Thursday, 21 February 2008

The Final Countdown.....

Well, I'm pleased to say that I now have a start date for The Experiment.....

The Experiment will start on Saturday 1st March 2008.

I was informed at work this afternoon that my proposal to decrease my working hours has been approved. It has been agreed that I can get 4 afternoons off every week to allow me to carry out The Experiment. I will start at 8am for my 4 short days and finish at around 12.45pm. This will allow me to get home and start trading on Betfair. This will start from the 3rd of March.

I will continue to work for one full day a week and if possible, I will try to make this a Monday although work committments will dictate what full day I have to work. I'm not a huge fan of Monday afternoon racing as it's usually quite poor quality and I would imagine that liquidity on Betfair would be quite poor.

One point that I should make is that I do intend to gamble on evening racing in the Summer where possible, so I will have sufficient opportunites to carry out The Experiment. I don't intend to gamble on Sunday's as this will be my only day off.

I already have agreement from my bank that I can borrow £15k to fund The Experiment, so I'm all set. Once I receive my £15k capital, I will deduct all of the costs for The Experiment and let everyone know how much my starting bank will be. As I've said previously, my bank will never be fully exposed but I will use all of it if I need it.

My next practice day will be on Saturday again when I'll be trying to implement what I have learnt so far from my previous practice days. Unlike my other practice days, I'll be trying harder to make a profit as I'd hate to think that I'm starting The Experiment without ever having made a daily profit from trading on Betfair!

Keep voting by the way. I'll stop the vote when The Experiment starts and I'll comment on the findings.....


Anonymous said...

Congratulations Graeme on getting your work to agree to this.

I've been reading your blog over the past 2 weeks and it's been an enjoyable read. I hope that you continue to keep writing the blog even when things may not be going your way. It seems quite common for people to stop writing these blogs when things don't go their way.

Good Luck for when it starts.


leonthefixer said...

Good luck mate - look forward to reading how you get on!

leonthefixer said...

Goodluck for Saturday mate! Hope you make your first profit day for the blog - it would be good to see it!

I have started to keep track of what would happen if I were to let bets run following your recent comments.

Best of luck again! I look forward to reading how you went on Saturday night!

Cassini said...

Once again, I would urge you to be very careful. Start small and build up your bank from your own money. Using borrowed money is not the way to go. Scared money and all that. I'd also suggest that since the weekends are the best time to trade, you should consider either giving up your Dundee season ticket or tell your girlfriend that Sundays are now reserved for more important activities. Surely you have mates who can entertain her while you are working? Good luck anyway and keep posting good or bad. And be patient, there's a lot to learn.