5 Mental Responses That Will Make You Lose Money - page 2.

gabmen

hero member

Activity: 1246

Merit: 529

CryptoTalk.Org - Get Paid for every Post!

Quote from: Tigorss on June 30, 2018, 02:38:55 AM

Quote from: sheenshane on April 29, 2018, 11:40:20 AM

Quote from: krach on April 29, 2018, 10:55:45 AM

1 – Aversion to Loss

2. False Expert Belief

3. What Goes Up Must Come Down

4. Raising Stakes

5. Bandwagon Effect

That's was all probably happen when you have that negative side cause to lose.
That number 2 I was bolded, that has mostly happened to me that I expected I win but my luck was not there.
Felling expert and confident of what I do in gambling but at the end always a loser, this is very risk belief but when a good vibe comes into you surely also comes luck.

the negative effects that occur are usually a factor of defeat that is very much or lose consecutive and emotion uncontrollable so that at the time of play you will only get defeat again.

Those factors are things that should be considered even before one places his first penny on the table. And you're right, a lot of people also get that feeling that they're invincible especially when they win one or two times, prompting them to feel lucky and start betting a lot more.

reliable

full member

Activity: 868

Merit: 151

Quote from: imsotiredofmoviereboots on June 28, 2018, 12:52:32 AM

Is gambling not enough to make you lose money? Because if your mind responds to gambling as a source of income then you are subject for more losses than gaining out of it.

It might not have to do anything or much with mental stuff as it is the basic like in gambling the existence of it because the owner of the casino or site will be making money and so still it exists or else they would be bankrupt if people start winning it. And when some of them win are you that lucky that out of thousand you will be one to win.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: bitcad4u on June 27, 2018, 11:58:01 AM

If you think ,you are going to lose a game.It will reduce you confidence level and finally ,you will lose your money.If you win in certain game,you may lose in next game.

Reduction in confidence level wont matter to a addicted gambler because they have become resistant to it and they wont lose confidence. Which is of course a false sense of confidence instilled into the addicted ones only.

Quote from: imsotiredofmoviereboots on June 28, 2018, 12:52:32 AM

Is gambling not enough to make you lose money? Because if your mind responds to gambling as a source of income then you are subject for more losses than gaining out of it.

This is absolutely correct but then people are addicted and have fun in gambling hence they play.

Tigorss

member

Activity: 308

Merit: 10

Quote from: sheenshane on April 29, 2018, 11:40:20 AM

Quote from: krach on April 29, 2018, 10:55:45 AM

1 – Aversion to Loss

2. False Expert Belief

3. What Goes Up Must Come Down

4. Raising Stakes

5. Bandwagon Effect

That's was all probably happen when you have that negative side cause to lose.
That number 2 I was bolded, that has mostly happened to me that I expected I win but my luck was not there.
Felling expert and confident of what I do in gambling but at the end always a loser, this is very risk belief but when a good vibe comes into you surely also comes luck.

the negative effects that occur are usually a factor of defeat that is very much or lose consecutive and emotion uncontrollable so that at the time of play you will only get defeat again.

ricardobs

hero member

Activity: 1204

Merit: 505

Quote from: Betwrong on June 26, 2018, 04:18:48 AM

Quote from: spiker777 on June 21, 2018, 03:11:27 AM

The raising stakes one is definitely one a lot of people fall victim to. I have even been a victim myself numerous times over the year, e.g. I'll just keep doubling up until eventually I win.... Until I get an unlucky streak and lose a lot of money. People need to understand statistics, they assume that they are the only score that matters, when in reality they are part of a cohort of people which constitutes the average. Just because extraordinary events seem unlikely to a single person, across a cohort it is quite possible, and the more times you double up, the more chance you're going to get screwed.

