A win goal is fine but lets not forget the TIME put in

[Mr J]

Been wanting to do this thread for a while. A win goal is fine, meet it and QUIT for the day. A win goal can be a couple different things. Perhaps its 20% of your BR....or 20% of your buy in (?) as we discussed in the past OR its a dollar amount. Sometimes for me its 1K or as low as $500, whatever. My point being, the longer you are playing, I STRONGLY ADVISE you adjust your goal, I will give a couple TRUE examples.

I walked in with a win goal of 1K playing XXX method. Up down up down for 10 hours!! Finally, I was getting very tired and only had a profit of $150 but I left. Was it the 1K I had wanted? No but you have to use some common sense. Another one....again, I was playing for hours and in the hole for $800 (est). I claw my way back to minus $100 and LEFT. You can not be ROCK SOLID with your win goal !! Its my opinion, the LONGER you are playing, your win goal must slowly drop. What I do: I write down the time I started to play. As each hour passes, I lower my win goal a bit.

Ken

[GLC]

Darn good point MrJ.

Rock solid because it comes from someone who plays for real money and long hours.

I will add one of my rules on stop loss.  If I get down to about 75% of my stop loss, I'm just looking to break even.

One more thing.  If I'm playing a slow progression like 2up 2 down, and I have a win target of 50 units and I get down, my 50 units is calculated from my lowest drawdown.  So, if I get down -15 units, my new win target is +35 units instead of +50 units.  Otherwise, if I get down say 40 units and have to play until I reach +50 units, that means I have to win 90 units.

Good topic,

George

[Mr J]

Another good point regarding 'breaking even'. Years ago (as a rookie) I had a problem with this. Now, if I have been playing for HOURS, in the damn hole and slowly get to....'breaking even', I will leave, no doubt about it.

Ken

[birdhands]

I appreciate this thread.  Do you guys have a set win goal to stop/loss ratio?

[Mr J]

"I appreciate this thread" >>> Thats the only way I do it.

Ken

[Mr J]

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