Martingale Roulette Success Stories

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Jan 12, Threads: Sep success, Threads: July 17th, at harrahs new orleans roulette Jan 26, Threads: July 17th, at stories Isn't it deutsch although it's a long martingale loser, the martingdale is still a very strong enemy of martingale casino. Has anyone had success/losses with the Martingale system? I'm thinking about trying out the Martingale system via online roulette in my spare time. I'm typically not a roulette player, because I don't like random chance, I prefer to play poker or black Jack when I gamble as I understand the games and you know when the odds are in your favour.

Andrew Sulga

2019-12-07 2018-09-04 Martingale in Forex: pros and consAndrew Sulga

hat is trading the martingale way and is it worth using in Forex? I will describe the efficiency of the martingale strategy in forex trading.

The Martingale system does not change the odds one iota. There are lots of Martingale system success stories on the internet. Take them with a pinch of salt. There’s a good chance they’re either marketing ploys by online casinos, or they are stories written by lucky roulette players who won in spite of the Martingale system and not because.
Martingale System Roulette Success Stories there is a live dealer. Furthermore, you can see and hear everything happening at the table as well as enjoy the bonuses like Martingale System Roulette Success Stories you would if you were sitting in the casino.
One of the most popular roulette tips is to use the Martingale betting strategy. It is very simple in essence, and it is hugely popular among most gamblers. This isn’t a betting option for those that want to place inside bets, and the only success stories that come with it have revolved around playing the colours. Let’s go over an.

Supporters and opponents go on the continuous argument if it is efficient to trade the martingale way in the financial markets. There is no definite answer to the question. Traders are divided into two groups: its fans and opponents. Martingale fans believe that if the market is hard to win over as it has no clear, predictable path, they should use this market feature to their advantage.

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How martingale appeared and what it is based on

This method was introduced by a French mathematician, Paul Levy, though he did not name it. He developed it as a betting strategy. If the original stake doesn’t yield the desired profits, the gambler doubles the position. He/she is going on in the same way until the victory. When the gamblers make the profits, they should return to the original stake. Traders usually bet one dollar for a game. If they fail, they double the stake – 2 dollars. Next, it is four dollars, eight, sixteen, and so on.

Trading martingale way in the foreign exchange market

Speculators, who use martingale, select highly volatile currency pairs. Especially popular is the pair of the British pound to the U.S. dollar. If you look at the chart, you’ll see that it is quite liquid and volatile. Quite volatile are the pairs, consisting of the euro- the U.S. dollar and the U.S. dollar -yen, although, in USDJPY weekly chart, it is clear that the Japanese yen is sometimes moving for a long time in the same direction.

A market movement is often followed by a counter-movement. A less interesting pair is that of the U.S. dollar to the yen or euro to dollar, but they are also convenient to trade due to low commission fees.

The EURUSD pair features it less often, though it also happens

Take 150 pips each time

Traders, using martingale make profits from a few pips up to a few hundreds, or even thousands of pips. Most traders gain a dollar if they succeed. A quite popular strategy is taking 150 pips. This system will be efficient if a trader doesn’t face a long-lasting trend in the opposite direction. By the way, such a trend is always dangerous when trading the martingale way.

Losing streak or Monte Carlo fallacy

How long can a losing streak last? In a Monte Carlo casino, there was once a record, when a ball had landed on black 16 times in a row. All gamblers were shocked. After that, the ball landed on black another 11 times. Can something like that occur on the exchange? It can! Although roulette doesn’t have any memory, the market has some kind of it.

If you don’t bet on sell or buy all the time, you are more likely to lose your money sooner. Some speculators alternate buy and sell orders. This system hardly provides any advantage over the market.

Time for martingale

When this system is the best to apply? You mustn’t trade during the important news releases, as a long-running one-direction trend can start. I won’t also recommend trading when The New-York Stock Exchange starts working. However, when the stock exchange is being opened, the market can start moving in the needed direction.

Graphic patterns and martingale

Which pattern is the most informative? It may be Head and Shoulders and its inverse version, which are mostly rather efficient. This formation is the easiest to identify in the daily chart. V-like, W-like and U-like tops and bottoms also work out quite well. After a certain pattern is complete, you can start an aggressive market attack. The support/resistance levels also suggest a lot.

