Sunday, 22 March 2009

Staking plan change of heart

Have had a change of heart with regard to my staking plan.

As mentioned previously, my ultimate staking plan is 2% of bank, without reducing stakes from the peak unless the bank gets to 50% of that peak. It then reverts to a new peak, and new stake as each new summit is reached.

I hadn't planned on bringing this in until the bank got to £1000 because of the reasonably small sums involved.

However I have now changed my mind about this. I don't actually want to put my "own money" at risk at a time when financially things are tight with the new baby due this summer.

From today therefore, I am backdating my staking plan allowing for this 50% reduction of stake.

If I had been doing that from day one, the bank would be now on £82.99. Here is the graph.

The current stakes are: £2.20. The bank is £43.97 more than my previous bank. This is the money I won at Cheltenham last week and is still deposited in various bookies accounts.

Some people may think it folly to change staking plans midway through, and it maybe is, but that's the way I'm doing it. If I had loads of spare dosh I wouldn't be anxious to see the losers continue to pile up. I haven't, so I am and I don't want to be worrying about things and playing with scared money, that's no fun at all (for me anyway!).

And apart from anything if ever anything was going to spark a run of winners it's reducing the stakes by almost a third!!

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