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Should You Set Stop-Loss Limits?

The same logic applies to stop-loss theory. If you plan on playing again and believe you can beat the games, is there any real difference between quitting now and quitting later?

We don't think so. If the game is so tough that you think you can't win, you shouldn't play in it at all. If all the other players at your table are more skillful than you, it's time to find a different game. Even if you've been on a hot streak beating that games, you can expect to eventually go broke playing against better players, and it makes absolutely no difference whether or not you practice money management. But if you're a favorite, it usually pays to keep playing, regardless of whether you're ahead or behind at any given moment.

"So when doesn't it pay to keep playing?" you might ask. Here's our answer: When you'd be shirking important commitments, or when you've lost so much that you can't keep playing without wagering the rent money, you'd better call it a night. Or if you're so whipsawed from losses that you're drained and psychologically beaten down, a good night's sleep will restore your equilibrium. You need to be on an even keel to play sound, winning poker.

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