Have you ever really managed your money and gave yourself the advantage with win money to turn it into larger sums at the table when you were playing?
I am not talking about wagering one or two units out of 20 units and stopping when you hit a 5 unit loss or a 5 unit win. All that will do, 100% of the times is grind you down sooner or later, period, simple as that. If you do not belief me, just do it and report back.
But like I said, really give yoruself an advantage and the fuel to smack the casino with their own money you just won? Or do you just replace your losses and call that gambling and move on?
My buy in is my risk money and that is part of a bank roll. It is my risk capital I attmept to win with and when I win, my bak roll is replenished if it was down and then i move on to really win. I have wrote enough here that all people know I have levels and plateaus that are vital to stay at and not gamble to always be gambling larger and larger, bigger and bigger, etc.
I have found the 3 biggest things in Money Management that give me huge advantages are the following:
1) A system of 1/3rd, 1/3rd, 1/3rd management of my wins. Which I have wrote about. In brief that means, I take 1/3rd of a certain amount of win money at a certain time and put it into my buy in stack of chips, I take another 1/3rd of the win money and save it in a pocket for a possible re buy in if i feel the urge and the action is there after a certain amoutn of time that session when i lose. I take the remaining 1/3rd of the win money and put it away and will not touch it no matter what, and that last 1/3rd would be equal or greater than the buy in I currently had at risk and in play;
2) Postive progressions of some type when winning. 1-3-2-6 or something else. Or, one initial wager followed by 2 parlays and then 3 pull downs and then a large 7th or 8th wager at some point with a pull down and a division of the 1/3rd MM system above. Then to a larger inital wager bet and a pull down and saving of any wins from that wager;
3) The employing of my (1 + 4 Side Parlay Wager) that can prove to be extremely profitable with huge returns. Not be be confused or classified with my intiial wager, no matetr if that initial, regualr or steady wager is flat betting, progression or whatever it is. A (1 + 4 Side Parlay Wager) of mine is a separate wager no matter what I wagered it on. Say I won $500.00. I might be wagering $100 or $150 on something. Out of that $500.00, I might allocate $300.00 for 4 attempts to make a successful (1 + 4 Side Parlay Wager) be successful. Example. 4 attempts at $75.00 no matter what I am wagering in or on something else. The Side Parlay is never my main or only wager for many reasons and factors. It is strictly on the side. $75.00 and parlay the wins 4 times and then out with that. That money or win will never touch my buy in, it is strictly win and hold. If not I lost $300.00 of a previous win. $75.00 with 4 attempts as I said. $75.00 first wager. $150.00 for the 2nd. $300.00 for the 3rd. $600.00 for the 4th. $1,200.00 for the 5th. That is 1 + 4 parlays. The result would be a profit of $2,400.00. I give myself 4 complete chances on the casino to accomplish that with the $300.00 of previous win money, rather than throwing that part of a previous win (the $300 into my pocket or my buy in stack, etc.). With a $600.00 (1 + 4 Side Parlay Wager) chance, I do the following. 1st wager of $150.00. 3nd wager of $300.00. 3rd wager of $600.00. 4th wager of $1,200.00. 5th wager of $2,400.00.
So go ahead and believe that a 3 or a 5 unit stop loss and coupled with a 3 or a 5 or even a 10 unit stop win will allow you to be a successful gambler. I laugh until my stomach hurts when I read the gist of so many Money Management Systems that people claim allow them to employ a stop loss or a stop and how successful they are.