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Ricard01
11 Jan 12 00:05
Joined:
Date Joined: 16 Jan 11
| Topic/replies: 79 | Blogger: Ricard01's blog
As the title says I've just lost a few quid.My bank was at a nice level.

Tomorrow I'll play slow and only bet when sure I'm backing way above value (imo) I'll keep this up for a period of time.I'll build the bank up again sticking to betting selections I think are way above their true price and level staking small %'s. That is the easy bit.

Once the bank grows again is when the danger sets in.When the bank gets back up to a comfortable level complacency kicks in.Lack of concentration whatever it is.I'm at my worst when the hard work has been done.

I genuinely as much as I humanly can, know I will show a profit over the next few days because I will be in the right frame of mind, 100 % focussed.I am however just as likely to blow some of it again further down the line once that concentration goes when the bank grows.

My question to anyone who makes money long term on here is how do you manage to keep that level of focus and consistency up at all times? What gives you that drive long term that I only seem to have for short periods?
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Report xmoneyx • January 11, 2012 12:06 AM GMT
thats my prob---thats why i stopped poker
Report Ricard01 • January 11, 2012 12:09 AM GMT
I should add that I built my bank up using 1% stakes over 1000's of bets so I never just had a lucky start.
The complacency only ever comes in once the bank is high enough for me to feel comfortable.That is when the concentration seems to go.
Report Cooee • January 11, 2012 1:19 AM GMT
Have you tried withdrawing some of the money as your pot grows bigger? You presumably know how many losing bets would count as a 'bad run'. So leave yourself only enough money in the account so that you can have a moderately bad run - but no more.  That way, most of your funds should be protected, and when you do start to lose focus, you'll only be losing a portion of your money. You'll then get the wake-up call you need, and you'll presumably start to take it carefully again?
Report Trevh • January 11, 2012 1:29 AM GMT
Ricard, do you withdraw every week? Because you haven't actually made anything until it's out of BF and into your bank account.

It sounds like you know what you're doing, but I don't really understand how you can blow most of the bank if you're betting methodically to 1% liability, are you saying that as the bank gets larger you increase your liability per bet to say 10/20/30% + and lose control of your methodology?

If so I'm guessing you already know the answer to your question, you just have to be more strict and follow your plan no matter what, build the bank up in stages and withdraw regularly - I think withdrawing every week is very important to morale, who wants to sit here all week for no reward?

My own method is to use strict staking (0.2% per stake) but I also withdraw at the end of every week half of anything above the starting bank. I keep the same starting bank for around 3 months at a time, then withdraw less for a few weeks to build up to a new higher bank. It works really well for me, and smooths withdrawals to be as consistent as possible, instead of withdrawing all the week's profit one week and perhaps having nothing the next.

For example:

10k bank: week's profit 500: withdrawal 250: temporary bank 10,250.
10k bank: week's profit 950: withdrawal 600: temp bank 10,600.
10k bank: week's profit -200: withdrawal 200: temp bank 10,200.
10k bank: week's profit 1000: withdrawal 600: temp bank 10,600.
10k bank: week's profit 800: withdrawal: 700: temp bank 10,700.

I think it's pyschologically advantageous because there's less chance of seeing the bank drop below the 10k starting bank as it would have in the example above, and the withdrawals are smoothed in comparison to withdrawing each week's profit in full and having no wages on losing weeks. :)
Report Lori • January 11, 2012 12:23 PM GMT
What gives you that drive long term that I only seem to have for short periods?

I'm not going to put all that work into finding ways to make a profit and not have them proved to be correct. I owe it to the time and work I put in previously not to knacker it up.

If it's getting boring, then it's time to look even deeper and find some extra edge again.
Report Ricard01 • January 11, 2012 5:16 PM GMT
Tried that Cooee and it does work the withdrawing the only thing there is I then feel restricted to push the submit button sometimes where as if I have a 100% bank so to speak I'm happy to bet the bigger prices knowing that my bank can take the losing runs until the winner comes along.With a smaller bank I'm sometimes scared to push the back button and there for tend to miss some big priced winners but I do know what your saying and its a bit of a catch 22.

I do like your idea Trevh of withdrawing half of anything over the starting balance at the end of the week with maybe the option of having set stages and increasing the stakes when each level reached.Will try that.

ex.stage1 £1000 = £10 bets - stage2 £2000 = £20 bets and so on.Maybe this will keep the concentration aiming for a goal all the time rather than having nothing to aim for?


When I blow large chunks of my bank its not betting 1%'s sometimes its not even betting where I feel I have my edge its over staking in other markets. (Mug I know)

Why then is it that while I'm bank building I never stray to other markets or over stake? Its only when I get there I don't know what to do.

There is also some days I know before I even switch the computer on I'm going to play well.Not necessarily win but make good choices.That is all I can ask for but there are other days that I know before the computer goes on that this is either going to go one way or another meaning I'm either going to stray and get lucky or end up doing a right few quid.Today I was tired and never felt confident so left the computer switched off.I done the right thing, probably because the bank is low.Now had the bank been what it was a couple of days ago I more than likely would've switched the computer on and had one of they days where anything could happen.Far too risky they days.

I like your thinking as well Lori.You seem to have your priorities in place.If we were all able to put they priorities into practice it would make this game a lot easier! Unfortunately just now I seem to have the attention span of a goldfish when things are going well
Report Cooee • January 11, 2012 8:50 PM GMT
I often have periods of a few days when I'm not really on form. I don't risk much per day though, so generally I'll only lose a bit of my bank, even I have a few duff days in a row. Usually, at that point, I'll get angry with myself and start playing properly again. And once I've got the juice flowing once more, it'll generally only take me a couple of days or so to make up any losses. I couldn't imagine wiping out most of my bank simply because I wasn't concentrating enough.

I do find that my focus goes every now and again, and I start becoming looser and playing the odd bet I know isn't providing me with that all-important value. However, I can usually fix this by, every few weeks or so, setting aside an afternoon or a whole day, and spending several hours going through  through past performances, simply trying to pick winning bets. That helps remind me exactly what it is I should be looking for in a race before playing it.
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