Guys,
In relation to this topic nolinks://vlsroulette.com/general-board/food-for-thought-holy-grail/ (nolinks://vlsroulette.com/general-board/food-for-thought-holy-grail/) (please read). I'm looking for the best way to increase your BR with 1% per day.
What would be the best bet or bets? When we lose, what is the safest way to recover?
Thank you in advance for sharing ideas.
J
I think a good bet would be a bet Matty here played (if I remember correct). I don't know if this is the way Mat played but here it goes:
Wait for a DS to his twice, than bet the 5 unhit streets.
When we start with 100,- we bet 5 streets 1,-.
If we win we have 5 - 4 = +1 profit.
100 + 1% = 101,-
What if the bet is lost............
Hi JHM,
Mate, at the risk of sounding negative, I need to first ask you: do you realize that playing 1 bet each day for one year is the same thing as playing 365 bets in one session, don't you?
Asking for this safe bet is the same as asking for the grail, i.e. a consistent winning bet mate.
The period of time across which you play your bet doesn't change the end result of your bet. So playing 1 bet every month for 4 years is the same as sitting at the casino and playing a session of 192 spins placing a bet every 4 spins, which is the same as playing a 48 session betting every spin.
But I see where you're coming from.
My point is that if you can find yourself a bet that guarantees a profit of 1% of your BR every session, then you're not obliged to play one session per day, you can play 10 sessions and win 10% per day. Finding this safe bet directly means finding the grail.
Ok now having said that, I am definitely keeping an open mind and would be looking forward to any ideas.
I believe this can (sooner or later) be achieved, be it on a personal, or even better on a collective level. We humans have achieved miracles since the beginning of history and won't stay forever beaten by a silly wheel. :)
Regards,
Marven
Marven,
If I understand your post above right, the whole 1% per day post doesn't make sense. Because it does not matter if you play to increase 1% per day or just visit a casino with your BR. Try to make 1% and continue to play to make another 1% on top of that and just don't leave the casino for how long you want to play.
I don't agree with you and I don't disagree, how you like that 8)
I hope Marven's post didn't scare the other members (knowing this would never be my friend Marvens intention).
Please help me brainstorming, I would like to risk that 100,- as an experiment :)
Quote from: JHM on January 05, 2009, 06:46:59 PM
I think a good bet would be a bet Matty here played (if I remember correct). I don't know if this is the way Mat played but here it goes:
If I remember correctly, Matty was playing the 5 Lines using the Lw. I'm playing this.
I think with proper strategy play, 1% is pretty achievable. It needs patience though especially when you lose and have to recover.
----------------------
Quote from: JHM on January 05, 2009, 07:08:15 PMI hope Marven's post didn't scare the other members (knowing this would never be my friend Marvens intention).
Please help me brainstorming, I would like to risk that 100,- as an experiment :)
Ok here is what I do, and here is my practical contribution to this thread for my mate JHM, and for everyone reading this nice thread:
The Bet selections:Actually I use 4 bets.
The 5 Lines (à la Victor)
The LD (which is 2 dozens of course)
My EC bet selection (follow the last on High/Low if you lose 2 cycles that is LLLL, play the opposite, if you see LLLL again, go back to following the last, and so on...)
My Single Column (playing the dominating column over the few last spins with this progression 1,1,2 if lost: 2,2,3. I sometimes use this with the dozens, but I prefer the columns now, they seem to show more streaks which I exploit)
(Note: sometimes I remove or add something to this list, for example remove the column thing and add the JD and Red/Black besides High/Low, or even something entirely new that I wanna try out, etc. I might also flat-bet on hot numbers/sectors or flat-bet against sleeping ones if I see fit. Nothing written in stone, I just try to use everything I know about roulette in the best way possible depending on the situation, and I'm winning more than I lose by doing this).
