So I have a couple of systems that look okay but it occurs to me that a good staking plan could really maximise the wins and reduce the impact of losses.

Can anyone suggest a plan that rewards you well for wins and protects your butt for losses?

I have been playing with a progression of:

1 1 2 4 4 4 5 6 6 7 for a total of 40 units spent.

The idea is to win 100% profit within the 1st 4 attempts at 6/1 (i never bet on 1st or 2nd fav). Then the goal is to make 75% profit on the 5th race, 50% profit on the 6th race and then 25% profit on race 7 and 8. If that still does not work, then race 9 and 10 are set to return the total lost so far. If all fails then 40 units are lost and the progression restarts.

Most of my selection systems pick a few bets per day and I aim for systems with 25%+ S/R's.

So anyone else got any other staking plans they would suggest?

If your getting a average dividend of 6/1 at a 25% SR, well done sir, you will soon be very rich, simply bet percent of bank and watch the fortune grow rapidly.

However, if your system doesnt show a level stakes profit, that staking plan will probably work for a while, but you WILL hit runs of outs of ten fairly regualry targetting those horse around the $6+ mark, and end up doing your bank in.

Two of the safer plans out there are the retirement staking plan and the 6 point divisor plan, search these forums, many threads on these here.

But ultimately, its best to start with a system that shows a positive POT, saves a lot of heartache at the end of teh day.

This will sound harsh, but I think the best way to learn is to lose money, so I suggest you decide on a small bank you're willing to lose for a lesson learned, and commit to the loss-chasing staking plan you mention Max. You will hit an unexpected run of outs, and you will lose the bank. It's the best way to learn to not go down the path of a loss-chasing staking plan.

If your can be talked into avoiding chasing losses, then I would suggest betting by percentage of bank. For instance, bet 2% of your betting bank on your 1st selection. If it loses, then recalculate, and bet 2% of your new bank balance on the next selection, and so on. If it wins, then bet 2% of your new bank balance on the next selection, and so on. It will save the bank during runs of outs, yet rewards you when you get successive winners.

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...time held me green and dying, though I sang in my chains like the sea. - Dylan Thomas

Some good thoughts there. I am open to dropping the chasing losses thoughts. I really just have not had enough experience to see other views. As mentioned previously in other threads, I have been working the numbers for years and similar staking plans have had their good and bad times.

Using a % of bank is a good idea. I usually only have a few betting races each day so I would use the same % on each of those races (i like to set and forget) and then set a new value the next day. I will go back through my records this time around and recalc my stats using a 2% bank on each race. Obviously need a nice sized bank to begin with but on paper it should work.

As to actually working to lose it to learn a lesson. Probably will not. I am well underpaid in my job and value my hard earned cash as it is, plus I am one of the most unlucky people you will meet, never win anything or any value, and often lose those that I try for. I am very experienced in losing! I am also a very risk adverse person. As most others are I guess. Probably why I work more on maths and probability rather than form and class. I will continue working on paper until I feel comfortable and open a little bank and see how it goes.

Here's a staking plan that works very well if you have a 22%SR

RULES
Increase last bet by 10%
Multiply last bet by 1.10
win, lose or draw, until in front.

Keep doing this until in front then start again.

It works a treat & will turn a losing level stakes system into a profitable one.
So as long as one restarts once in front.
Keep going up ladder once in front at your own peril

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Another option is to increase initial bet by 20% on all subsequent bets.
e.g. Initial bet 10 units x 20% = 2 unit increase per bet
10 12 14 15 ect
Win, lose or draw , until in front.

What these 2 staking plans are trying to do is crush the odds of making a profit into your favour.

What will kill the system is massively long runs of outs , thats why the SR has to be 22%+

Bet 1.00 per 300.00 Bank
Good for 50 outs.

When was the last time you hit 50 outs in a row?
If you strike 50 outs , give up punting & take up bricklaying as a hobby, its will be easier for you.

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Cheers.

Example of 10% staking plan.
10.00
11.00
12.10
13.30
14.60
16.10
17.70 ect

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Cheers.