In this EURUSD daily chart, there is a clear Head and Shoulders pattern. The left shoulder is marked with the red arrow, the right one – with the yellow one and the head is marked with the blue arrow. The green arrow points to a good level to enter a sell trade.

To beat the market

To beat the market is a natural desire of any speculator. How to do it easier? Most beginners, having learned about the doubled stake, are rushing to enter a trade and ...lose. It is important to be not only aggressive, but patient as well. To increase your chances for success, you should trade the minimum lot of 0.01. If you are going to enter a trade after 150-200 ticks, you may trade a little bigger lot, but you must remember that the more is your trading volume, the more is a potential loss.

Support and resistance

When entering a trade, traders can base on such tools as the support and resistance levels. They slightly increase the chances for success. Identifying the trendline is the simplest type of analysis, but it is quite efficient. It is applied by both beginners and advanced traders.

Martingale or averaging?

Which way to trade will yield the best result? With averaging, the risk of losing all your capital is, a rule, lower than with using martingale. Although, martingale can sometimes help you leave the zone of a deep drawdown with some gains, but averaging can’t.

The interval between trades

How often should you initiate trades? This question is answered by traders themselves.

A loss-free system?

Is this strategy really loss-free? I must say, martingale is, in fact, a loss-free system, but with one provision: if you manage a limit-free capital. Does anybody in the world possess such funds? Nobody! So, you will always risk when trading the martingale way.

A professional approach

Any business must be treated seriously. Before you start using martingale, you should test a few advisors, or you may design one by yourself. Will you put up with a loss in your capital by tens of percent for one trade? And if it is 50% less? If you will use the classical martingale system, you must be prepared for betting your last money in order to regain all losses and make minimum profits.

Expert Advisors and martingale

Is it relevant to apply expert advisors, trading the martingale way. Professionals say, it is relevant. According to specialists, it is good to develop your own advisor with the help of a software designer. However, you can find something appropriate on the Internet as well. A paid advisor won’t always be better than a free one. In the West, it is rather popular to design advisors as well as to sell and to buy them.

Go all the way! A successful one is better

Most traders claim that trading the martingale way should be complete. According to them, you shouldn’t exit the trade if you lose 10% or even 20% of your capital. Moreover, you shouldn’t close the position if you lose much, because it will break the principle of martingale system. It is important to press the market; otherwise, it will press you.

Potential yield

What potential yield are you to expect when trading this way? With relative (!) safety you can count on 3% profit per months. If so, martingale system is less likely to ruin your deposit. Anyway, it is not guaranteed. According to the probability theory, in a few years, the market may lose everything because of you. Can you count on 30% per month? Yes, you can! But if so, you must remember, that losing all of your capital is also guaranteed. It doesn’t matter so much, if it happens in a month, or in a few months.

Fundamental analysis and martingale

Do you need to apply fundamental analysis when trading this way? Of course, you need! You can often identify the trend direction only by means of the news background analysis. Imagine, some negative information is to be published in the USA, and so, it is not reasonable to bet on dollar rise in this context. However, the negative expectations may not meet the reality, and the U.S. dollar can grow stronger in this situation.

Brexit and not just it: waiting for a Black Swan

Traders call a black swan something unexpected that can radically change the things on the exchange. By the way, Brexit doesn’t refer to this definition, because it is expected. It wasn’t also a black swan when the European constitution wasn’t accepted in France and the Netherlands in 2005. At that time, social polls revealed that the citizens of these two European countries wouldn’t support the draft bill. But the ruined towers in New-York are the example of a typical black swan. Crises are also hard to be predicted.

Testing of an expert advisor

Before you start active application of martingale strategy, you should test it on a demo account. Sometimes, it may take you quite a long period of time to test it. Some speculators are testing all the time and they are trading all the time. Which advisor will suit you the best? It may be this or that. You may also need to correct the trading algorithm.

Black-Sholes formula

It is a very simple formula, but it the only one that really works on the exchange. According to it, the price can move the equal distance both upwards and downwards. Everything great is simple. You may deny it, but nothing smarter has been invented yet. Can this rule help traders, using the martingale strategy? Yes, it can! It helps speculators draw more or less correct conclusions. As for the criticism of this formula, I must note that trading stocks, for example, is different from currency trading.

