Monday, 20 September 2010

Missing in Action

Best laid plans........

So August was excellent, as my P&L headed upward and a calm (and profitable) betting routine took hold. The onset of the footy season could only improve matters. Well, theoretically.

The day after posting my last blog, I came across a couple of decent work opportunities. One of these involves Saturday work, but at an income level I can't afford to refuse. The major negative is that Mrs B, whilst happy to see additional income into her purse, is less than chuffed to see me then spend Sunday in front of the Betfair screen. So after last weekend's 'false start' on the footy betting, this weekend saw not one bet placed. I have no problem with limiting my trades to weekday evenings with a little weekend top-up, but I'm irritated that after months of struggling, the rhythm and routine I found last month has ground to a halt.

Whilst I dislike target setting, to see your P&L increase at a fairly steady rate on a daily basis is comforting. With my available hours limited, I think my preferred mindset moving forward should be to protect my bank balance, and let the P&L look after itself, for the moment.

An interesting post from Stephen Maher regarding whether successful Betfair trading is a good career choice. Most full-time traders have dropped out of their previous career, generally because they were unhappy in their role, and I'm sure appreciate the flexibility of their lifestyle, and not having to answer to anyone but themselves. I find self-employment has similar benefits. Stephen's issue is that he's never had a career. Personally, I would go back to college, finish my course and find work if at all possible. Even if that job isn't the 'big money, stress' type. In life, I think you need as many 'strings to your bow' as possible. Unforseen things happen, and a decent back-up plan is worth having. Five years ago, if I'd have been asked how I saw my coming years, I'd have been miles off in my prediction. Stephen has learnt the skills to be profitable on the exchanges and at the bookies. That's a useful tool to have. But I'd rather have it as one of a portfolio of skills in my pocket.

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