To put my 2 bobs worth in. I do not believe in all or nothing progression systems.
You are trying to recoup all losses in a series of 12 bets. What happens if the final bet only pays $2?
I only bet fixed odds, and I use a staking system designed around what I want to return, not what I want to bet.
I only try and recoup a little bit of lost money with each win. This means I rely on more winners, but can go a lot longer losing streaks.

Also I have kept records of the last 4000 bets, 1 selection per race.
You are basing your future financial prospects on a series of 12 races.

Besides all that, your total outlay is 45 yet your last bet using your average div, will not put you in front anyway..

I would recommend that you keep on searching. Start your system dutching your 3 horses to return $100. Look for something that will last a streak of 20 losses, and don't be too aggressive. If you have something that will return a profit on level stakes, then you don't need to be aggressive. All you need, is to minimize risk and maximise profits.

All you need is to return more than 100%. If you can do that, you are in a better position than ~95% of punters.

Good luck with it all....