Well, first off let me say I am a young man who has experienced his fair share of chasing, or betting more then my bankroll should probally permit. This is why I'm starting the thread, I'm hoping to get some tips from of you RX vets. I know most people when they are younger tend to chase and or over bet, but eventually get out of it. When did you see the light, or what caused you too? What is your guide or what do you practice with your money management? What is the KEY? thanks in advance, and hopefully we can all gain something from this thread. Cheers. :toast:
Remove all emotion. The moment you can do that, you will stop chasing. If you approach this like what it is, a business, you will succeed (assuming you can pick winners). I believe a lot of people on here can pick many winners, but it comes down to emotion, which will lead to successful money management.
Many people can make decisions, but very few can make the right decision.
appreciate it.
I just came off a 6-16 streak where I couldn't hit the broad side of a barn. My emotions told me to just push it on the Cubs yesterday, but then how long does it take to build it? Why do I bet? To win or for action?
Easiest thing is just keep in mind, there are 17 weeks in NFL football and 160 games in bases, golf 10 months a year, lotta basketball games. Theres always another day or another week to pick a good spot.
Easiest thing is just keep in mind, there are 17 weeks in NFL football and 160 games in bases, golf 10 months a year, lotta basketball games. Theres always another day or another week to pick a good spot.
Very few people can turn their emotions off just like that, so for most that develop insensitivity to variance it takes experience. For most it requires hitting rock bottom. Dealing with variance is about putting things in perspective, realising that nothing in the shorterm matters. Very hard to do for most, even with experience.
I try to focus on improving my winning percentage and not so much the money (yet, still young). Before a big televised game I ask myself "Is this really gonna help me hit 55-60%? Didn't even make a wager on The Super bowl or the NBA playoffs, yet. Going to a driving range also helps me take my mind off the action so i'm not checking sportsline every 10 minutes. Gotta get MLB extra innings sometime soon.
Never play a Public Dog, ever. People rarely play dogs, and when they all like the same one, stay away. Don't fall for the Must-win games either. The Lakers are in a Must-win situation tonight, but will they cover?. Also try to stay away from national prime-time games. They are a bookies dream.
