30th October 2010, 10:40 PM
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Member
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Join Date: Oct 2010
Posts: 54
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Quote:
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Originally Posted by Chrome Prince
You just need an advantage and to turn over your bank x number of times to derive a good income. Luck is not a factor.
Assume that a bank of 10k and your edge is a mere 2%. (mine is a lot higher than 2%).
Turning over your bank once, your profit is $200.
Hardly a wage, however, suppose you could turn over your bank 10 times in a week, suddenly your wage is 2k from a mere 10k bank, even though the edge remains 2%.
2% is amazingly conservative.
The above also assumes 2% of bank level stakes, not staking plans or higher percentage of bank bet which increases risk.
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Chrome Prince,
Betting 2% of your bank is allowing for a maximum drawdown of only 50 units.
If you are going to turnover that $10k bank 10 times in a week as you say, that is 500 bets.
Now, 500 bets in a week is a high turnover method in anyones language. If you think 50 units drawdown is conservative on a high turnover method like that, you are dreaming.
So again, I would strongly encourage newcomers to ignore your post as you would need a huge amount of luck to not go bankrupt.
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