Training contract application – second time lucky?

I am thinking of reapplying to a firm I applied to last year. Am I wasting my time?

This is my second year of training contract applications and I am thinking of applying to a firm that I applied to last year. Am I wasting my time? Any advice for or against this?

Also, any advice on how I should be looking to amend my previous application? I feel like my position hasn’t changed much from last year.