EXPERIMENT PART II

[joeyspicks]

First: I no longer actually use this type of due column money management.

reasons: the critics are correct.........when the bet size gets bigger its pretty much impossible to handle. Dick Schmidt is correct (again).....the goal should be to be ABLE to make the maximum bet and let your edge take care of it.

I had a lot of question about my method......at this time its a VERY modified version.....basically flat bets with a WEEKLY adjustment.

The point of the post was to make anyone out there who has been losing money consistently (you know who you are).,....aware that there IS a way to change your momentum. All the plays with my nephew were real actual plays and he really made the first long term (2 months:?) profit in his life.

I LIVED THIS MYSELF. About 6 years ago I JUST GOT SICK AND TIRED of losing and was ready to quit. I read everything I could get my hands on and a Lou Holloways due column method set me on this course. It actually took me three trys. I started at $20 objective (laughable now) and busted quickly. I went down to $10 and lasted a little longer ( my start was about $240). Finally in total desperation I went to a $2 objective. The psycological pulls and pushes where AMAZING and enlightning. It was only because of my sheer determination to try this that I STUCK THROUGH those early days. This all came back to me this past 2 months with my nephew. But at the end of the first month I had made $560.

month 2 + 680 now I HAD ABOUT $1400

month 3 <400> I GOT FANCY AND OFF THE METHOD:bang:

month 4 +650

by the end of the year I HAD A PROFIT OF $7200

and more importantly it changed my life.

....................................
So due column is NOT the holy grail.....but

IF

*you are losing money every year
*have been losing for years
*are tired of it

THEN
this type of money management can work for you.....IF you are truely ready for change. ITS HARD........EXTREMLY HARD......but NOT how you think.....its your own mind and emotions that MUST be conquered.

Ask yourself:

Did you earn $7000+ net profit last year ? ? ?
Do you want to?
Are you willing to humble yourself down to a $2 objective?
Can you pick 25% winners??
can you handle the discipline??
are you interested in change ?
Can you change your perspective from short term to long term ?
Are you willing to be bored (and profitable?)

I did this for 2 years...........earnings $16000+ NET

Can a $16000 "bank" make a diference in your play ?

If you are earning money.....discard:ThmbUp:

Note: I of course know handicapping is important.........it just has to be COMBINED with MONEY MANAGEMENT AND EMOTIONAL CONTROL.

I recommmend reading anything by: Dick Schmidt
Lou Holloway
Jerry Samovitz (spelling ?)



Again this is for those who are READY for change. I wanted to pay back this board for all the help I received when looking for software. I know some are struggling. This IS just ONE of the ways out!

Good Luck,

Joe

[nobeyerspls]

Interesting post Joeyspicks

I think the Due Column thing is for people betting to win so it's mostly not for me. I can't find twenty plays in a day even looking at four tracks and I never bet a horse straight if it's under 7/2. My strategy is to bet a little to win a lot so I leverage through exotics.
I keep daily records on an excel file so I know where I am month to month and year to date. My objective is to pull $20,000 out of the tracks over a calendar year and I am behind that pace so far this year. Nonetheless, unless things turn abnormally bad, I should finish in the plus five figures and might even make my goal.
This game is 50% handicapping and 50% money management. Those that enjoy the thrill of a lot of action will get killed. You need to bet those races that provide the best returns for you (maidens, nw2, turf for me) and avoid races and tracks that your records show to be difficult. If I had to bet Laurel all the time I couldn't afford a bus ticket to the poorhouse.
My records show that out of every three trips to the track, I lose twice and win once. Because my downside is limited and upside is not, I do very well if I maintain that ratio. My advice to your nephew would be to make fewer bets and skip all races where his pick is the favorite. It's like an at bat in baseball with nobody calling balls and strikes. Wait for your pitch and hit it out of the park.

[Doug3312]

Joey,

I am one of those struggling and I am picking about 30% right now, but not making money. Where do we find a copy of the due column?

Thanks for your post!

[joeyspicks]

Doug, I sent you a private message.

The due column is a simple method, that has many variations. The one I used is very basic and if you start small and look long term it can help you build to a bigger bank. Its problems have been well documented........but I think if you are well funded and start small and you have a handicapping edge you wont have a problem.......unless you get bored or try to rush the process. If you commit for a longer term (say at least 6 months....but ideally longer....I went 2 years) you can overcome the boredom.
The due column method requires that you know the results of the last play and the odds of the current play.....so its hands on.....every day that you play...this can be problem for some....and tiring for others......its most definitly one of the weakness's of the method for me. You simply cannot make your plays ahead of time. This eventually becomes a big turn-off and I believe one of the reasons why many dont like the method...(that and once you do have a bigger bank....this method becomes pretty impossible).

Having said that I think its ideal for someone wanting (NEEDING) to turn their game around. Tired of the money-drain etc.......YOU MUST BE TIRED OF WHAT YOU ARE DOING OR YOU MOST LIKELY WILL NOT STICK WITH IT. Why?
Well its very different from the way most players spend there day.....handicappping....looking for the long shot or the "key" horse to build exotics around....etc etc etc. Its most definitely NOT exciting. Wait till you hit a $30 bet on a $12 horse and then the next play is $2 ? ? ? My nephew thought I was insane......and you should have seen the look on his face when the longest shot we hit (10-1) had exactly $2 on him. But thats what the method requires. The reward? ?

profits !!!

use it for 6 - 12 months to build your bank (say $5000+)

then go from there.

What did you do the last 6-12 months?

the previous ???

you must change something to get different results......

If you are already profitable......you do not need this....(obvious)

But many fool themselves into thinking because they had a profitable week-end or week or month even that they are doing alright. But look at the books
with unwavering eyes.....see the truth.

And if you want to change this is just one way that you can do it.

commit
start small
stay the course
think long term

Next year at Saratoga time.......wouldnt you LOVE to go with about a $8000+ bank ( not borrowed, not equity, not from your savings......but earned from your "business" ) ?

[Doug3312]

Thanks Joey. I was not able to figure out how to reply to your private message, but thanks again!:ThmbUp:

[ryesteve]

I think if you are well funded and start small and you have a handicapping edge you wont have a problem.......If you commit for a longer term (say at least 6 months....but ideally longer....I went 2 years)
During those two years, what was your longest losing streak? Even if you're hitting at a 20%-25% clip, if you're making 100 bets a week for 2 years, it seems statistically inevitable that at some point you'd hit a spot where you ended up on 15-20 losers in a row, which would've sent your bet size skyrocketing. I'm curious to know if somehow you avoided that.

[joeyspicks]

My win rate was usually 30-35%. Even so I did hit a losing streak of 14 and several of 10-12. I had enough capital to "ride the storm" out as I had started with a very small objective ($2). Its also why I no longer use this method as my bet size has grown. IF you start small and have a LONG TERM (say at least 6 months )objective to build the bank this is a good method to do so. It also changed the direction I had been heading and improved my discipline. If you had looked at a graph of my "profitability" for the 10 years prior.......and then for the next two years you would have had to ask "what the hell changed" ? :lol: