Consistency and Longevity 02/05/12 (more...)

We are over 4 weeks into our 2012 betting year. We have had 2 very good weeks and one bad week augmented by 3 very bad NCAAB beats that lost to the spread by a grand total of 2 points in total.
Believe it or not more people go bankrupt in this business during a winning streak than a losing streak. In Wall Street the slogan is “greed is good “in this business it will destroy you. Of course we all want to win every game and do you not feel when you are in a hot streak that you are invincible. Conversely when you are in a losing streak it feels even if you had tomorrow’s newspaper ahead of time you would still pick the wrong side. This business has a way to slap you upside the head when you get to confident and humble you.
My point is amateurs when on a hot streak double their unit, force plays because they THINK they cannot lose and will more times than not wipe out a months’ worth of profits with one bad day. Do not fall into this trap.
Bad streaks are inevitable. If you are a hard loser, if you just cannot let go of those bad beats than this business is not for you. Betting on sports is like the stock market in some ways you are going to win and you are going to lose sometimes. Adhere to proper money management and betting principles as detailed on my website and you will do more than survive.
Keep your eye on the goal CONSISTENCY and LONGEVITY!