Stop Loss and Stop Wins

[alrelax]

As Kungfubac wrote in another post, I will quote:

"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)."

https://www.888casino.com/blog/gambling-management-tchniques

VERY IMPORTANT SUBJECT TO ME AND I BELIEVE OTHERS.  I SPENT THE TIME TO OUTLINE AND CONDENSE MY LONG DRAWN OUT THOUGHTS INTO THE FOLLOWING:

Stop Loss. It is an easy definitive stopping event for myself. If I lose my buy-in, I am done for the session. Not to restart after a break, not to go get additional funds or restart once again. I know my limits and I know my risk limits. If I lost, I lost. My reasoning is, if I lost the buy-in, I would be stuck in a recovery mode to recoup the lost funds and for myself, that only favors the casino 95 times or so out of 100. I've learned this from the past four (4) decades of play I have participated in.

Stop Win. Lots of opinions written on lots of forums and broadcast on countless videos on the Internet. Believe what you want, but I know one thing for certain, most wins are shown or written about and losses are not.

I have a few different items I use to determine how much of a win I should walk with. I am pretty strict with my ultimate decision when a session turns winning and when to enter my 'Stop Win' event mode.

If I wound up into a winning session which I determine by at least doubling my buy-in risk capital, at that point I generally enter my 1/3rd-1/3rd-1/3rd status of play. I have talked about this extensively on the forum here. It is a critical part of my M.M.M.  (I and numerous others within my circle of player friends have become better players because of this alone).

My buy-in capital will be removed and locked up as well as either 1/3rd or 2/3rds of my 1/3rd-1/3rd-1/3rd win division of funds. I will continue my play with at least 1/3 rd of those, or perhaps 2/3rds. This will depend on several factors of how easy or difficult it was to get to that point, which I'm not going to discuss here because those are specific to each session.

If I continue to win wagers while staying within 1/3rd to 1/2 of the win as my wagering capital, I will then enter 'set-asides', which I value and respect  differently than the 1/3rd-1/3rd-1/3rds.  Bottom line is, my protocols on a stop win will be dependent upon how much and how quick I continue winning, and/or the opposite.

So, am I just going to hit my trigger, which is doubling my buy-in and then employing a stop win?  No, of course not! However, I found a very comfortable, satisfying and proven implementation of strategies that allow me to continue playing/winning or walk away and end the session with complete satisfaction that I did the best I could have done and not have that feeling or desire to walk back after I cashed out.

Those are my Stop Win and Stop Loss thoughts and rules.