The danger of changing settings

Traders like changing the settings both when they need and when they don’t. When you adjust the advisor settings, you must remember that any interference with the software may often result in bankruptcy, rather than in profits. Many advisors are set to perform certain functions. Not everybody knows what functions exactly. When you interfere with the system’s “brain”, you may face negative results. It is especially dangerous for people, engaged with software design. Trading is a kind of philosophy, and as many programmers are not good at philosophy, they seek to exercise in their craft. It will be hardly of use in the art of trading.

Factor of psychology

Following your selected path, you mustn’t deviate from your objective. It is the worst to suffer from big losses, without knowing what to do next. Traders often “break down” at the worst possible moment. What should a trader, who has started with a 100-dollar capital, do? They bet 1 dollar at first. If they succeed, they take the profit and get prepared for the next trade.

If something went wrong, they bet 2 dollars. A failure again? 4! Next, the stake is 8, 16, and so on. At some point, they just don’t have enough money to double the stake, and they need to bet the rest of their funds. And such a deal won’t cover all losses even if it is successful. But still, you need to follow the above system if you’ve started.

Mathematicians in trading

Psychologists are good at trading, rather than mathematicians. But still, martingale applies mathematical approach. Psychologists can pay attention to the traders’ response to a certain event. But when the martingale is applied, you need to stick to simple math logic. You shouldn’t start trading, based on martingale alone; you should also apply fundamental analysis.

Probability of bankruptcy

It is always possible when you trade this way. But still, martingale provides a kind of bankruptcy delay. There are traders, who claim to gain 35%-40% annually and haven’t ever gone bankrupt.

Peer into future

Can anybody do it? Professionals claim that the future will always remain a mystery. All discussions about this just don’t make any sense. Of course, it is not about Brexit or a change in the Fed’s rate.

You don’t need stops!

Stop orders don’t make any sense when trading the martingale way. If traders put stop losses, even at the breakeven, they don’t already apply martingale strategy; rather, it is a version of averaging. And that is another story. It is the worst possible situation when a trader suddenly “breaks down” and exits a series of trades with huge losses.

“Light” version of martingale

In addition to common martingale system, there is its “light” version, when you increase your deposit not by 2 times, but, for example, by 1.5. Some speculators risk and increase each next bet by 10%-20%. Sometimes, the “light” martingale can yield more than a classical version; sometimes, it is less efficient.

Do you need locks?

Some traders like using locks during unsuccessful trading. For example, if you opened positions with the total volume of 0.4 lot and don’t know how to settle down the situation, you can sometimes open the volume in the opposite direction. However, you will still have to somehow exit the lock. You simply can just exit the trade with the same approach. When trading the martingale way you will hardly benefit from using locks.

Options

Trading options is now growing more and more popular. You can use the martingale system in speculating options. If a trader starts doing so he/she must remember that the shorter the option exercise term is, the more they are likely to go bankrupt. Sometimes, traders get very excited about trading options, but the danger of losing their capitals is not getting any less.

Advanced traders think options to be far more risky than direct contracts, and trading options with the martingale strategy is even more dangerous.

Gold or currency pairs? May be stocks CFDs?

Trading with martingale system, you should know that CFDs are not appropriate for this. A stock can drop or surge in price quite sharply. Gold and currency pairs are more volatile instruments.

In gold daily chart the gap is marked with the red arrow. But the price gaps in the gold market are rather rare. In the stock market, price gaps are more often than in the precious metal market. Martingale system is better for trading in the trend than against it.

Conquer the chaos

Sometimes, tossing a coin provides better trading signals than sensible speculation. You can just toss a coin. If it is a head, open a buy position, if it is a tail – a sell one. Of course, such an approach can’t be seriously recommended. But some traders, in fact, have poorer IQ than a coin. Therefore, there is a reason to think about it.

Who avoids martingale?

Most position traders trade in the direction of a strong trend. If you read books on exchange trading, you can find expert comments about trading this way. Professionals either write negatively about martingale or ignore it at all.

Ilan Dynamic 1.6

This robot is rather popular among traders. This expert advisor is often used in trading the martingale way. Let’s study on the example how you can run the expert advisor.

An example of running the martingale expert advisor

If you want to trade the martingale way automated, you can use Ilan 1.6 Dynamic advisor.

