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BANKROLL - LOSS LIMITS

Right up there in the matter of importance we have the LOSS LIMITS. It is the restriction, or limit, you put on your losses for a given day.

You can't sit there and be battered into total wipe out before throwing in the white flag. You gotta get in the habit of backing off those days when the Trends are going against you.

Nobody wins everyday. It's impossible. But on the days that you "get hit," cut those losses, and at least head home with the jingle of some money in your pocket. It beats the banging of the bell in your head that keeps reminding you that you got wiped out.

This is more a psychological tool than anything else. Think of how many times you took $300 to the Casino and lost the whole amount ‑ right down to the last nickel.

But, if you had taken $600 and limited the loss to 50% (or $300) you'd also feel bad, but at least you had a start for your next trip to the tables.

Jess A. Bettmore is a typical visitor to the tables. For some reason, he wants to make that one more bet with the last chip he has in his pocket. Does he really think his fortunes are gonna change and he will recoup everything back with that last chip?

Maybe it happened once to his brothers' wife's nephew's next door neighbor's milkman's mother‑in law, who won $8000 on her last $5 chip.

By the time the story got back to Jess A. Bettmore, it gave the impression that it's so easy to recoup everything with one little hot streak. These are isolated cases and not something on which to pin your dreams.

I want you to set an amount of money you will lose on the days things are going bad, and stop when you reach that point, or even get close to it.

In Roulette the Loss Limit is 50%. Now that is the maximum amount you may lose before banging it up for the day.

You may set your loss limit at 40%, 30%, 25% or 20%, but at least set an amount. Following is the Limits for each Casino Game.

ROULETTE	50%
BLACK JACK	40%
BACCARAT	60%
CRAPS	50%
SLOTS	60%
of one third of your	total Bankroll

Baccarat ‑ being the easiest game to find a streak ‑allows a larger limit. Craps and Roulette are next in line as to the simplicity of getting streaks. With Blackjack be­ing the toughest to get streaks going, it's the reason you set a lower Loss Limit.

One might argue that if you're gonna set 50% of $600 as your Loss Limit (which would be $300,) why not just bring $300 to the casino?

Because I already explained to you, in the beginning of the chapter, that psychology enters into the move. I don't want total wipe out to be part of your day ‑ even if the total loss will be $25.

If $25 is 50% of your Bankroll, bring $50 to battle and have the Discipline and the guts to leave before you're cleaned out.

Jess A. Bettmore won't like these instructions. If he has been playing for six hours and loses his entire $400 bankroll, he'll head for the door grumbling to his wife that he was positive he'd get it back, if he had some more money and he could have just got down one more bet.

As they trudge toward the door, she hands him a dollar to give to the attendant to get their car and then she heads for the ladies room to freshen up. That was her mistake. Jess A. Bettmore ‑ with the dollar burning a hole in his brain ‑ heads to another table to make that one bet more.

They have cages for baboons like this, But the in­telligence level of a dork like Bettmore might be a bad influence on the other monkeys.

"LOSS LIMITS" ‑ a super important discipline tool for your overall approach to gambling. "Don't leave home without it..."

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