Friday, 8 July 2011

This Should Be Fun! My £1 A Day Patient Staking Method Experiment!!

For a long time now I have been toying with the idea of a staking method that for just a small initial outlay could provide huge long term profits.

I know that if there is not value in my selections it will not matter what staking method I use, the outcome will be the same; which is that I will lose money. However I do believe that with just a small edge it should be possible to maximise returns using an appropriate method of staking.

So what are the characteristics that I wanted to build into my patient  staking method?

  "Lose a little.. Win a little and occasionally win BIG"

  • I will be able to start with the smallest of banks but still have the opportunity to make extremely large profits (over time) by taking advantage of the power of compounding.

  • The staking method should encourage patience and discipline.

I believe that I have designed just such a staking method and I am going to document my progress with it here on my blog as a way of helping to keep my discipline / focus and also to provide food for thought for you the reader.

To add a little mystery I am not going to divulge all of the details of the staking method, but I will post a regular profit and loss report. 

There are a few basic points about the staking method, which are as follows:

  • I will start with a bank of just £1 and then add just £1 a day to the bank. 

  • I aim to place one bet/trade  per day, however there will be days without any bets / trades and there will be very rare occasions where I place two bets/trades.

  • The staking does have an element of positive progression to it, in that there are occasions where I will increase my bets after winning bets.

  • There is no element of negative progression built in, so I will never increase my bets after a losing bet (as I believe that to do so is the road to ruin).

I hope that you have enjoyed this post

Stay Patient

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