How you install it?

1. Install Ilan advisor on your PC. To do it, you need to open the File section in the terminal, next, Open Data Folder, and then, you open the fold MQL4 – Experts. You need to insert there the files, you have downloaded. And, finally, reset MT4.

2. Next, in the MetaTrader settings, you press Server-Settings-Expert Advisors. You also need to tick the option of Allow automated trading.

When you’ve completed all the above recommendations, the Expert Advisor can trade. You need to click it and drag it by the cursor to the chart.

3. To run Ilan 1.6 Dynamic with your settings, you need to enter the necessary parameters, according to your trading system.

You may ask whether you can trade martingale strategy in forex? The absolute majority of advanced forex traders never use martingale. Those, who like extreme, may try to take their chance, but they must always remember that the chance is a very changeable and temporary thing. Everyone, who wants to try, should count on 3% per month. If you want to gain more, you can well succeed, but you will face far higher risks.

I, personally, think it makes some sense to “test” the martingale system on a demo account; you’d better apply it to trading cryptocurrency on a convenient online forex terminal to keep your deposit safe. Please, do share your results of trading the martingale way or ask your questions in the comments below. I will be happy to discuss this issue.

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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Betting Systems

Betting systems fall into the broad categories of betting the same after each decision, known as flat betting, raising wagers after wins, called positive progressions, and raising money after losses, named negative progressions,

There are also systems which have characteristics of one or more of these types, such as the Baccarat Attack Strategy Betting System which we will encounter in a few more chapters.Many of the classical betting systems were developed for roulette in the eighteenth and nineteenth centuries, but can be used for other games with even-money wagers such as craps, baccarat and blackjack.Although none of these systems in its pure form is a winning system, it is worthwhile to study the efforts of our ancestors as these betting systems are the grandparents of every modern betting system.

Martingale

Martingale is one of the oldest betting systems using a negative progression.It is named after Henry Martingale, an English casino owner in the 1700s who is reputed to urge losing punters to 'double 'em up' with their wagers.

This system is very simple.You will use a betting series where each bet in the series is twice as large as the preceding one, as with 1, 2, 4, 8, 16, 32.So long as you win a bet, you will continue to bet at the lowest level, e.g. wager 1.If you lose a bet, you will move up to the next wager, doubling the amount of the previous wager.Use of the system ensures that whenever your wager eventually wins, you will win the amount of the original wager, in this instance 1.

One of my gambling friends once told me about an amazing system he had developed for craps.He had gone to Las Vegas on two consecutive trips and returned a winner.He was wagering only on don't pass at casino craps using a betting series starting with a $1 bet and doubling his bet after each loss.He was certain that his risk of loss was very small and planned to continue to use the system.He was reluctant to share the system with me but he finally confessed that he was using the following betting series, increasing his wager one level following a loss:1 2 4 8 16 32 64 128 256.He correctly pointed out that he would have to lose nine times in a row to lose the betting series, and he just didn't think that this was possible.

I pointed out to him that there was a very real possibility that he could lose nine decisions in a row; in fact, this would happen once about every 500 pass line - don't pass decisions.With craps decisions averaging fifty to sixty per hour, a loss of all nine wagers could happen once every eight to ten hours.I asked him to consider whether he was winning enough to sustain a loss of $511.00 (the total amount he was risking) in order to win the sum of $1.This must have impressed him as I don't think he ever used this system again (or at least he didn't tell me about losing with it).

The Martingale system would be just about unbeatable if you could continue to double your wagers until you finally won a bet. Modern casinos are very aware of Martingale, and they know that the easiest way to thwart the system is to narrow the spread between maximum and minimum bets allowed.In other words, the minimum wager must be high enough and the maximum wager low enough that no more than eight or nine doublings can occur.If you find a table with a low minimum, such as $1 and a high maximum, such as $3,000, you may wish to try using aMartingale system against the table.

You could use the following series of wagers: 1 2 4 8 16 32 64 128 256 512 1,024 2,048.With 12 bets in the series, you would be an odds-on favorite to win any weekend gambling contest involving even-money wagers.However, you might want to consider one thing.If you try this, sooner or later you will lose bet number 11, for $1,024.You will now have lost $2,047 and will be called on to bet $2,048 in order to win the grand sum of $1.Are you willing to risk it?If you win, you will be up exactly one buck for your efforts.However, if you lose your last wager of $2,048, you will have lost$4,095 in the gaming contest. While the risk of loss is low, it will happen at some time if you continue to wager this way, and there is no guarantee that it won't happen during your first casino excursion using this system.

