[Zetack]

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The tight player is a pro. He's playing to make his monthly nut. I know he's been running bad lately, and this was the 30th of the month. For all I know, he had rent or a car payment or a mortgage payment coming up, and the amount he won in the game put him over the top.

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This kind of reminds me of my days when I was in poverty and living with multiple roommates. One discussion went something like this:

Roommate: I was thinking of not paying the rent until this Saturday since that's when it's due in case something comes up.
Me: That's a horrible idea.
Him: Why?
Me: Is either of us getting paid between now and then?
Him: No.
Me: So, let's say there's an emergency. We spend the rent money. Now what?

So extending this to the poker example...Hero has X amount of money, and a mortgage payment of Y tomorrow. Hero decides to quit the game because X-Y isn't enough to continue playing poker.

Tomorrow he pays the mortgage. He now has a total bankroll of X-Y which isn't enough to play poker. Now what?

If I'm misinterpreting the argument I apologize (though I still think this is an important point to make), but this is an important point to make and just further solidifies my view that stop-losses are only good for psychological reasons. If hero is quitting because "rent is tomorrow" then he needs to move down in limits or get a day job.

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I thought this point was perfectly clear.

Pro needs a bankroll of X to play the game. He has rent due tomorrow of $680 dollars. No other pressing bill are due for another two weeks. At the point he stops playing he has X plus 800 dollars.

If he stops he can pay his rent and has two weeks to win enough to pay his next bills. If he keeps playing and drops say 500 bucks, now he has X + $300 and has to dip into his bankroll to pay his rent tomorrow and then has to decide whether to drop levels or play on a short roll.

It doesn't seem like a difficult example. And to me it makes perfect sense. Sometimes short term considerations can outweigh longterm considerations. Postive EV is a longterm consideration. What's confusing about that?

--Zetack