Monday, December 3, 2007

Week 13 - 2000% return - A gambler's perspective

Let me just say, from a gambler's mentality, the key to your 2000% return is having the balls to continue to raise your ante each week. It's completely the way to do it, and if this works out going forward, I want in on the IPO.

Keep in mind there are going to be cold streaks, and the gambling discipline comes during the bad times. You can't get cold and then reduce your ante, because anything you win will only chip away at your losses. This is precisely what I did this year. I was betting $50/week when I was losing, and the past 4 weeks I've been winning but only betting $25/week, giving me no chance to recoup my losses. I'm doing this to avoid going bankrupt prior to the end of the season, which will work. But it's terrible gambling technique.

1 comment:

Matty and the Box said...

yeah, i totally agree. i did the same thing - when the going gets tough, i pussed out. i need to stick to the system. i set it up so that i never bet more than 33% of the bankroll anyway, so if i have a massive down week, i'm still ok. i may want to adjust that number, i'm just not sure how to systematically suggest how much to bet. any ideas?