Do You Have FOMO?

[PICSIX]

Fear Of Missing Out.....

http://posttimedaily.com/michael-pizzollas-valuecapping-rant-a-lesson-from-a-famous-pianist/

[raybo]

Fear Of Missing Out.....

http://posttimedaily.com/michael-pizzollas-valuecapping-rant-a-lesson-from-a-famous-pianist/

I think more have it than will admit it. The lack of discipline to pass poor betting opportunities is probably the downfall of most losing players, whether they suffer from "FOMO" or just have to have the action. Patience and discipline are 2 of the most important characteristics of the winning player, IMO.

[Overlay]

I would have to disagree with Mike Pizzolla's contention that passing is a skill that cannot be taught, and that has to be developed through individual experience. That might be true if pass decisions are based on case-by-case subjective opinion or qualitative analysis. But using objective, quantitative criteria to make those decisions is a learnable skill that can alleviate or eliminate "FOMO", because you can then know exactly how much AND why you "like" a given wager. It also helps you deal more effectively with the inevitable occasions when a horse or combination that you passed on ends up winning, because you can still have confidence that you were going with the probabilities rather than against them. (Keeping records of what you would have lost over time on such horses that fail to win is also useful in that regard.)

[Fingal]

I think more have it than will admit it. The lack of discipline to pass poor betting opportunities is probably the downfall of most losing players, whether they suffer from "FOMO" or just have to have the action. Patience and discipline are 2 of the most important characteristics of the winning player, IMO.


At times I've been told I have the patience of a Hindu Holy Man.

I consider it a badge of honor.

[raybo]

I would have to disagree with Mike Pizzolla's contention that passing is a skill that cannot be taught, and that has to be developed through individual experience. That might be true if pass decisions are based on case-by-case subjective opinion or qualitative analysis. But using objective, quantitative criteria to make those decisions is a learnable skill that can alleviate or eliminate "FOMO", because you can then know exactly how much AND why you "like" a given wager. It also helps you deal more effectively with the inevitable occasions when a horse or combination that you passed on ends up winning, because you can still have confidence that you were going with the probabilities rather than against them. (Keeping records of what you would have lost over time on such horses that fail to win is also useful in that regard.)

IMO, patience and discipline cannot be taught, they must either be inherent or self-developed, generally as a result of personal experience and frustration.

[Tom]

I pass close to 90% of the races I handicap.
I just do not see many good races in a week - maybe 1 or 2 on a good week.
Most of the time, the Lotto is a better use for my money.

[cashmachine]

IMO, patience and discipline cannot be taught, they must either be inherent or self-developed, generally as a result of personal experience and frustration.
I always do as my program says, no exceptions. Life is easy for me, I have no problems with patience or discipline whatsoever. I just blindly follow directions of my program.

[raybo]

I always do as my program says, no exceptions. Life is easy for me, I have no problems with patience or discipline whatsoever. I just blindly follow directions of my program.

There you go. Yeah, if my program says "Pass" I pass, no ifs, ands, or buts.

[Pensacola Pete]

Schnabel rarely strayed from Beethoven or Schubert in the last 20 years of his career. The man always reminds me a bit of Bob Keeshan (Captain Kangaroo).

I play about five races a week, that from the SoCal and NYRA meets. The other tracks have too many whales and pharmacists per dollar wagered for me to win.

[NY BRED]

great story of blindly betting program analysis is you can blame the
program when you get nailed

:lol:

[Moto Pete]

I pass close to 90% of the races I handicap.
I just do not see many good races in a week - maybe 1 or 2 on a good week.
Most of the time, the Lotto is a better use for my money.

While I'm not playing the Lotto I've been passing so many races I decided to take a break. It got down to 4 or 5 races a month which forced me to unsubscribe from a great monthly software program. I just couldn't justify paying around $25 a race for data. Small fields, dirty trainers, obvious favorites, and there are even more reasons contributing to my lack of action. But with a reduced workload coming up and a new daily data service I just joined I'm looking forward to getting back in the game. Hopefully with a clear head I'll be able to find more races to play.

[cashmachine]

great story of blindly betting program analysis is you can blame the
program when you get nailed

:lol:
You don't get the point: it was ME who created the program. And program has incorporated all my current understanding of handicapping, all my angles, all patterns that I discovered and researched so far. I blindly follow the program because I have nothing more to add to the analysis anyway.

[BettinBilly]

"It's not the bad BEATS that beat you, it's the bad BETS".

Yes, of course.

Like Tom, I probably pass on 90 or so percent of my capped races. And that's probably the main reason I'm still playing after close to 30 years in the sport.