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.
Money Management
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fax6202SBR Hustler
- 05-13-11
- 98
#1Money ManagementTags: None -
That Foreign GuySBR Sharp
- 07-18-10
- 432
#2How 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."Comment -
Peregrine StoopSBR Wise Guy
- 10-23-09
- 869
#3Flat bet / bet to win 2% until you know what you're doing, then use a Kelly fraction.Comment -
maxvalue1SBR Sharp
- 11-08-10
- 350
#4Kelly fraction..??? what would be the best palce to learn this "Kelly fraction"??Comment -
maxvalue1SBR Sharp
- 11-08-10
- 350
#6thanks FG...wow,, you really walked me through that oneComment -
donksonSBR Sharp
- 03-12-11
- 411
#7not sure if seriousComment -
SawyerSBR Hall of Famer
- 06-01-09
- 7744
#8I don't like Kelly Kamikaze Criterion. Flat/Rachet are better.Comment -
That Foreign GuySBR Sharp
- 07-18-10
- 432
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