Anyone else concerned by the seemingly irresponsible postings that have become apparent the last few days? I see some guys really stepping out and putting far to great a percentage of bankroll at risk on any individual play, most of you old timers know how this is going to end. Feeling your oats is one thing bad money management is another animal altogether and will surely lead to some to the poorhouse.
-
-
-
Everybody has to learn about money management. Some will learn the hard way, and others will take sage advise about how to be responsible about your investment choices.Originally posted by teazemanComment -
I think most posters don't bet anywhere near the amount they claim. What percentage of posts here are fiction?Comment -
Too true Teazeman, but unfortunately this is a pattern that will never change. It's a costly, costly lesson, but one that is unfortunately only learned through experience for most folks. It makes me cringe when I hear it time and again as well.Originally posted by teazeman
The sad thing is that even when they win it's completely useless, as they'll only naturally give it all back with no discipline and money management. Great post...
Comment -
It's important to realize your surroundings, and not let the forum influence you too much. As a player you're trying to control any impulses that would cause you to bet over your head. Sometimes that's hard to do, particularly when guys are in your face talking about doubling up quick, can't miss games, stuff like that. It is like being on a strict diet and watching someone eat ice cream right before your eyes, that temptation to spiral out of control will always exist but you just have to realize what triggers that emotion and deal with it from there.Comment -
Its a marathon not a sprint until they figure that out the only happy one will be the bookComment -
Lots of guys taking shots here with all their money
credit cards maxed out,ect
Guys on tilt hereComment -
Portland/Detroit over 180.5 is a lock.
POUND IT! CAN'T LOSE! Bet DOUBLE KELLY at 100% chance of winning. DOUBLE KELLY! Pound the over, it's a friggin lock. DO IT NOW! CHASE WITH IT!Comment -
Double Kelly? Does this mean I bet my bankroll and someone else's bankroll too?Comment -
I don't get this unit thing. A 20-Unit play means nothing to me unless I know the Bankroll size. If it's 400 Units, then a 20-unit play may be appropriate. If it's 100 Units, then a 20% play is wreckless. I wish % were used instead. For example, this is a 3% play.Comment -
The term "responsible posting" is an oxymoron.Comment -
i see people chase a loser all the time and you know what happens.Comment -
yes sirOriginally posted by The HGComment -
lol..just for that im going under, hahOriginally posted by The HGComment -
kind of like "government intelligence".Originally posted by ritehookComment -
κ-Kelly utility as a function of bankroll, B, given a Kelly multiplier, κ > 0, is:Originally posted by Wheell
U(x;κ) = loge(B) for κ = 1
U(x;κ) = κ/(κ-1) * B (κ-1)/κ for κ ≠ 1
Hence, double-Kelly utility would just be:U(x) = 2 * B ½Comment -
don't **** with hg's picks. when he is on, he is onOriginally posted by supra23Comment