It is called martingale and you are absolutely right here. Actually, it is extremely tempting to use this strategy because it works most of the time and for the same reason it is extremely dangerous. You can increase your balance 10 times with it, but when you lose, you lose it all and your balance becomes zero. One might think "Okay, I'll just double my balance and withdraw immediately", but there's a big NO to that. The thing is that with martingale you can lose everything before managing to get any profit, let alone doubling your bankroll. I personally lost a lot in the past to martingale on dice, but this strategy is so tempting that I still use it from time to time, but not with the purpose of earning money of course. I don't gamble in order to earn money, that would be suicide.

And you know this one is the biggest of everything that you say, okay I will double that up in next game. Hundreds of people have tried this and this is natural as per human nature. But people don’t know how badly it is just ready to get you poisoned. Better is to leave such game where you win is even bad for you and making you more greedy. Do it for your own good.

raven7886

legendary

Activity: 1512

Merit: 1041

Quote from: btc-facebook on June 22, 2018, 04:15:48 AM

Rule 3
Yes, the problem is when it happen as historical graph become useful because it's has similiar pattern

Rule 4
I'm using martingale because I want to cover my loss so as long as I can afford to loss, it won't be any problem

Yeah, as long as you can afford to lose, the rest is just going to be history.
Martingale has always been the most popular strategy when it comes to the game of luck but sometimes the long streak of losses may get you hanging in the middle of deciding whether to try it one more time or to just take the loss and walk away which the former is always the decision a lot of gambler always tend towards while trying to fight the impulse to go further unless you are highly disciplined and ended up sticking to a limit.

imsotiredofmoviereboots

full member

Activity: 476

Merit: 100

Is gambling not enough to make you lose money? Because if your mind responds to gambling as a source of income then you are subject for more losses than gaining out of it.

Finestream

hero member

Activity: 3052

Merit: 606

Quote from: bitcad4u on June 27, 2018, 11:58:01 AM

If you think ,you are going to lose a game.It will reduce you confidence level and finally ,you will lose your money.If you win in certain game,you may lose in next game.And luck favor major role in the gambling.Not any statics is available to win a game.Purely it's based on your luck.

Right.So do not gamble if you think you're not having a good mood that time because it won't really attract that pure luck.But if you just gamble because you want to have fun,then much better than gambling just to earn profits because most of the time you will be disappointed with the gambling results.

bitcad4u

sr. member

Activity: 602

Merit: 255

If you think ,you are going to lose a game.It will reduce you confidence level and finally ,you will lose your money.If you win in certain game,you may lose in next game.And luck favor major role in the gambling.Not any statics is available to win a game.Purely it's based on your luck.

TheGreatPython

sr. member

Activity: 2660

Merit: 339

Quote from: spiker777 on June 21, 2018, 03:11:27 AM

The raising stakes one is definitely one a lot of people fall victim to. I have even been a victim myself numerous times over the year, e.g. I'll just keep doubling up until eventually I win.... Until I get an unlucky streak and lose a lot of money. People need to understand statistics, they assume that they are the only score that matters, when in reality they are part of a cohort of people which constitutes the average. Just because extraordinary events seem unlikely to a single person, across a cohort it is quite possible, and the more times you double up, the more chance you're going to get screwed.

One should gamble if he know how to control himself and his emotions. There are many mental and psychological problems that can arise from bitcoin if a person gamble more than need. Yes, gambling has some advantages but in majority cases it become a curse for its players because they fail in controlling themselves and completely destroy themselves.

rickadone

legendary

Activity: 1176

Merit: 1024

Quote from: Aleister Crowley on June 23, 2018, 06:40:46 PM

raising bets does not always make us lose money .. let alone we have and unlimited with big bet bets ,, I think it will be profitable in the long run .. especially if we gamble in casino roullete .. with some strategies that have been in stacking with mature, I think it will grow victory

Raising bets can make you lose a lot most especially when you rely so much on it and the long streak of losses come and you are there battling with increasing or doubling the betting amount or not. As you keep increasing, you keep setting yourself on more fire and the likelihood of you not getting burned completely is just going to be determined by how lucky you just ended up turning out to be eventually.

The best is just to have a limit and never expect too much from gambling and that will always help to set those bullshit mental responses straight.

