How to shake of a losing streak?

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Prospect
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Posted:

Hey guys, so I've been on a pretty bad losing streak. This will be my fifth losing week in a row. Lowest week at -$1,200 and as high a $5k. I've never been in a funk like this. I've had my streaks of wining and losing, but can't shake this one off. Matter of fact, before my first week of this lossing streak I was on a 5 week winning streak. Can't pick a winner to save my life! So today I decided to fade myself on all my picks for full games. Been doing ok on 2h bets, so no fade needed there. Has this happen to any of you? How did you get back to winning or your average? Desperate here. One more negative week and imma have to call it quits. Any feed back is appreciated 
 
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I would suggest taking at least a week off gambling.

This means no visits to covers, or any other sports related sites you may visit.

No watching any sport.

No reading the sport section in the paper.

You get the drift.

Clear your mind, quite often I find the reason I start to lose is when the brain is trying to process too much at once, and isn't relaxed.

We perform at our best in a relaxed comfortable state.

Do NOT try to chase your losses back, practice bankroll money management, some people only bet 1% of their total roll, per bet but I think its okay to bet 3-5%.

Also what I do before a sporting season starts is determine what strategies to make selections and bankroll money management I will use, before writing a list of rules for the season, unit target per strategy, and stick to it!

Sounds like its a little late for most of the above for you, but if you want to keep your head above water I suggest taking it easy. Remember that baseball, basketball, hockey and football aren't going anywhere, they will still be here in years to come, you going bankrupt however, well that's a possibility and may mean you can never bet again

 
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Posted:

Quote Originally Posted by rivermonsterz:

Do NOT try to chase your losses back, practice bankroll money management, some people only bet 1% of their total roll, per bet but I think its okay to bet 3-5%.

Also what I do before a sporting season starts is determine what strategies to make selections and bankroll money management I will use, before writing a list of rules for the season, unit target per strategy, and stick to it!


This pretty well sums it up.

Make a strategy for losing scenario before it happens. Betting based on winning wings only hits the ground hard. 

Without an edge there is no sense in betting, except recreational playing.

And the stake depends directly on the edge. Assuming one have an edge  of 5%, the maximum stake ever should be 2% of the bankroll, thus the chased one if you use that style. When the max bet is reached the edge should take care of drawdown, but sometimes in very, very long time. So, no fruits during that period, you have to live with it.

Forget about Kelly and its variations, it is a sure way to disaster. 



 
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Just what rivermonster said, just take some time off. Take anywhere between 3 game days to 10 game days even up to 2 weeks off without betting.

Losing streaks are part of the pattern and no one is untouchable when it comes to losing streaks. The only way to weather it, is to lay off on betting for a while.

The problem here lies on people who love the "high" that the action produces daily. If you find that you cannot lay low for a while, it might spell trouble for your bankroll.

Try taking three days off and see what happens. If you lose two straight days, then take another 3 to 5 days off without betting. Then see what happens. Hopefully by then, it would have shaken the "losing streak" out of your betting.
 
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The days off betting is a good refresher… while I wasn't on a losing streak but at the end of previous MLB season I was mentally fatigued from betting. 

Had a 2 week break before NHL season kicked off and I was ready to roll again… 

Having a break really clears the mind and enables you to relax.. 

Losing streaks happen.. it's inevitable. Just don't change what you are doing, if previously it was working, as it will turn around again.

I kicked off November with a 6 game long streak (I do 1 play a day for NHL) but I maintained discipline and kept at it… it turned around and I finished the month bang on 50%.


 
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Posted:

Stop betting.

Why continue if its not working.

Regroup, reassess,  or what ever is needed but stop until it a go.

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