Bit of help here guys.......

[Coldturkey]

Hi,
I'm trying to set up a strategy where I lay a horse for say 20e.
Then the next horse I will lay for 20e if previous horse wins or 30e if the previous horse loses.

Any ideas where I start?

Thanks in advance

[LinusP]

Use excel and base it off your balance, but...

What's an e? How big is your bank? And I hope mugs doesn't see this thread...

[kelpie]

It must be spring. I think I can hear a Martingale chirping

[LeTiss]

I like your username Coldturkey - that's exactly what you will be doing when you're recovering in GA

[Naffman]

Wow, I think some people have got to cocky for their own good! His question obviously didn't come out right but I think it is wrong to shoot him down for it.

[LeTiss]

Wow, I think some people have got to cocky for their own good! His question obviously didn't come out right but I think it is wrong to shoot him down for it.

I'm actually helping him Naffman

The majority of people trading on BA (or attempting to trade) have gravitated to this after having an interest in betting

Unfortunately, the gamblers mindset is the biggest reason for failing at trading. It stops you accepting a loss and moving on to the next market, you feel let down by not at least having a run for your money, and the urge to chase that trading loss becomes overwhelming

I've been there myself, so I know it's a tough mental hurdle to escape

The Martingale system is a flipping disaster - it's a one-way ticket to an empty bank account, and it goes against every aspect of successful tradin by chasing losses

[Naffman]

Fair enough LeTiss, but there are some people on here that would love for others to fail IMO.

[LinusP]

Fair enough LeTiss, but there are some people on here that would love for others to fail IMO.

Not true, I told him how to do it and if he pm's me I can send him the spreadsheet that will do it for him.

[Coldturkey]

PM send LinusP.


LeTiss, the world and not for the better is full of you guys.

I'm trying to set up a rule in the morning with my bets and each amount I bet is dependant on my pot. The amount I bet is a based on Kellys criterion.
http://en.wikipedia.org/wiki/Kelly_criterion

If you actually have any input to my actual question do let me know.

Quote from Muhammad Ali
Silence is golden when you can't think of a good answer.

[LinusP]

I can't find the spreadsheet at the moment but I recommend having a go yourself using the betangel basic spreadsheet as a starting point. If you know your original bank size then you can base the stakes off your current balance.