Hey everyone - curious to hear how everyone handles this. If your starting bankroll is $1,000 and you win a few bets and end up with $1,100 do you base your units off your original bankroll of $1,000 or off your new bankroll of $1,100?
My assumption would be that there is not right or wrong answer here and it is mostly dependent on your personal risk profile but interested to hear peoples thoughts.
One idea may be to increase your bankroll by 5% every 20% you go up or something.
You start ramping up your bets gradually as your bankroll goes up
You base your units off of your new bankroll, however you don’t have to be exact. You can do it using the following benchmarks:
1000
1200
1500
2000
2500
3000
4000
5000
6000
8000
10000
That should be close enough to what you’re looking for.
So you’re saying change your bankroll every ~20 units? In the same vein would you decrease your bankroll every -20 units?
Sounds about right
I mean you can change it every day if you want, but doing it this way should make little difference
Yes, it most likely should change as your bankroll changes. This is especially important to avoid the risk of going bankrupt. You should read up on the Kelly Criterion if you haven’t already.
The best way to manage your bankroll and bet sizes is to use a % amount each time you bet.
The bankroll is always 100%, if it’s $10 or $10,000,000 it doesn’t matter. When we make a bet we first need to decide how much to risk and obviously there are many different ways to do that, so pick your poison. So we might be betting 10% of the roll or 0.01%. It really all depends on the spot we are betting.
Having fixed betting sizes is always sub-optimal and can lead to disaster pretty quickly if they are too big.
Update the bankroll in a spreadsheet or something and have a K% calculator in it for an easy way to calculate your bet sizings. DG lets you download all the files or use the API to make it even easier.