again from scratch with the Portfolio Lite with a drastically reduced bank size of £500. I will of course use the same set of tipsters to form my portfolio but with a different staking plan.

I will also set up a separate trading account that I will report the results for that will start with an initial bank of just £100.

Finally I will also add a new patient staking method that I will start with a bank of £1 (yes that’s right, I said £1) but will then add just £1 a day to that bank and seeing how profitable my patient staking method can become.


I will start all of the new initiatives in the early part of July and will use the days between now and then to add more detail about the changes that will be taking place on the blog.

I hope that you have enjoyed this post

Stay Patient
Mark

5 comments:

  1. Mark,

    I believe that change is all a part of the profile of a winning investor.If one is profit oriented change is a neccessity for success. You have already proven your discipline and patience is strong..that's the most difficult aspects
    of a successful wagering campaign.

    Let your instincts be your guide and stick to your guts and refine all of the points in your operation..success will be the result. I have been refining my operation after a few disasters in judgement and I am on solid ground following my mantra WHEN I LOSE, LOSE A LITTLE, WHEN I WIN, WIN A LITTLE BUT SOMETIMES WIN BIG.

    keep positive and I really enjoy your blog.

    Jake

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  2. Thanks for your words of encouragement Jake.

    Yours is a great mantra and I think you will see that it should be perfectly apt for the new patient staking method that I mentioned in the post above.

    Thanks again
    Mark

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  3. Hi Mark

    The key part of Cassini's post is that betting without an edge is the issue.

    A large bank won't help if you don't have one, but it will make you a lot more money if you do.

    All the best,

    Mark

    P.S. Keep re-investing as much of your profits as you can afford to make your bank larger as quickly as possible.

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  4. Hi Mark (Iverson)

    Thanks for the advice.

    I suppose having an edge, the right mind set and using correct money management are the three vital components to ensure long-term profitability.

    I do intend to re-invest any profits that I make.

    Once again thanks, it's always great to get advice from someone who has actually been there and done that, if you know what I mean

    Mark

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  5. Hi Mark

    Never be afraid of change. It's all part of the learning curve....

    Regards

    LOM

    ReplyDelete

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