First thing is we all should know is that, gambling is for fun not for making profits. But still if you want try your luck some times than you should load money, which you can afford to lose and don't gamble emotionally instead for each game you fix maximum loses. Once you reach your loses, just accept the lose and gamble after some time to try your luck again. Don't ever try to chase profits in gambling. Good luck to all.
This is correct. If the house has an edge at all then statistically speaking you will never end out on top. If you cash out after a big win and stop playing for good, then you can consider yourself on top, but most people do not stop after winning. Maybe that night they will, but eventually they will play again.