Help please. Money management advice

Question

Someone posted some very good money management advice for a newbie about a month ago.  If I remember the poor soul lost 50k and was down to 5k.  If I remember correctly the advice was $50 dollar bets increased and decreased by 3% depending on w-l.  I liked the advice and printed it off as basic sports betting preservation as a reminder for myself.  I sometimes get a litttle greedy.  I have since painted my "office" and cannot find my printout.  Does anyone remember where to find the thread?  Much thanks.......

jerryrice · Answer

Someone posted some very good money management advice for a newbie about a month ago.  If I remember the poor soul lost 50k and was down to 5k.  If I remember correctly the advice was $50 dollar bets increased and decreased by 3% depending on w-l.  I liked the advice and printed it off as basic sports betting preservation as a reminder for myself.  I sometimes get a litttle greedy.  I have since painted my "office" and cannot find my printout.  Does anyone remember where to find the thread?  Much thanks.......

TomE · Answer

Just cruising threads looking for idea ammunition for Week 3.

One thing JUMPS OUT AT ME reading your request.....

you are seeking money management advice from someone who lost 50K?

Is it just me or do you see anything wrong with that picture as I re-stated it for you?

I certainly do.

My advice is forget about it. Seeking advice from a loser is just a bad idea. Seek advice from winners, not losers.

BOL

kaponofor3 · Answer

No jerryrice, but you might want to not spend so much time at the gym, your back is looking swoll yo

TomE · Answer

P.S.If I misunderstood your post, I apologize.

NRLisBack · Answer

Just pick a number between 3%-5% of your bankroll. At the end of each week recalculate the same % of your new bankroll and readjust the figure for a unit.

roundrock9 · Answer

some simple rules to follow (hard to implement though)

1. each bet not to exceed x% of your current bank role. i prefer 3%

2. at any time open bets not to exceed y. i prefer 7

3. never bet to get some action. patience is the key. wait and pounce on the opportunity

4. never chase a losing bet. if you lose that game, you lose it. dont try to average it. move on. there are opportunities every day

Crashdavis565 · Answer

see number 3 above!see number 4 above!

Roonie · Answer

[Quote: Originally Posted by roundrock9]  some simple rules to follow (hard to implement though)&#xD;&#xA;1. each bet not to exceed x% of your current bank role. i prefer 3%&#xD;&#xA;2. at any time open bets not to exceed y. i prefer 7&#xD;&#xA;3. never bet to get some action. patience is the key. wait and pounce on the opportunity&#xD;&#xA;4. never chase a losing bet. if you lose that game, you lose it. dont try to average it. move on. there are opportunities every day&#xD;&#xA;   [/Quote]Whos that in your dp?

chillinmcm · Answer

[Quote: Originally Posted by roundrock9]  some simple rules to follow (hard to implement though)&#xD;&#xA;1. each bet not to exceed x% of your current bank role. i prefer 3%&#xD;&#xA;2. at any time open bets not to exceed y. i prefer 7&#xD;&#xA;3. never bet to get some action. patience is the key. wait and pounce on the opportunity&#xD;&#xA;4. never chase a losing bet. if you lose that game, you lose it. dont try to average it. move on. there are opportunities every day&#xD;&#xA;   [/Quote] Well said, very well said.

nooob · Answer

there&#x27;s no such thing as money management in gambling, unless you are one of the super disciplined outliers. &#xD;&#xA;ask yourself this question: &#xD;&#xA;assume you are married (at least 2 years in). if a super 24 year old girl (not a hooker) offered you a blowjob in your car, would you let her do it?&#xD;&#xA;IF YOU EVEN THOUGHT ABOUT IT, you won&#x27;t be able to manage a bankroll. the end.

mrquija27 · Answer

[Quote: Originally Posted by nooob] &#xD;&#xA;there&#x27;s no such thing as money management in gambling, unless you are one of the super disciplined outliers. &#xD;&#xA;ask yourself this question: &#xD;&#xA;assume you are married (at least 2 years in). if a super 24 year old girl (not a hooker) offered you a blowjob in your car, would you let her do it?&#xD;&#xA;IF YOU EVEN THOUGHT ABOUT IT, you won&#x27;t be able to manage a bankroll. the end.&#xD;&#xA;[/Quote]&#xD;&#xA;The worst advice ever.  Yeah this dude already lost for sure.  For the rest of us who actually care to beat the system money management is just as important than making picks.  Maybe more important.  Pick a unit and stick to it based on the size of your bankroll.  Ive relized this is the single most important part.  As long as you can pick 53% you wont lose.  Betting -110 that is.

Help please. Money management advice

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