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08-27-2018, 05:35 PM
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#1
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Registered User
Join Date: Jun 2005
Posts: 218
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SELF ANALYSIS
How do you combat your loosing streaks? Like personal psychological conflicts self analysis is not a valid and impartial means of resolution. So is having a handicapping coach or a buddy system the best remedy? Pitfalls can reside in one's handicapping, betting or both. Who do you turn to when things go south? I know this subject gets much chatter over time but i need to hear new and old replies again. Thanks
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08-27-2018, 08:08 PM
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#2
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Registered User
Join Date: Dec 2005
Location: Palm Beach, Florida
Posts: 2,465
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Quote:
Originally Posted by PIC6SIX
How do you combat your loosing streaks? Like personal psychological conflicts self analysis is not a valid and impartial means of resolution. So is having a handicapping coach or a buddy system the best remedy? Pitfalls can reside in one's handicapping, betting or both. Who do you turn to when things go south? I know this subject gets much chatter over time but i need to hear new and old replies again. Thanks
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First, beware of the common tendency to want to win back your losses quickly. This is the opposite of what you should do. You should greatly reduce or stop your betting while you take time to re-tool.
The next step is acknowledging that the root of many of your fundamental beliefs, that are the basis of your handicapping, is psychological rather than logical. This is true of everyone to some degree. Then you have to reexamine them but be being aware of the fact that these emotionally based beliefs are very good at masquerading as logical so you have to work very hard at learning to distinguish between the two. Use studies as a basis for your handicapping and try to debunk many of the commonly held beliefs. Ideally, do your own research but first be sure you understand the principles behind doing research. I find that handicapping is probably one area that is most loaded with myths and irrational principles. It's right up there with religion and politics as far as stubbornly held irrational beliefs Try to hunt them down and be rid of them.
It's also helpful to use your friends as a sounding board in examining these beliefs. Reaching out on this board could be another source of help but remember that many others' opinions are also irrational though they believe them to be logical. Beware of false authorities. For example, trainers and jockeys are terrible handicappers in a sport where myths are rampant.
Good luck on your quest and don't hesitate to ask questions here.
Last edited by bobphilo; 08-27-2018 at 08:13 PM.
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08-27-2018, 08:53 PM
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#3
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Join Date: Aug 2016
Location: Fergus,ON
Posts: 3,724
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Quote:
Originally Posted by PIC6SIX
How do you combat your loosing streaks? Like personal psychological conflicts self analysis is not a valid and impartial means of resolution. So is having a handicapping coach or a buddy system the best remedy? Pitfalls can reside in one's handicapping, betting or both. Who do you turn to when things go south? I know this subject gets much chatter over time but i need to hear new and old replies again. Thanks
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As a young pup (16 years old) I tend to stop and rethink what I am doing. I go back through my books, reread my winning day pps, look at my betting history, pray (litterally for good luck), ask my other olderhorseplayer friends, research or possibly buy a new book. Whatever possible to improve or find something new. Hopefully this helps. P.S don’t also go over your budget.
__________________
Handicapping the world year round'
-Conley
Last edited by CheckMark; 08-27-2018 at 08:55 PM.
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08-27-2018, 08:57 PM
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#4
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Registered User
Join Date: Feb 2006
Location: Houston Tx.
Posts: 3,130
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Quote:
Originally Posted by PIC6SIX
How do you combat your loosing streaks? Like personal psychological conflicts self analysis is not a valid and impartial means of resolution. So is having a handicapping coach or a buddy system the best remedy? Pitfalls can reside in one's handicapping, betting or both. Who do you turn to when things go south? I know this subject gets much chatter over time but i need to hear new and old replies again. Thanks
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I pray while sitting on the toilet.
__________________
Laboratory rats are susceptible to drug addiction, obesity, diabetes, heart disease and cancer.
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08-27-2018, 09:05 PM
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#5
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Join Date: Mar 2001
Location: Reno, NV
Posts: 16,912
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How I react to losing is best described in this Facebook post I made today.
Quote:
The good news: It has taken me the better part of 4 months but I've got myself back to where I am winning again.
The even better news: I stopped playing when I saw how things had changed, so, with the exception of the 3 consecutive losing sessions I had back in March/April, I didn't lose much money.
This week will be my first trip back into "The Pit." Very shortly I should see what's-what.
That also means that I'll be able to have more time to spend on helping you guys once again.
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My hit rate is "sessions" is 73%. For me to lose 3 in a row, that is a 1-in-20 event. It does happen.
But in these 3 sessions, my horses were just not coming out of the gate. It was a different world. Just never got a call.
This caused me to re-work the entire process. Ironically, I came back to almost exactly the same process as before except I now bet THE LOSERS instead of the winners!
I know that sounds crazy, but I am concentrating on the BAD BETS instead of the good ones. My return seems to be back to normal.
We'll see.
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08-28-2018, 10:23 PM
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#6
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Registered User
Join Date: Jan 2006
Posts: 28,562
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Quote:
Originally Posted by PIC6SIX
How do you combat your loosing streaks? Like personal psychological conflicts self analysis is not a valid and impartial means of resolution. So is having a handicapping coach or a buddy system the best remedy? Pitfalls can reside in one's handicapping, betting or both. Who do you turn to when things go south? I know this subject gets much chatter over time but i need to hear new and old replies again. Thanks
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Having a close friend with vast gambling experience is a startling advantage...IMO. Some years ago, I complained to a professional online poker-player friend about my losing streaks and my bad beats at the track...and he invited me over to his house for a gambling demonstration. When I got there...he had me watch while he simultaneously played in two high-spirited online PLO poker games, for serious stakes. When I saw the horrendous bad beats that this man endured in a relatively brief period of time, and the calmness with which he combated this ordeal...I couldn't help but convince myself that I had no right to complain about the milder gambling downturns that I was experiencing in my own game of choice. I remember telling myself that, if he could lose thousands in mere minutes without losing his composure...then I should be able to shoulder my own gambling burden without falling apart...otherwise I didn't deserve to call myself a "serious gambler". To this day...a photograph of my poker-playing friend sits right next to my computer...as a constant reminder.
__________________
"Theory is knowledge that doesn't work. Practice is when everything works and you don't know why."
-- Hermann Hesse
Last edited by thaskalos; 08-28-2018 at 10:24 PM.
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08-29-2018, 01:42 AM
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#7
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Veteran
Join Date: May 2016
Posts: 1,831
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No doubt your friend had bad beats, but poker is a game where you play hundreds of hands in a day. Things tend to even out a lot quicker that way .
Horseplayers on a losing streak for whatever reason, endure WEEKS or longer of losing.
No comparable on an emotional level imo .
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08-29-2018, 02:08 AM
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#8
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Registered User
Join Date: Jan 2006
Posts: 28,562
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Quote:
Originally Posted by AltonKelsey
No doubt your friend had bad beats, but poker is a game where you play hundreds of hands in a day. Things tend to even out a lot quicker that way .
Horseplayers on a losing streak for whatever reason, endure WEEKS or longer of losing.
No comparable on an emotional level imo .
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The poker-playing friend that I mentioned above, who is a bona fide "pro"...lost 42 full buy-ins in a 3 week period of time. Look at the performance charts that the best poker players keep...and you will see steep downturns that last for MONTHS.
When it comes to gambling...the horseplayer's variance swings cannot compare to those of the poker player. The smallest poker game currently offered at the casino will require you to risk a couple hundred dollars on a single poker hand at some point in the game, the very first day that you sit down to play. The vast majority of the horseplayers haven't bet $200 on a single play in their entire LIVES.
__________________
"Theory is knowledge that doesn't work. Practice is when everything works and you don't know why."
-- Hermann Hesse
Last edited by thaskalos; 08-29-2018 at 02:16 AM.
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08-29-2018, 09:59 PM
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#9
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Veteran
Join Date: May 2016
Posts: 1,831
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I know very little about poker, so I take your word that there are long losing streaks, though I'd think that quite rare.
Let me ask you this, How many serious poker players are profitable Vs the same class of horseplayer.
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08-30-2018, 11:34 AM
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#10
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Registered User
Join Date: Sep 2007
Location: Syracuse, NY
Posts: 26
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Quote:
Originally Posted by PIC6SIX
How do you combat your loosing streaks?
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Great question. This games requires a willingness and ability to operate with ice running through my veins. Otherwise emotions begin to overrule intellect and the losses are exacerbated.
When things go south, I have to remind myself I'm a solid handicapper who can only do X,Y, and Z. The rest I have to let go of. I have no control over the outcome of a race. At the risk of sounding pompous: I tell myself that (because of my disciplined approach and years of experience), I'm an extraordinary horse player.
It's critical that I not lose confidence in my abilities.
And should the ROI continue to flash red, I walk away. Sometimes for years. In fact, I'm just returning to the game ... dipping my toe back in ... after being away for many years.
I'm interested in reading other responses to this question
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08-30-2018, 02:11 PM
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#11
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Registered User
Join Date: Feb 2003
Location: NE Ohio
Posts: 16,487
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IMO, bad beats in poker or blackjack pale in comparison to photo finish losses or DQs where thousands of dollars could be impacted. Same thing with sports.
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08-30-2018, 02:16 PM
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#12
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Registered User
Join Date: Feb 2003
Location: NE Ohio
Posts: 16,487
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Quote:
Originally Posted by PIC6SIX
How do you combat your loosing streaks? Like personal psychological conflicts self analysis is not a valid and impartial means of resolution. So is having a handicapping coach or a buddy system the best remedy? Pitfalls can reside in one's handicapping, betting or both. Who do you turn to when things go south? I know this subject gets much chatter over time but i need to hear new and old replies again. Thanks
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I started studying card counting a couple years ago and it has made me a better all around gambler. The BJ (and probably poker books as well) books really address variance much more than most horse racing handicapping books.
When you fully understand variance, you will realize there will be losing streaks in racing, just as you will never hit 60% long term betting sports. It's possible in blackjack to be making 100% accurate decisions and betting correctly and still lose. The main difference is in horse racing, you don't know if its all variance or all bad decision making. Likely a bit of both.
Last edited by Valuist; 08-30-2018 at 02:17 PM.
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08-30-2018, 02:39 PM
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#13
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Registered User
Join Date: Jan 2006
Posts: 28,562
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Quote:
Originally Posted by Valuist
IMO, bad beats in poker or blackjack pale in comparison to photo finish losses or DQs where thousands of dollars could be impacted. Same thing with sports.
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IMO...it depends on the bets that the respective gamblers make. In the poker games that I habitually sit in, the "bad beats" impact thousands of dollars on a regular basis...and I typically find myself on the receiving end of one several times a week. Mercifully...this occurs a lot less often when I bet the horses. Plus...it cost me a lot more of my own money whenever I suffer a bad beat in a poker game.
__________________
"Theory is knowledge that doesn't work. Practice is when everything works and you don't know why."
-- Hermann Hesse
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