Betwrong

legendary

Activity: 3374

Merit: 2198

I stand with Ukraine.

Quote from: spiker777 on June 21, 2018, 03:11:27 AM

The raising stakes one is definitely one a lot of people fall victim to. I have even been a victim myself numerous times over the year, e.g. I'll just keep doubling up until eventually I win.... Until I get an unlucky streak and lose a lot of money. People need to understand statistics, they assume that they are the only score that matters, when in reality they are part of a cohort of people which constitutes the average. Just because extraordinary events seem unlikely to a single person, across a cohort it is quite possible, and the more times you double up, the more chance you're going to get screwed.

It is called martingale and you are absolutely right here. Actually, it is extremely tempting to use this strategy because it works most of the time and for the same reason it is extremely dangerous. You can increase your balance 10 times with it, but when you lose, you lose it all and your balance becomes zero. One might think "Okay, I'll just double my balance and withdraw immediately", but there's a big NO to that. The thing is that with martingale you can lose everything before managing to get any profit, let alone doubling your bankroll. I personally lost a lot in the past to martingale on dice, but this strategy is so tempting that I still use it from time to time, but not with the purpose of earning money of course. I don't gamble in order to earn money, that would be suicide.

boyptc

hero member

Activity: 3024

Merit: 680

★Bitvest.io★ Play Plinko or Invest!

Quote from: gabmen on June 25, 2018, 08:43:17 AM

Well the possibilities aren't always 50/50 though. Yeahbl it doesn't always end up in losses but excessive betting will most likely drain you of your funds more than catching up with your previous losses

Excessive gambling will trigger your mind and emotion which will cause you not to stop gambling. And when it does, you'll lose money and there's no guarantee that you can recover it that quick.

lol1yatme

member

Activity: 200

Merit: 10

Quote from: malikusama on June 22, 2018, 05:26:38 AM

Along with other mental responses you have mentioned this one

Quote from: krach on April 29, 2018, 10:55:45 AM

2. False Expert Belief

is the main reason why many of us are losing money, over confidence is our greatest enemy which can ruin ability and skills.
Believe in yourself but don't ever think that you are an expert or anything like that.

False expert belief can be one of the reason for which we are losing money in gambling but for me the main reason for which we are losing money in gambling and will lose money in future also because that reason lies in our nature and we can get control over it but can’t uproot it. This reason is the greed present in the nature from the birth.

onrise

sr. member

Activity: 1512

Merit: 316

Quote from: sweetbet on June 21, 2018, 06:58:06 PM

The 2 mistakes that I use to make were: 1. Upping the wager and 2. Chasing losses. I'm glad that I very rarely gamble now.

Chasing losses this is what I would say 60% of the people would be playing for as everybody wants to make quick money and gambling seems to be one of the option for this people so they want to make money and if lost they will play more to recover those money too.

Hamphser

sr. member

Activity: 2604

Merit: 338

Vave.com - Crypto Casino

Quote from: wuvdoll on June 24, 2018, 11:43:09 PM

Quote from: perfect999 on May 30, 2018, 12:38:11 AM

Quote from: BTCappu on May 26, 2018, 05:26:23 AM

Quote from: Gintama214 on May 23, 2018, 11:43:47 AM

This is really true, people who are going through this mental responses is due to loss of control to itself, many people feel this whenever they lose money due to gambling and other ways that make them lose their money. Especially in gambling, whenever you lose you always feel or believe that you will gonna win and keep betting even though you already have lost a lot of money and thinking that you still win.

Human brain is no doubt one of the most important component of the human body and that the ones who exactly know how to make the best possible use of the brain are the ones who are making lot of money and are amongst the world’s wealthiest persons. You can also be one of them but for that you need to make the best possible use of this thing so that you may also get what you want in your life.

No doubt in this. But what if someone wants to kill himself, does he should be using the best aspects of his mind and plan so fantastically using the efficiency of his mind to kill himself? No, definitely no. we have to stop him and he must be stopping himself too. Likewise, in gambling, this is just a story of killing yourself financially and then let yourself engaged in how to use your mind efficiently.

