Betting bank takes a hit

So lets up date you all on whats happened so far

First week +1.37

Second Week -1.03

Our account took a huge hit over the last few days as dissaponting as it is we must not panic.

So whats gone wrong the first part of our losses quite simply are down to our place selections just not quite cutting the mustard.

The second one was my own judgement I made two bad calls on trading the football.

The only plus through out this is that my laying favourite strategy has been flying consitently making profits and therefore I've been taking more than the orignal 10p a day aim.

Over the last few days it has comfortably pulled 50p+ to lays of 12p infact most days would hit the £1 mark but we still need to play it safe.

So where do we go from here well our bank has seen a % decrease so if we  are to make up those losses we'll need a longer term recovery stratergy.

I'm giving myself 10 days to get back on track and we'll reaccess again once we get there.

We'll continue with the place backing despite the losses we've incurred the profitably days will out weigh the negative ones.

As I mentioned before the laying favs stratergy is flying so we'll continue to use this with the 50p a day target for now.

I have also added football trading strategys to try and top up the bank despite two bad outcomes over time this should be a relatively low risk option that will be profitable.

Below is a break down of our daily profit or loss.

 14 +.33
15 +.07
16 0
17 +.29
18 -1.19
19 +.56
20 +.49
21 -1.15
22 +.19
23 +.07
24 -3.25
25 -1.10
26 +1.98
27 +.55

Off and Running

So we kicked off our quest on the 10th January and to be honest it was a poor start .

Our loss for the day was 19p ok not too much to worry about but in the scheme of things that should be our daily target. The main reason was the staking on the place lays in the end I adopted a more conservative approach as I didn't want to risk too much of the bank. As a result I have already decided to alter my strategy and its only day 1.

From now on were concentrating on backing horses on the place market and laying favourites in the win market no higher than 4.

Day 2 - Went off with out a hitch 2 winning place back bets plus a place lay bet all succesful straight away so we closed out the day with a profit 35p. 19p was the target so the extra has allowed us to claw back some of first day losses.

Day 3 - Was a very good day another 100% striker rate this time two winning back place bets, one lay place bet and a lay win bet. 56p profit means we've pulled back our losses and some.

Day 4 - 25p achieved with only one losing lay followed by a succesful recover next race. I was happy to take that now were in a good position.

So four days in and so far a good start.

All our daily targets were 19p and we've averaged 24p a day so far.
Our bank now stands at £13.33 and our daily target is now upto 20p

Inserted is a screen shot of the profit and loss from the account

Nuts and Bolts

Ok so lets begin...

How am I going to create the money? How can I make my bank grow consistently?

Well were going to aim to use compound staking to really try and help grow the bank.

Albert Einstein, once called compounding "the greatest mathematical discovery of all time"

If you’re not familiar with compounding quite simply were aiming to increase the bank by a % each time.

So basically the aim is to try and increase my account 1.5% over 2 years this should actually get us to £811,371.87.

Not quite a million but I will try to over shoot the daily target to try and compensate mainly for those losing days.

After each month we'll probably asses how were doing and maybe adapt the targets.

What bets are we placing?

To start with I'm aiming to use 2 strategies; one is to lay favourites in horse races, a very low risk loss recovery staking plan. For those that are not aware staking can be very dangerous hence I will be using very low stakes.
Another will be backing horses to place again looking to stake it.

Right so here goes

First days target is to increase £12.36 by 19p