I am lucky to have found the Secret Betting Club and post this blog there for comments and expected worship, and grand accolades.
I didn't get any of those but a few carefully worded comments from some big names (in the forum world) saying that I was basically insane because I was many times leveraged.
They were all wrong in my eyes, I am pro gambler (for 8 weeks, I know it all, dam you), then I lost £2k over the weekend. Very luckily it was bookies money, but that is actually irrelevant I still lost £2k. But on the flip side if I was not so leveraged I probably would not have won the £2k.
However, emotionally I simply cannot take that sort of swing.
I spent most of Monday night and Tuesday actually calculating for 'real' what my bank is (money you can live with losing). Although, even now I'd be lying if I said i'd not be pulling my hair out if I did.
Then;
I split that bank by how many services I have.
Too many
as the cost of some services removes the viability to run with a <£5k bank/ service.
- I removed any services that cost more than £35/month
- I favored services that I can run with a small bank (those charging circa. £20/month with a decent ROC).
- I emailed those that were left and offered a bank transfer payment (no paypal fees) for a 12 month subscription (only UK based ones) trying to get the lowest possible rate to further lower the necessary bank.
I was left with, and will continue with.
- The Market Examiner
- 50/50
- Sportyy
- WRT
- WRS
- CD Systems (Bargain & Probet)
- ZH Banker
- Summer of football
- Probandit
- On The Oche
Banks range from £1000-£2500
I am now leveraged (as i could not totally escape it) by 1.35
In addition to this. I am using an ISA pot solely as a saving plan with Equine Investments. Not for a monthly income but as a saving plan. It gets 2.2% in the bank, so as long as Lawrence can beat that + fees I'll be happy.
It will not generate enough monthly income unless I am very fortunate but this project is now long term viable.
It also frees up a mass of time and stress.
I'll see how the returns develop but my plan is to take a part time afternoon/ evening job if required. I'll make that decision in Feb/ March'13.
You see I do listen, but it takes a bit of time.
Comments/ words of wisdom/ part time highly paid jobs offers, all appreciated:-)
Hello mate
ReplyDeleteLooks like you've made some really good desicions here.
Really enjoying reading your blog and wish you every luck.
Am curently tying to prevent going back to work by trading tennis & football. Not great so far but feel I'm on the right track. Can't wait for the tennis season to re start.
Once again Good luck
Cheers
Mark