What is the best advice you have been given?

[Overlay]

On handicapping:

"Even though there is no such thing as a 'sure thing', there definitely are 'sure types'. . . .Although, overall, horses win in accordance with their odds, certain types are overlays, and others underlays. . . .Is the horse worth its price? Are the odds commensurate with the horse's chance of winning?" (William Quirin)


On money management:

"Never make a wager unless the expectation is positive." (Dick Mitchell)

[raybo]

I think Pittsburgh Phil said something like "A good horse, at a good price, is a good bet". My mentor told me from the beginning "If the risk is higher than the potential reward, don't invest".

[classhandicapper]

"Look through your records over the last couple of years and see how you would have done if you never bet any horses under 3-1".

[magwell]

Never bring you wife or girlfriend or even your mother to the track........

[BettinBilly]

1986-ish, at the track with my girlfriend.

I was upset about losing every damn race so far and was bitching about it while we were in line to place another bet. An old guy standing behind me in line said to me (and this is pretty damn close);

"Son, you are at a horse track betting on horses. There are only four rules in life when it comes to betting on horses. 1.) YOU place the bet 2.) HORSES do the running 3.) YOU win some you loose some 4.) THAT'S why they call it GAMBLING"

[JohnGalt1]

Originally Posted by Greyfox

"If what you are doing isn't working, do something different."

Greyfox

I'd like to add to or modify this statement.

When I am winning and decide to add additional factors to my method or tweak it and I turn winning days into smaller winning or non-winning days, this is how I would modify your statement---

[B]If what you are doing isn't working now but used to work, go back to what you were doing.

I do agree with your original statement that if What you are doing has NEVER worked, do something different.

[appistappis]

All horse players die broke.

[therussmeister]

"Determine which handicapping factors the crowd understands poorly, or not at all, and make that the foundation of your handicapping methodology."

[BELMONT 6-6-09]

Never again make a bad percentage play!

[Stillriledup]

Originally Posted by appistappis

All horse players die broke.

Geez, if that was the best advice you got, i'd hate to hear the worst!

[Maximillion]

Cant really put my finger on the best advice I ever recieved.

The worst....and this is strictly speaking for myself,was to solely focus on one track/circuit.

I completely understand and respect those that follow this path....but I know it would never work for me.

[Fingal]

Originally Posted by lamboguy

right from my mother's mouth--THOSE THAT TELL DON'T KNOW, AND THOSE THAT KNOW DON'T TELL

her words apply to more than horse racing

Gordon Gecko in Wall Street

" The most valuable commodity I know of is information"

It's how one handles & takes from the information he or she sees that determines success, because everyone views the same words be it book, video or seminar. But not everyone knows how to look into those thoughts & then expand them with their own concepts.

When everyone knows everything, it's useless.

That's how 6/5 shots are born.

[LottaKash]

Originally Posted by Fingal

When everyone knows everything, it's useless.

.

" Stay thirsty my friend "....

[PhantomOnTour]

Son - if you meet a woman who all the men like but very few women do.
Well, she ain't nothin' but trouble.

[thaskalos]

"Never play cards with a man called Doc.

Never eat at a place called Mom's.

And never lie down with a woman who has more problems than you have..."