Mini-Martingale

Martingale in its purest form is too risky for the amount of reward offered.Nearly every gambling expert likes to cite Martingale as an example of a losing system and then jump into a gloating mode and proclaim that all betting systems are losers.However, a Martingale system can be used with very good results if it is used on a spot basis. Assume that you are wagering on an even-money game and that you have lost the last four consecutive wagers.Usually, a three-stage Martingale against this trend continuing for three more decisions will be quite profitable and the reward will be reasonable as compared to the amount risked.

A five-stage Martingale progression can be used very profitably when it is used against a betting pattern which is less likely to occur than would normally be expected.

Grand Martingale

One criticism of Martingale is that too much is risked as compared to the potential return.For example, in the first Martingale series shown, you would have had to wager $256 in order to win a net $1.With Grand Martingale, additional chips are added to each increasedwager,so thatwhen awinfinallyoccurs, the amount won will be greater than just the amount of the first wager.A typical Grand Martingale series is: 1 3 5 15 35 75.

Martingale in all forms risks a lot to win a little.When the losses come, they will wipe out hours of profits.Another twist to using a Martingale series is to play Martingale in reverse, called an 'Anti-Martingale' betting series.With this system, winning wagers will be pressed (doubled).Whenever you encounter a long winning streak this system can produce phenomenal profits.Assume we use the following Anti-Martingale series:5 10 20 40 80.With five consecutive wins, we will $155, while our total risk is only the amount of our first wager, $5.The high-risk reward ratio is a major reason raising your wagers after wins is recommended by many gaming experts.However, as we saw two chapters back, this type of system wins very infrequently, and the many small losses overwhelm most gains, so that over 90% of all games will end with a loss.

Labouchere

With Labouchere, also known as the Cancellation System, the player sets up a series of numbers which will add up to the profit he will make if he wins this betting series.If he picks 1 2 3 as his series, his expected profit for winning this series is 1 + 2 + 3 = 6.Like the variations of Martingale, this series is used with even-money bets.

To start the series, a player will wager the sum of the two outside numbers, in this case 4(1 +3 = 4).If he wins this wager, he will cancel the two outside numbers by scratching them out, and wager the sum of the next two outside numbers.In this simple series, only the single number of 2 is left, so the player would wager 2.Ifhe also wins this wager, he will have won the series, having won 4 on the first round and 2 for the second wager, for a total of 6, the total of all bets in the series.

Any time the player loses a wager, he will add the amount lost to the series and continue to wager the sum of the two outside wagers.Let's assume the player lost the first bet of 4.He would add this wager to the series, which would now become:1 2 3 4.His next wager would be for 5, the sum of the two outside wagers.We will assume that this bet wins.Having won the bet, our players cancels the outside numbers of 1 and 4 leaving the series as: 2 3.He next wagers the sum of these two numbers, betting 5.If this wager wins the series is completed.If he loses this wager, the losing bet of 5 will be added to the series and he will continue the series.

The principal appeal of this system is that it appears to be a two for one proposition in that each win cancels two numbers while a loss only adds one number to the series.However, this isn't the case, as the player is not paid two for one on winning bets.

In testing this system, I have had bets escalate to wagers of hundreds of dollars all too frequently.This is probably the most insidious of the old time roulette systems.It is said to have been responsible for more suicides on the French Riviera than any other system.Part of the problem with this system is that the small stream of steady wins tends to lull the player into believing that the system can't lose.Unfortunately, a long enough losing streak will occur that the wagers called for will either be larger than the player's bankroll or will exceed the house limits and not be allowed.In either case, the series will be over with the end result that the player suffers a substantial loss.

This system can also be played in reverse, known as Reverse Labouchere.With Reverse Labby, as many punters call it, the amount of each win is added to the series, and the two outside numbers are canceled whenever a loss occurs.Each wager is still the sum of the two outside numbers.This system produces many small losses in exchange for an occasional win over 1,000 times the amount at risk.

