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Thread: John Grochowski writes about money management.

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  1. #9
    I will point out the obvious one final time. I have never said win goals and loss limits are a bad thing for people who play negative expectation games. If they reduce number of hands played, they will save you money. If they lead to playing more hands, they will cost you money. If you play the same number of hands, they have no effect. For people who play positive expectation games and are sufficiently bankrolled, they are irrelevant. I feel stupid using the phrase "sufficiently bankrolled," because that should be a given, but evidently many people get some sort of "thrill" out of having a bankroll too small for their denomination.

    Alan's use of language has changed somewhat. He now says win goals and loss limits allow him to "control his losses." That much can be true. If you are unable to control your losses by setting the alarm on your watch or deciding you want to see a show, then loss limits help you.

    On the other hand, Alan also is using the curious phrase "maximize my wins." This is, I believe, incorrect, as one never knows what the final outcome of x number of hours of play will be. So shutting down a session because you have won a certain number of dollars does not necessarily "maximize one's wins." In fact, it actually limits one's wins. Just as loss limits set a floor, win goals set a ceiling. They do not "maximize one's wins."
    Last edited by redietz; 06-28-2013 at 09:03 PM.

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