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Having read a lot of this forum for the last few months, I think it is time to create my own "challenge" in order to create some accountability for myself.
I am in a full time job in a profession I love but I am looking to create a second income for myself, doesn't have to be massive money but obviously a decent amount would be nice. I am able to spend time abroad and hopefully if I am successful the winnings will be put towards some of these trips. I have been doing a lot of reading, watching and learning over the last few months and have been trading for a few weeks. I obviously have a lot to learn and I am more than prepared to put the time in that is needed. I am ready for a long hard road that I hope will enable to me to create a second income. I am certainly not expecting to "get rich quick".
From the reading I have been doing and my tiny amount of trading done so far, it is clear to me that discipline is the key. I am starting with tiny stakes but if I can profitably trade long term then I will up my bankroll and increase the stakes. My initial roll is a small amount that I am happy to loose if need be in order to educate myself, although obviously it would be nice to be successful and set of in the right direction. I am happy to make a tiny amount each race for the next few months in order to show myself that I can be profitable. If I can do that, then I will be happy to increase my bankroll and stakes.
My plan is to trade a 2/3 hours, 5/6 days a week initially only on the UK races. Weekends I will be putting in more time. I appreciate that the tiny profit I aim to "eek" out every race mights seem a "waste of time" to some people, however this is more about showing to myself that I can be profitable, consistent and disciplined for weeks and months, something that is essential before upping my bankroll.
I will invest in Geeks Toy software after my two week trial is up and I will be educating myself as much as I can in order to give myself the best possible chance to be successful. I obviously have limited understanding and experience at the moment and won't be using technical terms etc at the moment but as my knowledge and experience grow I am sure my understanding will too.
I will be starting with a bankroll of 83.27pound, which is what is in my account now. I hope to get a point where I have a healthy bankroll and I can withdraw winnings each week or month. That is the long term goal, how long it takes I am not sure but that is where I want to be.
I will start with 4pound stakes and will be trading pre race UK horses only. Limiting my losses will be key and I am writing this thread to assign myself some accountability, all with the aim of improving consistency and discipline. I will post my profit and loss the day after each session. Unless I flop massively this won't be a thread that disappears after a few weeks, this is a long term plan and I am determined to succeed.
I look forward to hearing from others, advice criticism etc and hope that this thread and forum will help me in my goal of being a winning trader.
Wish me luck!
Bradders
I am in a full time job in a profession I love but I am looking to create a second income for myself, doesn't have to be massive money but obviously a decent amount would be nice. I am able to spend time abroad and hopefully if I am successful the winnings will be put towards some of these trips. I have been doing a lot of reading, watching and learning over the last few months and have been trading for a few weeks. I obviously have a lot to learn and I am more than prepared to put the time in that is needed. I am ready for a long hard road that I hope will enable to me to create a second income. I am certainly not expecting to "get rich quick".
From the reading I have been doing and my tiny amount of trading done so far, it is clear to me that discipline is the key. I am starting with tiny stakes but if I can profitably trade long term then I will up my bankroll and increase the stakes. My initial roll is a small amount that I am happy to loose if need be in order to educate myself, although obviously it would be nice to be successful and set of in the right direction. I am happy to make a tiny amount each race for the next few months in order to show myself that I can be profitable. If I can do that, then I will be happy to increase my bankroll and stakes.
My plan is to trade a 2/3 hours, 5/6 days a week initially only on the UK races. Weekends I will be putting in more time. I appreciate that the tiny profit I aim to "eek" out every race mights seem a "waste of time" to some people, however this is more about showing to myself that I can be profitable, consistent and disciplined for weeks and months, something that is essential before upping my bankroll.
I will invest in Geeks Toy software after my two week trial is up and I will be educating myself as much as I can in order to give myself the best possible chance to be successful. I obviously have limited understanding and experience at the moment and won't be using technical terms etc at the moment but as my knowledge and experience grow I am sure my understanding will too.
I will be starting with a bankroll of 83.27pound, which is what is in my account now. I hope to get a point where I have a healthy bankroll and I can withdraw winnings each week or month. That is the long term goal, how long it takes I am not sure but that is where I want to be.
I will start with 4pound stakes and will be trading pre race UK horses only. Limiting my losses will be key and I am writing this thread to assign myself some accountability, all with the aim of improving consistency and discipline. I will post my profit and loss the day after each session. Unless I flop massively this won't be a thread that disappears after a few weeks, this is a long term plan and I am determined to succeed.
I look forward to hearing from others, advice criticism etc and hope that this thread and forum will help me in my goal of being a winning trader.
Wish me luck!
Bradders
Hope that bank is still alive.
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