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Cant
Win For Losing
(read part I
here, or part II
here )
"IT'S
GOD'S RESPONSIBILITY TO FORGIVE BIN LADEN. . . .
Sometimes the
choices that we have to make are not easy ones. In
Part II of this article,
we talked about how you have to limit your losses, so that your winnings outpace your
losses. Im not just talking about
winning 85% of your sessions, but still losing more money than you win. Im talking about severely limiting your
losses, and at the same time, increasing your wins-to-loss ratio. Is it easier said
than done? Of course it is. Can most players
learn how to do it? Yes. The problem is,
that even though we know that something is good for us, most of us continue to do what IS
NOT good for us. Some people smoke,
even though they know that its unhealthy. Some people order
heart-attack on a plate type foods even though they can hear their arteries
scream in protest as they choke with cholesterol. Some people use
drugs, or engage in unsafe activities that defy logic and reason. Im not here
to talk anyone out of it. Its a free
country, and everyone can pursue life, liberty, happiness, agony and death to their own
delight. Winning at craps is
not easy. Making a consistent profit at craps
is not easy. KEEPING your profit is even MORE difficult.
The first step to getting into the promised-land of casino profit is to
limit your losses. How did I become so
successful playing craps? Well
Precision-Shooting had a lot to do with it. In
fact, I can attribute most of the profit that I make to Precision-Shooting. However, KEEPING that profit has nothing to do
with Precision-Shooting, and everything to do with Discipline and Money-Management. To me, the most
important element in Money-Management is to impose a rock-solid, no-compromise Loss Limit. Everything that my
Precision-Shooting generates in the way of profit would be at high-risk if I didnt
put a will-not-falter Loss Limit in place. Listen, I STILL
battle and struggle with my own Loss Limit every time that my shooting is not up to par. Whenever that happens, my bankroll is at risk if I
bend the rules or try to rationalize putting a little more of my bankroll at
risk. I can tell you
this. I have been keeping very accurate
records for the past ten years of casino-life. EVERY
time that I have bent my own Loss Limit rules, I have only staged a comeback about 7% of
the time. That means that I have a 93% losing
rate when I dont follow my own advice. If that isnt
compelling enough of a reason for you to impose tight Loss Limits on your own bankroll;
then I dont think that I can be of any help to you.
Better that you should take your casino-stake and donate it to a worthy
charity, because it isnt going to do YOU any good.
Oh, by the way,
those sessions where I broke my own Loss Limit rules resulted in some of the most horrific
losses of my entire casino history. Thankfully,
I havent had an idiotic-episode like that in a long, long time, but I can assure you
that the memories are as fresh and clear as ever. Time
hasnt dulled those memories, just the pain. It
would appear that the most excruciating lessons are the ones that leave the deepest, most
long lasting impressions. I sincerely hope
that you do not have to go through such tough experiences to improve your game. I want you to put
loss limits in place so that 75% of your sessions are WINNING ones. Once we reach that level, well have
something significant and profitable to work with. Currently,
Im running in the 95% session-win category. Its
taken a LONG time for me to get there. You
should be able to shave significant time, pain and money off of that learning-curve. You have to believe
in yourself and have a single-minded determination to pursue consistent profitability in
this game. If you are a half-hearted player,
whether it be in football, baseball, golf or craps; then your results will also be
half-hearted. You have to stay focused and
not bend or break your Loss Limits. There is a way to
do all of this properly, and I am going to show you how. Whether you are
looking for some casually entertaining casino action, or looking at making
Precision-Shooting a part-time revenue-generator; you cannot jeopardize your bankroll. You have to set a
loss-limit that you can live with. It has to
give you the best opportunity for winning, while reducing your loss-risk to an absolute
minimum. To determine what an effective Loss Limit would be, we first have to take a
realistic look at your Bankroll. Well do that in Part Four of this article. Until then Good Luck & Good Skill at the Tables
and in
Life. The Mad Professor
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