It's been a couple of weeks since my last pre-race trade update, really due to the fact I've been focusing heavily on my Dutching, and gearing up for the introduction of Dutch 4 Multiple & Single to the subscription service.
The goal of this challenge, is to show how pre-race trading can take a small amount of money and create a much larger amount, using the incremental percentage of bank per day trade approach.
I've no idea yet how long this is going to take to reach the £1000 target, as I have to fit it in around everything else, which is the only downside to pre-race trading compared to Dutching, I do need to be at my desk all afternoon focusing solely on the trading. I say downside though, but I actually love it, and if I didn't have anything else to do I'd be doing this most afternoons.
Realistically, if I can get a few good weeks under my belt up to Christmas, I should be on target for the end of this year/early next, or at least coming close.
Since the last post I've managed four days exchange trading activity, here are the results:
Start Bank £100.00
Prev Balance £127.16
9. 1st Nov - £3.31 10. 2nd Nov - £0.84 11. 4th Nov - £1.75 12. 6th Nov - £14.90 --------- £20.80
New Total: £147.96
The 1st 2nd & 4th November were experimental days, hence the lower returns, as I wanted to try a new way to identify pre-race trades. It works, and I found it easier, albeit with lower returns.
I'll be exploring this further as it involves Dutching specific horses at a percentage of book, which overall produced a percentage trade profit. Only small margins per trade using the current stakes, but it was a lot quicker to locate the horses, and felt like it had lower risk due to spreading the liability more.
The 6th Nov I stuck to my usual method, and had a very good day. Everything fell in to place nicely, with virtually no drama. Just the final trade did drift quite a bit pre-race, but I knew the price was meant to be a lot lower so I stuck to my guns, getting matched and green comfortably before the race began.
The current percentage trade amount is now £7.40. I'm looking to get a few days pre-race trading this week, and would love to reach the 100% growth mark by Sunday 12th November.