One of things I like to do as the summer finishes is take a detailed look at what I’ve done over the year.
I started off with a 12 new bots this year aimed at horse racing markets. They are purposely pretty generic, by that I mean apply to more scenarios that I would typically aim for. As a result they have a higher turnover of my bank with a smaller than average ROI.
I don’t have a problem with that, the fact I can just leave them to do their own thing frees up my time to develop other stuff and for stuff outside trading.
If you are close or have been hit by the betfair premium charge then this does wonders the alleviate that. Look at how betfair calculate this and you will see why.
Of the 12, 5 have outperformed my expectations and I am looking to push these on. What’s the best method to do that? These adjusted stake internally, so for example if bot A yielded 5%, and bot B -2% then my daily stake for A would be higher until that yield changed.
Now I am confident of their performance, I will take the monthly p/l for all 5 and apply the same staking to all 5. I think it’s a good thing to do where you have consistent performers, means less administration and will roll over any downturns.
Of course that means if I’ve overlooked something or a trend changes dramatically then I will be overstaking as the same staking is used for everything.
I’m not sure if this is the way forward to be honest. It was born out of one bit having a superb month and the staking increasing wildly as I’d allocated a small bank to each bot.
I reacted by reducing the % bank stake of everything but the return it was giving me wasn’t worth the administration i was doing in logging the results.
I know I harp on so much about staking but it’s a key fundamental. My last blog mentioned busting the bank, well correct staking could have prevented the spiralling effect leading to that big bank busting, losing bet!!
I think this will work and I’ve made the correct decision, we’ll see. Have a great autumn and I’ll be back with another double header blog soon.