Use of this approach is recounted in Norman Leigh's fascinating account of his successful effort to beat the casino in Monte Carlo by playing Labouchere in reverse (Thirteen Against the Bank, William Morrow & Co., 1976).Norman Leigh theorized that the reason so many players lose with Labouchere is that they run into the house limits or lose their playing capital and are unable to recoup losses.Since the bank has almost unlimited capital in comparison to the players, the bank can out wait most player assaults, knowing that either the house betting limit or the player's own limited financial resources will bring about the player's demise.

In using the reverse betting strategy, Leigh reasoned that this approach would most closely resemble the bank's approach to most other players.He would wait out the small losses until a large win occurred.Leigh spent months recruiting and training a team to play against the casino.His trials in pulling off this coup make for fascinating reading.I believe that one of the reasons he was eventually able to beat the casino in Monte Carlo was that his starting wagers were fairly low and the house maximums large in comparison. Consequently, he was able to keep his losses fairly low while his team played on, waiting for the monster win.

It is doubtful that this system could be used successfully now, as the spread between minimum and maximum wagers is not large enough in most casinos.The losses realized while waiting for the large win would be enormous, with the house limits on maximum wagers limiting the systems' ability to ultimately recoup the losses.

D'Alembert

This system was invented by a French mathematician, based on the assumption of equilibrium in gaming contests.D'Alembert reasoned that since winning and losing bets must eventually equal one another, a system of adding one chip after each losing bet and subtracting a chip after a winning bet would ultimately result in a win as winning wagers would always be greater than losing ones.

It is not unusual to win only ten of the first thirty wagers in an even-money betting contest.With d'Alembert's system, the player will wager higher and higher amounts until he eventually runs into our old nemesis, the house limit.

D'Alembert can be fairly successful if it is modified to include no more than nine or ten bets in a series of wagers, so that potential losses are limited.An additional modification to improve the system is to space the bets so that the win of two consecutive wagers will offset prior losses.A series which accomplishes this is 1 2 3 4 7 11 18.With this series, a player would drop back to the lowest bet after winning two consecutive wagers, such as 7 and 4.This system can be fairly successful if used by two partners betting the opposite in roulette, craps or baccarat.

Contra-d-Alembert

Like Reverse Labouchere, the idea behind Contra-d'Alembert is to reduce the amount risked while allowing profitable runs to rise to great heights.With this strategy we will increase our wager one level after a win and reduce it a level following a loss.

The only positive aspect to the strategy is that when you hit a prolonged losing streak the size of your wagers is quickly reduced.In this respect this system can help protect your bankroll.

However, the upside of using any system requiring increasing your wager following wins is limited.Trends of long, uninterrupted winning streaks are fairly rare in gaming and a system relying on piling up win after consecutive win is not going to win very often.

Here's an example.Your first bet is for one unit.You win and move up to betting two units.With another win, you wager three units and have a loss.You have won two out of three bets and have absolutely nothing to show for it.All of your profit evaporated with that single loss.

If you could always pick your spots, this system would have merit.Of course, if pigs could fly . . .well, you get the idea.It is just about impossible to know in advance when a three-wager consecutive win might occur so that you couldjump in with aContra-d'Alembert.Like so many systems, this one sounds good on paper, but is difficult to squeeze profits out of in real world gaming.

Ascot

This is another of the old time roulette systems that can be adapted to any game offering even-money bets.With Ascot, winning wagers are increased one unit at a time in a predetermined series of wagers while losing bets are lowered one step using the same betting series.An Ascot betting series can be from seven toeleven numbers.A typical series is:2 3 5 8 13 20 30.The player's first wager would be a middle number such as 8.If this wager wins, the next wager would be 13.If this wager also won, the succeeding wager would be for 20, and so on, with each win followed by an increase of one level in the betting series.The series would end with the win of the last bet in the series.For a win, that would be a win of 30.A losing series would be terminated with the loss of the lowest bet of 2.

The greatest problem with Ascot is that alternating wins and losses at the higher levels of wagers will destroy the profit potential of the series.This can be a serious flaw in any system calling for a large reduction in the amount wagered following a loss.

