Tuesday, August 30, 2011

When to Cash Out (Part 3)

Last time I told the story of a friend who while not making any major mistakes in life, was not happy in it. The reason was that he knew what to avoid, but not what to seek. In short, he failed to plan his life and therefore, coasts along through life, essentially failing.

The axiom “If you fail to plan, you plan to fail” is appropriate.

The same is true for your bot. Why did you get a bot in the first place? What are your goals for it? Is it to supplement your collection? Is it to get rid of excess inventory from your drafts? Is it to make money? Obviously, I can not answer that question for you. But how YOU decide to answer that question will guide you to the answer to the real question: When do I cash out?

Let's start with the simple scenario: A proficient drafter plays several times a week, and as such has accumulated a plethora of commons. Said drafter has a bot to sell off excess inventory. Their plans are to keep things simple: Not a lot of time spent managing the bot. So to this person, the answer to “When to cash out” is simple: When there are a certain amount of tickets, go ahead and sell tickets for cash.

I know, nothing Earth-shattering there, but we start with the obvious cases first. We'll get into more detail next time.

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