Is there a way? or rule? Loss Recovery

Don't chase your losses, it doesn't work. You will eventually bust your bank.
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LeTiss
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Joined: Fri May 08, 2009 6:04 pm

waynejulian.....you've picked the right place to ask that question, because there are many experienced traders here

There is basically only ONE foolproof way of recovering your losses, and that is to trade better

If you are searching for ways to recover losses with increased stakes etc.....you WILL FAIL in this game
If you have an aversion to losses, then pack up now and save yourself a fortune

I speak through experience. I gravitated to trading from being a punter. I had a betting mind, not an analytical one. Like you, I couldn't grasp the concept of accepting a loss on a sports event that hadn't even started. I went down all sorts of dark avenues

Eventually, I knew I had to retrain my brain and be a trader, not a punter.....or I had to walk away
I've now been self-employed as a trader 14 years come June, so it's possible, but get your head away from a recovering losses mindset
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jimibt
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Location: Narnia

LeTiss wrote:
Tue Jan 18, 2022 12:05 pm
waynejulian.....you've picked the right place to ask that question, because there are many experienced traders here

There is basically only ONE foolproof way of recovering your losses, and that is to trade better

If you are searching for ways to recover losses with increased stakes etc.....you WILL FAIL in this game
If you have an aversion to losses, then pack up now and save yourself a fortune

I speak through experience. I gravitated to trading from being a punter. I had a betting mind, not an analytical one. Like you, I couldn't grasp the concept of accepting a loss on a sports event that hadn't even started. I went down all sorts of dark avenues

Eventually, I knew I had to retrain my brain and be a trader, not a punter.....or I had to walk away
I've now been self-employed as a trader 14 years come June, so it's possible, but get your head away from a recovering losses mindset
i know we always say it when you mention your journey, but this definitely should be a sticky!! a real world practitioner who went down the dark road and realised the futility of that dead end journey. can't agree more on the necessity to look at a loss as a calculated part of the work - an expense of sorts.
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MobiusGrey
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Joined: Fri Nov 23, 2018 8:10 pm

waynejulian wrote:
Tue Jan 18, 2022 9:13 am
Is there a way bet angel can increase your stake if you have a loss, so that you can put more money on your next selection?? (loss recovery) any help appreciated. I want to increase my stake by 1.5 x

Can Bet Angel do this for your automatically or do you have to change the staking in automation.

Thanks
I'll chip in here with some very relevant experience, I thought I could beat the markets and that my 'edge' was in laying horses based on form, OR, weight and jockey form. I was laying at fixed liability with a fibonacci staking plan as I believed that I had a strike rate of around 85% therefore any ramping up of stakes was relatively safe as I would hit that inevitable winner before it got risky. Starting off with a modest £200 I soon turned this into £1k until the the real inevitable happened one Saturday afternoon where I found myself laying a horse for a 4 figure sum.

If you're like me you won't heed anyone's advise, you will probably need to find out the hard way but trust me, you will discover why any type of loss recovery system is doomed to fail. You can't beat the maths.
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ShaunWhite
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Joined: Sat Sep 03, 2016 3:42 am

Logic matters too. If loss recovery systems worked then why isn't everyone a winner? Its not as though they're based on rocket science so we're all capable of thinking about them. Ditto hard stops, let the winners win and stop the losers sounds oh so simple but carries the same logic bomb.

Most of this "trading" game is common sense tbh like the above, but that's often sidelined when people have pound signs in their eyes.
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Kai
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Joined: Tue Jan 20, 2015 12:21 pm

waynejulian wrote:
Tue Jan 18, 2022 9:13 am
Is there a way bet angel can increase your stake if you have a loss, so that you can put more money on your next selection??
Back to the drawing board Wayne!

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The Silk Run
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Joined: Mon May 14, 2018 12:53 am
Location: United Kingdom

I started using loss recovery systems a couple of years ago, and they focus in all my daily automations. I have every conceivable one, last count twenty five. However, I use them specifically to calculate all the complicated math and the recovery is disabled.
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Derek27
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Location: UK

Have to give credit to the OP for taking the points on board. Many Martingale threads have dragged on for dozens of pages.

Until the next one... :)
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Kai
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Joined: Tue Jan 20, 2015 12:21 pm

Euler wrote:
Tue Jan 18, 2022 9:43 am
We need a forum section for loss recovery
May I suggest to put this counter somewhere on top of the forum page, Derek can manage it and reset accordingly

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Kai
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Derek27 wrote:
Tue Jan 18, 2022 1:37 pm
Have to give credit to the OP for taking the points on board. Many Martingale threads have dragged on for dozens of pages.

Until the next one... :)
Death. Taxes. Martingale threads 🤠🤠🤠
PapaShango
Posts: 85
Joined: Thu Apr 29, 2021 2:41 pm

I have to admit, when I first read about “STOP AT A WINNER” bets I thought I was going to be rich.

