The Lock Talk - Newsletter #49

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TLT SPORTS BETTING SCHOOL
BANKROLL MANAGEMENT 101 -USING A STOP LOSS METHOD!

Prior Bank Roll Mgmt. Lesson Emails:
- Part I - What is Bankroll Mgmt.?
- Part II - What is a Unit?
- Part III - Different Betting Styles
- Part IV - Dealing with W’s & L’s
- Part V - Record Keeping
- Part VI - Emotions in Check
- Part VII - Grow Your Bankroll
- Part VIII - Using a Stop Loss Method

Keep track of your bets & get better at our lesson from above by clicking the link HERE 

• Embrace Variability as Part of the Process:

  • Understand and accept that betting outcomes are subject to variability and randomness.

  • Recognize that no bet is a guaranteed win, and losses are part of the betting landscape.

  • This acceptance can reduce frustration and help maintain a positive outlook, even during downswings.

    • Example: View each bet as a single event in a long series of opportunities, knowing that a well-researched bet losing is simply part of the game's inherent uncertainty.

• Develop a Growth Mindset:

  • Cultivate a growth mindset that views challenges and setbacks as opportunities to learn and improve.

  • Instead of dwelling on losses, analyze them to identify any strategic errors or areas for improvement.

    • Example: If a particular betting strategy consistently results in losses, take it as a cue to refine your approach or explore new strategies, viewing each setback as a step towards mastering sports betting.

• Set Realistic Goals and Celebrate Achievements:

  • Set achievable, measurable goals for your betting activities, and take the time to celebrate when you reach them.

  • This practice helps build confidence and maintains motivation.

    • Example: If your goal is to achieve a 15% return on your bankroll over three months, treat yourself to something meaningful when you hit that target, reinforcing positive outcomes.

• Maintain a Balanced Perspective:

  • Keep betting in perspective as part of a broader, balanced lifestyle.

  • Ensure that it remains a form of entertainment or a hobby, rather than an all-consuming pursuit.

    • Example: Allocate specific times for research and placing bets, ensuring you also dedicate time to other activities and interests that bring you joy and relaxation, thereby reducing the psychological burden of betting.

• Practice Mindfulness and Stress Reduction Techniques:

  • Incorporate mindfulness practices and stress reduction techniques into your daily routine to enhance decision-making clarity and emotional stability.

    • Example: Engage in regular mindfulness meditation, deep breathing exercises, or yoga to improve focus and reduce the emotional impact of betting outcomes.

    • These practices can help you remain calm and rational, especially in making betting decisions or dealing with losses.