Quitting While You're Ahead. Valid Strategy or Pointless Hindsight?

[chipstacks]

You're up +100BB on the day, you've played great and feel like a genius. Suddenly you catch one or two bad beats, next you're telling yourself let me get back to +75BB and then I'll quit. You end up deciding to quit when you're up only +15BB.

I'm only a novice but this is already happening to me ALOT.

Is it truly possible to quit while ahead? How can you really know when is the right time? Any veterans have some opinions or philosophies with respect to this? Do you treat every hand completely isolated from the previous and ignore the daily rollercoaster? Or are you savvy enough to know when your supply of good cards and fortune is running thin?

[grimel]

Do you want the party line or what will help you?

Party line: It's all one big long session, how can you quite while you are ahead? You are looking short term.

What will help: If you get up that much and loosen up to take advantge of your hot streak so you start getting "bad beats", get up from the table (yes, it's a nice fishy game hold on a minute) and buy in at another table with your original buy in. Why? It may be a fishy table, but you've let your success effect your play in a negative manner. While it is -EV to leave a fishy table, it is MORE -EV to sit and spew chips by becoming loose trying to ride a wave of success. Find another fishy table (even if it is slightly less fishy) and start over.

AFTER you learn to control yourself and not go nuts when you get up, quitting while ahead is bad, why would you want to leave a table full of fish?

[Kevin K.]

You need to be able to evaluate the table or tables you are at and determine whether or not is a +EV situation. The decision shouldn't be based on how much you or up or down in a given session, but whether or not it should be profitable if you stay.

Of course you need to evaluate your current state as well...tilt, tired, etc.

[pzhon]

See this article from last month's Two Plus Two Internet Magazine: "Smack Some Sense Into You About Money Management."

If you are a winning player, and your goal is money, you should not end a session early to make sure you quit a winner. If calling yourself a winner for the day is more important than actually winning, then quitting early may be a good idea.

[Maulik]

when you are tired is key. even if you can beat the players tired. a rested player is better

[bernie]

[ QUOTE ]
Of course you need to evaluate your current state as well...tilt, tired, etc

[/ QUOTE ]

This is very key. You also have to be brutally honest with yourself in doing this. The great majority aren't. They'll just see the juicy game, how bad the players are, then let their ego dictate to them that they should play when they clearly aren't geared for it at that point.

I think self evaluation in this context can be a very tough hurdle to overcome.

b

[chipstacks]

Good info here. But one thing, I know about having +/-EV wrt to hole cards and pot odds. But how do you determine if a table is +/-EV? Does the +/-EV of a table change over time while you are still playing at that table?

[Kevin K.]

[ QUOTE ]
Good info here. But one thing, I know about having +/-EV wrt to hole cards and pot odds. But how do you determine if a table is +/-EV? Does the +/-EV of a table change over time while you are still playing at that table?

[/ QUOTE ]

It's a judgement call. On average, will you win at this table? If so, it's a +EV situation.

[grimel]

table EV == look at several factors - hands/hr, % that see the flop, and ave pot size are the 3 I look at. Over time this can change dramatically. As people bust out/stop playing and new players sit down the table flavor changes.

It is possible for one super fish OR super rock to sit and change the table completely in a few rounds.

[ToolMan]

Never quit a good game unless you are not playing optimally. If you are tired, quit. Do not allow yourself to think you are invincible and play bad.

You can tell if the game is still good by looking at the number of people to the flop, how many people cold call raises, etc. Yhe best talbes are where people seem relaxed and are having fun. If you are better in your judgement than 3 other people at the table, it's a good game.