The Strategy:This is THE real work. The above bets should be just 'tools' your strategy is the real play. Start looking at things this way and you will soon see the difference in your results. ;)
Ok, here is what I do:
I keep track of all the above (can get a bit hectic, so it needs some practice) using an Lw registry, so my notebook looks like this:
---------------------------------------
Tracking
Lines: nolinksnolinkswwLnolinksnolinkswLLnolinks
LD: wwLLLnolinkswwLLwwLnolinksLLL
EC: wwLwLLwwLLnolinksLLLnolinksLw
Column: 223113331332332213322
Placed Bets
Lines: ww
LD: w
EC: LwwLw
Column: Lw (+1) LLw (+2)
(So right now I'm 7units up. ;))
---------------------------------------
And so on...
Betting:
I only place a bet when I detect a favorable situation, i.e. a concentration of hits.Note: a concentration of L's can be profitable too.
Session Target:At first, I set my session's goal to 1% of my BR.
BUT, if I reach my target easily and notice that the session went great, then I decide to invest more using my winnings.
Example:
Say I started with 100 and the session went like a charm and I have 110. I then continue playing using a 10 units BR and aim to win 3 or 5 or 10 more (depending on how good the session went) using the house's money.
Bankroll Management:I use Victor's 50% plan, and I keep track of EVERYTHING. This is business. I track the Lw for every session and invest more when I'm on a good run of sessions and lower the investments and targets and increase caution with regards to my decisions when I'm having a hard period.
Example:
Sessions Registry:
wwLnolinkswwLnolinksnolinksnolinks <--- Here I'm in a profitable time.
nolinksnolinksnolinkswLnolinksLwwL <--- Here not so much, better be careful!
So far I have been winning (and learning) reasonably well. If this is just "luck" then well, I hope it continues. ;D
Hope that helps.
Best of "luck", ;)
Marven
@JHM,
Here's my take on the 1% per day.
Just for a minute, forget about the math. Forget about science and physics. Just for a minute .....
Let's say that everything you've learned about math and science and physics is correct and everything everyone on this forum has stated about the maths and physics is correct. Okay? But, just for a minute, forget about it. Okay?
Now, let's assume that no matter what bet you place it will eventually fail. It is absolutely, 100% guaranteed to fail.
Now, let's assume that you employ multiple systems and bias strategies, etc .... on a single day and, combined, they are absolutely, 100% guaranteed all going to fail, consecutively.
So, the only question left is when?
Let's say that it is absolutely, 100% guaranteed that the day of failure will be the day after you die. Now what?
If you start with a lack of confidence in your belief, it is 100% guaranteed you will fail. Forget roulette. It does not matter what the opportunity. You will fail. You will fail because you believed you will fail. You see, my friend, failure, just like success, is a state of mind. It's not what happens to you that matters, it's how you handle what happens to you that matters.
Wally Gator
The last paragraph of your post is priceless. And I once paid for it in a lecture!!
Sam
Regarding my post above,
Here is a tip if you want to use my way of play to get that 1%:
After you choose your bet selections, get to know them.
Take a week of your life, and do this (using real actuals or from live wheel feeds):
Sit down and keep track of the Lw's the way I described, but don't bet!
Just keep track of things. Learn how things go. See the good times. See the bad times.
For every bet selection, know what 'usual' outcomes are, what 'good' outcomes are and what 'bad' outcomes are.
By the end of the week, you'll have a good feel of things and you will start to learn how to read every situation, then you are ready to learn how to act accordingly.
Strategy play is a 'learned' skill, don't use it for real money unless you learn it first.
Note: When I was talking above about being subject to the house edge, I was only talking about mechanical betting. Like playing 12 numbers without a strategy.
Cheers,
Marven
@ Marven,
Quote from: Marven on January 05, 2009, 08:11:57 PMStrategy play is a 'learned' skill, don't use it for real money unless you learn it first.
Your quote cannot be understated. Thank you.
Gator
Wally Gator,
Great post, buddy! It's really encouraging to read that kind of stuff from time to time.
But...
How about all these people who used to believe but eventually lost everything?
There are many, we all know.
