Miamiboy86

Just curious man.. I see some of me in you. We are about the same age, I saw you hit that huge parlay and was really pumped for you it was like 7 g's for a 100 $ wager. I then saw you blow 3500 in random parlays the next night, then chased with a 2000 $ bet on the Lakers 2nd half that lost.


I don't know if you have a ton of money and 7000 is shit to you.. I hope this is the case. But if you are chasing I hope you learned your lesson and check out the money management thread in the main forum, some people helped me out quite a bit with their views. I have been there won alot, lost it back then chased my ass and got in over my head years ago. I have taken it easy and risk 1-3 % of my bankroll and that's the limit. Has been profitable so far. I was rooting for you tonight too, hopefully you can get back on the winning track and won't go too crazy with your bets.


BOL to you and looking forward to your next parlays. Take it easy dude.:toast:

first of all, I really appreciate you taking the time to write about my situation, as you can tell I am probably (as you described) a little like you in more ways than one (age, initial Money Management, etc)....long story short, i have gone from wagering 50$ a game to winning and losing thousands in a day (max bet on a game was game 5 loss of Lakers, lost 5k on that alone), all in the past 5 months....

7000 is a ton of money to me, unfortunately. I have always had a problem with the concept of money, as I like accumulating it but don't really spend it too often (normal guy, just don't go buying designer clothes + upgrading my Civic lol) which is probably why I can sorta handle losing it....

Anyways, yea I have to definitely take it easy and go back to strict MM, as that is how I ended up large in the first place (couple of SMART parlays, with some luck, as well as making MOSTLY str8 bets of decent but not over-the-top amounts, is how I made a SOLID amount of money in a few days....only to lose 85% over the following week, numbers don't matter but you get the idea)

I would really appreciate your input, and please ask the mods for my e-mail as I think discussing solid money management and risk strategy could greatly help me (and hopefully I could bring something to the table for you as well!!)

Best of luck crz, and I know you will take it easy (your from CA, it's in your blood!!!)

Miami

Nothing wrong with acccumulating money and not spending it, that is wise. However we as gamblers think losing money is not spending money. I am in the same boat as you guys, the bottom line is we are all pretty much cut from the same cloth. I am trying to work on money management as well. I won't pay $250 for brakes on my car when I need them but I have no problem betting $250 on a game at any time, because it is only until after I lose it that I really think of it as money spent.

I'm pretty much the same way with not really spending much money on lavish things. Which could be a good thing or bad depending how I do in gambling.:missingte I think the best quote from the Money Management thread was "remove all emotion, as soon as you do that you will stop chasing" and another one "treat it like a business". Also, bet only MAX 5 % of your bankroll on your GOY. There is no such thing as a lock, and you will go on a cold streak, it is inevitable. Hitting a 5 team parlay isn't too easy either, hence the huge payout. Hell, hitting a 2 teamer is hard enough for me, but you seem to have a good eye for em maybe we can hit a couple. check out that money management thread if you haven't yet bud. Now let's pick some winners today, I'm up early to do some research.d1g1t:toast:

Miami,

Money management is vital. It is probably even more important than the handicapping itself. I would set a limit on the amount of money or units you would put on one game. If your unit is $100 or $200, and you put $5,000 on a half time play and $3,500 on parlays, something has gone wrong there. I won't put any more than 3 units on any game in any sport. A lot of wagers are decided by literally inches, and you will be on the right and wrong side of a lot of these. If you are on the right side of a close game at $100, and a wrong side of another at $5,000, you are doing yourself a major disservice.

Trying to help. Hope all of your plays are winners.

HW

First of all, I really do appreciate all your guys help and advice...I have taken a step back, realized that I am "gambling" too much and need to step down my unit size and # of plays....I am still gonna do parlays, as for whatever reason I feel I have a small advantage (and yes, I know statistically that is impossible but let me live in my fantasy land lol ), but the single bets for $$$$ are no more, gonna try to adhere to a Money Management of no more than 3% of my bankroll at any given time, no more than that....gonna do some capping and put out my leans/favorites for tonight....again, thanks for all the advice, that's why I joined this site in the first place!