The theory sounds good Stebbo, but what bothers me is if you put your system into a graph form of peaks and troughs, the problem becomes when to enter the graph with bet 1 [assuming level stakes bets here].
Allowing an MRO of say 13 [and that would require a strike rate nearing 50%] and using your example of 200 of max drawback, if I enter the graph with my bet 1 when you were on 650 and a 200 drawback hit, you would be on 450 and I on 300. You would be on a 150 buffer purely due to entry point luck. If a series of MD's hit, or even close to MD [it does happen] with small gains between, I wouild be out and you in [maybe], purely due to luck.

Becareful,

Wouldn't stepped bets often produce the bigger bets hitting loosers and smaller bets hitting winners producing no advantage other than allowing more bets for your $ [perhaps] but not necessarily a greater chance of winning due to ever smaller collects ?

Cheers.

[ This Message was edited by: crash on 2003-10-20 17:01 ]

[ This Message was edited by: crash on 2003-10-20 17:06 ]

[ This Message was edited by: crash on 2003-10-20 17:13 ]