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Bankroll Management
- Thread starter TomDwan
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I'm a terrible bankroll manager. There, I said it.
I'm currently using an excel spreadsheet into which I put all the variables for each of my bets, and it keeps a running profit/loss figure along with a P/L % and a strike rate. Each time I complete an entry, it's set to give me a maximum bet amount for my next bet, which is currently set at 10% of my bankroll. Once my bankroll gets bigger, I'm planning on reducing that to 5% and then smaller again.
The point is, I'm training myself to focus on my percentage P/L and my strike rate, not the amount I'm betting or the amount I'm winning. This, hopefully, will mean that I put as much thought/effort/research into betting smaller amounts as I do when I'm betting bigger, by simply making the amounts irrelevant. The spreadsheet actually hides my current bankroll amount from me, but it's obviously seriously flawed because anyone can easily multiply my maximum bet by 10. Ah well, it's a work in progress.
I'll let you know if it works.
I'm currently using an excel spreadsheet into which I put all the variables for each of my bets, and it keeps a running profit/loss figure along with a P/L % and a strike rate. Each time I complete an entry, it's set to give me a maximum bet amount for my next bet, which is currently set at 10% of my bankroll. Once my bankroll gets bigger, I'm planning on reducing that to 5% and then smaller again.
The point is, I'm training myself to focus on my percentage P/L and my strike rate, not the amount I'm betting or the amount I'm winning. This, hopefully, will mean that I put as much thought/effort/research into betting smaller amounts as I do when I'm betting bigger, by simply making the amounts irrelevant. The spreadsheet actually hides my current bankroll amount from me, but it's obviously seriously flawed because anyone can easily multiply my maximum bet by 10. Ah well, it's a work in progress.
I'll let you know if it works.
bluegumby
Team Captain
usually with horses i will bet a certain % of bankroll depending on day to i hit my target for that day(depends on fields/track/confidence) then either with my target i will take a quaddie or let it sit depending on facts above.
need to have goals set so your not just chasing big bucks. my goal each day is usually $100 so i can take a $81 quaddie and still make profit for that day.
sport is allocated per sport/market.
smaller % for exotics(first goal, most goals)
small-med for multis
med-large for H2H/Line.
Also have a target overall profit/loss so when i hit it that week is over.
Betting Week is Friday to Thursday.
need to have goals set so your not just chasing big bucks. my goal each day is usually $100 so i can take a $81 quaddie and still make profit for that day.
sport is allocated per sport/market.
smaller % for exotics(first goal, most goals)
small-med for multis
med-large for H2H/Line.
Also have a target overall profit/loss so when i hit it that week is over.
Betting Week is Friday to Thursday.