Thursday, 3 January 2008

Looking Back and Looking Ahead

New Years Eve is always a time to reflect on life, and for me never more so than this year.

Personally 2007 has been the worst year of my life. I lost my Mum in July after a long and brave battle against breast cancer. I can't even begin to describe the effect her death has had on me and the rest of the family. Even now six months later it is still hard to believe she is no longer around.

I've spent the last few days of the year helping Dad move in to my sister's home and to clear out Mum and Dad's house which has now been sold. We've spent much of the last few months sorting things out, Mum wasn't one for throwing things away and so lots of memories of childhood and our lives over the last 30 years have been re-kindled.

It's been an emotional time for us all, but it's a new year now and time to get on with things.

Last summer I was able to take time out to think about where my life was going, and this blog was one of the by-products of this. I wanted to try and move towards making more money from betting and spend less time working and more time enjoying life. Started on the journey on the 1st of October with a clean sheet of paper, a few tipping line subscriptions, some trading software, multiple betting accounts and £6000 in the bank.

If you read the blog for the last three months there have been plenty of ups and downs, mistakes on my part, mood swings, big profitable days, big losing days. But the overall figure shows a profit of £3750 in three months. Basically this pretty much covers the costs of the tipping subscriptions , indeed the amount I won during the last week in September covered the rest. So from 1 January I can start with a clean slate. There will be renewals of the subscriptions during 2008, except for Isiris which is already paid to the end of 2008.

For 2008, I am aiming for a profit of £24,000 by the end of the year. This is before any expenses (subscriptions, phone calls etc) are taken into account, so hopefully I can clear over £20,000. It's an ambitious target and one that will take some achieving, but I think it is possible.

One thing that I will need to do is increase my staking as the projected winnings from the tipsters will be eroded considerably by the subscriptions. For example, in their new year message Optimum Racing forecast a profit for the year of between 50-100 points. At £50 per point this equates to £2500 - £5000. If the figure is at the lower end of the forecast then the yearly subscription will take nearly half the profit. I think I can assume the rest of the services will achieve a similar outcome, and so a revision to the staking plan is required. I have more money available to put in the kitty, so that's not a problem. One thing I must do is have more trading sessions, I have done very little trading over the last 5-6 weeks and that is no good to me. I reckon I need to be making £200 a week to reach my target, allowing for holidays etc.

Need to spend a few days refining my approach for 2008, but I think I know where I am headed for now.

At present I am still going to be very busy workwise as things stand now, but this is something else I need to look at in 2008. I am planning on moving house late this year / beginning of next year if the property I am looking for comes through, and therefore I need to be able to get a mortgage so I don't want to mess that up - another thing to ponder.

Well that's it for now. Thanks for reading. Hope that 2008 is all that you want it to be.

1 comment:

leonthefixer said...

Best of luck for 2008 mate - hope things get off to a good start for you!