For those of you that have followed me since the beginning of the year you will know that I have been running a sort of preparation course for those that want to actually start making a profit from their racing and all the steps required to do this.
It’s that time of the year where we have come to part four of the course and it wouldn’t take a genius to know from the heading that this part is about losing runs.
We have covered the following topics on our year long quest as per below:
1. Selection Process/Tipsters/Systems
2. Bank size to cover all the above selection processes.
3. Percentage of the bank to be betting.
4. Losing runs and how you will deal with them on a mental level.
I will list the relevant articles at the end of this one so those that have not been following can catch up and start to implement some of the advice.
So losing runs. Probably the worst aspect of betting and something that kills the task of trying to make it pro or at least profit. I of course have losing streaks and by god do I do them well 😀
I maybe an expert in losing runs but I still make a profit year in year out and although they are inevitable they still make my toes curl!
So by running through points 1 to 3 we should have a sound method of picking winners or a tipster that has given us a proven track record of making a profit. We should now also have the correct bank size to bet these selections. On top of that we should also be betting the correct percentage of the bank in order to protect it.
Despite being adequately prepared we will of course hit losing runs and this is what makes people give up. However with proper preparation we can overcome this and manage our ability to get over the emotional hurdle that comes with it.
Have a look at the table below of some of my bets from earlier on in the year:
As you can see one of the systems I run encountered a losing run of 12 runners in a row and was a week along. Now if I started out with a £100 bank and had £10 a bet I would have given up as my bank would have been wiped out. However because I had the correct bank and kept going I then hit an 8/1 winner and a 7/2 winner one after the other which gave me half a point profit or in other words clawed back my losses in the space of one afternoon.
I was able to cope with that losing run because I knew that I had a big enough bank to cover it and that it was inevitable that I would hit a few winners that would bring me back out on top or at least cover my losses.
So you can see the importance of having the correct bank and staking correctly is the key to long term success and coping with losing runs.
That’s it from me this week. I’ll be back next week with more on losing runs and a story about the longest losing streak of my whole career and how I nearly lost the faith!