The frustration continues, just having to continue to tread water in the grand scheme of things. This week was down about £300. Not much more to say, really…need to keep battling away!
Not enough of a gain this week to satisfy either target line… but, profit is profit, as they say. On the plus side, this week has felt good – just chipping away a little bit each day, with very minimal time investment nor emotional engagement on my part, which is exactly what I am looking to achieve!
Still, it would be quite nice to have a stonkingly good week, like we had back in November, and it feels well overdue. Let’s see what Week 23 has in store!
Not dissimilar to most major economies, it would be a premature to call this a recovery! Still, it is a relief to post a positive return for the week even if it is still not quite on the required run rate. I’ve really pared it back this week as part of my refocusing. It may have started to have pay off. The downside is that my throughput has dropped off substantially, which may well be the reason that absolute returns this week have been lower than I need them to be.
Let’s build from here…
Still struggling to get out of this rut. I’ve started to do a detailed review of the tipsters I’m following and decided I need to rationalise and refocus. In particular, I had started to get an overexposure to folk who are long term profitable, but have lower win rates (and higher average odds). I’m going to rationalise a number of these because as recent performance shows, when negative variance hits, it’s all that more worse with these sorts of strategies – I’d sooner have lower overall returns and a smoother yield curve to be honest.
I have also added a 10% line to the chart which I would see as the minimum which should be achievable if I continue follow my methodology with diligence and discipline. Unfortunately, the £120k target may now be out of sight. As I’ve said on other posts, it was a hugely ambitious target that I did not expect to materialise in the real world. I hope I can navigate between the two lines and let’s see where we end up – as you can see from the chart, the difference between returns after 12 months – given only a 5% variance – is stark.
Still, I’m not going to turn my nose up at £29k in annual tax free income for less than 30 mins ‘work’ per day. Kudos to you if you disagree – you have no need of a second income!
Starting to get a little bit bored of this now! Total capital has just inched below £6k. In the medium term, I’ve got no doubt that this will turn around, but another week of this and I think we can wave goodbye to the (somewhat audacious) £120k target.
Since having had my main bookmaker accounts limited for winning too much, it’s certainly been more difficult to make progress. I’m still trying to optimise the portfolio of tipping services that I use in order to get the best returns from the markets I am able to speculate on; however, I think I may need to accept a permanently lower average ROI than the 15% that the £120k is based on.
Next week, I’ll add a 10% guideline to the chart for comparative purposes.
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!
Still going in the right direction, but not quite at the required run rate again this week. A poor start to the week and a set of abysmal results on Sunday – including Liverpool giving away a 1-3 lead to go down 4-3.
A mini target to break the £10k barrier before the end of 2016 – over a month ahead of target – looks to be within striking distance. Let’s see if it can be done!