Can remember an old bloke who used to go in bookies every Saturday for the morning dogs. First bet would be £2 win fav. If it won, he would be gone. If not, £4 fav, £8 fav, £16 fav and so on, though usually by then a favourite had come in and he got his money.

One Saturday though, I remember it didn’t. He got up to £64 and that got beat. He walked out of the shop pale, I thought that would be the last time he tried that. Then about 10 minutes later, walks back in, £128 fav. That dog got beat, and he walked out of the shop like a ghost, completely pale.

About another 10 or 20 minutes later he is back in the shop, completely pale still, almost shaking , £256 fav. Bet needed clearance too, and was right on the hare running. Though he got it through and was on.

Dog won.

Colour returned to punters face, though was clearly relief more than joy. Took his winnings, and left.

I think this also demonstrates the fine lines between winning and losing, gambling and problem gambling. If that dog gets beaten, then the evil bookmaker has just relieved a helpless old pensioner of his life savings ( he was actually a very rude old man, particularly to the female staff, personally, I think he deserved to lose ). If the dog gets beaten, he is a “problem gambler” .

Though the dog won, and the pensioner, in the end, relieved the bookmaker of around £20 or so, which he probably had to spend on a new pair of pants. Though in his eyes, he is not a problem gambler, just another shrewdie with an unbeatable system.


Next week he was back doing it again.
sniffer66
Posts: 1666
Joined: Thu May 02, 2019 8:37 am

Every time I see these threads I start singing White Lines, by Grandmaster Flash, in my head.
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Derek27
Posts: 23476
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

PapaShango wrote:
Tue Jan 18, 2022 3:13 pm
I have to admit, when I first read about “STOP AT A WINNER” bets I thought I was going to be rich.

Can remember an old bloke who used to go in bookies every Saturday for the morning dogs. First bet would be £2 win fav. If it won, he would be gone. If not, £4 fav, £8 fav, £16 fav and so on, though usually by then a favourite had come in and he got his money.

One Saturday though, I remember it didn’t. He got up to £64 and that got beat. He walked out of the shop pale, I thought that would be the last time he tried that. Then about 10 minutes later, walks back in, £128 fav. That dog got beat, and he walked out of the shop like a ghost, completely pale.

About another 10 or 20 minutes later he is back in the shop, completely pale still, almost shaking , £256 fav. Bet needed clearance too, and was right on the hare running. Though he got it through and was on.

Dog won.

Colour returned to punters face, though was clearly relief more than joy. Took his winnings, and left.

I think this also demonstrates the fine lines between winning and losing, gambling and problem gambling. If that dog gets beaten, then the evil bookmaker has just relieved a helpless old pensioner of his life savings ( he was actually a very rude old man, particularly to the female staff, personally, I think he deserved to lose ). If the dog gets beaten, he is a “problem gambler” .

Though the dog won, and the pensioner, in the end, relieved the bookmaker of around £20 or so, which he probably had to spend on a new pair of pants. Though in his eyes, he is not a problem gambler, just another shrewdie with an unbeatable system.


Next week he was back doing it again.
If I remember correctly, you could just place all your bets on a slip with a "stop at a winner" instruction on it. Obviously he'd have to decide how far he's going and cough up the £511 plus betting tax. :)
Trader Pat
Posts: 4327
Joined: Tue Oct 25, 2016 12:50 pm

Derek27 wrote:
Tue Jan 18, 2022 1:37 pm
Have to give credit to the OP for taking the points on board. Many Martingale threads have dragged on for dozens of pages.

Until the next one... :)
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PapaShango
Posts: 85
Joined: Thu Apr 29, 2021 2:41 pm

Yes, only ever saw a couple of actual “stop at a winner” slips, and they were usually only ever staked in pence anyway as as you said, they had to pay the full stake up front. If they do get a winner, the rest get refunded as non runners.

It’s probably being asked to pay the full stake up front that makes you realise what a bad idea it is.

It was far more common to see people attempt it like the pensioner. He clearly needed a couple of unexpected trips to the bank or building society that day, though he survived, for me to tell the tale. ( I imagine he is dead now, he was very old back then, and that staking plan couldn’t have done much for his heart health).
PapaShango
Posts: 85
Joined: Thu Apr 29, 2021 2:41 pm

sniffer66 wrote:
Tue Jan 18, 2022 3:18 pm
Every time I see these threads I start singing White Lines, by Grandmaster Flash, in my head.
…a magic betting system, there in black and white,
a multi-million dollars, almost overnight,
twice as much on this bet, twice as much on that,
and if you get hooked, baby, it’s nobody else’s fault, SO DONT DO IT… !
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