Hello all Advantage Players!
Quick introduction, I am new to counting, have been following threads here for a few weeks and have read Thorpe (Beat the Dealer), Wong (Professional Blackjack) & Griffin (Theory of Blackjack).
For the past three months I have been counting, averaging 1-2 trips to the casino per month, with 3-4 hrs of play per visit. My bankroll, though originally 5K has grown over this period to just under 7K.
When I visit the casino, my standard practice is to bring $500 (what I call a trip unit), with access to the rest if necessary. I typically play $10-$15 tables with the following rules: S17, DAS, DA2, LS, 8 Deck, ~75% penetration.
My betting strategy has been to stay at table minimum on all negative counts, and green chip on all 0+ counts with a 1-3 spread and on some favorable occasions play two hands. I have also created a rule for myself where at the end of any shoe of any table session, I will get up and leave that table, if my chip count is at a session high (for that table) and exceeds a minimum of $200 in winnings. I should also note that when I initially sit, I change $300.
I mentioned the $300 buy-in because with my minimum $200 win rule, I often get colored up to a purple chip upon leaving the table, which has drawn some mild attention. On a couple occasions I have had pit bosses congratulate me on my play, and my ability to leave while I�m ahead.
I utilize Hi-Lo, which I follow on counts �1 through +3 (the only set of #�s I have been able to put to memory thus far), and strict basic strategy on everything else.
My experience with this formula has been profitable. With the exception of one session during which I had to buy-in an additional �trip unit�, I have never depleted my initial $500. Also, I have had only one losing trip, which was for $300.
I will also note that my average win rate to date has been ~$90/hour, which I realize is well beyond my expected win rate (based on my wagers)
1. Am I drawing unnecessary attention to myself by coloring purple when I leave the table? Should I just walk with all green?
2. With my betting strategy, amounts and bankroll, how safe am I from a statistical bankroll ruin?
3. Is this an extreme short-term streak, or is this performance within expected parameters?
4. What is a good rule of thumb for determining when it�s time to leave a table (cut losses or pocket wins) or the casino for the day?
I appreciate any advice you more experienced players could offer.