I live in Ukraine which is a fairly cheap country to live in, so making a few quid a day from trading has been enough to provide a local living. My trading strategy is to scalp the stable handicaps with £50 stakes getting out before the crazy last two minutes.Yesterday however I upped the stakes to £200 and £500 and the odd £1000. I would like to think this was in the name of experimentation. If I am honest it was greed. I lost £250 on the day. My reasoning deserted me and I found myself chasing losses. Something I wasn't prone to do with smaller stakes. I know a lot of people have lost much bigger figures but it was stil an expensive day's education. I started off great (thinking wow this is easy) but after 3 races I chose a race that was a bit too volatile and off went the price. If that happens with £50 stakes it,s usually quite easy to scratch or get out for a small loss. Not with £200 or £500. You try to get out but the stake size just seems to force the price still further away. TBH it has shaken my confidence somewhat. Maybe my reasoning that you need larger stakes to make more isn't correct. Maybe just more turns through the market would be better, however it seems to be getting increasingly difficult to get more turns through the market in an accurate manner. Or a change of strategy looking for swings instead. I can of course stick to my £50 startegy and keep on taking a local wage but I had more ambitions for my trading.
I didn't find the right solution from the internet.