31st October 2010, 11:18 AM
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Member
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Join Date: Oct 2010
Posts: 54
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Quote:
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Originally Posted by ixlat0
-- the trick is to convert an edge into a profit -- now profit is altogether another beast that needs to be tamed and can only be brought under control through correct staking -- the most critical componet of which is managing drawdown
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ixlato,
One of the reasons you could be losing long-term is because you are over complicating things.
If you have an edge, it means your selection method will return a profit betting level stakes.
All this talk about "taming, beast, control" etc makes no sense and is probably confusing you somewhat. Make it more simple for yourself, if you make a profit while betting level stakes, it means you have an edge. Then you can start changing staking plans to maximise profits.
You are correct about drawdowns, but that is basic bank management which you should really have under control before you even consider punting. |