Not Dead

Still kicking, just directing my kicks at topics like discrete mathematics for my degree. In my free time (and sometimes in the background while I work) I have been building a poker bankroll and diverting bits to my bank account. Along with other funds, I hope to have a small starting amount for a futures account come post-finals. Until then, I don't really have enough cash on hand to do much in the markets (much less morning time--PST here). I'll try to keep the updates coming.

Three Simple Rules

I'm back in the poker game (wishing I could also trade--not happening with 8am classes) and several of my friends have asked me for tips on how to make money.

I wanted to keep it simple (they are relatively new to the game) so I told them to remember these three things:

1) Play pocket pairs, but, without top pair or trips, fold after seeing the flop. I make a ton of money playing pocket pairs, hitting trips (11.75% of the time) and playing the, unexpected, best hand.

2) Safest bet: face cards.. You can play ace ten (cautiously) or even king ten. But I try to stay away from queen ten and jack ten unless I have good position and a good read on the other players. It just sucks to hit a pair of jacks and to be beaten by a better kicker.

3) Poker is a slow game. It is not supposed to be exciting. You will want to do a lot of folding. As you get better, you will learn that good folding is what makes you money and keeps you money.

Worst Thought Ever

Things look bad, but this* could happen..if I just stay a little longer.


*Something unlikely

Risk Free?

One of the first things you should learn is that nothing is risk free and that taking risk (real and perceived) is what gets you paid.

Systems that advertise risk free strategies are disingenuous.

Deception

"All warfare is based on deception." - Sun Tzu, The Art of War

Pace

Another key to success--think: the tortoise and the hare, albeit perhaps you can find a reasonable speed in between those two extremes. Slow down (note: that is most likely needed) to a speed that you can consistently maintain. With caution, ever so slightly increase the speed and watch as you build endurance.

Before you know it, you'll be stronger than you were. Because you developed the strength over time, it will remain with you that much longer--similar to a habit.

Subjective

Playing the man/market means ignoring the underlying reality of the situation and going for the underlying psychology of the situation. Who cares if supply and demand do not reflect the current market value? Who cares if you only hold 23o? Get them to fold at the wrong time. Sell to them at excessive prices. Let fear and greed rule the day. And embrace the subjective experience.