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Drawdowns and Stop Losses

Started by alrelax, July 28, 2021, 01:00:28 AM

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alrelax

You need to be acclimated to Drawdowns and accept they are a part of almost every session.

Drawdown what is it?

It is technically the amount of money you lose before you start drawing of profit from your buy in.

First.  When does it occur. It can be in the very beginning of your session or it can equally be in the middle or towards the end, when you are on your last few wagers before exhausting your buy in money.  Drawdown can happen at any time. The only time it will not happen is if you win in the very beginning and keep winning and cash out never losing any of your buy in.

Second.  In my opinion it should only be viewed with the amount in front of you. Not collectively from previous sessions or running tallies, etc.

Third. Again in my opinion the Drawdown must not be viewed and compared to previous Drawdowns either. The presentments are different and there is no reason to compare. You have to remember Drawdowns fluctuate and will always fluctuate with no rhythm and no reason to attempt to define anything more than what I just said. They are completely random and will always be random.

Fourth.  Emotions, pressure and other feelings will be triggered within yourself that will not and cannot be avoided. You tell yourself you will not let the pressure and anything else get to you, but it will. The larger the Drawdown the greater and more intense those feelings will be. Be ultra conscious of that, stop getting sucked in.

Fifth.  Do not confuse Drawdown with Stop-Loss. Many will fail to see the difference but there really is. Drawdown is an undetermined, unplanned amount of money that will be lost before you realize a profit that is within your horizon of, "winning this session and it is time for me to stop", thought and belief. A better way to describe it is, you realize your buy in is your risk money and you will play until you win or lose and you are not doing what some people do, which is ridiculously sit down say with $1,000 and if you lose $300 you're done. Or if you lose say 3 or 5 wagers, your done, etc.  All that does is put an undue amount of pressure on you, because you have money there you are saying you're not willing to wager and you cannot wager and you have to make money on a certain percentage of it. Trust me it's a huge negative in sitting down at the table.

Stop Loss is simply like I said, a set amount of money if you lose out of your buy in money you will stop playing, no leeway, no questions asked.  That is if it's truly a set Stop Loss amount.

Realize that there will be fluctuating Drawdowns at any time prior to winning a decent amount of money or getting a profit, that you had in mind and one that you have to risk on a continual basis. Allow it to be so and you will take off a lot of pressure and a lot of frustration from your frame of mind in handling your money at the table.

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