Wednesday 10 March 2010

Diversification

P&L since last update £7.74

Trading Races
7-Mar £7.14
8-Mar £4.44
9-Mar £1.66
10-Mar -£16.50

Casino bonus £15
Laying -£4

I am trialling a laying system to small stakes and this has totally captivated me. I haven't worked on my Bot at all over the last 4 days and need to get this out of my system soon.

I made the £15 playing blackjack on coral using their monthly reload bonus

As my activities start to increase I need to build a better tracking spreadsheet

After much thought and although it doesn't make sense, I have decided to implement my daily stop loss again. It will be 6x trade stake (amount risked per trade) and target will be 10x trade stake. Once I hit 4x trade stake loss I will reduce stakes by 50%. If I hit another 4 x trade stake loss at new stake then I will reduce further to 10%. Will do the same with targets as well i.e if I hit 7x will also reduce stakes by 50%. If I hit another 7x will reduce to 10%. Right now will do this manually but automating this is one of the many upgrades planned for my Bot

This has been prompted by today's loss of -£16.50. I have been on £1 loss per bet for the last two weeks which makes today's daily loss of £16.50 truly shocking. If I was on £5 stakes that would have been over £85. So even though in the long term this doesn't make sense, with a limited bank it is the only way to go.

I just need to drag myself from betting forums and building a laying system to upgrade my bot and move on to bigger stakes

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