Foolish, foolish me

Sorry to say I slipped into the slippery slope of trying to do what I refer to as a "quick trade" i.e. bet a large proportion of your bank on something with the intention of trading off nearly straight away. The typical example of this would be to Back Under X.Xgoals and then lay off as the price drops one or two ticks. But I fell victim of just this tactic in a Serie A game, I won't go into further details but fair to say I blew a fair chunk of my Betfair funds by doing this.

September has been absolutely terrible and I'll post an update at the end of the month so everyone can see the damage with their own eyes. I feel like such an idiot for continuing to do stupid things like this, betting more than say 2-3% of your bank on a regular basis is only going to end in tears. Think part of it as got to me being bored over the summer months, ironically enough Sunday night was my last night of the holiday and I was back at University today. I've had to reduce the stakes in my laying system which is my main use for my Betfair account. I've made a deal with myself that if I ever try and go trading again on Betfair I will immediately remove all money from my account and close it leaving just my bookmakers accounts. My Betfair P/L is terrible especially compared with my bookmakers P/L which is actually quite good. Shame I'm such a sucker for in-play betting, another £800 loss is sizeable damage. My plans to go "full-time" next year look to be unlikely now. Which is a real shame because I firmly believe I have a good number of horse racing system between March and August which could spring myself profit given the right amount of investment. My job now for the remainder of the year is to try and raise some funds for my horse racing system plans next year.

Not a huge Green Day fan but I do like this song and I feel it's quite fitting after what has happened so far this month: