vpFREE2 Forums

One long session

#1

Lawrence Boxer talked about cashing out when you are up money and 'locking in the profit'. I understand the thought process but you really aren't locking anything in. If you are ever going to play again, then you will be playing with that money again. A session is a pretty artificial grouping of single events. If a daily profit is your goal, then go ahead and lock in those profits. If there is some magic formula to knowing that you have hit the high point of the day, week, month, etc I'd like to know it. The hand you play after being up $500 has the same expected value as the hand you play after being down $500. The only time you should 'take the money and run' is if you are playing a negative game. Then each hand you play has the same negative EV.

Negative runs and positive runs are part of the game. Unfortunately, you don't know when they will happen or how long they will last. I firmly believe that the hand I'm playing doesn't know what the last hand(s) were and there is no relationship between the previous hand(s) and the current hand.

#2

Lawrence Boxer talked about cashing out when you are up money

and 'locking in
the profit'. I understand the thought process but you really aren't
locking
anything in. If you are ever going to play again, then you will be
playing
with that money again. A session is a pretty artificial grouping of
single events.<<<

Actually I didn't say "locking in the profit," but "take the profit,"
in terms of a given session, which has nothing to do with whether or
not you play again later. Sure a session is an "artificial
grouping..." but if you don't have some point where you decide to
quit, for a while at least, then the only option is to play until you
run out of money. Is that a better plan?
  

Negative runs and positive runs are part of the game.

Unfortunately, you don't know when they will happen or how long they
will last. I firmly believe that the hand I'm playing doesn't know
what the last hand(s) were and there is no relationship between the
previous hand(s) and the current hand.<<<

I agree completely. If you're fortunate enough to win a substantial
amount early in your session, why doesn't it make sense to be willing
to give a little of it back but make sure that you get up and walk
away with the bulk of it? Whether it's money you put into the
machine last month or ten years ago or later that night doesn't
matter.

lb