My New Challenge: £1k to £101k

The Betfair Trader / Editor / 01 November 2007 / Leave a Comment

The Betfair Trader tells us why he's felt the need to set himself a new challenge

It's new challenge time! After paying for my wedding I've decided I need a new goal to focus on to keep me on the straight and narrow. So after much thought I've come up with the rather unoriginal £1,000 to £101,000 challenge.

The aim then is simple. Turn £1k into £101k. And pocket a cool £100,000 profit in the mean time. Well, one can but dream! The whole thing may not be as far-fetched as it sounds though. Why not? Because I'm going to cheat a little! The new challenge will include my results to date. Which means, as the picture below shows, my original £1k now stands at £46,734.51. (Click graph for larger image)

So why a new challenge? Simple. It helps keep me focussed and disciplined - as does writing this blog. The idea has worked once, with my successfully saving for my wedding, and hopefully it can work again.

And why this challenge? Given time it's realistic. I'm not going to achieve it in 3 months. But at the same time hopefully I won't still be at it in 3 years. Goals need to be challenging but achievable. I think this is both.

There we go then. A new challenge. With a new look blog and a new bankroll management policy to follow shortly. Check back soon!

To read more from the Betfair Trader go to:

http://thebetfairtrader.blogspot.com/