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Beat me to it Pinza!
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King
Two heads are better than one, especially when they come to same conclusion. |
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Hi Bazalini,
Having had a read through your thread from last year it seems you have a very good idea/feel about making the right selections but little discipline in terms of your staking plan. You risk a large % of your bank on bets. I guess from the way you bet you must have some idea of what you feel represents value in a bet even if you cannot define how much value there is. Given the way that you seem to bet from the limited information available i think you will be best suited by going down a daily withdrawal method. Work out how much you want to win and what sort of bank you want to achieve this with and stick to those limits. Judging by the way you bet you would be best depositing and withdrawing on a daily basis. ie, put $500 in each morning and take out what ever is in the account at the end of the day, wether that is a loss or not. the next day restart with $500 etc, etc, This will limit your bad days and prevent chasing and should keep your bets in the region you are mentally happy working in. If you also tend to** money on stupid bets then open a second account for 'gambling' and keep your main account for making your serious bets. Assuming you still want to make the returns mentioned on the other thread ($100k p.a. and a 30% increase per day) you could use a daily deposit of $1500. Once you have increased the bank by $500 stop and withdraw then start again tomorrow with $1500. This would give you $100k in 200 days and gives you a reasonable target given the way you bet. If you really struggle with discipline get someone else involved and make yourself accountable to them for each days performance, it helps if this person understands/approves of gambling though!! Good luck |
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Thanks for that Reply- RitzyDelandro. Much apreciate the time gone into that.
You seem to have a handle on it. I do withdraw but I feel I am wasting money when I withdraw.Taking a £2k back down to £200 means a £50 win is not £500. Its something I need to get my head around. I have decided to make it to £5k slowly and withdraw. I have about 5 streadsheets on the go and added a new rules. If I lose 20% of my account I close my betting down for the day. |
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Pinza, KotD and Sevey again thanks for the replies.
As I said I'm going to make it to £5k slowly and then come back here and see what I'll do. Have withdrawn all my bank now so it is sitting at £1k. |
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BAZZA thanks and good luck
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on your last point baz re: 20% stop loss, i would tend to make it more like 5%
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A day is a crazily short timeframe, imo. A rational decision to stop can't possibly be reached in terms of only one day's activity. More like 3 months, imo.
I know few will agree with me but if there's one thing I think is plain wrong thinking it's to measure these things in terms of one day. There, I've said my piece. |
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Less is More
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I haven't brought this back up to mock you Baz it just seems you have never resolved your previous problems and continue to make the same mistakes. It seems you suffer when you get out of your comfort zone so just stay within it.
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I'll take on board, but a year ago I was very much looking at my staking patterns and why I found making money when I had a small bank easy...
I've worked on that and find I am comfortable with what I have changed... I now need to examine my mental approach to why I chase small bets.. |
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It's an ego thing. The thought that you got it wrong, and your balance has decreased because of this, plays on your mind and makes your head tell you that you're too good for for that and so you place a random bet to get it back plus the profit you think you should have had for the unsuccessful bet leading to the chase.
If you know you are successful over the long term make your balance invisible, difficult if you follow certain staking plans i know, and check on a weekly basis. |
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Makes an awful lot of sense tbh...
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How is The Tank Now Bazza?
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Grand Sevy - Changed alot of things.... Think I have had to put more value on what exactly money is...
Sometimes you think you can be playing with Monopoly money... Someof the stuff that was said here - has certainly helped... Now concerned with my mental approach to chasing fecking small bets... I had a £5 bet on Sporting the other night and I was livid with the goal in the last second. I then went and placed a bigger bet then normal on another football game I had no clue on. (Corinthians).. My bank account is sitting at £8k so a fecking £5 bet shouldn't make me do that but it did.. But then I can tell you about the £400 Bet on Villa on Sunday (5% of bank - which made me chase that on Sunday with 4 further sh!t bets which saw me lose £1600) - That is something I need to rid... |
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Losing is the hardest thing to come to terms with, we all want to / expect to win and end the day with more than we started with. Doesn't always happen, how you deal with that is key. i.e. bigger picture. Also you may find that when you get a nice bank built up you will find it easier to throw a 50 or 100 at something knowing you have that bank to fall back on. Would have backed that selection if it was your last tenner. You are at your most vulnerable after a win, elements of greed take over.
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Bazza 8k was a nice bank nobody cant stop people doing what they want to do take the foot off the gaz a bit 5% of 8 k a week would be nice wages in some peoples mind take care & good luck
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Sorry I am a time waster so will not reply
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