Basically, I agree with you... but only if we forget roulette (as you said).
Because roulette is game of maths, not game of faith.
At least this is my personal opinion.
All the best,
m
Quote from: mistarlupo on January 05, 2009, 08:25:47 PM
Because roulette is game of maths, not game of faith.
At least this is my personal opinion.
Hi mistarlupo,
I respect your opinion mate. But mine is that, in roulette, maths alone won't get you anywhere, just as faith alone won't.
Wally was talking of this kind of "faith" as a necessary component in the astute player's attitude, not as something to be relied on exclusively, and I agree with that.
Maths alone can't beat the game and that's why mechanical systems fail eventually. Blindly playing a mechanical/mathematical system makes the player learn not to think, take decisions, or react to the game.
You can't build a robot and ask it to become a successful business man.
I believe that an intelligent/trained human being can win 1% consistently.
How? Well that is the question, isn't it? ;)
Part of being human is that we have different ways of doing things and thus different things work for different people.
Regards,
Marven
@mistarlupo,
Good point. Thanks. Here's what I think regarding the maths.
Should we believe that 365 days of play are no different than 365 sessions of play in a single day? Mathematically it's all the same, right? This is accurate if we are to blindly play a system without regard for any of our surroundings, such as the wheel, the dealer, the ball size and weight, the air temperature, and the location. This would also be accurate if we did not take into account our attitude for the time at play, our mental focus, health and ability to make decisions. Would that be accurate? If so, when was the last time that you know of someone who played under these conditions? Because if you truly believe in maths these are the conditions from which you should play, right? There should be no guess work whatsoever. But, playing this way, you would already know the outcome, right? Without question, the system will eventually lose.
Again, it's a choice of how you wish to play.
My belief is that there are dynamics which take place between all facets of play. From the construction of the wheel and ball to the dealers spin of the ball, to the air pressure in the room, all of it, as well as our own spirit if you will. There is no single way to play. Each of us must decide that for ourselves.
I shared my thoughts about all this because I truly believe that it is not that difficult to consistently gain 1% of a bank in the long term. I believe that there are multiple ways to do it, but primarily through situational play. One must continually 'read' what's going on around them and make decisions based upon what they believe. If that means counting numbers or ball revolutions or what have you, then that's what you should play.
For me, the only caveat that I personally have is to ensure I have multiple strategies based upon multiple dimensions for any situation that may occur. Flexibility is very important to me. Just as important is patience.
Very good post Wally. :thumbsup:
Thanks,
Marven
Quote from: JHM on January 05, 2009, 06:46:59 PM
I think a good bet would be a bet Matty here played (if I remember correct). I don't know if this is the way Mat played but here it goes:
Wait for a DS to his twice, than bet the 5 unhit streets.
When we start with 100,- we bet 5 streets 1,-.
If we win we have 5 - 4 = +1 profit.
100 + 1% = 101,-
What if the bet is lost............
The zero is also covered in this bet but why risk 5 or more units for a return of 1 unit. Is betting 5 times as much really worth the extra 25-30% chance of winning? Surely E/Cs make a better proposition but each to their own of course. I would recommend Baccarat for any E/C strategy though, the 5% commission on the banker is well worth the price of not having a zero or two imo.
QuoteStrategy play is a 'learned' skill, don't use it for real money unless you learn it first.
Preach it Brother Preach it.......Your Best so far Mareven....Real good Mate.
That is the best discription I have ever seen.
And I read every post every day.
@Wally.
Don't You be put off mate.....
You know I try To win 2.5% per session and This year was My worse Year only 81% profit on starting Bank.
Remember Mate Figures can Lie Percentages DON"T.
Good on Ya Mates.....Lanky
@Lanky
Your influence is one of the primary reasons I'm looking at the business aspect of this whole thing. My thought was to take your 2.5% per session and knock 1/2 off (the super sale) making it even that much easier.