You can only help those who are willing to get help as it is the same way on how you can only be able to stop someone from getting himself killed one time as you cannot be there every time. Aversion to losses is the main thing that has made a lot of gamblers set them-selves on fire unknowingly with the mindset of winning as long as they keep trying.

Some will even try to get strategies, get comfortable with it until they see how days of winning and comfort can turn to few minutes of losses, emotion and more loss.

Thats how it goes and even early results are just good it can turn out bad anytime or in instant which isnt surprising or somehow a thing should anticipated.Players or gamblers do have fixed minds towards gambling if they would pursue even they do know the risk then its their choice and later on they would realize and regret when they do already face non good consequences. Some might recover thru addiction and some would still remain until they would fucked up their own lives.

megynacuna

sr. member

Activity: 756

Merit: 253

Quote from: betMaster on June 25, 2018, 09:21:08 AM

I think most of all , what makes you loose your money is the lack of confidence in what you're doing or the lack of experience in what you're doing because someone who's gambling for the 1st times on a certain game won't either have the needed experience to correctly predict what's happening or make accurate speculations nor the confidence to know what he's doing is right . So people should really avoid doing such mistakes in order to cut down their losses before they even take place .

How do they gain experience on gambling if they don't make that first bet. It's about time some of you realize that experience comes with price and they must attain them, by loosing something and such way to me is not loosing your money because you have learnt some thing for them and that is different from loosing out in hardcore gambling.

betMaster

sr. member

Activity: 336

Merit: 250

I think most of all , what makes you loose your money is the lack of confidence in what you're doing or the lack of experience in what you're doing because someone who's gambling for the 1st times on a certain game won't either have the needed experience to correctly predict what's happening or make accurate speculations nor the confidence to know what he's doing is right . So people should really avoid doing such mistakes in order to cut down their losses before they even take place .

gabmen

hero member

Activity: 1246

Merit: 529

CryptoTalk.Org - Get Paid for every Post!

Quote from: Aleister Crowley on June 23, 2018, 06:40:46 PM

raising bets does not always make us lose money .. let alone we have and unlimited with big bet bets ,, I think it will be profitable in the long run .. especially if we gamble in casino roullete .. with some strategies that have been in stacking with mature, I think it will grow victory

Well the possibilities aren't always 50/50 though. Yeahbl it doesn't always end up in losses but excessive betting will most likely drain you of your funds more than catching up with your previous losses

imstillthebest

full member

Activity: 1638

Merit: 122

Quote from: TheUltraElite on June 25, 2018, 08:19:06 AM

Quote from: malikusama on June 22, 2018, 05:26:38 AM

Believe in yourself but don't ever think that you are an expert or anything like that.

You can believe in yourself to be an expert in everything except gambling or any other luck based games. Because of the EV- nature of gambling and sometimes EV+ games as well, nobody can be 100% sure that the match will be in their favor. Its all a 50-50 chance and if you want to risk the chance then you should consider that money as gone, if it returns then you are lucky.

Quote from: Aleister Crowley on June 23, 2018, 06:40:46 PM

raising bets does not always make us lose money .. let alone we have and unlimited with big bet bets ,, I think it will be profitable in the long run .. especially if we gamble in casino roullete .. with some strategies that have been in stacking with mature, I think it will grow victory

Raising the bet only makes the person lose more money - because in the end the house will always win. Roll Eyes

keep in mind that not all gambling games are only based on luck because there are also gambling games that is mainly based on pure skills. therfor believeing in your self that you can win it is always beneficial because that can boose your self confidence and self esteem.

raising bets wont also lead to more looses because as what ive said earlier , not all gambling games are based on luck. you can still win huge profit if you only play gambling that is based on skills. some other wise gamblers do also won big profits no matter what type of gamling they are playing (whether it is skill or luck based ) because they know what their doing. they do stop betting at a certain point so that they can already secure their winnings.

Topic: 5 Mental Responses That Will Make You Lose Money - page 2. (Read 968 times)