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Saturday, October 27, 2007

Progress Report: September

August was definitely a better month for me compared to September. But I did learn a lot from this month.


I had hit the 30 dollar mark and had decided to play with some more risk. That was a bad decision on my part. September showered me with high level losses and low level wins. There were times where my losses would keep coming one right after the other and believe you me... it really gets fustrating when you can't win a game.

Mid way through the month, my account balance dropped to nearly nothing. This was because with the pressure from my girlfriend and my frustration from the losing, I decided to bet more then half of my bank in one game to recuperate my losses. Obviously I lost that game. Thinking "what a waste of time" I decided to keep playing high level games... To the point I was back down to $1.

At this point, I decided to stop playing as many Hi/Lo games and concentrate more on a game filled with more skill... Gold Rush. As you can see, towards the end of the month, my bank began to scale upwards again.

September Consisted Of:
189 Games of Hi/Lo (80 Wins, 24 Tied, 85 Losses)
305 Games of Gold Rush (153 Wins, 15 Tied, 137 Losses)
61 Search & Win Spins


Through the game statistics, it would seem like I was close to a 50/50 split between wins and losses, but the problem was that I was losing the games with higher stakes, and winning the ones with low stakes.

It took me a little while to learn strategies and how opponents play in Gold Rush. The chart above does show that I couldn't seem to win to many games over level 7. But that has now changed.

Lessons Learned:
1. If you are on a losing streak, stop playing for a little while
2. Do not digress from your strategy if it has been working (even if you feel the pressure to play a higher level game)
3. It is better to play a game of skill compared to a game of luck

3 comments:

umo said...

Hi Mike, I like your blog, it is much more scientific than mine, I was wondering if you would like to swap links. Mine is http://moolachronicles.blogspot.com

Thanks, Anna

April said...

You did a great job with this. Its very detailed and helpful. I would gladly send referrals here to look.

~April26~

umo said...

I added you too :)