25th September 2014, 03:27 PM
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Member
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Join Date: Oct 2009
Posts: 463
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firehorse, i definitely think increasing stakes should be a very gradual and calculated move. I learnt that more recently thanks to some posts Paul made in my thread which made me think more about the potential drawdown on a bank as well as maximum run of outs etc.
The mathematics behind it isn't for everyone but I definitely believe you should at least try to wrap your head around it to get a greater understanding of how increasing stakes can have an impact on your bankroll.
Further to this here is a short explanation of what i'm looking at implementing myself:
I started with a small bank of just $1,000. As the min lay for SP bets on betfair is $30 i've used this all along thus far even with my bank increasing, because what I eventually want to implement is having those lays as 1% of my bank. My aim is to reach $3,000 bankroll and from there increase my stakes based on that 1% (or my %'s for my other systems/methods).
However what I also plan to do is once I pass that $3,000 mark is for every $500 profit I make, take $250 out and bank it. That way your still gradually increasing your stakes, but also rewarding yourself for your efforts. These funds you take out could be kept in a bank account and give you more comfort knowing that in the absolute worst case scenario you've still got a backup bank there if required.
Hope the above makes sense and not sure if its helpful. Also totally agree with CP in that do not bet out of your comfort zone. Being comfortable is what allows people to make smart, rational and timely decisions. As soon as your uncomfortable it may mess with your betting psychology and subconsciously force you to make bets you would not have previously at smaller stakes.
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