This is a challenge I will relish, and will aim to get this initial £100 investment up to £1000 and even higher, in the shortest amount of time possible.
I'll be solely using my pre-race trading strategy for this challenge, and applying a percentage of total invested balance staking plan approach.
The plan is to use 5% of investment per trade, so I could effectively have 20 active trades at once, or just a few. Although, given the nature of pre-race trading I'll adapting this to fit whatever races I'm getting involved in, given the varying degree's of quality on offer each day.
One misconception about pre-race trading, or any trading for that matter, is that you can adopt a linear approach. This simply is not the case, each scenario and race needs to be judged on its own set of circumstances. Which means, I'll have some races when I use less than 5% per trade, and other races when I go all in.
I'll be publishing a table of results weekly, which will be accessible from the results section, posting screenshots throughout the week on the blog of my activity, and social media. So, you can track this progress in a variety of places.
Let's get cracking.
Today I traded five races pre-race using £5 per trade amounts, and deducting Betfair's 5% commission over the five races, made a princely sum of £6.88.
Which in a nutshell means, on day one I grew my balance by approximately 6.9%, which isn't so bad when you look at it like this, and like all plans to grow your balance from a small figure, we have to start somewhere.
Tomorrow my amount per trade will increase to £5.35, following the 5% of balance approach, but of course taking in to account the actual racing on offer.
Here's a snapshot of the races I traded, amount I greened up for, and time pre-race I was able to take my profit. Given the strategy I use, I got matched for only a small amount of my trades hovering in the market, but enough to show an encouraging trend.
With the horses I traded, time entering the market, and the fact it's midweek, a total invested amount between £1000 and £5000 would be around the max I'd use, and from previous screen shots posted on social media, I've only been using £500.00 either per trade maximum, or broken down in to £50 entries.
So, my percentages may change as the balance grows, but for now this is the starting point of this highly enjoyable, and profitable challenge.