Tough Times! Time to STOP ..... STOP CHASING

It's been almost two weeks since my last post and that was after I would post more frequently. May be it's because I don't have anyone following the blog yet that is causing be to lose discpline which was the whole point of having a blog.

Well alot has happened since my last post and it hasn't involved making any profit !!!! Lost about £4k towards the last day of last month. Fortunately it didn't end the month at a loss, but in my mind it did and I felt compelled to recover the lost money as soon as possible. So the inevitable happened and I lost some more.

From Day One until the end of September My profit was £1891.67

Anyway I'm not going to kid myself, I started losing (but not through chasing) after the initial big loss for a few days on the trot. Then I went through a few days of decent profit before losing again and probaly hitting an all time low of somewhere around -£5k for the challenge. Anyway, I have turned that around and the last couple of days have been very kind on all fronts and helped to build on my restored confidence, particular in my speciality which is US racining.

The sum total of all this I have made £3632.84 profit this month and therefore £5524.51 since the start.

I got myself out of jail but I'll only be a consistent winner if I learn from this and STOP CHASING

Just to show what a turn around it's been. At one point yesterday I had £500 in my bank after starting the day with £4k. I layed an odds on greyhound that lost and from there I managed to build my bank and end the day with over £7k and I followed this up by steadily making £2k profit after having a poor start. To be honest my staking yesterday was no different from normal. I just kept backing winners. In fact last night on the US I was only planning on a short session. The first bet won, 2nd lost and 3rd won, putting me nicely ahead and I thought I'd stop there but decided to continue until I had a loser. I got 7 winners on the trot at all sorts of good prices :-)

So all in all I've made just over £5.5k in 6 weeks but in the last 10 days or so I;ve actually lost probably about £400 and put in lots of effort for this privedledge.

It's funny I was reading a thread on the betfair forum about someone with a really gambling issue asking for help and unusually there were lots of helpful responses including this one

When gamblers lose lots of money it`s there naturalinstinct to try and win it back. However, it never works and one gets in deeper and deeper. One stops looking and form and logic and starts betting prices, e.g. I`m 2 grand down so I`ll put £200 on the 10/1 shot to get my money back.

Best advice that I can give you is that you must forget all about the money you`ve lost - ITS GONE. Take a break from gambling for a week or so and recharge your batteries and confidence. If you can`t do that, cut your stakes back and start betting things you fancy, not prices. Win in small doses. Slow and steady wins the races.

Seriously, you`ve got to forget what you`ve lost or else you`ll end up losing everything by chasing.

And this one as well

The belief that it is still somehow your money may be behind this chasing business. You can never get lost money back. You may win other money in the future, if you choose your selections with great care. But cutter is right, the lost money is forever gone.