Wow - there's a lot of good things on this thread already. Most of what follows is not new but perhaps just a different spin.

The following risk management plan comes from a source that will remain anonymous lest the censors razor is invoked.

Bundle a continuing series of bets into Blocks of say 20 bets (30, 40 or whatever). The Starting Block Bank remains static throughout each block of bets irrespective of current win/loss - and is only recalculated at the commencement of each new Block of bets.

Individual bet size is calculated as a % of the prevailing Block Bank. This allows for different sized bets (1%, 2%, 3% etc etc) and all bet sizing whims including Kelly.

At the end of each Block a profit or loss is declared. A proportion of Profit maybe siphoned off for preservation - a new starting Block Bank is calculated from the residual profits plus the proceeding Block Bank. Hence, individual bet sizes in the forthcoming Block of bets will be proportionately larger.

In the event of a Block of bets producing a loss the new Block Bank remains EXACTLY the same as the proceeding Block Bank. Accordingly, the following series of individual bets remain the same (by proportion).

Sizing of individual bets as a percentage of Bank must pay homage to Maximum historical DDown and then some (Stebbo has either been reading my mail or has read the same book).

As for Staking Plans such as Power of Ten the good news is that I own the Software Edition. What am I bid?