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Old 02-06-2012, 12:06 AM   #61
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Re: Thoughts on Killing Variance

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Originally Posted by starseeker12001 View Post
it seems to me the wrong questions are being asked - don't you mean reduce variance ? what you really want to play a game where you show your hands pre flop and split out the pot based on probability.....don't be silly

you may as well say that your A-A deserves to win everytime and it doesn't because xx% of the time it deserves to lose, are you expecting a 100% win rate on A-A ??

I'd suggest you need to learn how to deal with variance as opposed to killing it and if variance affects you so much then your variance will increase significantly has you go on tilt

several ways of reducing variance are dependent on your own style and the style of the players you're up against eg opp tight passive, you aren't going to exp. much variance (assuming you have learnt to lay down your hand after a big re-raise from them because they have A-A). If you want to increase your variance (and as other poster mentioned, potentially significantly increase your profit, assuming you can cope with variance) then play a LAG style.

you also may want to think about playing less of a pre flop game, if I'm live deep stacked cash game and pick up A-A, I'm not thinking about manipulating the pot or my opponents to get all the money in pre-flop just to get killed by somone getting a lucky two pair etc, as I'm not prepared to risk 500 or 600 BB's on one pair. If you are on-line with 50BB's and multi-tabling then sure go for it.....

to answer the other question 'how long does variance last for' or how long do you run bad, well that's very dependent on how often you are playing eg on-line every day multi tabling or live once a month

winning poker players make themselves very aware of variance, how they handle it, what swings they should expect versus the style of opponents they are up against and how your own style is adjusting which affects variance

my advice would be to focus on winning the battle of mistakes and analysing how many mistakes you've made in an evening, if you're coming home thinking I only made a couple of mistakes or even none ! then you won't have to worry about variance because you'll be a winning poker player, whether your A-A's get cracked or not.

hope this is useful

s.
I appreciate this line of thinking. Its something I'm working more on myself. For me, I'm looking at ways that chaos theory and variance are intertwined, and ways I can adjust to it. Currently, I'm on a short bankroll, and playing 1/2 NL. In the past, I've played as high as 5/10 NL, and 80/160 Limit, when bankroll was different.

What I notice at 1/2 NL, and what I'm trying to adjust for, if possible, is when several "bad" events happen in a row. Where I play, there is no shortage of fish, and they come in different sizes and shapes. However, while fish are great, I have noticed a phenomena where several of them can get lucky against you in the same session, and a lot of fish bites at once can kill a shark!

My losing sessions usually consist of a combination of factors that worked against me that day:

1. I may be running bad/card dead
2. I may be getting good drawing situations, pot odds, but miss
3. I may be getting it in good vs. a fish, but they suckout
4. I may get coolered, big hand vs. big hand

Where I find I have trouble on a per session basis, is when one or more of these factors start to work together against me. For example, I might start off running bad, playing patiently, but having to chase a couple good draws when the price is right. This leaks about 25% of my stack. Then I pick up a good hand, and get involved with a fish, have him make a mistake, and he sucks out. Now if he doesn't stack me, I then run into a cooler, or get in good with another fish and face another suckout.

Now if I buy in again, I have to decide if this table lineup will pay me back what I lost, or did I lose more than I can recoup here. This is key, I don't want to buy in to a table that won't pay me back, so I always re-evaluate this. Unfortunately, we've all been the victim of being sucked out by a fish, and then watching them distribute our chips rapidly to the other players at the table. Its painful.

Anyway, what I'm trying to work on, is reducing this kind of combined situational variance, so that I can stretch my short bankroll. Yes, its true, if I didn't have to worry about my roll, I could just keep buying in, getting it in good, and let the long run take care of the rest. I realize that's the right answer if my roll was unlimited (or at least fat enough) for the stake I play.

One style/gameplan I'm thinking of is to come in and nit it up for the first however long it takes to add lets say 25% to my stack. Then use that 25% cushion to take on a few more speculative hands like suited connectors and such in later positions. Then if I take a nice pot doing that, open my game wider to get closer to optimal style for the table I'm playing at the time. Yes this means I won't be playing "long term" optimally in the beginning of my session. But it helps me get to the long term by reducing my per session variance while my roll is short, and at least some of my session would be played optimally once I have some fish money added to my stack.

Thoughts, feedback are appreciated on this approach or other suggestions...
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Old 02-06-2012, 02:39 AM   #62
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Re: Thoughts on Killing Variance

Quote:
Originally Posted by TechPoker View Post
I appreciate this line of thinking. Its something I'm working more on myself. For me, I'm looking at ways that chaos theory and variance are intertwined, and ways I can adjust to it. Currently, I'm on a short bankroll, and playing 1/2 NL. In the past, I've played as high as 5/10 NL, and 80/160 Limit, when bankroll was different.
As someone with technical and math degrees that used to work in a technical field and am now playing poker let me say you are really overthinking this at the 1/2nl level...

Quote:
Originally Posted by TechPoker View Post
What I notice at 1/2 NL, and what I'm trying to adjust for, if possible, is when several "bad" events happen in a row. Where I play, there is no shortage of fish, and they come in different sizes and shapes. However, while fish are great, I have noticed a phenomena where several of them can get lucky against you in the same session, and a lot of fish bites at once can kill a shark!

My losing sessions usually consist of a combination of factors that worked against me that day:

1. I may be running bad/card dead
2. I may be getting good drawing situations, pot odds, but miss
3. I may be getting it in good vs. a fish, but they suckout
4. I may get coolered, big hand vs. big hand

Where I find I have trouble on a per session basis, is when one or more of these factors start to work together against me. For example, I might start off running bad, playing patiently, but having to chase a couple good draws when the price is right. This leaks about 25% of my stack. Then I pick up a good hand, and get involved with a fish, have him make a mistake, and he sucks out. Now if he doesn't stack me, I then run into a cooler, or get in good with another fish and face another suckout.
So let me see if I get this straight.
The fish are giving you great odds to draw....
You get a good hand and are in a pot with a fish who makes a mistake...


So what is the problem?

Notice I didn't complete the statements to include results, because results don't matter.

I'm sure you're thinking, "Yes, I know results don't matter but..."

No. No but, not buts, no exceptions, +EV is +EV. Sklansky bucks are Sklansky bucks and as long as you keep getting in +EV situations your bankroll will grow long term.

Quote:
Originally Posted by TechPoker View Post
Now if I buy in again, I have to decide if this table lineup will pay me back what I lost, or did I lose more than I can recoup here. This is key, I don't want to buy in to a table that won't pay me back, so I always re-evaluate this. Unfortunately, we've all been the victim of being sucked out by a fish, and then watching them distribute our chips rapidly to the other players at the table. Its painful.
Sorry, this is flat out fish think straight out of the aquarium.

If you are at a table that is making a host of -EV mistakes (like the mistakes and situations you describe) then that is a great table. Period. No ifs, ands, or buts.

Quote:
Originally Posted by TechPoker View Post
Anyway, what I'm trying to work on, is reducing this kind of combined situational variance, so that I can stretch my short bankroll. Yes, its true, if I didn't have to worry about my roll, I could just keep buying in, getting it in good, and let the long run take care of the rest. I realize that's the right answer if my roll was unlimited (or at least fat enough) for the stake I play.
BRM is an important aspect of poker and there are no short cuts around that. All of us (myself included) have had to learn this the hard way. If you don't have the roll to play properly, you are better off saving up until you do.

Quote:
Originally Posted by TechPoker View Post
One style/gameplan I'm thinking of is to come in and nit it up for the first however long it takes to add lets say 25% to my stack. Then use that 25% cushion to take on a few more speculative hands like suited connectors and such in later positions. Then if I take a nice pot doing that, open my game wider to get closer to optimal style for the table I'm playing at the time.
No no freaking no!!!!!

What the hell is it with players wanting to "loosen up" at a donk fest fish filled aquarium 1/2nl table especially when their bankroll is on life support.

