This is from one strategy and I didn’t place any of the trades.Because you know this is automated…
The bank stands at £320.58 which includes a little bit of June as well, but this is a great result.
It’s 100% moving in the direction I want it too.
Looking back on the last month it’s really made me think about a few things, I’ll highlight them here first then go into a bit more detail on them.
The focus on one strategy is key. Many will think you need a host of strategies but the people who also think that usually aren’t profitable and are running around doing a lot. There's usually a belief that they need more than one strategy, I wonder why that is?
You want to get one strategy right and consistent before adding in anymore, many of the members at BTC came in thinking they needed loads of strategies and then they got focused on one and put all their effort into that one strategy, guess what happened?
They built a profitable strategy. Why?
Because life is busy, trading is hard, trying to collect all the data and everything else that goes into building a strategy. When you spread what little time and focus you do have on multiple strategies you are spread too thin, you’ll never make it work.
The Japanese have a saying…
‘Instead of trying to use 1,000 tatamis, use one well first. If we could do everything at the same time well, everybody would be doing it.’
So instead of trying to use a lot of strategies, use one well first. I’d be interested to know though if you care to indulge me, why are you not focusing on one strategy? Why are you chasing multiple strategies?
Moving onto the next point, I left the BTC shed in May and went on holiday. What was amazing about this was that normally when I go away I am happy to take a break from trading and then towards the end of the holiday I am ready to come back to it.
I mean I have always loved trading. Always wanted to get back to it, not because of the money it brings, it’s never been about that for me.
I’ve always treated trading as a game, I love games. I love to try to beat myself, I am not interested in beating others. Always interested in just becoming the best version of myself.
So this was a refreshing change this time, I said to myself before I go away don’t even check it Ryan. I turned off all notifications as well. So I had zero idea how it got on…
Don’t worry though we have things in place if things go drastically wrong, the bot cannot just go trading all my money away…
Then I came back to see it had been trading while I was away, a really novel concept for me.
Even though now I have been doing this for a good few months, it still is new to me and having trades placed while I am away was exciting!
I wasn’t even worried because if Betfair has an outage it stops the bot, which actually happened on the 20th of May. It didn’t restart either, which meant I actually missed out on some profit would have been higher - but beggars can't be choosers!
But it also highlighted something else? What happens in that scenario? Well it’s never happened before so I didn’t know… I knew I had some things in place to stop the bot but I didn’t java anything to restart it (as usually I am here so I can message Adam for the 100th time that day anyways and he will fix it!) what I now have on my bot is that it checks with Betfair to see if the issue is resolved and the exchange is back and then restarts…
Just like when Harry Potter stood looking at that tent at the Quidditch World Cup and was blown away by magic, I am blown away by automation…
The fact that I made a good profit this month from one strategy from a bot is really exciting and shows the potential in this, imagine if that had been £100 per point…
This time next year Rodders!
TLDR:
May Profit: The bot and one strategy made a 15.64pts profit, bringing the bank to £320.58.
Focus on One Strategy: Concentrating on a single strategy leads to better results. Many successful traders start with one strategy and master it before adding more.
Automation Success: Despite being away in May, the bot continued to trade effectively. Automation handled trading even during Betfair outages.
Reflection on Trading: Trading should be approached as a game and a personal challenge, not just for profit. Automation can enhance efficiency and allow for hands-off management.
Question to Ponder:
If you focused all your time and effort on perfecting just one trading strategy, how much more profitable and consistent could your results be?
Ryan
