Lucky run as a beginner ... when is it time to quit?

[set57hike]

I never played poker before, but I got interested in 7 card stud from watching a colleague play. I lost about 200BB playing $.5/$1 tables and decided to quit. I played terribly. However, the interest was lit, and after learning a little bit more, I gave it another go about a month later. It is now 3 weeks into my second try and I'm ahead about 330BB on the $3/$6 tables after paying back my previous failure.

However, I've started going downhill. I'm down about 130BB from my all time high of 460BB. If I owned a stock that went down more than 25% like that, I'd probably sell. Do you think it is time to quit while I'm (still) ahead?

[OrangeHeat]

[ QUOTE ]
If I owned a stock that went down more than 25% like that, I'd probably sell. Do you think it is time to quit while I'm (still) ahead?

[/ QUOTE ]

If your thinking like this - you do no know enough about poker in general. Quit now or learn more about the game.

If your a winning player your poker BR should not be compared directly to a stock. Unless you can find stocks with 1000% returns yearly.

Orange

[Grisgra]

[ QUOTE ]
Do you think it is time to quit while I'm (still) ahead?

[/ QUOTE ]

If you're not willing to study the game, yes, quit and enjoy your profits!

[jedi]

Welcome to the boards.

Study, study, study. Then play and study, play and study.

The actual answer to when to leave the tables isn't predicated on how much money you have. Assuming you're playing at a stake that's right for your bankroll, leaving the table should depend on whether or not you think you have an edge on your opponents. This is primarily determined by the skill of your opponents, but also on other factors such as your own fatigue, tilt level and distraction level.

Good luck, play well.

[flair1239]

[ QUOTE ]
I never played poker before, but I got interested in 7 card stud from watching a colleague play. I lost about 200BB playing $.5/$1 tables and decided to quit. I played terribly. However, the interest was lit, and after learning a little bit more, I gave it another go about a month later. It is now 3 weeks into my second try and I'm ahead about 330BB on the $3/$6 tables after paying back my previous failure.

However, I've started going downhill. I'm down about 130BB from my all time high of 460BB. If I owned a stock that went down more than 25% like that, I'd probably sell. Do you think it is time to quit while I'm (still) ahead?

[/ QUOTE ]

I only know a little about stud, but I know it can be a pretty swingy game.

I don't thin the choice is between quitting and playing. But should be between sturying more and trying to win at your current level or studying more and playing a lowere level.

Either way study more.

[mason55]

Why not step down to a lower level? You've made back your losses (a very risky thing to attempt, btw), so move back to microlimits where you can really learn the game. Jumping into 3/6 after you went bust at .5/1 is crazy, so now that you've gambled and made your money back, take it easy, and learn the game. The players at microlimits will be much worse and you won't kill your bankroll nearly as quickly. Once you really learn the skills necessary you can slowly move back up.

[QuadsOverQuads]

Time to quit (at least at the 3/6 level) is now.

It sounds like you're experiencing wild, wild swings, which is the hallmark of a gambler, not a solid and tight poker player.

So enjoy your winnings, back away from the table, pick up Theory of Poker (Sklansky/Malmuth), Seven-Card Stud for Advanced Players (Sklansky/Malmuth), 7 Card Stud (Roy West), and go from there. When you finish working through them, then start at the micro-limits and test your skills. Learn from your results, study more, and repeat as necessary. Once you've established a winning record at the lower limits, then -- and only then -- should you consider moving up (and even then, only if you are properly bankrolled).

So for now, enjoy your winnings. And your first assignment is : hang onto them.


q/q

[mosquito]

Don't quit until I've had a shot at your stack. What
site are you playing at? /images/graemlins/grin.gif

[set57hike]

After losing more on Friday, I've decided to quit. Thanks for the suggestions.

[Hasso]

For God's sake. Have you ever thought of just enjoying yourself, say if after 1000 hours play you're $1000 down, you've taken part in an enjoyable pastime thats cost you $1 an hour. Think of another hobby thats so mentally stimulating and yet so cheap. /images/graemlins/smile.gif I don't play to lose money nor break even, but i do enjoy playing. Why do you feel the need to analyse everything to hell, you sound like the kind of player thats going to come out ok in the long term, in the meantime enjoy while your learning.

[StellarWind]

[ QUOTE ]
If I owned a stock that went down more than 25% like that, I'd probably sell.

[/ QUOTE ]
Tax considerations aside, why would you do that?

I realize that such theories are popular in the investment community, but this type of thinking is wrong and shows that you do not understand the basics of gambling.

The price you paid for a stock is irrelevant. The money you have lost in a stock is gone. The money you have made in a stock is now your money. All that matters are the current price and future prospects for gain and loss.

This is the exact same thing as quitting a good game because you are stuck.

You obviously have a lot to learn. Quitting poker is a valid option that may be right for you. Playing for fun and accepting any losses that occur as entertainment expense is also valid.

If you want to be a winning player return to 0.5/1 and start studying. Don't move up again until you are sure you are a winner. Don't skip levels again. Treat the levels as a staircase at least until you are an expert and know when you can disregard this advice.

[BeerMoney]

[ QUOTE ]
I never played poker before, but I got interested in 7 card stud from watching a colleague play. I lost about 200BB playing $.5/$1 tables and decided to quit. I played terribly. However, the interest was lit, and after learning a little bit more, I gave it another go about a month later. It is now 3 weeks into my second try and I'm ahead about 330BB on the $3/$6 tables after paying back my previous failure.

However, I've started going downhill. I'm down about 130BB from my all time high of 460BB. If I owned a stock that went down more than 25% like that, I'd probably sell. Do you think it is time to quit while I'm (still) ahead?

[/ QUOTE ]

Please don't quit. Seriously.

I don't want you to quit because I know how much you can contribute to these forums. I've seen other posts of yours and would really appreciate if you hung in there.

However, if the losing stings too much, get out and just forget about poker.

[jonnyv]

Study, study study!!! Buy some books and learn the game before you return to the money tables good luck and post some hands.

[set57hike]

I took a couple of days off, but regained some confidence and tried again. I mostly played 3/6 and now I'm back to within 10-20BB of my all-time high. Thanks for responding to my self-indulgent post.

[Zygote]

yes quit. you should only play more if you are willign to learn and commit to beating the game. As of now, you went on a run while playing for entertainment. If you wnat to take it seriously, do some intense studying and work yo uway up to the 3/6 (don't start there!) after beating all lower levels. You don't seem to have a lot of poker theory on your belt so i suggest you buy Malmuth's Poker Essay's and Theory of Poker.
So my advice is quit, don't make me ever have to say i told you so!

Good luck with your endeavors.

[BeerMoney]

I think your maniacal style and swings will lead to incomprehensible swings. Your style of play may not allow you to sustain a long run of cold cards.

[Cerril]

I went through this at 2/4, then 3/6 and 5/10. I was off to an insanely good start, and when I hit a downswing that dropped my bankroll by 50% I realized I was just lucky (that thought had been dawning on me) and dropped back immediately to .5/1 and studied until I felt I was more good than lucky before slowly moving up.

If you aren't interested in taking it seriously, play much lower stakes for fun or don't play it at all (at least, if you care about the money)