Mikeaber
Well-Known Member
I guess this is a bit of a confession and sort of embarrassing. I find that when I get on a cash table that I get really caught up in the action. I do not pay a lot of attention to my chip stack. Sometimes I win and sometimes I loose but it seems that if I really get into it for hours, that whatever I start out with often dwindles to nothing.
Some sort of "money management" needs to be employed to control losses. I underscore the point here that what I am thinking about is not a streak betting strategy but rather a "caution flag" to remind me what's happening.
Let's say that we are NOT counting. Betting Strategies do not usually coincide with Card Counting. Okay, straight flat betting or whatever.....but Basic Strategy all the way.
Start out with $100 and plan on making $5 bets. Let's pick some arbitrary amount as a cap loss....call it $25 Playing Double Deck. Start out the first shuffle with $25 as your chip stack though your BR is $100. If you loose that $25...WALK. If you loose $10 in the first shuffle, then you start the second shuffle with only $15. When you loose that $15....WALK. Go play some Video Poker or take a nap and come back later or go to another table. When you resume, you start the cycle over again with a BR of $75 and a chipstack of $25.
How bout if you win? I see that scenairo playing out as follows starting with $100 BR and $25 in your betting stack:
You loose $10 on the first shuffle.
Start the second shuffle with $15 and win $15. You now have a betting stack of $30.
You've comitted $25 to the trial at the table but now you have won a little. So, instead of starting the next shuffle off with $25, you start it with $30. If in consecutive shuffles you happen to exhaust your winnings and your $25, you WALK!
However, if you continue to increase your winnings in consecutive shuffles, you risk all that you've won plus the original $25 UNITIL you reach a winning amount in excess of the original $25 of $50. You now have a bankroll $100 plus $50 in win. At this point, you put your original $25 back into your bankroll and work just with the $50 you've won.
From this point on, I think that I'll risk the entire $50 before walking. Each time I accumulate an additional $25, I "bank it." When I finally loose the $50 then I WALK. When I return, I start out with the original $100 BR and start the cycle all over. Note that hopefully, I'll have rat-holed several green chips along the way above and beyond the original $100.
I note that using this money management strategy has nothing to do with "streak betting" such as is employed by Martingale or Dahl to captalize on streaks of wins or losses. It is strictly a way to send up a "red flag" to tell me to get the hell away from the table before I blow it all in one session!
The downfall I see to this is that often, you will start out a shuffle loosing more than you win but that it turns around before the end of the shuffle. When this happens, you might loose the $25 to start with and not get the chance to benefit from the end of the shuffle. Sometimes it goes the other way and you win early. What I am trying to do is eliminate those sessions where you get wipped out in a hurry or the ones where you are steadily but slowly loosing.
The amounts might need to change. Instead of a starting cap of $25, maybe it should be $50....I haven't tried it in practice to see how it goes and my streak betting simulator cannot be set up to accomodate this type strategy.
I would like to hear comments from others on this.
Some sort of "money management" needs to be employed to control losses. I underscore the point here that what I am thinking about is not a streak betting strategy but rather a "caution flag" to remind me what's happening.
Let's say that we are NOT counting. Betting Strategies do not usually coincide with Card Counting. Okay, straight flat betting or whatever.....but Basic Strategy all the way.
Start out with $100 and plan on making $5 bets. Let's pick some arbitrary amount as a cap loss....call it $25 Playing Double Deck. Start out the first shuffle with $25 as your chip stack though your BR is $100. If you loose that $25...WALK. If you loose $10 in the first shuffle, then you start the second shuffle with only $15. When you loose that $15....WALK. Go play some Video Poker or take a nap and come back later or go to another table. When you resume, you start the cycle over again with a BR of $75 and a chipstack of $25.
How bout if you win? I see that scenairo playing out as follows starting with $100 BR and $25 in your betting stack:
You loose $10 on the first shuffle.
Start the second shuffle with $15 and win $15. You now have a betting stack of $30.
You've comitted $25 to the trial at the table but now you have won a little. So, instead of starting the next shuffle off with $25, you start it with $30. If in consecutive shuffles you happen to exhaust your winnings and your $25, you WALK!
However, if you continue to increase your winnings in consecutive shuffles, you risk all that you've won plus the original $25 UNITIL you reach a winning amount in excess of the original $25 of $50. You now have a bankroll $100 plus $50 in win. At this point, you put your original $25 back into your bankroll and work just with the $50 you've won.
From this point on, I think that I'll risk the entire $50 before walking. Each time I accumulate an additional $25, I "bank it." When I finally loose the $50 then I WALK. When I return, I start out with the original $100 BR and start the cycle all over. Note that hopefully, I'll have rat-holed several green chips along the way above and beyond the original $100.
I note that using this money management strategy has nothing to do with "streak betting" such as is employed by Martingale or Dahl to captalize on streaks of wins or losses. It is strictly a way to send up a "red flag" to tell me to get the hell away from the table before I blow it all in one session!
The downfall I see to this is that often, you will start out a shuffle loosing more than you win but that it turns around before the end of the shuffle. When this happens, you might loose the $25 to start with and not get the chance to benefit from the end of the shuffle. Sometimes it goes the other way and you win early. What I am trying to do is eliminate those sessions where you get wipped out in a hurry or the ones where you are steadily but slowly loosing.
The amounts might need to change. Instead of a starting cap of $25, maybe it should be $50....I haven't tried it in practice to see how it goes and my streak betting simulator cannot be set up to accomodate this type strategy.
I would like to hear comments from others on this.