So, the 6 consecutive winnings happened only twice in 225 spins in sequences 52 and 218. Note that I'm showing 25 additional spins to the other tables to show the second occurrence of this 64 chip gathering feast. My simulations run up to 1000. And this happens about 6 times within 1000 spins, not always generating a big profit because of the amount of chips that need to be placed bet after bet until a streak of six consecutive wins happens. This requires quite a lot of patience and endurance. My strategy would be to quit the moment you hit that 64 (or rather 63) chip profit that puts you ahead. This happens at sequence 52, where your profit jumps to $400. A very good time to quit.
I will not go into a 7 consecutive winning simulation, as you need to be lucky for it to happen once in 200 spins. When it
happens you will be cashing 128 chips or $1270 profit and the sooner it happens the more you would profit. Whether it will ever happen or not is less predictable than 3 or 4 consecutive winnings.
Statistically seven consecutive same-decisions will happen 4 - 5 times within 1000 spins, but the profits it would generate will
strongly depend on how soon they happen. You can take a look at all the 4 tables above. You will notice that in Table 1, we had 7 consecutive winnings in sequence 17 and in Table 4, we had 7 consecutive winnings in sequence 53 and 10 consecutive winnings in sequence 222.
My conclusion is it might be best to choose to collect after 4 or 5 consecutive wins. This seems to produce more consistent results. If you are very patient and are willing to wait for 6 consecutive wins, you may do so. Patience may pay off, particularly if you are lucky and your first winning streak occurs soon enough. At the other extreme, if you don't want to risk a big bankroll and would be happy collecting small wins more frequently, then the 3 consecutive winning level is your best choice. Or you may start with the 3 consecutive winning level and as your profit grows, you would increase the level to 4, and then to 5.
Money management in this method is self-explanatory as you are risking not more than 1 chip per run. You just quit whenever you feel like or whenever you have won what you hoped for. Remember the strategy of quitting when your profits decrease by half or by $100 (or 10 units) from its peak. If you don't get greedy and don't chase losses you won't get in trouble playing this system.