For live poker:
1) Set a stop loss of 2 buyins per session. It only takes a little bit of tilt/desperation to turn you from a winning player into a breakeven/losing player.
2) Don't feel the need to straddle, just because everyone else is straddling.
3) Don't feel the need to give action and keep everyone entertained. Your win rate comes first.
4) It's okay to wear earphones at the table. Don't feel bad.
5) It's okay to hit and run. Don't feel obliged to stay when you don't want to. In fact, if you're even considering calling it a night, you should immediately stack up and leave. Forget the 0.5bb loss in EV from sitting out in MP.

For online poker:
1) Play less tables. 2 zoom is enough.
2) Stop and think about every decision. Don't autopilot.
3) Experiment with some different lines and bet sizes.
4) Don't feel the need to play back at the regs. Just nit up and move on. They're going to station you anyway, given their history with you.

And most importantly:
1) Never lend more than $300 to someone for any reason. I lent 5k away to 3 friends when I had 6k to my name (I'm an idiot, I know). I just assumed that they'd pay me back pretty quickly and there'd be no hassle. But when I ask them to pay me back they're always broke, starving, overdue rent, overdue phone bills, etc. And yet they're spending $300 on a night out drinking, buying $1000 laptops and $1500 phones, going travelling, etc. It's a nightmare. Oh how ignorant I was to think that all of my friends would voluntarily pay me back within a month without me even having to ask LOL.
2) Make sure money is inaccessible when drunk. Budget $400 for a night out and make sure you can't access 4 figures.

Wait what?! How do you spend that much on a night out?

The biggest thing that has limited my earnings in the past and my current lowest hanging fruit is playing more hours.

1) millions of hands of autopiloting
2) tilted and spewed away most of my shots back in the day
3) bumhunting high stakes fr back in the day (sometimes while drunk) and running couple of bankrolls under ev
4) finding excuses not to grind (esp. when i was ahead of the curve in cash for a few years)
5) not studying gto often enough and forgetting what to do in basic spots gto-wise
6) playing in high effective rake environments

In one of his books Jonathan Little has some stories about how friends of his threw away their poker winnings, including:

Taking friends out to the club and buying for everyone.

$200 restaurant meals. (For that price I would expect Gordon Ramsey to personally bring it to my table.)

One player got a million dollar cash and the first thing he did was use it for a down payments on a $10 million house. That did not end well.

On a smaller scale, someone posted on these forums a year or so ago. He described his poker background and asked for some advice. I told him that using his first big cash to buy a gaming system and a big screen TV wasn't a great idea.

Wow, that's absolutely crazy, I guess some people can be really bad with money / bankroll management, especially when times are good. Degens gunna degen

Is point number 1 even that bad? Pretty sure this is what most people do after a while?

This!

Shot taking when I'm crushing the stake I'm at without the BR to play the stake I'm taking a shot at.

"I want it now" instead of "I'll get there when I'm ready to get there".

This happens about once a month or two lmao.

depends on how good ur autopilot is. ur losing ev for sure, but some ppl may lose 20% of their winrate while others lose 100%. there are alot of factors to this, for example if ur 4 tabling hu and concentrating on one table and autopiloting others then ur autopilot will most likely kill most of ur ev, while if u 24 table full ring cash then it only hurts u a little.

I have no way to know this, but I think that people are either good at managing money or they aren't, and poker doesn't have much to do with it. I doubt that someone who is 21, saving money for retirement and driving a ten year old car would have problems managing a poker bankroll.

Yeah it's kind of a shame so many people have difficulty managing money, there really should be a financial course in secondary school to help with stuff like this. Would go a long way

Problem is that a lot of time lessons or advice comes from life experience. I’m in my 40’s. The lessons I’ve learned on debt, self control, hard work, integrity etc, were all learned the hard way.

The reality is that most people in their 20’s think they’ll live forever, the gravy train will never stop and life is black and white.

My nephew is just finishing up his electrical apprenticeship. For the first time in his mid 20’s he’s going to make decent money. He’s wanted for years to be “that guy;” the chick magnet and job site dude all then other guys envy because he drives around in his brand new $65000, F350. He doesn’t own a home, have savings, or concrete plans for wealth building. I’ve brought it up with him 4-5 times in the last 6 months, even going so far as to implore “please please don’t go and buy yourself an expensive pick-up.” He smiles and nods, but dollars to doughnuts he’s going to swing by pretty quick with a huge smile on his face and great pride as he shows me his first big purchase.

We were ALL him once too, so I can’t really judge, it just makes me a little sad , because I know how much further he’d be in life at 35 with some self control and delayed gratification.




Sent from my iPhone using Tapatalk

Calling huge bets on the river in plo because you remember that one time you got checkraise and fold to be shown busted draw...

calling raises with suited aces, very bad reverse implied odds when you call down w/out the flush

What do u consider low stakes ?
I have been in plenty of 1/2 nl live games that play like 2/5

1/2nl live is low stakes, surely? Sounds like a scary game