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#1 |
Conley
Join Date: Sep 2018
Location: Fergus, Canada
Posts: 261
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Calculating Profit
ted, I went with your advice and track my selections and see how I do. Well, I don't have time to handicap every race, so I went with doing Pick 4,5, and 6's from different harness and thoroughbred tracks. I started doing this since October 2nd and have hit 5/7 on my bets! But the real reason is to calculate profit, which I think I am doing wrong. Can you check my spreadsheet out and see how to calculate it properly if I did it wrong. Thanks Ted. I think you might need a google account unless the link works than I guess you don't =)
https://docs.google.com/spreadsheets...KuM/edit#gid=0 Last edited by CheckMark; 10-11-2018 at 10:43 AM. |
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#2 |
Grade 1
Join Date: Jun 2005
Location: Huntsville, Ontario, Canada
Posts: 7,302
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Will do. You need to grant me permission to access that.
Ted
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RDSS - Racing Decision Support System™ Follow on Twitter @SartinMethod |
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#3 |
Conley
Join Date: Sep 2018
Location: Fergus, Canada
Posts: 261
|
Maybe this link would work
https://docs.google.com/spreadsheets...it?usp=sharing https://docs.google.com/spreadsheets...it?usp=sharing Last edited by CheckMark; 10-11-2018 at 11:02 AM. |
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#4 |
Grade 1
Join Date: Jun 2005
Location: Huntsville, Ontario, Canada
Posts: 7,302
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They work. I'll get back to you.
Ted
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RDSS - Racing Decision Support System™ Follow on Twitter @SartinMethod |
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#5 |
Grade 1
Join Date: Jun 2005
Location: Huntsville, Ontario, Canada
Posts: 7,302
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Good results so far! Post these PickNs online in Selections if you like, even harness - develop a track record.
Like any wager log, I'd suggest tracking: - wager identity - selections - amount BET - amount RETURNed (or $0, if a loss) - profit/loss on the wager - running bankroll balance In your sheet, Cols A - F are fine. Col G should be a numeric column showing $ RETURN (or $0 if a complete loss) Col H Profit/Loss should be a formula: Col F - Col G ($Bet - $Ret): positive if a Profit or 0 or negative if either a Loss or if the $Return did not cover the $Bet Col I Running Balance should be a formula: the previous row balance plus Col H (Profit/Loss) from the current wager. To accommodate Col I (Running Balance), you should insert a new line above the first wager with an amount in Col I representing your opening Bankroll. You can also add a separate column where you record W or L (Win or Loss) like you have done in your Col G - to track your actual hit versus miss, and thus your number of runouts in a row, though the positive to negative ratio in the Profit/Loss column also gives you that info, more or less (though it mixes in Hits which did not break even, which is not necessarily a Loss). Of course to be real-world about it, your opening bank should be big enough such that a modest percentage (e.g. 2%) covers your wager, otherwise one loss wipes you out. In reality, the % of Bankroll bet should be in relation to your Strike Rate which so far is pretty high, but with a mix of various Pick-Ns (Pick 4,5,6s) the Strike Rate will vary for each and so a different % of Bank should be used for each. I say - set your opening Bank at $100,000 (why not! ![]() Of course there are more optimal ways to bet PickNs, such as Steve Crist's ABC system, or even better ones. Hope that helps! Good luck - and skill. Ted
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RDSS - Racing Decision Support System™ Follow on Twitter @SartinMethod |
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#6 | |
Conley
Join Date: Sep 2018
Location: Fergus, Canada
Posts: 261
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Quote:
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#7 |
Grade 1
Join Date: Jun 2005
Location: Huntsville, Ontario, Canada
Posts: 7,302
|
Your Profit - column H (really, your Bankroll Balance) is incorrect. You're forgetting to deduct your losses (and other arithmetic errors)!
This is what it should be, using the formulas I gave you above. .
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RDSS - Racing Decision Support System™ Follow on Twitter @SartinMethod Last edited by Ted Craven; 10-11-2018 at 01:38 PM. |
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