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Old 12-17-2005, 09:01 AM
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Default Re: Utility of Money vs Utility of Income

Another tactic is the 'realist' approach, believing that these factors are irrepressible, and that we will have a constant struggle with them.

In this regard, you can take steps to physically ameliorate the problem. When you are on a losing streak, you should quit playing. Better to be doing nothing than losing money at the table. You can change games and step down in blind/buyin levels and play an angry, cheap game to expunge your urges that lead to -EV. Study these psycological -EV tendencies. Bathe in them. Learn and grow comfortable with them so they are not intimidating in the future.

This is similar to blackjack strategy, where you would count cards and invest heavily when the deck is +player EV, and bet minimum or go to a different table when the deck is heavily favored to the house.

Invest in premium games on days when your disposition is light and sunny, and you are feeling fine. When you hit downturns, relax, take the pressure off and play some cheap fun poker for a while.
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