I believe that if we play strategically, and we know multiple systems and strategies, as well as ourselves and how we react to losses and recoveries (this is key), it would become very difficult not to make 1% of session bank. But, as you and I have discussed numerous times, you gotta walk out or at least put the bank and the 1% in the other pocket with a combo you don't know.
I believe if you fail at this it has more to do with yourself and less with the way of play. Let's face it, this is pretty much the case in all aspects of our lives, not just roulette.
I would venture to say that this 2-3 year plan will only be attainable by very few, unfortunately. It will be more a discipline problem than anything else. That said, I decided yesterday that I'm going to get going on it right away in an attempt to prove myself wrong. So, my challenge is to myself. If there are others who would like to join me I'd love to share thoughts as we progress.
As you and I have discussed, there are the doers of this world and then there is everyone else. I'd rather be a doer and fail a million times than not have made the attempt. At the end of our life, when we look back, what do we see?
Guys,
Thank you for the replies it's really appreciated. I'm definitive going to give this a try. But still have to test some strategies :). We already know days will come that we will have a losing streak. Maybe we should than quit playing, and return the next day and take the loss like a pro.
Quote from: JHM on January 06, 2009, 12:56:51 PMMaybe we should than quit playing, and return the next day and take the loss like a pro.
That's cool... but what percent would be this loss?
If it is like 1-2%, okay... but it's more likely this % to be 50-100... ???
So in order to avoid big losses, you'll need flat betting only.
In this case you'll have too many losing sessions...
To sum up, what we need is:
- flat betting not too many units
- 80/90% winning rate (at least)
It sounds like mission impossible, but it's all gambling at all, gents! 8)
Looking forward to hearing some ideas from you all.
Regards,
m
I totally agree with you on the flat betting. I have a book called ''Get the Edge at Roulette'' by Christopher Pawlicki. He bring several ways of play to order, like 'd Alembert, Martingale, Grand Martingale and more. He show's why Roulette mathematically can't be beat and how the progressions all fail in the end. He also says that the game can be beat with skill (Bias, DS, VB). If you don't play that way the best way to bet is flat bet on the EC's.
No I don't say he is right but he has a point. So what's the stop/loss limit?
I started today. Did 10 sessions for the 1st 10 days because I can't play the next 2 or 3 days. Next session is day 11.
[table=,]
Day,,Bank,,Win needed
1,,100.00,,1.00
2,,101.00,,1.01
3,,102.01,,1.02
4,,103.03,,1.03
5,,104.06,,1.04
6,,105.10,,1.05
7,,106.15,,1.06
8,,107.21,,1.07
9,,108.29,,1.08
10,,109.37,,1.09
11,,110.46,,1.10
12,,111.57,,1.12
