The first post

A few month ago I stumbled on something I was up until then unfamiliar with; Betfair. Of course I knew that is was possible to punt through the internet, but that it was possible to also bet for an outcome not to happen was new to me.

So I put up €500 and already the first day I lost 400 of them, on a football match; I layed the correct score market any unquoted, but the final score was 4-0 so only 100 was left in my account.

The I started to trade on horses, with changing success and I was never able to get over €150 and jo-jo'ed up and down the 100-150, until I messed up completely last Thursday, thought I needed to close a trade, which I didn't open in the first place so I was left with €25. These final 25 I then lost in a desperate attempt to chase my losses and I layed a horse 10/1 which of course came in first.

So now that I lost my tuition fee it is time to start all over with a bank of €200 and strict bankroll management. I started this blog, just to keep me on track and to reflect on the trades I made.

Here are the rules I stick to:

1. Total exposure may never exceed 10% of the roll
2. My target will be to make a profit of 30% a month, which is approx. 1% a day
3. Keep complete track of all the trades made, and analyze them to learn
4. Post in this blog at least once a week

Having these rules I am sure I am going to succeed and build a bank that is worthwhile!