thx, but i have not and do not intend to "query" here....i am just here for the conditions and storiesOriginally Posted by Freightman
anyways, freightman....you answers are downright SCARY
I had one additional buy-in of $2000 with me. I only used the first. This is not what I would have personally considered a working session as I would not normally go to a $100 table. This was a night out. $50 tables are the most I will do on my own as they are the minimum in the high roller area with no mid shoe entry. I like those tables better since I usually will play heads up or with max 1 to 2 additional players.
that could very well be, but I think we all make due with what we have sometimes. I remember reading somewhere I needed 10k to get started on red chip tables and it was very demoralizing. I'm sure that number is right. I won't debate it, but I had to begin without that kind of cash. I passed that point now, but I never would have even started if I had to wait for 10k worth of disposable cash. I attribute my stats so far to bank roll management. Just knowing when to leave whether up or down. There were also times where I backed down to $15 dollar tables after a string of losses. Built it back up and now I'm continuing in the high roller area.
OWhat is your bankroll? Something tells me your not properly capitalized for. $50 min shoe game. If right, I hope the variance Gods are good to you.
As for $5 tables, I started with $600 of seed money that I threw in (replenishable). Granted, the games were good at the time.
You really need to rethink your game strategy and stakes. 3 or 4 bad sessions at $50 min, will decimate your roll, and you'll be back to the nickel tables - granted, you might get lucky. I know a fellow who thought he was impervious to ruin, and dropped close to 250 k, because he thought he was to good for the concept of Kelly to apply to him. I dropped close to 60k over 4 months of hell last year. Never changed my ramps. I certainly wasn't happy about it. I practiced sound statistical principles and have since recovered.
Shit happens - it always does, and sometimes it happens bad. You need to be prepared for it. You did say something that I liked - "my total bankroll from blackjack...........". This tells me that your roll is seperate from all other assets. Opens up other discussions, which I'm sure will come up in due course.
It depends on what risk of ruin you're comfortable with really. 32k is really low for $50 tables, I sure as hell wouldn't be popping $800 as my top bet for that. You could lose that in one session- trust me, I've done it, several times playing those stakes. When I was playing those stakes, I lost 18k in one shoe betting 2x$500 max!! Be prepared when it rains, it pours! The encouraging part is, it can be done. If you wanna play $50 min with that bank, Wong out aggressively, resize your top bet and if you're comfortable with a higher risk of ruin (prob like 30% still at least), then go for it. Many will tell you to practice fully Kelly, half Kelly, quarter or whatever, but the fact is, many of us never made money with the fear of busting out. You might very well bust out, and that sucks. But there's still a solid chance you could make it too. Again, I stress the notion of playing within your comfort levels and a risk of ruin YOU feel is acceptable.
OP has a rather good bankroll for $25 games.
The problem, I suspect, is not only the self-destructive aspects of GREED,
But the reality that a GAMBLER, not an AP, will find that halving his bet level
will be boring and lacking in excitement. Of course we know that the casinos
manipulate (some of) us into playing higher stakes, beckoned by better rules !
I was just thinking about this again cross referencing to a nightmare hand that I had last month - thinking about this in terms of your 32k bank.
Think super juicy count with 2x400 end of shoe
Think hand 1 split 3 times to 4 hands all doubled
Think hand 2 split once with 1 double
4400 on the table all 18,19,20
Still juicy count - dealer pulls to multi card 21- your betting essentially the same amount - to do anything different than what I did would not be AP ish. For you, this would have resulted in almost 15% hit on your roll - you definitely can't handle this.
You should seriously rethink your stakes.
this assumes everyone's risk tolerance is equal, which is foolish...just like any investment, you set goals....in order to achieve set goals, sometimes requires more risk...even to the point where you may lose everything...so it's user's choice, based on THEIR goals, NOT yours
Agree with Freightman here. It sounds like you learned just enough about being an AP card counter to be your own worst enemy. The most important things to learn have to do with BR and risk management. Then if you aren't a slash and burn your opportunities player heat management.
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