Money Management
Just the fact that the original poster, MJ1 is looking at this seriously and realizes that money management is as equally important and critical as the counting method is significant and reassuring. In my eyes, he is destined to be a winner!
Years ago, I was a corporate type with a very large replenishable bankroll so I played very differently than I do today! I operated at a 5-10% ROR of what I tossed out there specifically for blackjack and thought nothing of it, playing essentially "part time". I had overall phenomenal success and never "sweated" any losses along the way. Money management ALWAYS comes into play but there is in fact a huge difference when you are operating on a replenishable bankroll and have multiple sources of investments and income.
I have long since retired at an early, unheard of age to retire at having done quite well in the big picture. I began playing blackjack full time at that point and there is a HUGE difference in the way I started playing at that point, wanting a zero or near zero ROR. My bet size went way down and what I deemed to be an appropriate "standard bankroll" went way up. I am intentionally leaving out specific numbers and sticking with generalizations to avoid putting too much personal information on a public message board but you get the idea. I have played much differently, still successfully with smaller bet sizing, while still using essentially the same spread and tactics making it about impossible for me to bust out and go broke.
Something I wrote in a private note to someone went sort of like this:
Sometimes it scares the heck out of me to see someone say,” I just started learning to play and count cards about two weeks ago and so I am going to risk the sum total of my meager savings at this since I just lost my job... what can you guys tell me for pointers to make sure I win?" (Or nearly the equivalent of a whacky statement like that).
How often do you see,” Well, I have been perfecting a strategy for the last several years to include an advanced count, aspects of clump tracking, side counts and have compiled a huge amount of data on Sims, ROR and money management principles. I have run very successful trials at low minimums under a variety of actual casino conditions and am gauging that approximately 1/2 a million should keep my lifetime ROR to less than 1% if I play it right and I will still be quite profitable." TONS of posts like this from new players, right? WRONG! Hahaha They say stuff like in the first paragraph of this message and it really is scary.
I write the things I write because I see what happens to people on a daily basis. I write things that I HOPE people will look at and say "Am I sure about this and properly prepared?" How many times during the course of your day do you see idiotic behavior at the casino (made by people who can't afford to even BE at a casino as far as I can tell). You expect the typical gambler to lose but you also expect someone that is an aspiring advantage player to lose from being ill prepared and going off half-cocked, unfortunately. I guess it is worth it to me to go off topic and be chastised for it if it helps an aspiring player be a bit more careful and take more time to a better player with this making the difference between them being a success and them busting out and failing miserably leading to their financial ruin.
ZenGrifter mentions paying attention to the sims but looking at your personal financial capability and making the most rational decision that insures your financial security since a computer sim is a generalization not neccessarily catered to each and every individual and he's right.
Flash is a great guy to go to for hard statistical data and can go on for hours and provide quality references on different theories and formulas on ROR that come from leading experts. He does not have the sort of bankroll he operates on because he is a dummie!
Money management and weighing out the stretch between "cautious" compared to "optimistic" comes into play in every major financial decision in our lives, not just playing blackjack and is the reason I am at the very comfortable point that I am at in my life. Diversification of income, investments and assets combined with logical, rational choices will make you a winner!
