1. Document write down EVERYTHIN"!!!! Reasons/categories for the different bets....Keep track also of fund & expense outlays for every gambling event daily, down to the last insignificant card game.
Additionally: after every win, write down what you did wrong / could've done better to get an even bigger profit from the event--conversely, after every loss write down something you did right in the event, that will help you in the future / long run.
2. Read different approaches-- to gain all-round knowledge--even though you don't agree with some of someone's tenets(or they have glaring ommissions, faults)-- it will still give you invaluable insights....one example: John Patrick's books. If you stay with/remain in one area/point of view you limit yourself to your detriment & eventual demise.
3. Flat betting/percentage of bankroll/Kelly Criterion are all erroneous/not the answer-- but of course, they're a million times better than the helter-skelter best bets & five-star plays. After reading Patrick, read both these, then and come up with your own formula:
http://horsestreet.com/products/index.html#Manuscripts
4. After you paper bet successfully for at least 6/12 months, bet only for $1 / minimum bet for another like period-- you will notice a huge difference / performance decrease when betting real money, even if it's only one dollar-- and you will be so glad you didn't make your glaring & learning mistakes with serious money. How you master the $1 base bets will inherently let you know when & for how much you should make your next level.
5. If you don't have a strong opinion on a marquee event in a sport you're fanatical about, but cannot pass up throwing money at it-- say the last Preakness-- or have a problem betting against a favorite team / player of yours....... then forget about ever being a professional gambler / investor(no shame in that, you just relegate yourself to the recreatioal gambler / forever in the red category...and no shame in the red category either: all hobbies & vacations cost money anyhow).
:money:
ope: :money8: :modemman: :thumbsup2: