"You cannot survive without that intangible quality we call heart. The mark of a top player is not how much he wins when he is winning but how he handles his losses. If you win for thirty days in a row, that makes no difference if on the thirty-first you have a bad night, go crazy, and throw it all away." Bobby Baldwin
Individuality. It’s what makes us unique. Other than physical characteristics, there are intangible qualities that exist among many individuals because in the end we are all human. I have identified several of these intangible attributes as distinct weaknesses that refrain players from being consistently profitable. If you've played poker seriously for any amount of time, you've probably hit a downswing & downswings can be completely demoralizing. Downswings cause frustration & frustration develops into tilt that will cause you to adjust to a less than optimal strategy that will eventually lead to mistakes. Downswings are inevitable, but what separates the great players from the good players is their ability to adapt during these unavoidably brutal episodes.
If we strip poker down to its core, it’s essentially a constant emotional struggle for superiority based upon mathematical computations & interpreting the significance of intrinsically incomplete information. Thoughts determine actions & actions determine results, although past results have no direct relationship on future outcomes. I believe that poker psychology is the defining characteristic that is the ultimate difference between breaking even & profitability. Truth can be our most deceptive psychological asset, while lack of emotional control over an extended period of time can only lead to downswings & lack of profitability in our win rate.
Living in the shadows of ADHD & Bipolar disorder, it becomes increasingly more difficult to control the emotions in turn which control me. Impulsivity is merely a lack of consciousness which I happen to experience quite often, but can often lead to the never-ending pursuit of satisfaction for attaining material possessions or exaggerated sense of self-importance. Fear & negativity can only lead to further detrimental behavior that embodies an extreme lack of self-control. The fact of the matter is that it is imperative for me to recognize the situation & react accordingly. The only way for me to take control of my emotions is to develop self-discipline & make rational decisions to rise above the adversity that was created by my unconscious thought process.
Wednesday, March 31, 2010
Sunday, March 14, 2010
Ambiguities of online poker
“It's hard work. Gambling. Playing poker. Don't let anyone tell you different. Think about what it's like sitting at a poker table with people whose only goal is to cut your throat, take your money, and leave you out back talking to yourself about what went wrong inside. That probably sounds harsh. But that's the way it is at the poker table. If you don't believe me, then you're the lamb that's going off to the slaughter.” Stu Ungar
Over the last few months I have been primarily playing online and all I have to say is that the results are far less than spectacular. I utilize HUD software to analyze my sessions and break them down into meaningful information. This helps me decipher opponent’s tendencies as well as my strengths and weaknesses. Now I understand that poker is a game of adaptability, but the absence of a physical human being sitting at a table across from you & the inability to physically view your surroundings is mentally exhausting. Full Tilt’s introduction of Rush Poker has become the next poker epidemic which is similar to playing bingo on crack. The lack of table dynamics & post flop play make it a quite attractive venture. Unlike a standard ring game, rush poker consists of large pool of players & every hand is played at a different table. The beauty of this is if the hand that’s dealt is less than desirable, the quick fold option can be selected & the player is moved to a new table before the flop of the previous hand is even dealt. This is also great for players with ADHD & the lack of patience.
There are only two things certain in life, death & taxes. In the United States, it’s more like pwned by the Chinese. Instead of practicing irresponsible fiscal policy, maybe the United States government should consider the economic benefits of legalizing & regulating online poker. In its current state I have feelings of uncertainty toward online poker. There are too many critical aspects that leave online poker vulnerable to the next Bernard Madoff “Ponzi “scheme. “A Ponzi scheme is a fraudulent investment operation that pays returns to investors from either their own money or money paid by subsequent investors, rather than from any actual profit. The scheme usually entices new investors by offering returns other investments cannot guarantee, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the returns requires an ever-increasing flow of money from investors to keep the scheme going.” This is actually conceivable considering that the online poker market continues to grow at an astronomical rate.
When it comes to computers & technology I am usually skeptical, because they can be compromised. Unlike human beings, morals do not exist in technology. Trust me I am a firm believer in that history tends to repeats itself. Take prohibition in the early 1900’s for example. From 1920-1933 the manufacture, sale & transportation of intoxicating liquors was illegal in the United States. Organized crime recognized this imbalance of supply & demand & the realization of a profitable business venture on the black market took place virtually overnight. Although online poker & prohibition do not necessarily parallel identically, the moral of this comparison is to identify the potential weaknesses of the online poker industry. Online poker is considered to be illegal in the United States via the unlawful internet gaming enforcement act of 2006 (UIGEA), but the industry continues to grow exponentially reaching approximately $7 billion dollars in annual revenues, with the United States consisting of approximately more than 1/3 of the global market.
