Any system is not a loser. It depends on the money management. Each session with any number of spins (eg 42, 67, 112), has to have a win goal and a stop loss. The problem is finding the loss and goal.
Take backing a single number, just an example.
Stop loss 36 units.
Win goal 18 units.
To show a profit session wins of at least 2/1 has to be achived.
Or it could be:
Stop loss 24 units.
Win goal 18 units.
Take backing the last 18 numbers, just another example.
Stop loss 180 units.
Win goal 90 units. Again at least 2/1 is needed
The HG is not the mechanical system. It is the money management.
Geoff, your post makes perfect sense.
Each session then represents a complete "transaction". In the end we have to think like the casino: long-term.
As players, we accept we can't win every session. Our only concern must be to AVERAGE more $ won than lost. With our hit ratio being at or below what probability dictates. Me, Manrique and every other money manager is with you: what makes the difference is how much is bet when you are on a winning run (win the most when winning) and how little it is laid on a losing run (lose less when clearly losing).
This post is Gambling framework material.
Thanks for making it.
Regards.
Victor
Quote from: geoff365 on December 31, 2008, 05:11:04 PMThe HG is not the mechanical system. It is the money management.
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Quote from: VLSroulette on January 01, 2009, 10:53:09 PMEach session then represents a complete "transaction". In the end we have to think like the casino: long-term.
As players, we accept we can't win every session. Our only concern must be to AVERAGE more $ won than lost. With our hit ratio being at or below what probability dictates. Me, Manrique and every other money manager is with you: what makes the difference is how much is bet when you are on a winning run (win the most when winning) and how little it is laid on a losing run (lose less when clearly losing).
Victor and Geoff,
I truly couldn't agree more with what you said.
This somehow reminded me of Manriques's wise words:
"Only proper bankroll management can allow you to face better or worse every possible situation."
"It is about a playing methodology but also perseverance, patience and coldness; this means an impeccable conduct and taking it just like work."Best regards,
Marven