Stop Loss

Stop Loss. Traders say it is the best thing known to man. And many roulette players use it to limit their losses.
But tell me, does it have any real meaning?
Stop loss what? The current attack? The current session? The current visit to the casino?
How about your next attack? Or your next visit? Does anything change? Wouldn't you keep betting (losing) money?
As referred to by most people, stop loss is nothing more that a mental trick to feel more in control, while mathematically it changes nothing. It just delays, postpones the betting, giving you a false sense of (Link removed, website is in poster's sig if anyone is interested-Mission146) If a system is good keep playing it; If is not abandon it. Losses are part of the game.

The only stop loss I believe has a true value is the STOP LOSS FOREVER and NEVER GAMBLE AGAIN.

However I'm open to hear useful applications of the stop loss concept.

I don't think you're allowed to post links to your website in your first post.

Stop losses are for people who forgot their cajones at home.

Here's the thing. If you're an AP player, going to the casino for profit, "stop loss" has no meaning. What advantage is there to stopping? You have the edge. But you're not gambling, you're earning a living. I guess you stop when you're tired.

If you're gambling, you're going to the casino for fun. And you stop when you're not having fun, which means when you're losing. If you have two more days to play, you sort of know when to stop if the first day is a disaster. It might be nice to have an idea where to place the stop, but that's details.

If you have trouble walking away, if you get emotionally involved beyond not being happy about losing, then you might need to be introduced to the concept of stop loss.

If you are a compulsive gambler, it doesn't matter. Knowing about stop loss is like knowing about GA. You are going to play until you have no more money.

So, yeah. Stop Loss.

Quote: Mosca

Here's the thing. If you're an AP player, going to the casino for profit, "stop loss" has no meaning. What advantage is there to stopping? You have the edge. But you're not gambling, you're earning a living. I guess you stop when you're tired.

If you're gambling, you're going to the casino for fun. And you stop when you're not having fun, which means when you're losing. If you have two more days to play, you sort of know when to stop if the first day is a disaster. It might be nice to have an idea where to place the stop, but that's details.

If you have trouble walking away, if you get emotionally involved beyond not being happy about losing, then you might need to be introduced to the concept of stop loss.

If you are a compulsive gambler, it doesn't matter. Knowing about stop loss is like knowing about GA. You are going to play until you have no more money.

So, yeah. Stop Loss.

I used a stop loss when I first started counting with no bankroll. I was playing about a break-even game, not AP. It was a mental game to keep me from losing too much money, used as sparingly as an emergency brake. It can prevent tilt, discouragement, and other negative psychological factors from presenting in the insecure player. Mathematically, it is useless.

Quote: Kavouras

Stop Loss. Traders say it is the best thing known to man. And many roulette players use it to limit their losses.
But tell me, does it have any real meaning?
Stop loss what? The current attack? The current session? The current visit to the casino?
How about your next attack? Or your next visit? Does anything change? Wouldn't you keep betting (losing) money?
As referred to by most people, stop loss is nothing more that a mental trick to feel more in control, while mathematically it changes nothing. It just delays, postpones the betting, giving you a false sense of (Link removed, website is in poster's sig if anyone is interested-Mission146) If a system is good keep playing it; If is not abandon it. Losses are part of the game.

The only stop loss I believe has a true value is the STOP LOSS FOREVER and NEVER GAMBLE AGAIN.

However I'm open to hear useful applications of the stop loss concept.

Welcome! You took the words right out of my mouth.

Playing blackjack for a profit, winning or losing is not the determining factor for me to stop playing. I subscribe to the somewhat controversial idea that my play is one lifetime session. This session is interrupted by the need for sleep, sustenance and life's everyday tasks.

Some other reasons for me to stop playing would be a set time, appointment or other commitment, always finishing out a positive game first. Another reason is crowded conditions leading to a decrease in hands per hour. That can be taken care of by playing in the off hours. Showing your full spread makes it a good idea to leave as well, rather than starting a new shuffle with your base bet.

Only reasons for a stop loss is for psychological reasons, if you're playing a loss rebate, or a situation where you're about to CTR.

Life is one long session and a stop loss doesn't stop any losses, it just makes them take a little longer. If you're an AP then a stop loss shouldn't exist either. There are a lot of good reasons to stop, but being down isn't one of them.

Sorry if the link was against the rules, I just wanted to provide some context.
Thanks for the interesting replies so far.

I appreciate the reason for the link, as well as you returning to post again. People are generally free to post links here, it's just that it can often be an indicator of Spam for a first time poster. Provided the link is topical, and not attempting to sell anything, you may feel free to post links from this point forward.

Quote: Mission146

I appreciate the reason for the link, as well as you returning to post again. People are generally free to post links here, it's just that it can often be an indicator of Spam for a first time poster. Provided the link is topical, and not attempting to sell anything, you may feel free to post links from this point forward.

Thank you very much