The Micro Mindset
I'd like to take a break from math, and numbers, to talk about some common flaws i see in new micro players. There are a number of glaring problems with the thought process of new poker players, I'd like to address a few I see often, and invite discussion about others, as well as those I cover. As usual this post is a spark for discussion. Please feel free to elaborate, and add any other common flaws you may see in your peers.
I. I need to play 18/16, or 16/14, or x/y to win at this level
A lot of weight is placed on VPIP/PFR numbers, and while I think there is an acceptable and unacceptable range of values (i.e. you can win playing 12/10, but playing 95/2 is going to be difficult to win), too often people confine themselves to these numbers. I was this way when I started, i really wanted to be a LAG, and played 20/18, not because it was necessarily profitable, but because i heard it was the best way to make money. Instead of playing x/y for the sake of playing x/y, your time is better spent understanding the situations you will create by playing x/y and learning from them. If you raise 22 UTG because you can't find another way to get to 20/18, not because you feel it's profitable...then you have a big problem.
What, to me, is more important than playing a certain x/y PF, is knowing how to adjust to situations from the flop and onward. A 10/8 who watches some videos and decides he wants to be a 20/18 instead is going to have some serious postflop problems at first. He will simply not have the knowledge/experience to make the plays necessary to make a looser style work.
II. All I ever do is bet when i have a good hand, this isn't poker, when do i get to bluff!
The Playmasters Creed: No matter what level you're on, being on the next will always be better! The vast majority of your money will be made from making value bets, big fat value bets at the micro stakes. The biggest, most common problem of micro players is calling too much. Making people fold definitely gets the chicks, but not always the money.
The only measure you should care about is extraction of money from your opponents accounts. The idea that poker is all about bluffing and winning with air is silly, poker is about making good decisions, in whatever fashion is most effective at the time. The micro stakes are a learning environment, do not start making big mistakes like trying to make calling stations fold their 4th pair now, these mistakes will only cost you more money as you move up.
III. If 16 tables is good, 24 is better!
There is something to be said for playing more tables. If you are capable of playing twice as many tables, at 90% of the winrate, then you will be making more money by adding tables. If you are playing NL2...you still won't be making anything. Your goal at micro stakes should be to become as fundamentally sound as possible, much love to Chipstar, he's a good guy, but grinding out hundreds of thousands of hands at nano/micro stakes is not the best use of your time. You should play as many tables as you can while still being allowed time to think through difficult decisions, and not time-out on other tables. A common problem with massive multi-tablers is autopilot, when the player makes decisions without giving thought to them. If you are an expert player, with solid fundamentals and instinct, this doesn't have to be a problem. If you are the average micro stakes player...you are not talented enough to be able to make all of your decisions robotically.
In general, you will learn more by playing fewer tables, and making detailed notes about hands/players and then reviewing afterwards. Remember, the goal of nano and micro stakes is to learn, you will not make fortunes playing NL10 so concern yourself more with becoming a good player, than winning a few extra cheeseburgers by playing 24 tables.
IV. I'm going to quit school/job/kill my family and go pro
A lot of us start playing poker with the dream of one day being a pro, playing on high stakes poker or the WSOP. Goals/dreams are great, they motivate you towards success. What most players don't realize is what a grind playing can be. Not only is poker a very active mental environment compared to most jobs (fast paced, action constantly, limited breaks during sessions, etc...), it can be very stressful to have your rent payment for next month riding on a coinflip or two. The decision to go pro requires a lot of thought, preparation, and definitely a level of skill that the novice player simply doesn't have.
For myself, the decision evolved over the course of a year. June 2009 i made more playing poker than at my entry level finance job, it felt great, i wanted to quit and go pro so badly, think of the fortunes I'd make playing full-time! I recently ended (knock on wood) a 250k hand BE stretch, something I couldn't even conceive during my June heater. I still sometimes think i made a premature decision to play professionally, but I have contingencies in place for if poker doesn't work out. Don't put all of your eggs in one basket, especially one as volatile as playing poker. It's definitely nice to be able to work your own hours, not have a boss, and have time off...but it's also stressful to have breakeven stretches, or to fail to hit your monthly goals. If you're considering going pro, feel free to ask anyone in the micro forum, take your time with the decision, and think rationally.
V. WTF was he thinking, he should have done X...bastard
To beat the fish, you must think like the fish. Do not expect other players to play a hand in the same fashion as you would play it, this is a big leak. Just because you would raise a super wet board with a set, doesn't mean fish will, some fish are sneaky fish. When you're playing against a lobotomized primate, you must get on their level. Example: SS87 is on level 0, Joopjan is on level 3, Joopjan should try and make simple decisions to exploit my fundamental weaknesses, he should not try and use the same moves he would on a level 3 opponent...because i won't fall for them, i'm just gonna call him down because he's got AK, I just know it!
You must not give idiots too much credit, this probably isn't the time he's c/r bluffing the river, nor is next time for that matter.
Discuss amongst yourselves...