The Fibonacci System

Fibonacci was a mathematician who discovered a series of numbers where the sum of each two numbers in the series equals the number which follows.A Fibonacci series with twelve levels of bets would look like:1 2 3 5 8 13 21 34 55 89 144 233 for a total risked of $608.

This is a very low risk system for use with even-money bets at craps, roulette and baccarat.To use it, you will increase your bet one level following a loss.After any win, you drop your next wager one level.If you win two bets in a row, or win two out of three bets, you drop back to the first bet in the series.

This system was sold many years ago for $100 a copy with instructions to use it betting don't pass in craps.This is a good system for partners to use betting opposites.With roulette, for instance, one partner could bet red while the other wagered black.With craps, one would wager on pass line and the other on don't pass.With baccarat, one partner would bet banker and the other on player hands.

Incidentally, there are a number of derivations of the Fibonacci series of numbers, including ratios of the numbers, which are regularly used in trading stocks and commodity future contracts. This is indeed a versatile and powerful sequence of numbers.

The Parlay

A parlay or paroli is a positive progression method. In its simplest form, it consists of leaving a winning bet plus the winnings up for a second win.If you are betting $10 on an even-money bet and win $10, you parlay the wager by leaving $20 up for the next decision.If this bet wins, you will have won $30 while only risking $10.

Probably the most attractive aspect of a successful parlay is that it wins three times as much as the amount risked.However, the probability of winning two bets in a row on even-money wagers is less than one in four.For this reason, one of the better ways to use a parlay is to combine it with a series of bets where the amount wagered is increased following a loss.For example the following parlay progression could be used:2 2 3 4 6 8 12 16.To use this series, you would normally start with the first wager in the series.If this bet won, you would parlay it and next wager $4.If either the original wager or the parlay lost you would move up one level in the betting series.Any time a parlay bet is won, you will start the betting series over.If the series is lost, you may either start the series over or leave the table.

Setting up parlay progressions like the one above can be the basis for some of the best performing betting progressions in gambling.To use such a series in blackjack, which requires additional money in order to handle pair splitting and doublings, requires adjustments to the series.One way to handle this is to modify basic strategy to reduce the number of splitting and doubling plays.However, this is not a wise way to play blackjack as these moves represent one of the player's strongest winning options.A better way to handle the program of developing a winning parlay progression for blackjack is to modify the progression so that it allows for splitting and doubling opportunities.

Oscar's Grind

If you want to use a system with very little risk of loss, here's the one you want.

Oscar has a target of winning one unit at the end of any successful betting series.That's it.One unit.Here are the rules:

1.Increase your bet by one unit after every win; provided that winning the wager won't result in a series gain larger then one unit.

2.Never change the size of your bet following a loss.

Success Stories Of Famous People

Assume that your betting unit is $5 and you are betting don't pass.You find yourself fighting a hot streak and you have lost six bets in a row for a cumulative loss of $30.You continue to bet $5 since you never change the size of your wager following losses.You bet $5 again and win.Now, with one win and six losses, you are down a net $25.Following the win, you raise your bet one unit and wager $10.This wager also wins.You have reduced your net loss to $15.You raise your next wager one more unit to $15 and win.You are now even.Your final wager will revert to $5.Why?Because of the rule limiting the size of a wager to one which will not result in a gain larger than one unit.

Your last bet of $5 wins.You now have a net win of $5, having lost six bets and won four.

Even this system can take you to high levels on occasion.If you find yourself in a situation where you have occasional wins followed by multiple losses, the size of your wagers will continue to grow.If you run into this situation, you will be forced to stop the series at some point and accept a loss, rather than risking larger and larger amounts of money.

Patrick's System

John Patrick, a professional gambler turned writer, presented another positive betting system for blackjack, which can also be used for baccarat.In his John Patrick's Blackjack (Carol Publishing Group, 1995) he describes his system.He uses a system with both progressive and regressive attributes.With his system, you will start with a wager at least twice as large as the table minimum so that you have room to reduce the size of your bet after wins.After your first win, your next wager will be one-half the size of the first winning wager.For instance, if your base bet is $10 and you win, you will wager $5 next.After any net loss you will revert to the original starting bet.However, if you can manage to win the second bet in a series, you will return to the two-unit bet and increase the amount wagered after any additional win.

A series of six wins at a $10 minimum table would look like:20 10 20 30 40 50 for a total of $170 won.