Let's Go

Okay. Let's Go. I have reloaded my betfair account and I now have a bank of £1,000 to use until I go bust.

My aim is to make money trading mostly horse racing about 15 minutes before the start on betfair. I will also trade other sports when I spot a good opportunity

My Goals are a second income hopefully £500 - £2k a month. Also to use what I learn here in terms of strategy as well as discipline to trade shares. I am setting no time limits on this so we'll see how we go. My Motivation is the extra income to start with and long term to be able to quit the 9-5 life and have the freedom to do what I want. The obstacles I face will be a lot of demands on my time. First & foremost work as I am a professional in the city and often work up to 10 hours a day. At work I trade using Logmein to log into my home computer but I still have to monitor as I use Talk Talk broadband which crashes every two hours.
I have a wife and kids so also need to spend quality time with them of course

I link Gruss's Betting Assistant to excel and this automatically places bets via VBA and the BA COM Interface. If you don't understand that then no need to worry. I will explain later. The key is that all my bets are automated as this is faster and also I just do not trust my discipline or execution.

I also use standard technical analysis indicators like the MACD, RSI, OBV as well as WOM to get in and out of trades. Again will say more about this later

That's quite enough to start with. Only thing to mention now is that I have completely redesigned my spreadsheet to use VBA so will be testing throughout the week and full trading will start on Saturday. All my posts until then will be about automating the spreadsheet

The Skinny