The gambler who doesn’t know when to quit will never come out ahead, no matter how well he plays. A commonly heard piece of advice is: “Quit while you are ahead.” That’s good advice, except that many people missinterpret it to mean:”Quit while you are winning.” The correct rule is: “Never Quit While You Are Winning!”
When you get on a hot winning streak, you should always stick with it and slowly increase your bet size. Of course, you never know in advance when the streak will end, but sooner or later it will. When you do start losing, cut the size of your bets right down to the minimum, and if you continue to lose quit playing. In other words:”Quit Only When You Are Losing!”.
What if you win a few and lose a few, and the house is slowly grinding down your bankroll? Once you realize what is happening, take a break or at least change tables before you lose your entire daily stake. If you maintain the proper discipline, whenever you have gone through your daily gambling allotment, you are through gambling for the day.
Whatever you do, never try to recoup losses by increasing your bet size. Risking more money will not change your luck or change the inherent odds of the game you are playing. if you are on a losing streak, bigger bets will only cause you to lose faster.
You need to recognize those specific situations when your best option is to quit playing. Although there are some situations that you will have to determine for yourself, the following list covers most of them:
1)When you are losing.
2)When you decide that your intuition is better than basic strategy.
3)When you are unhappy with the dealer.
4)When you are unhappy with one or more players.
5)When you are angry, for whatever reason.
6)When you are depressed.
7)When you are not felling well.
8)When you are tired.
If you are on a winning streak, however, grit your teeth and stick with it, even if you are unhappy, angry or tired.
Remember, never quite while you are winning.