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Thread: When to take a profit/loss and walk away from a shoe

  1. #27


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    Quote Originally Posted by DSchles View Post
    No, you're missing a simpler point: "inferring" should be "implying."

    Don
    It’s a shanda

    https://en.m.wiktionary.org/wiki/shanda

  2. #28


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    Quote Originally Posted by Norm View Post
    Stop losses have no effect
    You are right if human brain is made up with silicon but when loosing makes player depressed causing him/her can not play at his/her best then stop/take break is good choice. The next hand/round does not have to be in the same shoe, it can be next table or next trip or other casino. my 2cents

  3. #29


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    Quote Originally Posted by cc12b View Post
    You are right if human brain is made up with silicon but when loosing makes player depressed causing him/her can not play at his/her best then stop/take break is good choice. The next hand/round does not have to be in the same shoe, it can be next table or next trip or other casino. my 2cents
    If he's "loosing", maybe he should "tighten" up.

  4. #30


    2 out of 2 members found this post helpful. Did you find this post helpful? Yes | No
    Quote Originally Posted by cc12b View Post
    but when loosing makes player depressed causing him/her can not play at his/her best then stop/take break is good choice.
    I have an analogy that I remember from a business college class.
    The professor said something very close to this: "From a financial prospective, no one should own their home outright. They can make more money investing these funds elsewhere while paying a lower APR on a home mortgage. The home appreciates or depreciates whether its owned outright or financed."

    I'm not saying I agree with this statement in its entirety but I do agree with the general principle.

    Its a psychological thing, just as owning a home outright in theory is the wrong financial move, it puts the homeowner in a safe place.
    Stop wins/ Stop losses are the same for a small percentage of people, although net losers long term vs. not setting these "stops", It benefits their mental well-being.
    So the question becomes what is "peace of mind" worth to these players that are concerned with this(specifically session win percentage/and large losses due to variance)? This answer will be different to each player.

    So if a player can give up 10% of EV and they have "piece of mind", it may be worth it to THAT player. Math doesn't have emotions, people do.

    Bottom line is we know Mathematically stop wins/losses don't work. Mentally this is a tough game. If it helps someone to "stomach" the losses by giving up a few percent in EV it just may be worth it to THAT particular player.
    Last edited by BankerCA; 07-20-2019 at 11:32 AM.

  5. #31


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    Quote Originally Posted by BankerCA View Post
    I have an analogy that I remember from a business college class.
    The professor said something very close to this: "From a financial prospective, no one should own their home outright. They can make more money investing these funds elsewhere while paying a lower APR on a home mortgage. The home appreciates or depreciates whether its owned outright or financed."

    I'm not saying I agree with this statement in its entirety but I do agree with the general principle.

    Its a psychological thing, just as owning a home outright in theory is the wrong financial move, it puts the homeowner in a safe place.
    Stop wins/ Stop losses are the same for a small percentage of people, although net losers long term vs. not setting these "stops", It benefits their mental well-being.
    So the question becomes what is "peace of mind" worth to these players that are concerned with this(specifically session win percentage/and large losses due to variance)? This answer will be different to each player.

    So if a player can give up 10% of EV and they have "piece of mind", it may be worth it to THAT player. Math doesn't have emotions, people do.

    Bottom line is we know Mathematically stop wins/losses don't work. Mentally this is a tough game. If it helps someone to "stomach" the losses by giving up a few percent in EV it just may be worth it to THAT particular player.
    I had an economics professor who stated that anyone could easily afford a Mercedes. The catch was - if you want the Mercedes, you can’t afford children.

    As far as owning a house is not the right move - granted, Yankees have the ability to deduct their home mortgage interest while Canadians do not, however, there is abundant security in having home and cars paid for, no debt with money put away. The problem, as I see it for U.S. residents is that deducting mortgage interest fuels refinancing of home mortgages to fund purchase of non essential and costly consumer items which would normally be beyond the ability of the home owner to purchase.

    Sooner or later, refinanced debt has to be paid back, and sooner or later, people get sick, die, retire, get fired or laid off - all situations which reduce the amount of money available to fund debt.

  6. #32


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    Quote Originally Posted by PinkChip View Post
    Maybe these nerving "Stop loss" threads should immediately be moved to the Disadvantage forum, because it's all about voodoo stuff.
    100% agree...can I raise it?

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