Your level of investment in any given race must be based upon relative chances of that outcome occurring.
Altering your stake for any of the following reasons is simply not acceptable:
• You needed to pay your rent, rego, or other bills
• You had to fill the car with petrol
• You need to recoup losses from a bet that you thought was a moral, by plunging into another bet that was not planned.
Your level of investment should not be affected by the way your punting day is going (either good or bad).
The following will see you broke and real quick:
• Progressive staking plans
• Doubling up
• Level staking horses of unequal chance
• Radically increasing your bet size after strong periods
• Radically reducing your bank size after poor periods
I won’t bore you with the maths behind it, but if you are staking more than 3.5% of your bank regularly per race, you will be broke eventually.
It may take a while, but it will happen.