Money Management

[Evertonboy]

With the new season almost upon on us I thought it would be a good time to discuss a money management plan. My POA is as follows;

• Use a variety of systems and trade live matches where I am not working. My max loss/ stake will be 10% of my bank (It will be £100 to start, I aim to reduce this as my bank (hopefully) grows
• At the end of every trading/ betting day I will bank 70% of winnings should the bank be above £100 and the remaining 30% will remain in the betting bank. Should the bank fall below £100 any winnings will be used to build this figure back up towards the £100 marker

Now I will not be able to trade every live game due to working commitments. To counteract this I plan to base wagers based on my Kevin Pulliens stats. All bets will be singles and range from live match corner markets to your run of the mill 3pm kick offs. All bets will be staked in accordance to half of the kelly criterion with a max bet being set at 10%. However, I'd like to here peoples thoughts on what there maximum outlay would be for multiple bets at any one time in accordance to there bank. At the minute, I'm thinking to stick to 10% of the bank. I would prioritise bets by deeming those with the highest win % prediction according to my figures as first choice bets, working my way down any possible selections until 10% of my bank is spoken for. Any thoughts/ advice?

[undertheradar]

Re: Money Management It's been a week so far..how are things going? 10% of your bankroll per bet seems excessive, most sites/experts reccommend something much lower - maybe in the 1-2% range. Obviously your strike rate has a large inpact on this, with a very high strike rate you might get away with it. Good that you plan to reduce it though. My staking plan is what I call a reducing plateau system. 5% of BR per bet until my BR has grown by 20%. All bets will be at 5% of original BR until this hits 120% if that makes sense. Then I'll set a new target of 20% on top of my new BR and set a new bet figure, but this time of 4.9%. So each time I 'plateau up' I'll reduce my bet %.

[Evertonboy]

Re: Money Management I've had a positive start to the season, bank has grown by around 20% I've reduced my max bet to 5%. I know doing this really defeats the object of the Kelly criterion and I'll probably miss a few big winners but I aim to cut out any big losses as I iron out any discrepancies in my system. All trading wagers still come with a stop loss of 10%.