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When placing bets, setting stop-loss and take-profit levels is a crucial strategy. Each bet should be viewed as an investment rather than relying on blind luck and hoping for profits to come. Although we cannot control luck, we can manage our betting strategy and time, deciding when to enter and exit positions. To avoid losing oneself in market fluctuations and impulsively investing all capital, it's necessary to set reasonable stop-loss and take-profit levels before placing bets. Once these levels are reached, regardless of the situation, a decisive exit is necessary. Having a systematic exit strategy allows us to maximize profits and minimize risks.
Don't underestimate the importance of pre-betting planning. Having a plan and sticking to it can help us mitigate risks, minimize potential losses, and preserve the gains already made. Profits are not considered genuine until they have been realized in the actual income account; they are merely temporary fluctuations in a process. Therefore, having a well-thought-out plan before placing bets is crucial for timely setting stop-loss and take-profit levels.
For setting the stop-loss level, personally, I believe half of the initial capital is a relatively reasonable choice. When you lose half of your initial capital, regardless of the circumstances, a swift exit should be executed. Losing half of the capital usually destabilizes our mindset, leading to a decrease in confidence. At this point, every bet may feel dark, and if you don't stop promptly, you might easily fall into a negative chasing situation, almost guaranteeing a 100% loss. While some individuals might successfully recover losses through negative chasing, the key is not quitting after a successful recovery, continuing to battle the bookmaker. By then, players have lost control over their actions, only thinking about placing more bets, wanting to earn more, and trying to recover losses. This cycle ultimately results in financial ruin and is the fate of the majority of negative chasers. Therefore, setting a reasonable stop-loss level is particularly crucial.
Take-profit is equally necessary, and I believe the take-profit level can be relatively flexible. Once profitable, a portion can be reinvested in further bets, offering both stress relief and continued enjoyment of betting. However, without moderate control, the desire to win more may lead to losing the profits and initial capital. Personally, I find setting it between 10% and 20% reasonable. When profits reach 20%, if you want to continue making more, you can use 10% of the profits for further bets, while resetting your betting plan, such as betting 10% or 5% when profitable, and withdrawing immediately if losing. In summary, it's crucial to preserve at least 10% of your profits.
Of course, some people may be lucky and earn substantial profits. At this point, withdrawing the initial capital and half of the profits is recommended, while the remaining half can be used for further betting. Even if this half is lost, at least the initial capital and half of the profits are preserved. After all, when part of the account is empty, it provides an opportunity to calm down, with a buffer period that makes it less likely to fall into addiction. However, when it comes to sports betting, it's advisable to stick to small bets, prioritizing entertainment, as small bets bring joy, while big bets can be detrimental to one's well-being. |
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Post time 25-12-2023 14:40:25