13,,112.68,,1.13
14,,113.81,,1.14
15,,114.95,,1.15
16,,116.10,,1.16
17,,117.26,,1.17
18,,118.43,,1.18
19,,119.61,,1.20
20,,120.81,,1.21
21,,122.02,,1.22
22,,123.24,,1.23
23,,124.47,,1.24
24,,125.72,,1.26
25,,126.97,,1.27
26,,128.24,,1.28
27,,129.53,,1.30
28,,130.82,,1.31
29,,132.13,,1.32
30,,133.45,,1.33
31,,134.78,,1.35
32,,136.13,,1.36
33,,137.49,,1.37
34,,138.87,,1.39
35,,140.26,,1.40
36,,141.66,,1.42
37,,143.08,,1.43
38,,144.51,,1.45
39,,145.95,,1.46
40,,147.41,,1.47
41,,148.89,,1.49
42,,150.38,,1.50
43,,151.88,,1.52
44,,153.40,,1.53
45,,154.93,,1.55
46,,156.48,,1.56
47,,158.05,,1.58
48,,159.63,,1.60
49,,161.22,,1.61
50,,162.83,,1.63
51,,164.46,,1.64
52,,166.11,,1.66
53,,167.77,,1.68
54,,169.45,,1.69
55,,171.14,,1.71
56,,172.85,,1.73
57,,174.58,,1.75
58,,176.33,,1.76
59,,178.09,,1.78
60,,179.87,,1.80
61,,181.67,,1.82
62,,183.49,,1.83
63,,185.32,,1.85
64,,187.17,,1.87
65,,189.05,,1.89
66,,190.94,,1.91
67,,192.85,,1.93
68,,194.77,,1.95
69,,196.72,,1.97
70,,198.69,,1.99
71,,200.68,,2.01
72,,202.68,,2.03
73,,204.71,,2.05
74,,206.76,,2.07
75,,208.82,,2.09
76,,210.91,,2.11
77,,213.02,,2.13
78,,215.15,,2.15
79,,217.30,,2.17
80,,219.48,,2.19
81,,221.67,,2.22
82,,223.89,,2.24
83,,226.13,,2.26
84,,228.39,,2.28
85,,230.67,,2.31
86,,232.98,,2.33
87,,235.31,,2.35
88,,237.66,,2.38
89,,240.04,,2.40
90,,242.44,,2.42
91,,244.86,,2.45
92,,247.31,,2.47
93,,249.79,,2.50
94,,252.28,,2.52
95,,254.81,,2.55
96,,257.35,,2.57
97,,259.93,,2.60
98,,262.53,,2.63
99,,265.15,,2.65
100,,267.80,,2.68
101,,270.48,,2.70
102,,273.19,,2.73
103,,275.92,,2.76
104,,278.68,,2.79
105,,281.46,,2.81
106,,284.28,,2.84
107,,287.12,,2.87
108,,289.99,,2.90
109,,292.89,,2.93
110,,295.82,,2.96
111,,298.78,,2.99
112,,301.77,,3.02
113,,304.79,,3.05
114,,307.83,,3.08
115,,310.91,,3.11
116,,314.02,,3.14
117,,317.16,,3.17
118,,320.33,,3.20
119,,323.54,,3.24
120,,326.77,,3.27
121,,330.04,,3.30
122,,333.34,,3.33
123,,336.67,,3.37
124,,340.04,,3.40
125,,343.44,,3.43
126,,346.87,,3.47
127,,350.34,,3.50
128,,353.85,,3.54
129,,357.38,,3.57
130,,360.96,,3.61
131,,364.57,,3.65
132,,368.21,,3.68
133,,371.90,,3.72
134,,375.61,,3.76
135,,379.37,,3.79
136,,383.16,,3.83
137,,387.00,,3.87
138,,390.87,,3.91
139,,394.77,,3.95
140,,398.72,,3.99
141,,402.71,,4.03
142,,406.74,,4.07
143,,410.80,,4.11
144,,414.91,,4.15
145,,419.06,,4.19
146,,423.25,,4.23
147,,427.48,,4.27
148,,431.76,,4.32
149,,436.08,,4.36
150,,440.44,,4.40
151,,444.84,,4.45
152,,449.29,,4.49
153,,453.78,,4.54
154,,458.32,,4.58
155,,462.90,,4.63
156,,467.53,,4.68
157,,472.21,,4.72
158,,476.93,,4.77
159,,481.70,,4.82
160,,486.52,,4.87
161,,491.38,,4.91
162,,496.30,,4.96
163,,501.26,,5.01
164,,506.27,,5.06
165,,511.33,,5.11
166,,516.45,,5.16
167,,521.61,,5.22
168,,526.83,,5.27
169,,532.10,,5.32
170,,537.42,,5.37
171,,542.79,,5.43
172,,548.22,,5.48
173,,553.70,,5.54
174,,559.24,,5.59
175,,564.83,,5.65
176,,570.48,,5.70
177,,576.18,,5.76
178,,581.95,,5.82
179,,587.77,,5.88
180,,593.64,,5.94
181,,599.58,,6.00
182,,605.58,,6.06
