Theoretical Vs. Practical Reality Knowledge
Let me make it clear and state it right away. Practical Knowledge is superior to theoretical gambling knowledge and as well, Practical Knowledge is incredibly important to any career and life in general. Whether gambling, a non-related gambling career as well as life in general, all three of them, cannot and will not excel in Theoretical Knowledge only.
With that said. When it comes to the knowledge we all possess, use, govern ourselves, base decisions on and everything else related to those, there are different kinds and different ways. On one side there is the theory way and on the other side, there is the practical application of that same side of theory. There are distinct sides to each one, don't become confused with the oversimplification of the way so many attempt to streamline theoretical and reduce it to scheduled and reoccurring events. That is salesmanship and intelligence modification that many fall prey to and become convinced of fallacy, lies, twisted truths, manipulated wishes, etc.
But there is a theoretical side to gambling and baccarat play that used in the correct context can certainly add ammunition and tool box knowledge to the holder. Such as, 'why' things happen, 'how come' things happened, and countless techniques that could succeed or likewise, might very well fail. But no theory and I stress, not a single one, can succeed over and over with continuous redundancy the way so many seek, attempt to sell or wish for. That is the key to understand reality with this subject.
So what is theoretical knowledge good for? IMO, it is good for building your context of all the subject involved within gambling as well as baccarat. You should have the context in order to set you strategy or at least know, where and how to proceed within the game when you are involved in it. You can use theory to accomplish that, learning from the experience, trails, efforts, writings of others mixed with your own interpretation of those into some kind of viable fuel that you can implement.
If the theoretical end of it all leads you to a deeper and more thorough understanding as to the 'why' behind it all, then you are well on a great path to better success than the uninformed person would be.
Now, the Practical Knowledge, is the tougher one. The practical end of baccarat play has to come from the actual gambling itself. There is no two ways about it. You will gain the specific techniques that will become, for simplicity sake here, your tools of the trade. Keep separate but conscious of, theory being the ideal end of it and/or the reasoning behind it all. The practical end of it, being the outcome and the actual varying events without restriction or guidance to the theory end of it all. Do not fall prey to the biggest common mistake by most gamblers, which is convincing yourself that the theory end of it has to happen in any certain order or timing.
Both are extremely important, but without each other, you won't survive. Theory cannot always be present and theory might continually present itself in different and varying ways. That is where your practical knowledge will take over and apply a more specific solution or decision to what you are faced with in the game of baccarat. It is a game, it is not a puzzle to be solved, and there are not definitive solutions.
You have to mix the theoretical side of it with the practical side of the same thing. The goal you need to focus on, is getting both ends of the spectrum to meet the majority of the times.