Wednesday, September 23, 2009

A few warnings

Statistically one can make the data fit the wanted outcome and end up fooling oneself, thats been a clear warning I have taken onboard from the advice given to me from various horse betting forums.

So anyone following this be warned this could very easily fall over, Im not yet totally convinced and I doubt I will be for quite a while.

A key thing I have found is discipline, I cant deviate from what I do and get sucked in to thinking I can spot a winner myself, I just dont have that knowledge yet.

I started this with a balance of $50 and 3 months on I have a current balance of $990.60 but I had a couple of lucky breaks along the way, I could quite easily end up having a run of bad luck and see that amount drop away.

So I have set myself a target, every time my balance goes over $1100 I take out $100 and pop it into a dedicated bank account. So far I have taken out 1 lot of $182.8 and another lot of $100.
My base bank balance is set at $1000 and Im betting using a base amount of $2 with the sequence 2,2,4,8,16,32,64 as my multiplier. If my balance drops below $700 I drop my base bet to $1.

I hope to keep a daily record of what Im doing with screen shots of my balance and some bets.

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