I've been reading the forum quite a bit lately but haven't posted much besides the odd comment here and there. Markets have just been too frustrating for me in more recent times and i've been concentrating on a few others things (Work/Life) so therefore haven't been able to contribute much to a lot of the discussion.
However something i've also been working on is approaches to gambling (i.e. sports and racing betting). Majority of you probably find this hilarious but I figured i'd post here as some people may be intrigued and I might get some quality input from people. First i'll give some background as to what i've done and then some detail on what im looking to find/achieve in this forum.
Over the past 2-3 months i've developed on excel spreadsheet that allows me to complete my own ratings on Australian horse races, essentially providing in my view who I think the favourites are etc etc. Basically i've refined this over time and found a way to bet on Australian horse racing profitably. However unlike most gamblers i've also approached this with a share traders mindset as well looking for the best risk/reward combination and always searching for value (betting on horses at high odds when my system rates them as a top chance - going against the crowd somewhat).
I've used share trading statistics that i've found in a Tech/a thread from ages ago to help gauge how my betting approach is going. The following is an output I posted on a horse betting forum some weeks ago (it's actually more up-to-date now but as i'm not home I cant post currently but will tonight).
As you can see its doing quite well, but I was curious as to what other statistics, charts etc people would look at to understand how healthy the system actually is. Over the last few nights i've added charts showing the maximum drawdown on my bankroll and also how many bets have been x standard deviations away from my mean to see if outliers are carrying the bulk of my profits (and hence the system isn't actually that good).
All questions, comments are welcome. Hopefully this thread doesn't get closed down as i'm trying to take a traders approach to the betting of the system and I legitimately think a share traders mindset can be applied, and very well i'll add.
So any comments and suggestions about statistics or charts that I may be missing to help me gauge and monitor the health of my trading (betting) wold be greatly apprecaited.