after an hour I raised the bets to the $50-to-$500 range. I had calculated this to be the highest we could bet safely with our $10,000 bankroll. This plan, of betting only at a level at which I was emotionally comfortable and not advancing until I was ready, enabled me to play my system with a calm and disciplined accuracy. This lesson from the blackjack tables would prove invaluable throughout my investment lifetime as the stakes grew ever larger.
The strategy incorporating avoiding risk of ruin is simply to bet much smaller than bankroll? Guess makes some sense, but doesn’t eliminate risk of ruin? Or do you scale up/down bets according to current holdings? Still can get down below minimum bet that way with some nonzero probability.
