The past few weeks have been very topsy turvy in terms of performance. For a while it almost seemed like May would end up in a loss, and I was at a standstill. However, I did my utmost to make sure I didn't do any stupid things and end up losing my bank. I genuinely feel it is only by sticking to my trading plan and being disciplined, that I have been able to generate a small profit for May. So far, I have made a profit of £545 since I began, which I am quite happy about.
At the moment, I feel like a one trick pony by doing the same type of trading day in day out! I have been looking into additional strategies which I can use to supplement my trading, and hopefully gain an additional income stream. I have identified 3 ideas which I am currently looking into. All 3 are more of a traditional betting strategy.
Idea 1 is based on dutching certain horses in certain races, where it seems like the market is underestimating the chance of certain horses to win, thereby getting value if my calculations are correct.
Idea 2 is based on inplay betting. However, I still need to do some more research into this as it looks good on paper but I have a feeling that there will be issues regarding getting bets matched at certain prices due to the volatile markets.
idea 3 is based on betting on certain sports markets with traditional bookmakers. Even though it seems slightly profitable on paper, it seems very time consuming and would require monitoring prices up to kick off time. My concern is that I simply wouldn't be able to do justice it to it, and back all the qualifiers.
Hopefully, within the next week I should have at least one of these ideas live and am hoping to increase my profits slightly with small stakes.
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