Quit When Ahead
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https://youtu.be/1ZKsY9NXS5c
It's just psychological, with the emphasis on 'psyco' and no emphasis on 'logical'Quote: MrVJohn Patrick often spoke of doing that, or at least locking up a profit and not pissing it away during that session.
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Many of us do try to fool ourselves while 'quitting while we are ahead'. It gives us the opportunity to boast about all the winning sessions, or even consecutive winning sessions that we had. And of course we go all shy when we have those few monstrous losing sessions that wipe out every profit we ever reported.
Sessions mean NOTHING if you are going to return to the game.
Quitting while you're ahead means NOTHING if you are going to return to the game.
Hit and Run is NOT a winning strategy if you are going to return to the game.
We can easily boast about our winning sessions. I do it myself Here 45 Winning sessions
and here
32 Winning sessions
In Isolation they look like great confirmation that quitting while ahead is a good idea. But IT ISN'T.
Simply because it is selective reporting. Those posts did not show the carnage of other sessions which went unreported. Sessions where I not only lost, but where I lost big. Not necessarily one big losing session, but often a bunch of modest losing sessions.
The bull.... secret behind those nice steady up-ramp charts of the winning bundles of sessions: Negative Progressive wagering at the buy in level. Basically any time I lost a buy in, I'd buy in for about twice as much and ramp up my wagers to chase out the loss. Rinse repeat. Sure, I wasn't reporting a loss, but each time I was playing Russian roulette with bigger loss chasing buy ins. And when the inevitable demise came and I lost WAYYY too many buy ins... Well I simply stopped reporting that and went to bed sulking.
Selective reporting! Not a winning strategy. It's just smoke and mirrors that gamblers use to sell their illusion. Even to sell the illusion to themselves. Don't buy it!
Read the sig.
I WON BACK TO BACK HANDPAYS…SO THEY SHUT THE MACHINES OFF!!! -
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My electricity has gone out 3 times this morning, maybe because of the weather, because 3 squirrels didn't die on the wires tonight.
Hmm, maybe it's solar flares mucking with the electric grid?
Northern Lights To Glow Over US Halloween Aurora Borealis | AccuWeather https://www.accuweather.com/en/space-news/northern-lights-to-glow-over-us-halloween-aurora-borealis/1040379?utm_source=twitter&utm_campaign=AccuAstronomy&utm_medium=social
NOAA issued a G3, or "strong" geomagnetic storm watch, for Saturday and Sunday ahead of the flare slamming into the Earth. The scale for geomagnetic storms runs from G1, or minor storm, to G5, an extreme storm.
This geomagnetic storm could cause voltage irregularities and false alarms on some protection devices, NOAA warns. It also could cause high frequency radio blackouts and loss of radio contact on the sunlit side of the earth.
the idea of quitting while ahead kind of implies that it's wise to keep playing when you're down
as if to say - there will always be some point when you will be ahead
and the above statement is 100% false
however, quitting while ahead might be a good strategy for an amateur player if it means that overall he will spend less time playing and therefore will expose fewer of his dollars to the HE
.
Quote: lilredrooster
the idea of quitting while ahead kind of implies that it's wise to keep playing when you're down
as if to say - there will always be some point when you will be ahead
and the above statement is 100% false
however, quitting while ahead might be a good strategy for an amateur player if it means that overall he will spend less time playing and therefore will expose fewer of his dollars to the HE
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Quitting while you are ahead plays fully into gamblers fallacy. "I've won, some so I'm due to lose some, so I'll trick fate by stepping back for a while"
It also plays to the Martingale crowd who intuitively know that if the throw enough money at the next game or session, they really always will get ahead.
Quote: OnceDearIt's just psychological, with the emphasis on 'psyco' and no emphasis on 'logical'
The sentence perfectly describes the following post. Very sad and unfortunate.
tuttigym
Quote: OnceDearMany of us do try to fool ourselves while 'quitting while we are ahead'. It gives us the opportunity to boast about all the winning sessions, or even consecutive winning sessions that we had. And of course we go all shy when we have those few monstrous losing sessions that wipe out every profit we ever reported.
Sessions mean NOTHING if you are going to return to the game.
Quitting while you're ahead means NOTHING if you are going to return to the game.
Hit and Run is NOT a winning strategy if you are going to return to the game.
We can easily boast about our winning sessions. I do it myself Here 45 Winning sessions
and here
32 Winning sessions
In Isolation they look like great confirmation that quitting while ahead is a good idea. But IT ISN'T.
Simply because it is selective reporting. Those posts did not show the carnage of other sessions which went unreported. Sessions where I not only lost, but where I lost big. Not necessarily one big losing session, but often a bunch of modest losing sessions.
The bull.... secret behind those nice steady up-ramp charts of the winning bundles of sessions: Negative Progressive wagering at the buy in level. Basically any time I lost a buy in, I'd buy in for about twice as much and ramp up my wagers to chase out the loss. Rinse repeat. Sure, I wasn't reporting a loss, but each time I was playing Russian roulette with bigger loss chasing buy ins. And when the inevitable demise came and I lost WAYYY too many buy ins... Well I simply stopped reporting that and went to bed sulking.
Selective reporting! Not a winning strategy. It's just smoke and mirrors that gamblers use to sell their illusion. Even to sell the illusion to themselves. Don't buy it!
Read the sig.
link to original post
[Formatting fixed by Mod]
Quote: billryanOn the other hand, the less time spent playing negative games, the better off you are so having any quit point is better than deciding to play until you run out of money.
It depends on why you gamble.
If your goal is to win money then stay the hell out of casinos and do not play negative expectation games.
On the other hand if you have more money than you need and can easily lose a chunk and not miss it, then by all means let the games begin, assuming your primary goal is to experience the thrill of the chase.
I enjoy winning money when it happens and I dislike losing but I accept losses as the price I have to pay to experience the stimulation of casino gambling.
We return and return and return.
The win continues year after year after year after year,
Never stops. Always a win of candy, ALWAYS.
Quote: MrVQuote: billryanOn the other hand, the less time spent playing negative games, the better off you are so having any quit point is better than deciding to play until you run out of money.
It depends on why you gamble.
If your goal is to win money then stay the hell out of casinos and do not play negative expectation games.
On the other hand if you have more money than you need and can easily lose a chunk and not miss it, then by all means let the games begin, assuming your primary goal is to experience the thrill of the chase.
I enjoy winning money when it happens and I dislike losing but I accept losses as the price I have to pay to experience the stimulation of casino gambling.
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I believe casinos exist to be exploited. Other than the comped shows and comped meals I get from them, I don't regard them as providing entertainment. Everyone has their own reasons to gamble. If sharing a table with strangers making small talk is entertaining enough that someone is willing to pay an hourly " tax" for the privilege, good for them. If someone else is willing to simply watch machines forty five minutes out of a hour in order to get in a few spins at a slight advantage, bully for them.
I personally dislike losing $100 far more than I need to win $100 so if I don't have an advantage, I generally no longer play.
