Monday, March 7, 2011


A realization I made with poker is that if I am doing well, I need to keep playing.  This sounds obvious but when I played at GardenCity casino I was doing well and after success I decided to "lock in" my earnings and leave.  This was great and I did well, but in reality if I am winning then I need to keep playing against the same people and trust that success means I will have further success.

If I am losing, on the other hand, I should leave immediately and cut my losses rather than keep going and trying to make each session a winning one.

Its a bit like the old "taxi-driver" conundrum.  If cab drivers set a pre-set goal of earnings each day, then some days they will finish early because there is a lot of business, and other days they will work long hours to make that goal.  But the most profitable thing to do is the opposite:  quit on slow days, but work long hours on days that are busy because it is the busy days that they can make the most money.

Likewise, if and when I'm doing well at poker is when I need to stay at the table for a few extra hours playing against weaker opponents, but when I am doing poorly and playing against better people, I need to have the awareness to get up and leave and not stay indefinitely.

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