The birth of a strategy
I’m always on the lookout for something new, preferably complimentary, to what I already do. But the path to a new strategies always starts with low expectations and its often a bumpy path. I think it’s probably the same for people starting out. In fact the first part, low expectations, is probably essential.
I recently headed off again down the path of blind alleys but on this occasion the blind alley turned out to be a new path and the results are shown below. The reason for putting this up is to give you some encouragement to try something new, but also to be warn you about how you do it.
The top image is the ‘nice’ one. When trying out this strategy I went in low with, £10, then £20 stakes and you can see by the end of Feb it had produced £250 in profits. The second graph tells the ‘true’ story however and the fate that often befalls new strategies or starters in a market.
The second graph plots the day to day totals. You can see it got off to a good start so I raised stakes and immediately ran into trouble. In hindsight I should have kept stakes at the same level to see if it was luck that was producing the results or some real underlying reason. In short, I got ahead of myself. Week two was a mare as you can see and it forced my hand. I chopped and changed my original strategy, a typically stupid error. As I exited the week, I went back to square one and started again and the market responded by giving me a clean bill of health going forward. With that decided, I could again increase stakes gradually until I find the tolerable staking limit for this strategy. I knew all this before, but for some reason I got carried away when I got off to a good start. It was a useful reminder though, which is why I am posting it up for everybody to see.
The summary is: –
If you try something, give it time to work through. Second, don’t raise stakes too quickly if you get off to a good start, it could be luck. Third, while it may take some time, always make sure you increase your stakes, even slowly. This will allow you to eventually reach bigger numbers in a safe and controlled manner, without the emotional baggage that comes with it!
Category: Using Bet Angel