183,,611.63,,6.12
184,,617.75,,6.18
185,,623.93,,6.24
186,,630.16,,6.30
187,,636.47,,6.36
188,,642.83,,6.43
189,,649.26,,6.49
190,,655.75,,6.56
191,,662.31,,6.62
192,,668.93,,6.69
193,,675.62,,6.76
194,,682.38,,6.82
195,,689.20,,6.89
196,,696.09,,6.96
197,,703.05,,7.03
198,,710.09,,7.10
199,,717.19,,7.17
200,,724.36,,7.24
201,,731.60,,7.32
202,,738.92,,7.39
203,,746.31,,7.46
204,,753.77,,7.54
205,,761.31,,7.61
206,,768.92,,7.69
207,,776.61,,7.77
208,,784.38,,7.84
209,,792.22,,7.92
210,,800.14,,8.00
211,,808.14,,8.08
212,,816.22,,8.16
213,,824.39,,8.24
214,,832.63,,8.33
215,,840.96,,8.41
216,,849.37,,8.49
217,,857.86,,8.58
218,,866.44,,8.66
219,,875.10,,8.75
220,,883.85,,8.84
221,,892.69,,8.93
222,,901.62,,9.02
223,,910.64,,9.11
224,,919.74,,9.20
225,,928.94,,9.29
226,,938.23,,9.38
227,,947.61,,9.48
228,,957.09,,9.57
229,,966.66,,9.67
230,,976.33,,9.76
231,,986.09,,9.86
232,,995.95,,9.96
233,,1005.91,,10.06
234,,1015.97,,10.16
235,,1026.13,,10.26
236,,1036.39,,10.36
237,,1046.75,,10.47
238,,1057.22,,10.57
239,,1067.79,,10.68
240,,1078.47,,10.78
241,,1089.26,,10.89
242,,1100.15,,11.00
243,,1111.15,,11.11
244,,1122.26,,11.22
245,,1133.48,,11.33
246,,1144.82,,11.45
247,,1156.27,,11.56
248,,1167.83,,11.68
249,,1179.51,,11.80
250,,1191.30,,11.91
251,,1203.22,,12.03
252,,1215.25,,12.15
253,,1227.40,,12.27
254,,1239.67,,12.40
255,,1252.07,,12.52
256,,1264.59,,12.65
257,,1277.24,,12.77
258,,1290.01,,12.90
259,,1302.91,,13.03
260,,1315.94,,13.16
261,,1329.10,,13.29
262,,1342.39,,13.42
263,,1355.81,,13.56
264,,1369.37,,13.69
265,,1383.07,,13.83
266,,1396.90,,13.97
267,,1410.86,,14.11
268,,1424.97,,14.25
269,,1439.22,,14.39
270,,1453.62,,14.54
271,,1468.15,,14.68
272,,1482.83,,14.83
273,,1497.66,,14.98
274,,1512.64,,15.13
275,,1527.76,,15.28
276,,1543.04,,15.43
277,,1558.47,,15.58
278,,1574.06,,15.74
279,,1589.80,,15.90
280,,1605.70,,16.06
281,,1621.75,,16.22
282,,1637.97,,16.38
283,,1654.35,,16.54
284,,1670.89,,16.71
285,,1687.60,,16.88
286,,1704.48,,17.04
287,,1721.52,,17.22
288,,1738.74,,17.39
289,,1756.13,,17.56
290,,1773.69,,17.74
291,,1791.42,,17.91
292,,1809.34,,18.09
293,,1827.43,,18.27
294,,1845.71,,18.46
295,,1864.16,,18.64
296,,1882.80,,18.83
297,,1901.63,,19.02
298,,1920.65,,19.21
299,,1939.86,,19.40
300,,1959.25,,19.59
301,,1978.85,,19.79
302,,1998.64,,19.99
303,,2018.62,,20.19
304,,2038.81,,20.39
305,,2059.20,,20.59
306,,2079.79,,20.80
307,,2100.59,,21.01
308,,2121.59,,21.22
309,,2142.81,,21.43
310,,2164.24,,21.64
311,,2185.88,,21.86
312,,2207.74,,22.08
313,,2229.81,,22.30
314,,2252.11,,22.52
315,,2274.63,,22.75
316,,2297.38,,22.97
317,,2320.35,,23.20
318,,2343.56,,23.44
319,,2366.99,,23.67
320,,2390.66,,23.91
321,,2414.57,,24.15
322,,2438.71,,24.39
323,,2463.10,,24.63
324,,2487.73,,24.88
325,,2512.61,,25.13
326,,2537.74,,25.38
327,,2563.11,,25.63
328,,2588.74,,25.89
329,,2614.63,,26.15
330,,2640.78,,26.41
331,,2667.19,,26.67
332,,2693.86,,26.94
333,,2720.80,,27.21
334,,2748.00,,27.48
335,,2775.48,,27.75
336,,2803.24,,28.03
