Daily Targets

I have written before on here how it is my opinion that having daily targets is a bad idea. For one thing, value opportunities do not not come along with the same frequency. (Most sports have busy days and quiet days for example). Some days I do not find any value bets, and on other days I might find two in the space of two minutes. Quitting for the day upon reaching an arbitrary profit is senseless, and of course the other problem with setting a short term target is that you put pressure on yourself to meet that target, and thus try to find an opportunity that really is not value.

Having said that, I do suffer from a strong reluctance to record a negative profit on any single day, which is really just as bad. I record the results of every market by sport every day and I know I have taken bets at bad value simply to show a profit. I guess the solution is to just look at the bottom line every month, but it's a hard habit to break. I find it immensely annoying to have to record even the smallest of daily losses. My longest run of profitable days is 42, my longest run of losing days is 4 in April 2007.

So, this is the only target I have, as such. Other levels that I like to beat each day, but that I can honestly say do not factor into my decision making at all, are my 10 and 30 day moving averages, my one year moving average, my all-time average, and my current year average. I like to beat these because if I don't, it's no big deal but my charts take a dip and that is not pleasing to me. Obviously the 10 and 30 day averages are particularly volatile so the key ones for me are the 1 year moving average, and the all-time daily average.

I also enjoy beating the daily average income for full-time male employees (£71.15 per day) and females (£56.29). As I've said before, numbers are fun.