28 Jun '12, 2pm

Average up or down?

I have an ex-colleague who is now the tai-tai of one of the big luxury watch retailers in Orchard Road. While entertaining overseas clients, she may bring them to one of our casinos. She never loses money there. OMG! How? Her system is simple. She will place a $100 bet on the roulette table on either black or red. If she wins, she got back her $100 entry fee. End of story. If she loses, she will increase her bet to $200 on the same colour. Lose again she increase the bet to $300 and so on. So far, she always got back her $100 entry fee. Of course there was this one time she got a scary 12 rounds of reds against her… I’ve written a tongue-in-cheek post on this topic of whip cream or leather whip . But that’s for the “Mind” part. Today I will be exploring the “Money Management” and “Method” parts (at least I’ll try). Money Management To recover from a 20% loss (paper or real...

Full article: http://thefinance.sg/2012/06/28/average-up-or-down/

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