Tried-and-True Money Casino Gambling Management Techniques
I agree with most of the authors' suggestions.
re: Stop Loss and Stop Win.
Stop Loss:
Personally, I do not rebuy into the same shoe after busting a buyin. I do go get another buyin but will select a different shoe, go to different casino, maybe take a restroom break/walk around 15-20mins,...etc.
What is interesting is when I bust a buyin it seems I will bust another within a few shoes or days and often that second bust in close proximity will have a Net-(i.e., meaning it had not earned itself once).
Recently I had gone about 9 weeks without busting my buyin(very long for me). It busted and a short time later( a couple days later) it busted again with only a 19% win of itself. Most busts that are Net- I seem to at least have profits of 60%--80% prior to bust.
Stop Win: Personally I do not think we should have a Stop Win. Simply implement a trailing loss (similar to investing in a stock or precious metals,..etc). One never knows how long the current winning trend will last(shoes, days, weeks, months,..etc).
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Thanks for the reminder!
Along with the no stop-win policy, it's worth remembering how much small wins can compound over time, too.
(Continued success stacks up when compounding)
Cheers! 🥂
Good thoughts VLS. "it's worth remembering how much small wins can compound over time, too..."
A tiny compounding increment can really get the snow ball rolling downhill. One can find alot of good intel on compounding by studying Euler(or just thoroughly examine ones properties' amortization schedule).
In my opinion one should utilize some form of compounding in every thing we do at the tables. I compound every winning wager(sometimes not very much). We never know if our winning streak will occur (X current wager placement/immediate W streak , X shoe section, x shoe, X the day, or x the week, month,...etc).
Thx VLS as I always value your thoughts(especially on MM and bet sizing). I wish you had more time to comment more often as you have a lot of expertise. I've read alot on your roulette site.
May the wind be at your back throughout the new year,kfb