That's right, I've made the decision that this month's P&L will be my last ever on the blog. There are 4 reasons for this:
I don't want my profit (or losses!) to affect the members of my
academy. I know that when I was learning, often when I looked at other
blogger's profit, it made me feel inadequate. This often lead to me
losing faith in what I was trying, because I wasn't making much (or
losing) and that meant switching strategies and becoming more and more
frustrated. Yes, they can be an inspiration to some and a guide as to
what is possible to achieve but everyone is different. I try to instil
in my members that profit targets are a bad idea and they should not
even be thinking about making profit at this stage, so to have my own
profits staring at them, is possibly a little hypocritical.
I don't think it's that interesting any more! I've shown over a period
of almost 2 years what is possible to attain. My bank is still growing
and my stakes along with it, so I hope to achieve even more in future
but there comes a point where it becomes a little vulgar to keep
shouting about your profit and I think I'm not far away from that point
(some no doubt think I went past it a while ago!). I have always felt
it's not a problem for me on this blog because I started by showing all
my losing days back in 2011. So I feel justified in showing a winning
period as it's well balanced. There is a reason behind it, it's not just
me shouting about profit for the sake of it - there is a journey on this
blog, from consistent loss to consistent profit. But it's been 2
seasons of winning months now and there's not much interest to be gained
from here on in.
3. I'm at the point now where I want my profit to remain private. Trading is now my primary income and therefore, when you read my P&L you are basically reading my salary. I would rather keep that info to myself from now on.
4. October is the last full month of tennis, so is a nice end point.
I think October's results are a fitting end to my trading journey on the blog. After 4 or 5 weeks where I was really just treading water and struggling to hit the heights of June and July, I finally hit that good spell of variance that I knew was around the corner and the waiting paid off. This illustrates perfectly what I've said in the recent past about trading not being one straight upwards line on a graph. Much of the time, it's a mental battle to try and stay patient and disciplined in the face of a dearth of opportunities or bad variance. But when a run like I've had in late September-October does come along, it makes it all worthwhile.
So I know what you are thinking: where does Mr. Webb come into this? Well it was a recent post of his which talked about how he tended to "accelerate into" a good start to the day, that got me thinking a little more about whether I was maximising my profit enough. I've usually tended to try and remain steady and not accelerate or decelerate depending on how my day was going. I have often thought about pushing that bit harder once I have some profit on board but it's often ended up the opposite - being slightly more cautious instead. But Peter's post did force me into trying something a little different and as I started October so well, I decided to put my foot on the gas; really use that green to get involved more into final sets of matches, churn over more or let trades run to conclusion. The results below, speak for themselves.
I finally hit the magical £10,000 mark, making October my best ever month of profit by a considerable distance, almost doubling my previous best. And although I would've achieved my best month to date anyway, that blog post undoubtedly edged me up to and over 5 figures. So although it's well documented that Peter and I have had our disagreements, I do have to thank him for this information - cheers Peter! Though let's not forget it was mostly down to 4 years of blood, sweat and tears (all of that meant literally) by yours truly.........
The vast majority of my profit goes towards living expenses and a project I'm investing in for the future - hopefully another income stream. So I'm not compounding much right now but next year, I hope to start increasing the bank more. There's still a way to go before I have problems getting matched on most matches - my maximum liability during October was only £500. So I hope this is not yet the pinnacle for me. It just goes to show how much you can make with relatively little when you trade as opposed to straight betting. My largest ROI for a single match was approx. 700% (Azarenka v Jankovic at WTA Champs). I couldn't dream of making returns like that if I was just betting on faves or going with the money. October is traditionally "upset season" in tennis and this definitely played a part in making this such an outstanding month for me.
So that's it, not much more to say really except I hope you've enjoyed my journey from this daily P&L screenshot back in February 2011 to this:
My latest Betting Expert.com article on the ATP World Tour Finals can be read here.