Ten pound trader – Day one
After a great September I had considered posting up the P&L for last month and also the last three months in total as they are absolute stonkers. But as I went to prepare the image for upload I paused for thought.
I guess they show what is possible, but having been around for so long you would suspect that I should be able to pull in something special, especially with bigger amounts of capital to hand. So I had another idea, what would happen if I took my bank right back to something that somebody starting out would have? I think this may be more interesting to a lot of blog followers?
So, today I funded a new account with £100 and started trading at £10 stake sizes. Of course, I can’t forgo my normal trading so Mr Ten Pound trader is going to have to run alongside my existing activity. It’s going to be quite a task to manage both so I am expecting the odd mess up and bad day but then, if I was starting out from new, that would probably be a similar story.
I know I am very experienced and don’t want to set false expectations, but I do believe that with the right approach it’s perfectly possible to squeeze something out of the market. I also believe that it’s definitely easier to use smaller stakes than big ones. With big stakes you have to gamble on getting filled, that’s not a problem using tiny stakes.
Each day, in line with sensible money management strategies, I will increment or decrement my stake by the prior days profit (or loss!). I’ll take Mr Ten Pound trader up to a notional value and then stop. I could go on forever but I just want to show that even from small amounts your bank can grow quite quickly. When finished I’m going to donate the profits to the injured jockey’s fund.
It could be a miserable failure and prove impossible to trade two accounts at once, but here goes anyway!
Category: Using Bet Angel
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