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How to get rich staking:
First of all let me say I realise that I'm a cleaned scrub about 80% of the time but as someone who has rebuilt from 100m to 3b + probably over 50 times, and to 10b + 10 times atleast, I feel like I do understand somewhat how to stake. This is my guide
1) The most important thing is LUCK. You can be the most disciplined staker in the world, but without a decent amount of luck you will always wind up cleaned. This is entirely out of your control but for me, the randomness of it is what makes it fun.
2) Never, ever, ever, double up or even increase your bet on a loss streak. It may 'feel' like you have a better chance of winning on 6x loss but the reality is EVERY stake is 50/50. Wikipedia defines 'gamblers fallacy' as: ' the mistaken belief that, if something happens more frequently than normal during some period, it will happen less frequently in the future' i.e thinking that alot of losses should = alot of wins in the future. This is absolutely not the case. If you are 6x loss the odds of winning or losing the next stake is still 50/50. In my opinion, the best way to deal with a loss streak is to just ride it out without doing any big stakes. If you increase your bet for each loss, or double up... inevitably you will get cleaned. It is a mathematical PROBABILITY that over 100 or so stakes you will have at least 1 big loss streak. So if your plan is to double up and you can't afford to double up after 6x losses then its almost inevitable you will get cleaned and lose your bank. Additionally, doubling up is a bad idea if you think what you're actually risking. Imagine you have a 500m bank and you're doubling on losses starting with 10m. You risk 10m, lose, and then double to 20. This time youre risking 20m - but only for 10m profit. If you lose again, you raise to 40. Again, risking 40m for only 10m profit if win. Cannot stress this enough, NEVER EVER DOUBLE UP.
3) Set yourself a big goal and little goals. If I had 500m cash stack to stake with, I might set myself a goal of max cash. Then would set a smaller goal of 550m. To get to 550m I might do 10-20m stakes. If i lost alot of 10m's and was down to say, 460, I might redefine my small goal as simply getting back to 500.
4)It is okay to 'yolo' i.e a big stake, but if you lose your yolo you should go back to doing smaller stakes until you've built back up. Then you can try the yolo again. Losing a yolo and then raging and doing a bigger yolo is a sure way of getting cleaned very quickly.
5) Unless you have an easy way of making back lost GP (i.e hosting) you should never ever allow yourself to get cleaned completely. Climbing to 1b from 100m is hard, but cannot imagine how steep the climb is from 1m to 1b. If you've lost alot and feel yourself getting cleaned, just log out and make sure you have enough left over to rebuild the next day. Don't ever stake everything you have or rebuilding can seem impossible.
Thats all I can think of for now, if anyone wants to add something post it
First of all let me say I realise that I'm a cleaned scrub about 80% of the time but as someone who has rebuilt from 100m to 3b + probably over 50 times, and to 10b + 10 times atleast, I feel like I do understand somewhat how to stake. This is my guide
1) The most important thing is LUCK. You can be the most disciplined staker in the world, but without a decent amount of luck you will always wind up cleaned. This is entirely out of your control but for me, the randomness of it is what makes it fun.
2) Never, ever, ever, double up or even increase your bet on a loss streak. It may 'feel' like you have a better chance of winning on 6x loss but the reality is EVERY stake is 50/50. Wikipedia defines 'gamblers fallacy' as: ' the mistaken belief that, if something happens more frequently than normal during some period, it will happen less frequently in the future' i.e thinking that alot of losses should = alot of wins in the future. This is absolutely not the case. If you are 6x loss the odds of winning or losing the next stake is still 50/50. In my opinion, the best way to deal with a loss streak is to just ride it out without doing any big stakes. If you increase your bet for each loss, or double up... inevitably you will get cleaned. It is a mathematical PROBABILITY that over 100 or so stakes you will have at least 1 big loss streak. So if your plan is to double up and you can't afford to double up after 6x losses then its almost inevitable you will get cleaned and lose your bank. Additionally, doubling up is a bad idea if you think what you're actually risking. Imagine you have a 500m bank and you're doubling on losses starting with 10m. You risk 10m, lose, and then double to 20. This time youre risking 20m - but only for 10m profit. If you lose again, you raise to 40. Again, risking 40m for only 10m profit if win. Cannot stress this enough, NEVER EVER DOUBLE UP.
3) Set yourself a big goal and little goals. If I had 500m cash stack to stake with, I might set myself a goal of max cash. Then would set a smaller goal of 550m. To get to 550m I might do 10-20m stakes. If i lost alot of 10m's and was down to say, 460, I might redefine my small goal as simply getting back to 500.
4)It is okay to 'yolo' i.e a big stake, but if you lose your yolo you should go back to doing smaller stakes until you've built back up. Then you can try the yolo again. Losing a yolo and then raging and doing a bigger yolo is a sure way of getting cleaned very quickly.
5) Unless you have an easy way of making back lost GP (i.e hosting) you should never ever allow yourself to get cleaned completely. Climbing to 1b from 100m is hard, but cannot imagine how steep the climb is from 1m to 1b. If you've lost alot and feel yourself getting cleaned, just log out and make sure you have enough left over to rebuild the next day. Don't ever stake everything you have or rebuilding can seem impossible.
Thats all I can think of for now, if anyone wants to add something post it
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