£50K Challenge Update

It has been a long time since I posted an update on this site about my £50K Betfair challenge and that is because I have been focusing hard on it.

Now my manual trading was pretty terrible; you can all see that from my early videos. However, as the months have gone on I have been studying and reading as much as I can about Betfair horse race trading and I can confidently talk about it and I very much understand the principles in which I need to apply to make a successful trade.

However, I am a bit of a gambler at heart, and my heart ruled my head a lot, and this was something that was ruining my trading and being honest it was frustrating as hell, and I think it became a big problem and stopped me from trading properly.

I decided to take me out of the equation and start looking at a way of automating the process. Looking at bet angel automation was something that appealed to me, and it appealed a lot to me especially when the summer has come, and I would rather be out on my bike rather than sweating my nuts off in my office.

So the bot building began, and I created a ton of bots based off simple strategies, and they did ok, but they would always end up being losing bots when I pressure tested them. One of the bots I created I thought I was onto something and after 205 successful markets traded it would have one loss and wipe me out.

I created an “in play” bot that has not yet lost a trade and is showing signs that it will probably be a pretty good bot and based on previous markets. I can’t see it losing much if it does get a loss every now and again but I have set some pretty tight parameters, and yes the bot does not trade every race but with about eight successful traded markets a day is winning I will be scaling this up in time.

I am not sure how well my trades will get matched as I increase them and to be frank this does concern me but I am quite confident I will be able to make £200 a day from these bots and even if it is £50 a day profits I am quite happy with that.

Lets do some quick maths

£200 a day x 365 days in a year = £73,000 minus commissions and what not you are going to be looking at £60K a year

£50 a day x 365 days in a year = £18250 minus commissions and what not is around £17K a year

That is just a bit of maths to wet your appetite and once get these to be consistent then I suddenly have a system to play around with and some extra money to throw at more research and hopefully create some more bots.

Greyhound Markets

I have been manually trading the greyhound markets, and this is something that very much appeals to me as the racing starts at around 10 am and goes on through the day until about 10 pm. There is plenty of opportunities to make money, and I do ok out of it, but they are very volatile, and when I have a good couple of days I seem to go then and have a few bad ones, and so I am just not entirely consistent.

As time goes on, I have noticed patterns in the markets, and I am sure I will be able to steal some money from each market and from there we will go on and create systems to exploit that.

My Videos On Youtube

I really have not been publishing my videos on youtube anymore, and that is mainly because there are far too many haters out there and frankly I don’t want to help them and the whole point of me uploading videos of my Betfair trading was for others to see my struggles as a new trader.

There is a quite a lot of effort that goes into recording the trading videos and then editing them, so I don’t upload them now and spend the time that I use to spend editing I now spend it researching and getting better.

It is a shame that the haters have ruined it for the many people that tuned into my channel to watch my journey but I like to remove negativity from my life, and that was something that had to go. I don’t even watch the news or read a newspaper anymore for that very reason.

So that is where I am at

I will still upload the odd video as and when but it won’t be weekly, and I won’t be giving away too much about what my bots do, but I will leave hints and also talk about my journey as a Betfair horse racing trader.