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DISCIPLINE ON LOSING DAYS #2
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By JOHN PATRICK
We became quite friendly, and he sort of took me under his wing. He rarely talked about how much he wanted to win, but concentrated on my understanding the power of CUTTING LOSSES

To this day, I have that message ingrained in my mind and for this message, I would like for you to understand this most important part of your gambling forays.

I am in the casinos 4-5 days a week.  Living in New Jersey, I am about two and a half hour ride to the casinos, which means a 5 hour round trip.  My games are Poker, Pai Gow Poker, Craps, Roulette, Let It Ride, Video Poker and Blackjack, in that order.  You will notice that Blackjack is listed last for a very good reason.  It is the hardest game in the casino to get a streak.

In future articles I will go over the proper way to play the games with MONEY MANAGEMENT methods to be applied, that will keep you strong at every SESSION.  But that is for another day.  More than learning HOW to PLAY  a game, you must learn HOW to BET your money at that game.  And right on top of the requirements is something called LOSS LIMITS.

It has to do with how you handle yourself on losing days, and don't shake your head and say you never have losing days.  We all have them  It is HOW we handle ourselves on those days.  I will give you a number to remember but you first have to pass two tests:

  a)  Give me a number between 2 and 4..........

  b)  Give me a number between 49 and 51............

I really hate to put you to the taxing chore of using your brain, but if you passed college geometry, you may be able to answer at least one of these questions, although I admit they are toughies.  But when you realize how tough it is to win at the tables, without DISCIPLINE, this should be a cakewalk.

OK, your time is up and I hope you all got both answers right.  The answer to (a ) is 3.  The answer to (b) is 50 and kudos to all of you who batted a thousand.  These two numbers I want you to concentrate on and bring them with you on your next trip to the tables.  They are two of the tools you will use to get you started towards being a perfect player.

  a)  Whether you play Blackjack, Craps, Roulette or what ever, you set 3 as the total number of consecutive losses you will suffer and leave  that table.  No excuses!!!  If you lose 3 out of 4, the same rule applies.  This way, you will not leave yourself open to being whacked at any given Session.

  b)  If you lose 50% of the amount of your  buy-in, that Session is over and you leave the table.

There you have two disciplined keys to signal your leaving a table whereby things are not going good for you.  Three consecutive losses or three out of four, or a 50% loss of the starting session amount, whichever comes first.  If you start with these two rules, your damage control in the casinos will come to a sudden stop.

I will be going over how you handle yourself on winning days, but MOST IMPORTANT THINGS first.  And that would be setting a DISCIPLINED set of LOSS LIMITS.

So take it from someone who learned how to cut losses, you have just taken the first step in becoming a strong player in the casinos.

  JOHN PATRICK


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