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profitprophet's Blog

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July 22, 2004, 11:52 pmBack to the drawing board

My goals in Project $2000 were based upon the assumption that what I was doing was playing a 3 way box.  I got a hit Wed. & when I cashed the ticket today I only got $50 for a .50 cent box.  Soooooo, I guess I have been playing a 6 way box.  Bummer.  This will require going back and re-working all the figures.  I still plan on posting each days results from the first day but first things first.
Entry #2
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July 20, 2004, 6:08 pmProject 2000

Project $2,000 Begins!

This journal marks the beginning of my quest to earn $1,000 playing the Iowa Midday PICK 3 by February 1st, 2005. Once the project is finished, I intend to rework my goals to continue the positive direction.

I've been playing Iowa Pick 3 off and on and have had some good runs, but have also pissed away a lot of my profits because I don't play with a clear direction or plan. I have a tendency to get lazy and undisciplined. By creating this journal, I'm hoping to create a feeling of accountability for my results. The following chart details how I intend to reach my goal of $1,000 by February 1st, 2005 with a starting bankroll of $1,000:

July
Pick 3 Game: 10  50 cent 3 way boxes per day = $5 x 12 days = $60
Expected wins: 1 @  $100
Monthly Profit: $40.00
YTD: $1040.00

August
Pick 3 Game: 10  50 cent 3 way boxes per day = $5 x 26 days = $130
Expected wins: 3 @  $100 = $300
Monthly Profit: $170

YTD: $1210

 

September

Pick 3 Game: 10  50 cent 3 way boxes per day = $5 x 26 days = $130
Expected wins: 3 @  $100 = $300
Monthly Profit: $170

YTD: $1380
 
October

Pick 3 Game: 10  50 cent 3 way boxes per day = $5 x 26 days = $130
Expected wins: 3 @  $100 = $300
Monthly Profit: $170

YTD: $1550

 
November

Pick 3 Game: 10  50 cent 3 way boxes per day = $5 x 26 days = $130
Expected wins: 3 @  $100 = $300
Monthly Profit: $170

YTD: $1720
 
December
Pick 3 Game: 10  50 cent 3 way boxes per day = $5 x 26 days = $130
Expected wins: 3 @  $100 = $300
Monthly Profit: $170

YTD: $1890


January
Pick 3 Game: 10  50 cent 3 way boxes per day = $5 x 26 days = $130
Expected wins: 3 @  $100 = $300
Monthly Profit: $170

YTD: $2060
 

I've "budgeted" for $130 a month, or $5 per day based on playing 26 days per month, but realistically I know that won't be able to play every day.  Whether or not the goal is too lofty remains to be seen. 

 

My plan for moving up in limits is based on reaching my $2000 goal.  At that time I will start playing $1 3-way boxes.  Upon each bankroll double I will increase my plays up to the next dollar level until I reach the $5 level. 

A few final notes:


I realize that this is largely a game of luck and beating it on a long term basis is unlikely.  However trends and patterns do emerge from time to time.  The quest is to learn how to exploit those patterns and trends when they appear.

 

A computer guru friend is working on new money management techniques he calls CDRR (Computer Designed Risk Reduction)  & CDRD (Computer Designed Risk Distribution ) for his investment firm  which we hope to adapt to Lotto.

I intend to spend an additional hour a day researching my software reports and reading the bulletin board to broaden my knowledge.

Ok, I think that's it for the initial report. The games started yesterday, so I'll try to keep a consistent reporting of my progress. Please feel free to add your comments or suggestions. That's why I'm doing this!

- Profitprophet

 

 

Entry #1
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