bankroll losses?

[blackchipjim]

I was talking to a few fellows who gamble alot and the question of taking a break after a big loss came up. These guys know that I play on fairly regular basis and asked what do I do after getting my butt kicked in.
I told them that I set up loss limts on my bankroll so I don't really get my butt kicked that bad. I set up my loss limits in response to something I did awhile back and won't due again which is chase my losses.
I read alot about styles of playing and other related issues of playing bj to our advantage but sometimes not enough of about stopping when we are consistently losing or on a downturn. It would be interesting to alot of new players if some stories are related to other about the avoidance of sudden losses. blackhchipjim

 

[creeping panther]

Jim

I was talking to a few fellows who gamble alot and the question of taking a break after a big loss came up. These guys know that I play on fairly regular basis and asked what do I do after getting my butt kicked in.
I told them that I set up loss limts on my bankroll so I don't really get my butt kicked that bad. I set up my loss limits in response to something I did awhile back and won't due again which is chase my losses.
I read alot about styles of playing and other related issues of playing bj to our advantage but sometimes not enough of about stopping when we are consistently losing or on a downturn. It would be interesting to alot of new players if some stories are related to other about the avoidance of sudden losses. blackhchipjim

You are a smart man.

CP

 

[kewljason]

I was talking to a few fellows who gamble alot and the question of taking a break after a big loss came up. These guys know that I play on fairly regular basis and asked what do I do after getting my butt kicked in.
I told them that I set up loss limts on my bankroll so I don't really get my butt kicked that bad. I set up my loss limits in response to something I did awhile back and won't due again which is chase my losses.
I read alot about styles of playing and other related issues of playing bj to our advantage but sometimes not enough of about stopping when we are consistently losing or on a downturn. It would be interesting to alot of new players if some stories are related to other about the avoidance of sudden losses. blackhchipjim

Very interesting, jim. I set my stop limits based on time, whether I am tired, heat that I'm receiving and if I am still playing a profitable game. I personally have never understood loss or win limits based on money or units won or lost. I guess the exception would be if you lost your trip bankroll.

My thinking is that if you are in the midst of some bad variance, it is just as likely to continue after a week or months break as the next hand, and I can't afford to not play for any long period of time. As long as I am still playing disciplined and under control and continue to play a positive game, I know that sometime in the future things will turn. It's just a mathematical fact. Now I'm not sure when you talk about formerly chasing losses, if you mean not playing your usual disciplined game and betting more than you should. That would be a completely different circumstance. Any time you feel you have lost control, you should take a break.

I am curious as to whether you stop immediately when hitting such a limit? meaning will you walk away from a positive count?

I have been very lucky as I have had only had a handful of what I consider severe losses in a day or even over several days, and all but one time I have encountered extreme positive variance to counter these losses within a short time. Usually within a few days, one time a couple weeks later.

 

[blackchipjim]

limits

I wonder really how many players that visit this site do have limits. We read where a player losses his entire bankroll then ponders what went wrong. I think alot of new players bet the farm telling themselves that math says it will equate to winning.
I have sat a many a table that was running the house but the count did't justify upping the bet. To sit at such a table takes enormous dicipline and not jump it up a little. At times like these I may jump a chip up or two to blend in with the winners.
I have also sat at many a tables when the tide turned the big winners into big losers and me sitting with my humble stack ready for the good counts to show. I have come to term this longevity at the table hence your stop loss limits. blackchipjim

 

[sagefr0g]

I wonder really how many players that visit this site do have limits. We read where a player losses his entire bankroll then ponders what went wrong. I think alot of new players bet the farm telling themselves that math says it will equate to winning.
I have sat a many a table that was running the house but the count did't justify upping the bet. To sit at such a table takes enormous dicipline and not jump it up a little. At times like these I may jump a chip up or two to blend in with the winners.
I have also sat at many a tables when the tide turned the big winners into big losers and me sitting with my humble stack ready for the good counts to show. I have come to term this longevity at the table hence your stop loss limits. blackchipjim

voodoo, ok here? lol, oh well i'll try this post.

me, i do a lot of stuff that's not by the orthodox counter's manual, lol. i try and use the knowledge i have about the game to fiddle around and try and win some money.

but, i'm not tempted in the slightest when i see my table mates winning big in a negative count. i just get jealous as hell, lmao.

but as far as stop loss, mainly my trip roll is my stop loss for any given days play. no trips to the atm for me, lol. i'm a recreational player, out to have fun, learn and hopefully either break even or win a bit of loot, if i lose my meager trip roll, well that's it for me for that day.

but my voodoo is well, i do have goals, stop win and stop loss, with a caveat.
like my normal idea for a days play is about a three hours attack, maybe six hour attack if i have a room. i emphasize the word attack and not actual play time. so ok, i can easy know what expectation and standard deviations sort of stuff that might happen for not me, but for the most perfect card counter in the world that plays all, circa 100 hands per hour for say the hours of my 'attack'. additionally i know the expectation and standard deviations a flat betting basic strategy player might have for various hours of play. if you look at it, there is a sort of by comparison overlap for positive standard deviation of a flat betting basic strategy player and expectation and standard deviation of a perfect card counter for some given number of hands.

see, me, i can only just tolerate counting maybe a series of one, two maybe or three maybe shoes (six deck) and then i need to rest, lol.
what ever, but on this stop win and stop loss caveat, what i do is if i win as much as the expectation, some number of hands (say 100, 200 or 300hands) as a perfect card counter, i'll at least take a break, play some penny video poker, or maybe even a penny slot, just to take a break and have some fun and a change of pace. if i get so lucky as to hit positive one standard deviation for the perfect card counter or maybe the expectation that counter has for the number of hours of my attack, i might probably be done for the day, lol. voodoo, i know.

ok, so if i'm counting and i end up losing say the amount of expectation (maybe a bit more) that a perfect card counter might win over that many hands, what i might do is just flat bet basic strategy for a while and hope for some positive fluctuation. what ever, the fluctuation involved in just playing basic strategy will often enough (not always) put me back even or maybe close to even. if that happens i'll resume counting and using a bet ramp and spread again, hoping for the best. but the flat betting just playing basic strategy thing, it's not like i'll just keep playing that way, hoping for positive fluctuation, eventually if it doesn't happen the way i'm hoping, i'll probably take another stab at counting with a bet spread and ramp, again hoping for the best. (edit: oh yeah, and when i'm just flat betting basic strategy, i'll be doing that fuzzy count voodoo stuff of mine and maybe take a gamble on a raised bet if i think it's a good time)

so i guess this is the sort of thing your asking about, sorry for the voodoo examples i gave. :whip:

 

[tfg]

Knowing that it's just not your night is very important I believe. I definately set a certain amount that if I'm down to I won't buy back in if I drop to that point. I just call it a night and start again another day. Chasing losses is what separates good players from bad I believe. Sometimes after a few shoes of getting my ass kicked, my goal changes from trying to win that night, to just getting out of there being down a reasonable amount.

 

[hawkeye]

I take 20-40 units to the casino. I go there willing to lose it all. If I double my buy-in, I stash the orig amount and play with the winnings. If I double that, aka up 3x buy-in total, I walk.