Ten pound trader – First week
I now realise I have two mistakes in the last week. First, last night I made a classic error in racking up charges, quite easy when trying to trade on two accounts. Second, over the last week my stake is rising too fast in line with my bank. Several Bet Angel users had spotted this already, but it only really sunk in for me when I kept getting ‘account exposure’ errors trading at higher odds! Ho hum, we are all human. I concede to those that wrote in, that it was an error on my behalf.
In my day to day activity there is effectively no upper limit on my liability or exposure so I rarely come across this problem. But by working with lower values, this is going obviously going to be more of an issue. The solution is quite simple, you can start trading with liability stakes or you increase your stakes inline with your bank, which is the most sensible route. If I don’t increase stakes inline with my bank size I will find myself trading at £100 stakes with a £200 bank, which isn’t going to work.
Over the week TPT managed to go from £100 to £120 (excluding charges), which is a 20% gain. But in hindsight, which is always a wonderful thing, it would seem to make sense to start again. I am going to reset the account to £100, but this time increase stakes by the % gain in bank size and represent future gains as a % on bank rather than on stake. Compounding will be slower but I won’t have the issues as described above.
Therefore, Ten pound trader mark two will start up today at £100, I think doing weekly update may be more interesting that daily also? I am considering a mark three as well, but it will take some time to set up, so that can come later.
Category: Using Bet Angel