Geez-fing-us.

You whine about not having the proper bankroll and then in the next breath you rationalize situations for playing a higher variance style of poker prone to swings.

Look, the way you beat 1/2nl is to just take advantage of the mistakes the fish make. For the most part, they overvalue TPMK type hands, they give pot odds to draw and then when you hit they pay off offensive overbets, they have no clue about absolute strength hands and will stack off with their straights or trips on a flush or full house board...

There are a million and one ways to beat the game, just sit back and play boring ABC nit poker 90% and TAG poker approximately 10% of the time and you will beat the game for 8 - 10bb/hr.

Quote:
Originally Posted by TechPoker View Post
Yes this means I won't be playing "long term" optimally in the beginning of my session. But it helps me get to the long term by reducing my per session variance while my roll is short, and at least some of my session would be played optimally once I have some fish money added to my stack.

Thoughts, feedback are appreciated on this approach or other suggestions...
Your best bet is to just be a boring ABC nit majority of the time.

I know, its not sexy but it works. Especially if your roll is on life support.

GL
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Old 02-06-2012, 03:29 AM   #63
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Re: Thoughts on Killing Variance

Grunch

Basically you're asking for premium-free insurance. That's not impossible to arrange and I think has been mentioned on this board. The general idea there would be getting a group of players together who all agreed to pay into or collect from the pool based on who ran good/bad.

It's probably a bad idea as a general game rule though. I don't think Vegas will start paying out and collecting in their dice games based on the expectation after the come out roll (or worse yet, before it) and they're smart not to. There are very similar reasons why your idea isn't likely to take off in poker (and why it even being somewhat feasable shouldn't make you happy if you like making money playing cards).

Now if the World Series of Chess ever generates as much action as the WSOP that might be the time to re-visit this idea.
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Old 02-06-2012, 03:37 AM   #64
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Re: Thoughts on Killing Variance

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Originally Posted by Jaqk View Post
I hear this all the time but it's pure speculation with no empiric evidence whatsoever.

I'm convinced that people play poker because they like it. It's got nothing to do with bad beats.

Chess just isn't as entertaining as poker IMO. Even though, as you may know, a few people around the world play chess as well.

(BTW, don't make the mistake that the suggested game would kill variance. It only kills bad beats.)
I don't think people play specifically for bad beats but I'm almost sure far fewer people would play if their level of play was spelled out for them as clearly as it is in chess (and unfortunately the trend is moving that direction). Fewer still would play for the same money.
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Old 02-06-2012, 05:13 AM   #65
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Re: Thoughts on Killing Variance

There was a time (up until the 90s) when chess was more popular than poker. The only reason poker is bigger now is because they put it on TV in 1999 and it took off. It also fits well with the internet and online gaming.

But in terms of "enjoyment" they both are great games. And give chess the respect it deserves, its been around for centuries and almost every household has a chess board...
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Old 02-06-2012, 06:28 AM   #66
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Re: Thoughts on Killing Variance

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Originally Posted by dgiharris View Post
There was a time (up until the 90s) when chess was more popular than poker.
As a gambling game? I think it got passed up long before the 90's if you mean 1990's.

If you mean just as a game you might be able to argue poker still hasn't passed chess in popularity if we take away games/interest that are driven by gambling.

My comments were meant only to compare the two as currently effective/popular gambling games (and I do think both the lack of variance and the very clear ways in which unskilled play is identified hurt chess very much in regards to being a popular game to bet on...the second issue is also becoming more and more apparent in poker while OP suggests adding in the first as well).
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Old 02-06-2012, 06:35 AM   #67
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Re: Thoughts on Killing Variance

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Originally Posted by dgiharris View Post
There was a time (up until the 90s) when chess was more popular than poker. The only reason poker is bigger now is because they put it on TV in 1999 and it took off. It also fits well with the internet and online gaming.

But in terms of "enjoyment" they both are great games. And give chess the respect it deserves, its been around for centuries and almost every household has a chess board...
well played.
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