1. 07-07-11 10:28 PM #1
    fax6202
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    Money Management

    I have read several threads in the HTT regarding money management and have definitely benefited from the various opinions. I do have a question regarding using a Labby method. I know that to chase is always going to bury you eventually, even if your >= 55%. I read a thread where Ganchrow broke down the percentages of losing 15 straight bets; very interesting. I guess what i am asking is what are your thoughts/experiences with the Labby and is it the start down a losing path-like the chase. Please feel free to rip it apart, I have not used it other than experimenting with a small bankroll and would really appreciate some constructive criticism.
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  2. 07-08-11 05:34 AM #2
    That Foreign Guy
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    How to evaluate money management systems:

    1) Does it increase bet size based on past losses? If so it is trash no matter how it is dressed up.

    2) Does it bet a flat fraction of bankroll or to win a flat fraction of bankroll? If so it is decent

    3) Does it increase bet size based on higher Expected Growth (which is a function of edge and probability of winning)? If so it is probably good.

    I must be in a good mood this morning to type all that instead of just saying "Flat bet / bet to win 2% until you know what you're doing then use a Kelly fraction."
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    fax6202 gave That Foreign Guy 2 SBR Point(s) for this post.
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  3. 07-08-11 09:56 AM #3
    Peregrine Stoop
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    Flat bet / bet to win 2% until you know what you're doing, then use a Kelly fraction.
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  4. 07-10-11 04:18 PM #4
    maxvalue1
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    Kelly fraction..??? what would be the best palce to learn this "Kelly fraction"??
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  5. 07-11-11 05:49 AM #5
    That Foreign Guy
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    http://www.lmgtfy.com/?q=kelly+criteria
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  6. 07-11-11 10:49 PM #6
    maxvalue1
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    thanks FG...wow,, you really walked me through that one
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  7. 07-12-11 02:36 AM #7
    donkson
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    not sure if serious
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  8. 07-12-11 03:42 AM #8
    Sawyer
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    I don't like Kelly Kamikaze Criterion. Flat/Rachet are better.
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  9. 07-12-11 06:01 AM #9
    That Foreign Guy
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    Quote Originally Posted by maxvalue1 View Post
    thanks FG...wow,, you really walked me through that one
    If you've read the first five google results for that term and have questions I am happy to either attempt to answer them or suggest new search terms.

    Used right, Google is a great teacher.
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