Following on from the previous article where I talked about using a specific horse racing system and Betfair as a way to grow a nice tax free interest as opposed to putting £100 in a bank.
Obviously, before you ask, I’m not saying that you should transfer all of your money from your bank account to Betfair or any other trading platform…
However…
There is an argument for it.
As I stated yesterday, a good friend to Streetwise, John Banks, put £100 into Betfair to test a new system he had developed and doubled his money in 24 days which gave him a return that simply cannot be matched by a bank.
At 5%, a UK bank would give you just £5 in interest for the whole year on a £100 deposit.
That wouldn’t even buy you an iced oat milk latte and a croissant from the new coffee shop that I have seen open up in the area.
Apparently the croissants were £2.95 each!!
£5 over a year is poor.
Makes you wonder why people actually bother using banks these days.
Ok, they are a good place to hold your money so that you can use debit cards when you go shopping, but they certainly are not a place to put your money to make money.
The other day I watched a video where a professional forex trader said that the risk reward for most people trading currencies could be 1-1 and that a strike rate just had to be over 50%.
He said a strike rate over 60% was a decent rate to make a profit.
In short, what he was saying is that if on average you lose £5 and on average you win £5, with a 60% strike rate you will always be in profit.
1,000 trades with a 60% strike rate would mean 600 wins and 400 losses which would look like this:
600 x £5 = £3,000
400 x £5 = £2,000
Profit = £1,000
Losing £2,000 seems a lot and I know that you would prefer to win the full £3,000 but that is not realistic, there is not one system which can give you a 100% strike rate.
If anyone tells you otherwise, they are lying and I suggest that you stay clear of them.
Making £1,000 in profit with a strike rate which is just slightly over 50% isn’t too bad at all.
Why am I telling you this?
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I want people to know and understand that losing is part of the process and that even with a large number of losses; a decent sized profit can be made.
You can lose nearly 50% of trades and still make good money.
Far too many people are conditioned to fear losing money, which isn’t necessarily bad; it stops people from making bad decisions most of the time.
Protecting your money is important, but being too protective can prevent you from going forward and making a decent profit overtime.
Going back to our friend, John Banks, who had turned £100 into £200 in 24 days… he did that even with losses.
Fortunately, his strike rate is far greater than 60%, the last time I spoke to him, he said it was around 72% and he still doubled his money fast.
Doubling £100 into £200 in 24 days could give you £12,800 in under six months if you maintain the same strike rate.
It is a good way to make a decent tax free interest which as you know, you won’t get from any bank here in the UK.
So, the question remains…
Is it better to put your money into a bank or into trading platform like Betfair?
Obviously, you don’t put it all in, but if you have a spare £100… £200… £500… or more, this could be the perfect system for you to bank thousands of tax free pounds.
To discover more, go to:
Easy As 1-2-3
Kind regards.
John Harrison.
P.S Taking just £100 starting capital and doubling every 24 days, you could be sitting on a profit of between £50,000 and £100,000 in under a year… and that’s without introducing a single penny more in capital.
Here’s that link again: