Handling Losing

[onegoodday]

So my start into this has definately been a rollercoaster!Im sure this is normal risk is part of the game.I played a little bit of the end of the Hollywood Park meet,and like I had mentioned in my crash corse thread i would be playing the del mar meet.I played oppening day and skipped thursday and played today...and today i got aboslutely trashed.All of my reads the night before were falling through,I have a very compettitive personality I absolutely hate losing more then anything.However I do realize that there are no sure things in horse racing or any form of gambling so losses are a part of it.However i have some questions for those who have been around the game for a while about the losing aspect of horse racing.This board is a pretty cool cast but please no hate posts...these are legitimate questions from a beginner.

-Do you guys believe in signs,(EX you lose two races extremely close,is that a sign todays maybe a day to sit out)

-How do you guys handle losing streaks realistically?What are your strategies for overcoming them?Do you sit and wait for the perfect looking bet or do you keep grinding and hoping eventually itl turn around?

-How to stay positive during a losing streak

-And my last question im sure is a total rookie mistake,did any of you guys early in your handicapping adventure doubt some of your plays??If so how do you eliminate that doubt.

Thanks guys this board has been tremendously helpful in my starting!

[thaskalos]

So my start into this has definately been a rollercoaster!Im sure this is normal risk is part of the game.I played a little bit of the end of the Hollywood Park meet,and like I had mentioned in my crash corse thread i would be playing the del mar meet.I played oppening day and skipped thursday and played today...and today i got aboslutely trashed.All of my reads the night before were falling through,I have a very compettitive personality I absolutely hate losing more then anything.However I do realize that there are no sure things in horse racing or any form of gambling so losses are a part of it.However i have some questions for those who have been around the game for a while about the losing aspect of horse racing.This board is a pretty cool cast but please no hate posts...these are legitimate questions from a beginner.

-Do you guys believe in signs,(EX you lose two races extremely close,is that a sign todays maybe a day to sit out)

-How do you guys handle losing streaks realistically?What are your strategies for overcoming them?Do you sit and wait for the perfect looking bet or do you keep grinding and hoping eventually itl turn around?

-How to stay positive during a losing streak

-And my last question im sure is a total rookie mistake,did any of you guys early in your handicapping adventure doubt some of your plays??If so how do you eliminate that doubt.

Thanks guys this board has been tremendously helpful in my starting!
1.) There are no "warning" signs to make our lives as horseplayers any easier; every race is separate than the one that preceded it...and the day that you decide to "take off", may be that memorable day you've been waiting for.

2.) How the bettor handles a losing streak is what defines him as a player. Experienced players have seen it all before...so they know what works best for them. Beginners are advised to maintain their self-control and resist the temptation to "press" their bets, in order to get even in a hurry.

In my own play, I grind it out...but I stick to my "gameplan"...and refuse to "chase" my losses by making ill-advised bets.

Just because losing streaks are an inescapable part of the game doesn't mean that we should make them more expensive than they have to be...

3.) There is only one way to stay "positive" during a losing streak, and that is...to have the confidence that you will eventually overcome it.

How do you get that confidence?

Easy! Your experience tells you that you have done it many times in the past. Until you get this "confidence"...you will always doubt yourself.

That's why beginning players should keep their bets small. You cannot "fake" confidence; you either have it...or you don't.

Keep your bets small, until you get it...

4.) All of us doubted ourselves (and our plays) when we first started out...it's the nature of the game.

The losses will always outnumber the wins -- by a great margin...and there is nothing any of us can do about it.

The only way to eliminate that doubt is by investing the time and the effort it takes to become a winning player...and, unfortunately, it can take a lot longer than you might think.

There are no shortcuts in this game...so, again...keep your bets very small -- so you can keep your "tuition" costs at an acceptable level.

[therussmeister]

So my start into this has definately been a rollercoaster!Im sure this is normal risk is part of the game.I played a little bit of the end of the Hollywood Park meet,and like I had mentioned in my crash corse thread i would be playing the del mar meet.I played oppening day and skipped thursday and played today...and today i got aboslutely trashed.All of my reads the night before were falling through,I have a very compettitive personality I absolutely hate losing more then anything.However I do realize that there are no sure things in horse racing or any form of gambling so losses are a part of it.However i have some questions for those who have been around the game for a while about the losing aspect of horse racing.This board is a pretty cool cast but please no hate posts...these are legitimate questions from a beginner.

-Do you guys believe in signs,(EX you lose two races extremely close,is that a sign todays maybe a day to sit out)

No, if anything, if you are losing close ones, that is a sign to continue. It is when you are not close at all that you might want to reconsider.

-How do you guys handle losing streaks realistically?What are your strategies for overcoming them?Do you sit and wait for the perfect looking bet or do you keep grinding and hoping eventually itl turn around?

I tend to bet conservatively, but I don't necessarily think that is right, just my nature. But I would never look for the absolute perfect bet, as you may never bet again.

-How to stay positive during a losing streak

Through experience. With time you begin to trust that this too shall pass.

-And my last question im sure is a total rookie mistake,did any of you guys early in your handicapping adventure doubt some of your plays??If so how do you eliminate that doubt.

Yep, rookies always do. This too is overcome with experience. But that doesn't mean there isn't handicapping lessons to learn in these hard times.

Thanks guys this board has been tremendously helpful in my starting!

///

[onegoodday]

Thanks alot,a lot of good insight.I havent blown huge money at all really im sure if I told you guys what i am considering a bad run right now you would all laugh at me!Im one good wager away from being right back in things at del mar.Re-evaluating my losses a lot of them so far have been doubt.Having the right horse picked but my pick differed from the majority.I need to eliminate this doubt quickly!

[PressThePace]

You need to know yourself really well. You must be able to answer questions about your personality as it pertains to gambling.....and honestly. If you don't handle losing streaks very well, then consider a philosophy that risks little to win little. If you struggle with losing streaks and you get out of your element when this happens, then your approach is all wrong, at least for the time being. I find that this is truly what separates good bettors. Handicapping is typically not that difficult, but the psychology of betting is where the men are separated from the boys.

[lamboguy]

this is a game that brings you to your knees. i have been doing it now for almost 40 years. its alot tougher today than it was back then. the most important thing about this game still is money management. you have to be in the game no matter what to have any chance.

if you got that part down pat you now have to make up your mind if you want to be a pace and figure player or a player that goes against them. the game has about 75% of its players today that rely on either byer numbers, sheet numbers or some type of pace and figure numbers. if you want to be in those categories you have to have the best numbers and know how to use them. i chose to stay away from races that you need good numbers to compete. i like races that don't have byer numbers listed in the racing form.being that type of player takes me out of competing in pick bets like pick 6, pick 4 and pick 3. if you play those type of bets you need good numbers and know how to use them.

[PressThePace]

this is a game that brings you to your knees. i have been doing it now for almost 40 years. its alot tougher today than it was back then. the most important thing about this game still is money management. you have to be in the game no matter what to have any chance.

if you got that part down pat you now have to make up your mind if you want to be a pace and figure player or a player that goes against them. the game has about 75% of its players today that rely on either byer numbers, sheet numbers or some type of pace and figure numbers. if you want to be in those categories you have to have the best numbers and know how to use them. i chose to stay away from races that you need good numbers to compete. i like races that don't have byer numbers listed in the racing form.being that type of player takes me out of competing in pick bets like pick 6, pick 4 and pick 3. if you play those type of bets you need good numbers and know how to use them.

I totally agree with Lambo, but understand how money management, keeping records, and the psychology of gambling all fit together.

I just encountered an example of what I'm talking about. I generally play claiming races, even the cheap ones. I know that it's the caveat of my existence as it pertains to speculating on racehorses. I have already had a pretty good day, but came to the last at Emerald, where I had the #5 as a standout based on nothing more than the fact that he could open up on the field easily based on my pace info. I sat and listened to the track expert Joe Withee give out his top four selections. Guess what? The #5 wasn't one of them. Now, back in my formative years, this would have made me think twice. I would've been happy with the day I had already. But I know where my edge is based on meticulous record keeping. At 5/2, that horse was a gift. If he loses, I don't flinch to do the same thing in the same situation.

And BTW, this applies to all forms of gambling IMO. Record keeping, money management, and an edge. It's all I really need.

[jamey1977]

this is a game that brings you to your knees. i have been doing it now for almost 40 years. its alot tougher today than it was back then. the most important thing about this game still is money management. you have to be in the game no matter what to have any chance.

if you got that part down pat you now have to make up your mind if you want to be a pace and figure player or a player that goes against them. the game has about 75% of its players today that rely on either byer numbers, sheet numbers or some type of pace and figure numbers. if you want to be in those categories you have to have the best numbers and know how to use them. i chose to stay away from races that you need good numbers to compete. i like races that don't have byer numbers listed in the racing form.being that type of player takes me out of competing in pick bets like pick 6, pick 4 and pick 3. if you play those type of bets you need good numbers and know how to use them. I hate losing. It seems like I was frickin cursed. The frickin horse would just figure out a way to lose. So my solution is , not betting. I want to be like the old guy in the stands, an old story from long ago. He would sit in the stands and bet 2 to 3 times a week. Pass race after race and bet 1000 dollars to win when his spot came up . He would win half at about 5.40 avg. Anyway he was beating this game. I want to find out why horses lose ? I have researched the many reasons - 0 for 8- 1 for 11. No Top 4 Finish last 2 races, the usual suspects. there's about 20 rules. If a horse is D.Qed, meaning he fails to meet one of these 20 rules. No bet is made. But if a horse meets all of these rules.All- 20- you have a pretty good horse. On paper, it looks good. My wins on paper are like 24 out of 36. I know it's not legitimate. I was just adjusting the rules to fit the winners. That result is skewed. But hopefully good enough to get half winners. Hopefully, I will be like that old guy winning half at 200 dollars for now. Maybe one day- 1000. Find out why your horses lose and write the reasons down. We can never profit when all we see is L L L L L L L L L in our betting ledger. Get the Wins together- W W W W L W W L W L L W L .That way, we have a fighting chance. And these horses are among the Top 2 Betting choices. Longshots, just gives us a mess of L's.

[davew]

nobody likes losing


you said you are one good bet from being ahead


what kind of bets are you making? what do you expect your ticket cash rate to be (percentagewise)? What are your average cashes?

for most long term players, the goal is not to win every race/day/week
but to be ahead after a longer period of time


My 'action' bets are usually the lower returning bets, and I always ask myself before placing a bet, if it follows my current plan -

and how much of my bankroll is involved with this horse/race - as even if I take a week/month/year off from racing, there will be a race somewhere I can bet on when I am ready

I remember in the past only liking 1 race in a card - it hits, but I go home loser that day from the other crap bets I made

[lamboguy]

I totally agree with Lambo, but understand how money management, keeping records, and the psychology of gambling all fit together.

I just encountered an example of what I'm talking about. I generally play claiming races, even the cheap ones. I know that it's the caveat of my existence as it pertains to speculating on racehorses. I have already had a pretty good day, but came to the last at Emerald, where I had the #5 as a standout based on nothing more than the fact that he could open up on the field easily based on my pace info. I sat and listened to the track expert Joe Withee give out his top four selections. Guess what? The #5 wasn't one of them. Now, back in my formative years, this would have made me think twice. I would've been happy with the day I had already. But I know where my edge is based on meticulous record keeping. At 5/2, that horse was a gift. If he loses, I don't flinch to do the same thing in the same situation.

And BTW, this applies to all forms of gambling IMO. Record keeping, money management, and an edge. It's all I really need.
the horse you picked in emerald was more than eligible to win that race, he should have been the favorite in my mind and not only because he figured to have the lead. if you look back the last race he won, he won against better horses than the rest of the field that he was facing. the 2 horses that had more wins won condition races. while roaring to go faced multiple winners. i don't want to claim that i am smart either, i won on that race too because most that played the race were dumb. if you bet horses that edges in races you won't go on prolong losing streaks. if you base all your handicapping on numbers you will go clean as a clam. i hope you guys don't get mad at me for trying to explain something here. i have been thrown off of 3 different threads this week and have been accused of using this board to turn it into me only and only me. that could not be further from the truth.

[lamboguy]

I hate losing. It seems like I was frickin cursed. The frickin horse would just figure out a way to lose. So my solution is , not betting. I want to be like the old guy in the stands, an old story from long ago. He would sit in the stands and bet 2 to 3 times a week. Pass race after race and bet 1000 dollars to win when his spot came up . He would win half at about 5.40 avg. Anyway he was beating this game. I want to find out why horses lose ? I have researched the many reasons - 0 for 8- 1 for 11. No Top 4 Finish last 2 races, the usual suspects. there's about 20 rules. If a horse is D.Qed, meaning he fails to meet one of these 20 rules. No bet is made. But if a horse meets all of these rules.All- 20- you have a pretty good horse. On paper, it looks good. My wins on paper are like 24 out of 36. I know it's not legitimate. I was just adjusting the rules to fit the winners. That result is skewed. But hopefully good enough to get half winners. Hopefully, I will be like that old guy winning half at 200 dollars for now. Maybe one day- 1000. Find out why your horses lose and write the reasons down. We can never profit when all we see is L L L L L L L L L in our betting ledger. Get the Wins together- W W W W L W W L W L L W L .That way, we have a fighting chance. And these horses are among the Top 2 Betting choices. Longshots, just gives us a mess of L's.pretty smart. the only thing i can add to this post is the number 1 rule of gambling or investing in anything is not to lose.that is more important than winning. loss of oportunity is always better than loss of capital.

[Stillriledup]

Since racing is basically built around many 'nose decisions' per day, losing by a nose is just a normal part of any handicappers' ups and downs. But, because the margin of loss is so small, we just think that we lost X amount of dollars by 1/100th of a second and 'what if' my horse or jockey would have just been one step faster and its natural to beat ourselves up over it. Its important to train yourself to not to think that every nose loss or every DQ is a 'bad beat'. A bad beat is an event that is rare, something that happens once in a long while. In almost every race, there's very close finishes, it happens too often and to too many people to be considered a 'bad beat'. View it as a loss and not a bad loss.

As far as confidence goes, i think that if you really and truly 'get it' than losses are losses and your deep seeded belief that you have the tools to break even or show a small yearly profit in this game will be what can get you to feel differently about losing.

There are all sorts of levels of horseplayer, there are 1's and there are 10's and everyone else in between. The key to your success, if you're destined to have any as a bettor, is the ability to really 'see' and define in your mind what things mean. When you win you have to know exactly why you won and when you lose, you need to know exactly why you lost. This game is a pursuit of constant trial and error. The very best players have the abillty to know exactly why they lost and to have a steel trap memory and to know the next time they see a somewhat similar situation, they'll vividly remember the mistake they made and won't let it happen again.

Another key to being a complete horseplayer, i believe, is to really understand that you're going to lose many more bets than you're going to win. A .300 hitter in baseball is considered a great player, even though he's failing 7 out of 10 times. The key to this player's .300 average is to be able to not let the 7 times he fails affect the 3 times he doesnt fail.

If that "great" baseball player loses his confidence when he goes 7 bats in a row without a hit, its quite possible that will affect his ability to get 3 hits out of every 10. There could be a hitter out there who has the physical tools to hit .300 for his career average, but he's only a .250 hitter because of all the AB's he's wasted being down on himself for failing 7 out of 10.

By DEFINITION, he's going to fail 7 out of 10. By definition, if he fails 7 out of 10, he's got a great chance to be a hall of famer. The key is to deeply and proufoundly understand that 7 failures out of 10 means great success and to not let those 7 failures affect the chances in any way of the 3 successes.

[PressThePace]

the horse you picked in emerald was more than eligible to win that race, he should have been the favorite in my mind and not only because he figured to have the lead. if you look back the last race he won, he won against better horses than the rest of the field that he was facing. the 2 horses that had more wins won condition races. while roaring to go faced multiple winners. i don't want to claim that i am smart either, i won on that race too because most that played the race were dumb. if you bet horses that edges in races you won't go on prolong losing streaks. if you base all your handicapping on numbers you will go clean as a clam. i hope you guys don't get mad at me for trying to explain something here. i have been thrown off of 3 different threads this week and have been accused of using this board to turn it into me only and only me. that could not be further from the truth.

I think the fact that Trujillo took off of the mount to ride the #1 threw people.

[Fort Erie Fanatic]

I always set a bankroll limit before I head to the track. This is very important when you're in a losing streak because it stops you from chasing your losses. Whether or not the losing streak is caused from variance in your system will take more investigation. I would suggest lowering your bets until you feel more comfortable with your selections. At that time you'll know if any adjustments are needed.

The funny thing is, is that I'm currently in a losing streak as well. For the first time this year I'm in the red. It sucks, but you just got to find the discipline to continue betting smartly.

Good Luck.

[Track Collector]

As others have already said, only experience will tell you if your current losing streak is a subset of a longer, overall winning play. Also good advise (which I personally have trouble following myself :() is to cut down on your wager unit size. If things turn around, you will win a little less than with your normal wager unit size. If things do not turn around, you will have saved significant bankroll funds for future attempts.

While confidence and determination are a good thing, these two traits will not help you one bit if your selection (wagering) criteria is flawed. This, in my opinion, is the hardest and most risky aspect of handicapping.

[Robert Goren]

Thanks alot,a lot of good insight.I havent blown huge money at all really im sure if I told you guys what i am considering a bad run right now you would all laugh at me!Im one good wager away from being right back in things at del mar.Re-evaluating my losses a lot of them so far have been doubt.Having the right horse picked but my pick differed from the majority.I need to eliminate this doubt quickly! I know people who have been that way for 30 years. By now that is 10k on a 20/1 shot. That kind of thinking is a trap. Second guessing your picks is never the problem.(When claimed that you forget all the times that your second guessing was right.) It is your picks in the first place. You don't need to have confidence in your picks, you need to have picks you can have confidence in. There is a difference. You don't second guess picks you believe in.

[InsideTheRaces.com]

I think what happened to you was the track and surface switch. Handicapping is much easier when all the entries have PP's that are on the current track and surface. People love Delmar and Saratoga because of the big prices. The reason for the prices is the full fields and the Track and surface switch. For me the first couple of weeks are the toughest to play and as the meet continues it gets easier for the handicapper and the trainers to pick their spots. Play on paper until you start picking winners again. I don't have the patience so I burn money until I get it figured out or give up.

My best long shot winner ever was at Saratoga in 2005. Stock Tip $200 to win I got back 11k. To bad I couldn't hold on to it. It took a year but I gave it all back to the track.

[onegoodday]

This board is great,thanks alot for taking the time to respond.Its hard to find anyone outside of the track to talk horses with.One thing I should add,this isnt paying the bills.This is simply a hobby I have decided to pick up.I picked this up because im simply enthralled by the SPORT of horse racing.The pagentry in the big races,the game itself intrigues me.And since i am just getting my feet wet,i am making small wagers.And I wont lie to you and say im playing all sort of crazy exotics at high prices...the majority of the time I am playing 2$ win tickets,with the occasional daily double or pick 3.I do realize that the money is in exotics,but my confidence is going to have to be firm before i start really pursuing these types of wagers.My problem was simple,I was refusing to trust my gut.Id change wagers if the public was overwhelming...which friday got me f****** killed.Im beggining to believe that i would feel better getting beat at a good price,i think that at the end of the day if i just stick to my guns and be confident i can walk away after the race and say "Yea I didnt win but that horse was in it and it was at good odds"If this is the case then i can shrug the losses off.Im just sick of losing money on 4/5 favorites because the public likes them.I believe like any form of gambling this game requires uniqueness,a way to seperate yourself from the rest.Friday was discouraging but it was a very minute speedbump.Im giving it another go tomorrow it looks like.
Also if anyone has any information on exotics...(strategy) id love to read some.The last book i read covered it but not as much as i would have liked id love to read more on it!Thanks guys!:ThmbUp:

[Tic-Tac]

Just pace yourself i have lost more money in horse racing then you will believe it to me is the most addicting form of gambling because there is races every minute all day everyday and the huge payouts make it very very hard to manage your money correctly... Many of my friends will say your the best capper i no i pick tons of winners but my money mgmt sux so im down houses lol that was in my 20's now in my thirty's i have a limit and have stuck by it but it is not hard to do i bet sports everything nothing comes close the the addiction of the pony's

Gluck

[Tic-Tac]

Atleast you have started out small i got into this game with the sports betting mentality 100 wp each race than 200 than chasing with 4-500 wish i would of been putting that money into pk3-4-5-6's but didnt for years

[BELMONT 6-6-09]

This great game we love is dependant on emotional control, which imo is 90% of the game. Start each day with a plan (1) the prime bets and how much to play and (2) the action bets and how much to play. this strategy allows a player to be in control of his campaign of risking more of his capital on prime bets where the return is greater while the action/income wagers afford the opportunity to wager on without any guilt as they are smaller amounts.

[windoor]

So my start into this has definately been a rollercoaster!Im sure this is normal risk is part of the game.I played a little bit of the end of the Hollywood Park meet,and like I had mentioned in my crash corse thread i would be playing the del mar meet.I played oppening day and skipped thursday and played today...and today i got aboslutely trashed.All of my reads the night before were falling through,I have a very compettitive personality I absolutely hate losing more then anything.However I do realize that there are no sure things in horse racing or any form of gambling so losses are a part of it.However i have some questions for those who have been around the game for a while about the losing aspect of horse racing.This board is a pretty cool cast but please no hate posts...these are legitimate questions from a beginner.

-Do you guys believe in signs,(EX you lose two races extremely close,is that a sign todays maybe a day to sit out)

-How do you guys handle losing streaks realistically?What are your strategies for overcoming them?Do you sit and wait for the perfect looking bet or do you keep grinding and hoping eventually itl turn around?

-How to stay positive during a losing streak

-And my last question im sure is a total rookie mistake,did any of you guys early in your handicapping adventure doubt some of your plays??If so how do you eliminate that doubt.

Thanks guys this board has been tremendously helpful in my starting!


Late to the party as usual, but my new research tools have been keeping me busy.

My two cents:

Do I believe in signs, as to how the day is going to turn out?

Only in hindsight, never as the day unflolds.

I do believe in Karma. A Quick example. (Well, it seemed liked it was going to be quick when I had the memory, now it looks like another novel. Sorry!)

On my way home from work, the homeless person is on the corner with the cup out.
I usually just blow on by, as most of these are just scams and people doing it, make more money than a lot of hard working 40 hour a week people.

I don’t know why, but I pulled out some bills from my “Lunch Money Tray”, ( a little easy access compartment in the car ) and handed them over as I drove past.

I got back to the house just in time to see a turf race I had an interest in.

My 25 to 1 shot was coming down the stretch in the 3rd position with my exacta horse right behind. They were clearly beaten by the two horses in front until the first horse cut off the 2nd one so badly, that the jockey was nearly unseated trying to avoid him. My horses go by easily, but do not catch the winner.

End result is the winner gets disqualified and I cash a $50+ horse and a $700+ exacta.

What do you think the odds of that happening are? Especially with a 25 to 1 shot. I believe it was Karma. I have many more examples like this, but this on always sticks out.

The definition I believe in, is that good Karma comes from helping a living thing improve its quality of life, and/or benefit from some action you took.

And of course the reverse is true. Hurt something through you actions (especially if deceitful and benefits you) and you will pay for it, one way or another.


How to handle losing steaks.

There are four parts to becoming successful at this game (yes, yes, I know, “in my opinion”) Surviving the losing steak is number 4.

In order to survive it, you must first understand it, and that can only come through experience or research. Experience is a great teacher, but is often painful and expensive.
I recommend doing the research. Time consuming? Yes. But can save you many dollars and heartaches in the long run.

How to stay positive during a losing streak.

They are never fun, but after going through 38 straight losses and coming out of that one, the rest are a walk in the park. Lately I have been ignoring the results until the end of the week. They are just numbers that need to be added and subtracted and let Excel do that for me.

I am now only interested in the quarterly results. I do take an interest if the bank draws down fifty units from a previous high, but other than that, its pretty routine stuff.

Do I have doubt with some of my plays?

Every one of them. I never know what race I will win, only that over time I will win approximately 27% of them at the expected average odd. That’s good enough for me.


Regards,

Windoor.

[Suppositionist]

A losing streak is more accurately termed a bad handicapping/bad money management streak. Identitfy the cause(s) of why that's happening (talent, lack of knowledge, bad habits etc.) and you can usually stem the tide.

[CBedo]

Losing streaks are easy to handle if you have faith/believe that your methodology is a positive expectation strategy. If you've done the work and believe what you are doing is the right thing to do, then you should have no problem dealing with streaks as just short term random noise that will eventually give way to more positive results.

It's amazing how having "done the work" takes a good piece of emotion out of the decision making process.

[salty]

I swear that every day I always start off losing. I notice even more in weeks I always do bad early in the week then better near saturday. This is just the way things go for me everyday no matter what game i play. When I play some texas hold'em I useualy somehow manage to blow my first buy in, then my second buy in, then all of a sudden after my third buy in I make all my money back plus a good profit.

So the key to overcoming the losing streak is to forget about it and just keep going. If I just stopped after i lost my first 8 bets of the day then shrunk my bets or changed anything then it throws the whole chance of making the money back. From experience, a day where I watched my best horse of the day cross the line at 10-1 and I only had $5 to win on it instead of the $25 I planned on betting, because the first few races were so terrible, my horses finishing dead last. After that race I should have had a nice profit but instead I might have just barely broke even maybe even still down a few bucks.

Thats when I decided not to change my bets ever. If I really feel the need to change my bet I just don't make it. One good example is if you were to be betting saratoga one day and ten minutes to post there is a massive downpour. There is a sure thing mudder in the field with a scary sloopy track record and your best choice hasn't done well in 3 starts on the mud. DONT BET AT ALL, don't get sucked in. Making a quick decision where you are at right now would be very tough. It really hurts when your original choice beats out the horse you switched for. My last two switches cost me $800 and $300. I try not to do it but sometimes I don't trust what i wrote down when I was studying the form at 3 in the morning after i got out of a ten hour shift.