Poker and Competitiveness

[sethypooh21]

I think many of us have multiple reasons for playing poker. Dr. Al's book even encourages us to assign percentage values to them. (I did not actual do this when I read the book, as it seemed to me that it would be like declaring that there is a 34% chance of rain today. But I did recognize the importance of understanding the relative mix of motivations. End segue.)

I can easily divide mine into 3 categories: first, and primarily is the financial aspect of it. My poker income helps (to the point I worry I might start taking it for granted. How long can the games stay good?)

The other two are related. First there is the logic puzzle aspect of the game. I derive both enjoyment and affirmation from workng out this puzzle. I often get as much satisfaction from determining exactly what another player is holding in a hand in which I am not involved as I do when I win a nice pot.

The last aspect is the most troublesome as it seems to represent something of a razor's edge for me. I'm a competitive person. I've played sports "competitively" through college and continue to enjoy them on a more "recreational" basis. This mentality has served me well in poker in certain regards: The desire to learn and get better. The ability to be mentally tough enough to be patient enough to get good hands and the ability to shrug it off when those good hands lose.

The downside is that I probably have always hated losing more then I love winning. As with the logical aspect of poker, I definately derive affirmation from 'winning' at any endeavor. When I was new to poker, this need to win often lead to the dreaded berating. Thankfully, I've largely (though sadly not completely. One suggestion I have heard is to play with a stack of dollar bills by the laptop, and everytime I type something nasty, to just rip one in half.) elminated this from my game. However, the negativity I have on bad runs affects me way more then it really should. I pride myself on being even-keeled, but after losing days or weeks, I find that this is not really the case. I might not have the imagination to adopt what Feeney called the professional mentality. If I won $x today but broke even yesterday, I don't feel like I've earned x/2 dollars per day.

Thoughts or suggestions, anyone?

[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.