The nice thing about trading ,which is a nice way of saying betting, which is a term stock brokers shun to use, especially to prospective clients, is that one can start with a very small bank & try & build from there.
With shares, the min bet (or Trade) one has to entertain is $1000, that's because the brokerage fee in & out is approx $30+ for each transaction, now this is a lot of money when say day trading, where any number of transactions can take place.
If one is consideriing Lay betting , here is a money management method that works very well, if one can pick the right result at the end of the day.
Lay Bet 1-2% of bank on selections paying $6.00 (5/1) & less
Lay Bet 1-0.5% of bank on selections paying between $6.20 -11.00 (10/1)
Lay Bet 0.25% of bank on selections paying between $11.20 -16.00 (15/1)
I mention the fractional odds because, for those who dont already know, that's ones payout figure, or the other term used, is Liability if unsuccessful
e.g $10 on a 5/1 ($6.00) horse = $50 payout figure (Liability) if unsuccessful.
The figures have to be kept smallish because when those babies bite us, they can bite hard, especially in the upper price range.
I have seen a number of Lay betting plans from the UK charging $100+ for the system of targeting odds on horses to lay.
Usually they target horses priced between $1.00-2.20
If one wishes to entertain lay betting , keep in mind when one places their bet, say $10 at 5/1 (6.00), Betfair take $50 out of your A/C ,when one places the bet & if successful they give back $60 leaving you $10 gross profit , 5% commission is then deducted. In this case .50c leaving you $9.50 net profit.
So try not to go too crazy with multiple bets all at once, without being aware of this.
If one can pick some of these short priced horses to lose, which they do 45% of the time, using a staking plan like the Fibonacci ,veriouse reviewers who test out plans independently, claim that it is the most successful of all the methods of Lay betting, because ones exposure to Liability is minimal, which means one can possible entertain a staking plan of sorts to try & target some leverage.
A word of warning , try to never use a progressional staking plan on laying horses who are priced above $2.20 , one could get fried alive, its not like normal win betting & one usually pays the penalty for this indiscretion.
plus one would need a huge bank of around 6000:1 ratio if one were to contemplating the idea of laying horses say $5.00-11.00 range.
e.g. Say one targeted horses at exactly $6.00 (5/1) this is what a normal betting to price progressional staking plan would look like to win $1.00
$1 -lost $5
$6 -lost $30
$36 - lost $180
$181- lost $905
$906 - lost $4525
Total loss $5645 Ouch! Why is my butt hurting?
So the message is, try & use the percentages as mentioned above for the whole day, one can adjust accordingly the following day.
One conservative approach that can work, is try & stop betting for the day once bank has been increased by 2.5%+ for the day.
Over a week , that's a potential compound growth of approx 19% a week increase on ones bank & over 30 days it compounds out to doubling the bank.
It sounds easy , but there will be hiccups along the way.
Cheers.
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Cheers.
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