How I really wish this could be easily followed. I tried but it seems very hard to stick with the plan because there will be emotional swings that are hard to control. Chasing losses, greed, and envy of those who made more than you. (If the profits are being shown in-game. i.e. Crash) There's a feeling of wanting to reach what they did and it becomes a pandemic.
But it's true if someone could discipline himself and follow those steps given then he/she might be a successful gambler with some luck provided.
Playing what you can afford to lose may be one of the important parts of it, this way you will know when to stop and you don't gamble much if you know the game will also stop because of lack of funds.
Exactly, in a perfect world, this might work, however, we all know this already, I mean if someone has been involved in gambling for so long, they already have a grasp on what gambling is and maybe they even devise a perfect strategy to follow.
But when you are in a table, or trying to put a sports bet and then you lost, it's going to be very different, that sometimes you tempted to play again and forget about your so called perfect gambling strategy. So at the end, I do believed that this is just good o paper but it's hard to practice when when you experience a loss or unlucky day.