By JAR
The vast majority of gamblers think that to make money is just enough to choose good games. This is an important aspect and obviously there are games that rely entirely on the decisions taken by the player, however it is also important to know that to make money in the long run, you must have a good understanding of money management and knowing how to manage the risks.
Even if you are an exceptional prognosticator you can be sure sooner or later you could have a bad run, and probably if you dont have a plan or strategy for handling the situation you could still face serious problems, I know that is not pleasant to think about this but we must be aware that it can become a reality. Inevitably no one is always right and no all methods works in all circumstances.
For this type of situation you must have an emergency plan and develop a strategy or use some method to manage your money and so rather than risk and losing everything or lose more money than you have you will be protected and secure.
A golden rule that we must never forget is the following:
Bet when you are winning (especially if you've accumulated more money than you've exchanged for chips) and if not you should bet less when you're losing.
Even if you think you have a good hand and want to put everything on it but you're in a bad run (in case of playing any game of cards) think it twice because you could run out of money to continue playing and you will not have even opportunity to regain what you had invested in chips.
To help control your impulses whether you are winning or losing put limits and respect them. A maximum gain and a minimum loss will help you stay in control.
What to do to manage your risks? It is important that players understand there is not a magical formula, no certainties, to accomplish this.
However there are several strategies that can help you preserve your capital in difficult times, and can be preventive, to avoid falling into irreparable losses.