We are in the midst of an economic crisis. Although illegal, online poker continues to grow exponentially. Identity theft & white collar crimes are highly prevalent in today’s society. Now do you see the parallels for comparison? After conducting some research, I found it interesting that legal ambiguities diminish accountability. Instead it tends to protect the financial interests of online commerce instead of the reason for its existence, the customer base. With that being said, why would online poker sites not want to protect its customer base? This question could create an interesting debate. Most sites do not offer disconnection protection, unless it had to specifically correlate to site server failure & there is a point of disconnect where the site legally separates accountability for any losses incurred. This occurs when private hole card information is transmitted from the server to the player’s personal computer. Once received it is then decoded by the software & made visible in a publicly readable format. This is the most evident situation of susceptibility against potential collusion or deception. It is conceivable that malicious software could gain access to a personal computer, thus gaining access to private hole card information & transmitting it to a third party. If you believe that this is not even a logical possibility, then you must have forgotten that MIT still exists. Playing poker is a tough way to make an easy living, but someone has to do it.
Don't forget to listen to WTF Poker hosted by Jack McAdoo, Danielle Adams-Benham & Hannah Elisabeth only on www.pokerpodradio.com. Putting the broads back in broadcasting to go. Remember there is no substitute for profanity. Enjoy!
Over the last few months I have been primarily playing online and all I have to say is that the results are far less than spectacular. I utilize HUD software to analyze my sessions and break them down into meaningful information. This helps me decipher opponent’s tendencies as well as my strengths and weaknesses. Now I understand that poker is a game of adaptability, but the absence of a physical human being sitting at a table across from you & the inability to physically view your surroundings is mentally exhausting. Full Tilt’s introduction of Rush Poker has become the next poker epidemic which is similar to playing bingo on crack. The lack of table dynamics & post flop play make it a quite attractive venture. Unlike a standard ring game, rush poker consists of large pool of players & every hand is played at a different table. The beauty of this is if the hand that’s dealt is less than desirable, the quick fold option can be selected & the player is moved to a new table before the flop of the previous hand is even dealt. This is also great for players with ADHD & the lack of patience.
There are only two things certain in life, death & taxes. In the United States, it’s more like pwned by the Chinese. Instead of practicing irresponsible fiscal policy, maybe the United States government should consider the economic benefits of legalizing & regulating online poker. In its current state I have feelings of uncertainty toward online poker. There are too many critical aspects that leave online poker vulnerable to the next Bernard Madoff “Ponzi “scheme. “A Ponzi scheme is a fraudulent investment operation that pays returns to investors from either their own money or money paid by subsequent investors, rather than from any actual profit. The scheme usually entices new investors by offering returns other investments cannot guarantee, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the returns requires an ever-increasing flow of money from investors to keep the scheme going.” This is actually conceivable considering that the online poker market continues to grow at an astronomical rate.
When it comes to computers & technology I am usually skeptical, because they can be compromised. Unlike human beings, morals do not exist in technology. Trust me I am a firm believer in that history tends to repeats itself. Take prohibition in the early 1900’s for example. From 1920-1933 the manufacture, sale & transportation of intoxicating liquors was illegal in the United States. Organized crime recognized this imbalance of supply & demand & the realization of a profitable business venture on the black market took place virtually overnight. Although online poker & prohibition do not necessarily parallel identically, the moral of this comparison is to identify the potential weaknesses of the online poker industry. Online poker is considered to be illegal in the United States via the unlawful internet gaming enforcement act of 2006 (UIGEA), but the industry continues to grow exponentially reaching approximately $7 billion dollars in annual revenues, with the United States consisting of approximately more than 1/3 of the global market.
We are in the midst of an economic crisis. Although illegal, online poker continues to grow exponentially. Identity theft & white collar crimes are highly prevalent in today’s society. Now do you see the parallels for comparison? After conducting some research, I found it interesting that legal ambiguities diminish accountability. Instead it tends to protect the financial interests of online commerce instead of the reason for its existence, the customer base. With that being said, why would online poker sites not want to protect its customer base? This question could create an interesting debate. Most sites do not offer disconnection protection, unless it had to specifically correlate to site server failure & there is a point of disconnect where the site legally separates accountability for any losses incurred. This occurs when private hole card information is transmitted from the server to the player’s personal computer. Once received it is then decoded by the software & made visible in a publicly readable format. This is the most evident situation of susceptibility against potential collusion or deception. It is conceivable that malicious software could gain access to a personal computer, thus gaining access to private hole card information & transmitting it to a third party. If you believe that this is not even a logical possibility, then you must have forgotten that MIT still exists. Playing poker is a tough way to make an easy living, but someone has to do it.
Don't forget to listen to WTF Poker hosted by Jack McAdoo, Danielle Adams-Benham & Hannah Elisabeth only on www.pokerpodradio.com. Putting the broads back in broadcasting to go. Remember there is no substitute for profanity. Enjoy!
Monday, March 8, 2010
What is variance & how does it apply to poker?
