Week 1: “Sticking to the Process” | My Value Betting Journey from $1k to $2k
We have the video of this article up on YouTube. You can watch it here.
From Monday to Friday, I went from starting with $1,000 to a low of $780. By the end of the weekend I’d taken my balance back up to $989. So, even though I incurred a loss in my first week, I learnt that it’s very important to stick to the process no matter what happens!
POSITIVES FROM THE WEEK
The biggest positive was the high number of trades I placed (207), which is directly linked to my success. Active Trademate users place 200–400 trades a week, which not only increases your chance of making a profit, but it decreases your variance and bad luck. My average closing edge of 2.7% is also very pleasing as it shows that I have a decent edge over the bookies currently.
NEGATIVES FROM THE WEEK
Unfortunately, I veered away from the Trademate system and placed three custom bets based on my own intuition. Two of these lost, so if I had resisted the urge to place these bets and stuck with the value betting system, I would have profited this week. I also need to become quicker in navigating through my bookmakers to place bets, although this will come through time and practice. Finally, I was beaten quite well by my Basketball trades this week, but over time my variance will decrease and I will improve through constantly having an edge.
WHAT I WILL IMPROVE ON
Placing less custom bets and even if I do, make sure there’s value in the odds I’m taking.
TRADES OF THE WEEK
Below are screenshots of my biggest positive edge, biggest negative edge, biggest win and biggest loss from Week 1.
Biggest Edge
Biggest Negative Edge
Biggest Win
Biggest Loss
Check out our Week 0 video how I got set up with my Trademate account and betting accounts here.
