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Methods for setting a stop loss and sticking to it
Hi all,
One of my biggest leaks is having a bad night - getting stuck - and continuing to play. In these cases usually I'm not focused enough to know how non-focused I am. Eventually when it gets really bad, I'll notice that I'm tilting big time and finally quit. Like the "limit down" rule of commodities markets, at a certain point the market just shuts for the day. So I'm trying to find a good level to automatcially say "thats it". 3 tabling 3-6, if I'm down $150 total is what I've told myself. The tough part I'm finding is sticking to it. For example, tonight I find myself down 200 after 20 minutes. I should've just packed up and said thats it. Instead I rationalize that I've receieved some ungodly bad beats, there are some noticeably bad players, and I've got a good chance of making money back. Naturally I lose another 100 in the next ten minutes. Rather than quit, I keep on playing. And after a couple of hours return to break even and then go up a little. Not good reinforcement for sticking to my stop loss plan. Couple of questions for 2+2ers. If you have a stop loss for multi-tabling what is it? (BB, # of tables, level you play) How firmly do you stick to it? |
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