337,,2831.27,,28.31
338,,2859.58,,28.60
339,,2888.18,,28.88
340,,2917.06,,29.17
341,,2946.23,,29.46
342,,2975.70,,29.76
343,,3005.45,,30.05
344,,3035.51,,30.36
345,,3065.86,,30.66
346,,3096.52,,30.97
347,,3127.49,,31.27
348,,3158.76,,31.59
349,,3190.35,,31.90
350,,3222.25,,32.22
351,,3254.47,,32.54
352,,3287.02,,32.87
353,,3319.89,,33.20
354,,3353.09,,33.53
355,,3386.62,,33.87
356,,3420.49,,34.20
357,,3454.69,,34.55
358,,3489.24,,34.89
359,,3524.13,,35.24
360,,3559.37,,35.59
361,,3594.96,,35.95
362,,3630.91,,36.31
363,,3667.22,,36.67
364,,3703.90,,37.04
[/table]
Good Luck Wally, you'll need it. Everybody needs it when playing a game of chance involved :thumbsup:
Thanks JHM. I'm going to try to speed things up a bit, when I can, by doing more than one session when I go.
Quote from: Lanky on January 06, 2009, 04:54:40 AM
Preach it Brother Preach it.......Your Best so far Mareven....Real good Mate.
That is the best discription I have ever seen.
And I read every post every day.
I'm only a student of yours dear Lanky. :)
@Wally,
Good luck sir.
Regards,
Marven
Good on ya Wally, best regards for this. Compounding is the 8th wonder of the world they say!
I tried something similar a while back and aimed for 10% but didn't go too well.
Just and only just an idea, would it pay to have a second bankroll to help fund the current session if it's not going well, or bring it into play after say 3 losing sessions? I only suggest this as a means to protect the main bankroll.
roules,
No question .... if we can have 10 banks it's a good thing. Here's another example of the flexibility. If you prefer not to take the risk in gaining the 1% with a single bank, then once your bank doubles, go back to session 1 and now begin again, but with 2 banks. Make sense?
My personal goal is to take the 100 unit bank (for me that's $100 bucks) and in less than 3 years turn it into $1M. Sounds crazy, but keep that thought of compounding interest in mind.
Gentlemen
Has anyone ever heard of the Kelly Criterion? It's a horse racing term, but Kelly was a financial person or something. He just applied his knowledge to the races.
Sam
Hm, I've never heard of Kelly Criterion as a horse racing term? ???
I think it's a mathematical formula, that can be applied to both gambling and business.
Maybe I'm wrong but there are loads of websites with detailed information about that.
TwoCatSam,
It's gonna be great addition to the money management section, the Kelly formula explained... :)
I'll try to find some more information and maybe post something.
Take care,
m
m
I said that wrong! I meant to say it's a term I heard while playing the horses, not a horse race term. Yes, do post on it.
Sam
I have read about it with nice explenation, but the site is down, when its open again i will post you the link.
But made a quick search and here you can read about the basic idea nolinks://en.wikipedia.org/wiki/Kelly_criterion (nolinks://en.wikipedia.org/wiki/Kelly_criterion)
Cheers Lucky Strike