So one question, I’m constantly being asked is: what lost recovery systems do you use? You know talked about that in this video click here to subscribe to our YouTube channel you’ll, get instant notification of new videos as they’re released, so yeah loss recovery systems. They are something that I simply do not subscribe to. Why is that? Well, at the end of the day, if you do a trade or a bet, you’re seeking value from that position, so, for example, if you bet something at I don’t know threes, then it has to have a better chance of that bet, winning than the odds suggest. If you trade, say, for example, I’ll a nil, nil and you’re going back nil, nil or something, then there has to be a demonstrable edge for me to take that position.
If that bet loses, then it’s really just a balance of the the positives. The winners that I get against the the losses that I get there is no process of recovery. I don’t suddenly start saying well if this happens then do this and then do that and do this and then change that and modify this and put that over there and then do this. That does not happen.
I take a position based upon a trading plan. I execute against that trading plan; it wins more frequently than it loses and that’s where I make my money, and that is how you should do it as well, because if you have a loss recovery system, it generally anything. Actually, I believe, with the word system in it always goes sitting dueling and rings alarm bells with me, because you’re looking for a process, not a system and if you have a loss, recovery system, all you’re doing effectively is just chasing your losses. So you know the classic chase.
Your loss system is the martingale, so it’s like, if you lose on the first one, you double your bet and then hopefully you’ll win it back on the second one and all loss recovery systems work the same way and that you’re chasing losses you’re not influencing the Position the bet, the trade, whatever you’re doing, you’re, not influencing that you’re not taking value you’re, not getting value out of it. All you’re doing is trying to avoid a loss, and that is the biggest mistake that you can make people obsessed with avoiding losses. They’Re.
So obsessed that they find them everywhere and and the problem is the whole equation becomes imbalanced. You know you have a system in place that wins a certain amount of money, say: 50 quid you chase it and chase it and chase it, and you probably get away with it for a fair amount of time and then suddenly you lose a grant or some Ridiculous sum, and the problem that you have with that is that far outweighs the potential profitability or the edge that you have in the process that you’re using or the system for want of a better word. So the issue that you’ve got is it doesn’t matter how good or, however, wildly constructed your loss?
Recovery process is that ends up making no difference to the overall position that you’ve got because you may get away with it for a long period of time, but eventually boom. You will get absolutely slaughtered at some particular point in the future, so it doesn’t work basically and that’s why I don’t do loss recovery systems. The funny thing is it’s one of the things that you know a bet angel.
It gets asked. The Bettinger support gets asked a lot and I get it lost as well. People go to me, okay, you do this and I can see how you make money from there. What do you do if it loses and it’s like? Well, what do you mean? What would you do for losers?
You you, you take a loss, you know all of your winners outweigh all of your losers and you take a loss and they’re going on. Oh, why I spoke to this guy. He’S got this really great system to ding-ding-ding that when this happens, then you do this and it’s like okay, so where’s the value in that. Well, it isn’t.
It seemed we’re covering the lot and it’s like no, but you know why have you taken that position? The only reason you’ve taken that position is to try and avoid a loss and therefore you’re chasing losses, and that is the number one thing that you do not do that’s all ever so, and you know the problem is and I’ll do another video on this losses Or the avoidance lot lot. Subversion is the words that you are looking for is the biggest downfall of anybody. That’S trading gambling doing anything or even playing football. You know, loss aversion permeates the human mind significantly and it’s one of the the worst things that you can pay attention to.
Like. I said I do a video on it, but basically, when you’re doing a loss, recovery system, that’s what you’re doing is you’re trying to chase your losses and you’re going into loss aversion mode and that nearly always ends in disaster. At some point, so yeah loss recovery systems, don’t have any weight with me at all.
You know I bet or trade on something because it wins excellent at the time, and I know that if I look at the losers and the winners that I’m winning more than I lose and that’s what it’s all about for me. If I lose, then it’s not working at most, you know who has let’s move on and lots of recovery systems of some sort, usually involved modifying or changing your stake, so they’re eventually doomed to failure anyway, because you eventually reach stakes and it’s parts of the process. They’Re become intolerable at some particular point and that changes your behavior anyway, so yeah, it’s just it’s just not something that I do at all.
In fact, the interesting thing is we try and follow the gambling Commission guidelines in terms of the way that we design software and market it and they actually ban you from any loss recovery process. I’Ve noticed that is software out there that allows you to do it, but that’s completely against the gambling Commission guidelines, which is why we don’t have that within the product itself. So nobody believes in it, apart from people that are trying to make some money and desperately want to avoid your loss.
But anyway, that’s my thought. My views on loss recovery systems, if you’re interested in learning more about betting, Joe it’s tools and the opportunities they present. Then, why not visit betangel calm today and download a free trial?