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Quitting while you're ahead is actually a good strategy for an amateur gambler if it means that overall they will bet less money considering all their gambling over their lifetime because they are less exposed to the house edge.
But it is not a strategy that can assist a gambler in achieving long term winnings.
People who say it is a winning strategy are imagining there is a gambling clock and when they stop for the day they have stopped that clock.
But then they come back tomorrow. So they are believing that they are more likely to win on a Wednesday than they are continuing to play on Tuesday.
That is 100% false. They are no more likely to win on Wednesday than they are if they kept playing on Tuesday.
There is no gambling clock. It doesn't exist. And nobody can turn off just the time of losses. It is a figment of the gambler's imagination.
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