Ouch. This is my first week back in the UK after a 3 week holiday in Australia over Christmas and New Year. Turns out it was not just the poor GBP/AUD exchange rate that made it an expensive trip!
To be honest, I’m astounded it has taken this long to experience any real negative variance since September. Losing runs are part and parcel of any professional trading system. The key is to keep your head and my approach is designed to make it as easy as I can conceive to psychologically absorb such periods.
One of the greatest aspects of generating income in this way is its flexibility and portability. In that sense, it should make a great travel companion; however, Australia presented some unexpected challenges:
- Internet speeds – I do all my betting on my smartphone for speed and convenience and have a contract with Three which allows me to take my unlimited data package to 40+ countries at no extra charge. I was looking forward to being able to casually place my bets as usual; however, I found the 3G speed with Vodafone Australia to be so unbelievably slow as to actually be unusable. This was even worse when connected via VPN. Oddly, even connections over two different broadband lines were, while better, still extremely slow and frustrating.
- Extreme time difference – I missed so many bets due to being asleep. And plenty of winners in there too!
- Updating results and stakes – kids and staying with family and friends meant that, while I had plenty of available time, very little of it was ‘free’ to be able to sit down and calculate returns and revise stakes, especially given the painful internet speeds. This meant I did not reduce stakes when I should – had I done this, overall losses for the period would have been lower. This also accounts for the gap in weekly results.
Outside of this, just appalling performance from virtually all the tipping services I follow conspired to create the perfect storm for the month. Nowhere was this epitomized more than a new tennis tipster I began to follow this week and who lost the first 5 bets which I staked, all at odds of around even money – you have to laugh!
But, hey, it’s a marathon and not a sprint. Annualized yield is still in excess of 1,000%, we reduce stakes slightly, stick to the strategy and go again. Let’s see what this week holds!