Originally posted by TwiceT
Originally posted by pleno1
Another thing I have which I think is pretty huge and specific to me. Its hard to put it into words so I'll just tell the story. I was playing in a "deepstack" monthly tournament. Within the first 3 levels the average was 11,100 and I had 34,000. Half way through the next level I got really unlucky in two spots and I had 14,400. For me the tournament was over and instead of thinking "hey I'm above average" I just couldn't take my mind off thinking how many chips I had and that they should still be mine. I tilted off calling bets with any two cards and eventually bust before the end of the level. Whats the best way to keep myself composed in these spots? I literally think it could add an extra 7-8% on my roi.99% of ppl have that problem. thats also why most dont succeed in areas where u constantly win and lose big parts of your "play" money. esp true for trading and poker.
read "fooled by randomness" by nicholas taleb. great book. my most favourite book btw. he also talks about your problem.
its like making 250k a year playing poker. u will be abover most poker plrs on the planet.
but if u had been up 500k and ran cold last 10k hands on nl10k hu, u feel like u lost. but in fact u won and still are way ahead of your competition.i think awareness is a good starting point. being aware of the important facts and not being blinded by some swings or other plrs who made more or - in that specific case - by the fact that u had more chips before.
simply fooled by outcomes. its not about outcomes (and your chips on the table). its only about making right decisions over and over again. if u made the right decisions and lost the chiplead from 50k to 11k, so what. that was best u could do. u should be happy.
furthermore, u should be even twice as happy as u normally are when playing great. cuz u still have avg chip stack. and since u are at least semi-experienced plr, u know that trnys are won in the late stages. having chiplead early is nice, but just increases your chances of winning some % cuz blinds will go up a lot during the trny.
having a chiplead with 5 ppl left is a different story.dont be fooled by randomness!
I just started reading this book - it's great!
What you're mentioning here is very logical, and accurate. For many players, though, they still make mistakes even though they understand this information. What I've found is that they have errors in their mental approach to the game that are not obvious. That doesn't mean overly complex, just not things that players typically think about. With these errors buried in their mind, it becomes impossible to truly resolve the problem, so they can continue to play great.
If a player doesn't know what you've just said, then understanding variance/randomness is the way to start for sure. For other players who do, they have to figure out specifically what throw's them off mentally - like predicting the future, overconfidence, or fear of failure.