[SpeakEasy]

Goal setting is one answer.

Your issue is the same issue discussed in investment literature. The pain that people feel from losing money in the stock market outweighs the pleasure of gaining money in the stock market. Oddly enough, this leads to a losing investment strategy.

When a portfolio is up, these people say "Fabulous, I'm up. Let it ride." They don't sell and lock in profits. When a stock drops, these people say "Crap, my stock is dropping. I don't want to lose any more money. I'd better sell before I lose my shorts." They sell when the stock is down, but don't sell when the stock is up, thereby locking in losses without locking in gains.

One solution is to set a goal, and manage your portfolio/bankroll to achieve that goal. In terms of poker, set a goal. For example, "I'm going to double my bankroll in six months." Or maybe, "I'm going to win an extra $2000 within 6 months, pull that out, and buy a great stereo." Take every opportunity to lock in your wins and build your bankroll. This allows you to put your competitive side to productive use.

Use your competitive nature to play your "A" game each and every time you sit at the table. Focus on your goal, not the ups and downs of the session today and yesterday.

My recent goal: Preserve the poker bankroll and build up an extra $3000 to pay for a trip to Vegas to play in the $2000 buy-in event at the WSOP. Goal is achieved, with original bankroll fully intact. The plane tickets are ordered and hotel is booked. June 10th, WSOP Event #9 at the Rio, baby! And, as a splurge, wife and I get a weekend at the Bellagio, paid with poker. I'm going a day early, and I'm now working on building up some extra bankroll for a nice long poker session at the Bellagio on the day before event #9.

It all started with setting this as a poker goal last summer, as an outlet for this competitiveness that I've felt at the poker tables. And, it leads to smart play within the limits of your bankroll -- I've learned not to play at too high of a limit where, if I dumped everything in that session, it had any lasting effect on the bankroll. Part of my goal is bankroll preservation, since I know there is a reward for smart play that preserves the bankroll.

Next goal is to step it up later this summer and see if I can win enough for the Big Event in 2007.

Give it a try.