What is variance and how does it apply to poker? Variance simply measures uncertainty & in poker many decisions are based upon incomplete information. For example in a full ring game prior to the flop being revealed, 17 of the 19 cards dealt are unknown. This includes the burn card. So the only information that is available is to look for specific betting patterns, psychological tendencies, physical mannerisms, stack size & position. “For every action there is a complete and opposite reaction.” (Isaac Newton) This statement is not only true concerning the laws of physics in relation to motion, but also applies to many situations that occur in poker. This is why understanding table dynamics is imperative. When seated at a new table it is crucial to determine the table dynamics. Identify which players are aggressive or passive by their pre-flop actions and how many hands they play. Becoming aware of betting patterns & the range of hands that players may play post flop as well as how they tend to play them are fundamental aspects in reading players. After the table dynamics are read, your table image can manipulate the dynamics of the table and ability to change gears will determine long term success.
In probability theory and statistics, variance is the expected value of the standard deviation squared of that variable from its mean. Statistics can prove that the luck factor exists on a short term basis, but in volume, skill & the math will prevail. Kind of like the tale of the tortoise & the hare. It’s not a race. It’s a marathon. Slowly but methodically the tortoise (skill) will triumph. Expected value (EV) & variance are directly proportional to the volume of hands played. EV is the expected outcome on average for a certain action used consistently over an extended period of time. Online it seems that bigger swings of variance will be experienced due to the volume of hands played per hour.
Poker is a game of conscientious decision making, emotional control & making the correct plays from a positional/mathematical standpoint over a long period of time. Avoiding or managing tilt is crucial to becoming a better player. Tilt is a state of psychological perplexity or aggravation in which a player implements a detrimental strategy, typically resulting in the player becoming overly-aggressive. A technique that is generally used to manage tilt is to disregard the unfavorable outcomes of pots, especially those that are statistically uncommon; they are the products of variance, not bad strategy.
The psychological adjustments that are necessary to make the transition from primarily playing in live cash games to tournament play online can be extremely difficult. I prefer to play deep stack no limit hold-em. Normally in a live cash game my stop loss limit is set at 3 buy-ins which is roughly 450bb or $2250 for 2-5 no limit. This strategy requires a bankroll of approximately 30 buy-ins or 23k. & having an adequate bankroll is essential to longevity in playing poker. Well I had to learn that lesson the hard way. I built up a starting bankroll of approximately 10k & built it up as high as 80k but never fell below 60k when it came to poker. Now spending night after night in strip clubs, high priced hotels & restaurants, I finally reached a breaking point that leaves me where I am today, felted. When you stay up from days on end, party like there is no tomorrow & of course have a little assistance from self medicating it has shown me that there is no room for that type of reckless lifestyle if you want to be on top of your game. Now I am still trying to make the transition to online poker & I am finding out that the potential is there I just need a proper bankroll and put in more volume to create an accurate assessment of my success or failure. Until then I will just have to continue the daily grind .
In probability theory and statistics, variance is the expected value of the standard deviation squared of that variable from its mean. Statistics can prove that the luck factor exists on a short term basis, but in volume, skill & the math will prevail. Kind of like the tale of the tortoise & the hare. It’s not a race. It’s a marathon. Slowly but methodically the tortoise (skill) will triumph. Expected value (EV) & variance are directly proportional to the volume of hands played. EV is the expected outcome on average for a certain action used consistently over an extended period of time. Online it seems that bigger swings of variance will be experienced due to the volume of hands played per hour.
Poker is a game of conscientious decision making, emotional control & making the correct plays from a positional/mathematical standpoint over a long period of time. Avoiding or managing tilt is crucial to becoming a better player. Tilt is a state of psychological perplexity or aggravation in which a player implements a detrimental strategy, typically resulting in the player becoming overly-aggressive. A technique that is generally used to manage tilt is to disregard the unfavorable outcomes of pots, especially those that are statistically uncommon; they are the products of variance, not bad strategy.
The psychological adjustments that are necessary to make the transition from primarily playing in live cash games to tournament play online can be extremely difficult. I prefer to play deep stack no limit hold-em. Normally in a live cash game my stop loss limit is set at 3 buy-ins which is roughly 450bb or $2250 for 2-5 no limit. This strategy requires a bankroll of approximately 30 buy-ins or 23k. & having an adequate bankroll is essential to longevity in playing poker. Well I had to learn that lesson the hard way. I built up a starting bankroll of approximately 10k & built it up as high as 80k but never fell below 60k when it came to poker. Now spending night after night in strip clubs, high priced hotels & restaurants, I finally reached a breaking point that leaves me where I am today, felted. When you stay up from days on end, party like there is no tomorrow & of course have a little assistance from self medicating it has shown me that there is no room for that type of reckless lifestyle if you want to be on top of your game. Now I am still trying to make the transition to online poker & I am finding out that the potential is there I just need a proper bankroll and put in more volume to create an accurate assessment of my success or failure. Until then I will just have to continue the daily grind .
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