Post World Series & Some Words About Trading/Poker

Four Horseshoe Hammond poker sessions since my return to Chicago and my 1 winner out of 4 was for less than you can pay in tolls to get there. I got beat up in HORSE, PLO and Hold 'em on separate occasions. Live poker is slower and more boring and losing certainly doesn't change as quickly as it can online into winning over the short and long term. Truly, I miss playing tournaments and having the shot to throw up the belt every day whether it's something small online for a few thousand or a Sunday major or a WSOP 6 max tournament. Competition fills my blood, so I've been channeling that energy into trading lately, which is more rigged than any human should care to think about, but I have managed turbulent times in markets fairly well lately and can't complain.

Similarities in the lessons around the games of trading/investing are much more than just risking money. Bet sizing, bankroll management, mental flexibility, discipline and patience are all required to be successful in the brutal games being played in your respective financial markets. Knowing when to hold 'em and when to fold 'em as Kenny Rogers would sing applies to trading as much as it does to a single hand. Decisions are constantly changing by many inputs and outputs. Buy here and sell here. What price do you want to get? How can you maximize value in any one situation by using both volatility and price? It's tough to explain, but I feel more and more comfortable finding situations and understanding what's going on. The true test though will always be protecting money and growing it in the lowest risk way for the maximum return. It doesn't mean you can't push a lot of your chips in the middle with a strong hand, but it does mean that you are prudent in times of market correction and when your trades just simply aren't working.

I may be adding more business and investing/trading things into this blog mainly because it's been keeping my mind sharp during the lull in poker. There is a ton to learn on the subject and if I could say the most important things I've learned so far about it they would be:

1. No one cares about your money more than you. No advisor, tweeter, blogger, person on CNBC, or even your parents can you tell you what you want to get out of investing/trading and what your actions are going to be when you lose money or win money. Winning money in poker or trading can easily go to your head. The money needs to be bound by a purpose, goal, and risk management.

2. Pigs get slaughtered. It only takes a few bloodbaths to learn this. Gains aren't gains until they are booked. Getting too greedy is one of the worst things you can do.

3. Much like in poker. When you bet, ALWAYS HAVE A PLAN. You must have a method because actions of the game will change and not always go according to your plan.

4. Nothing comes easy. Everything takes work. Poker/Investing/Trading/ LIFE!!!

5. Don't listen to anything I say. Mistakes are how I've learned my most important lessons in both poker and trading, but I'm not advising you. In fact, not once unless you are my close friend have you even talked or heard my theory behind investing/trading.

There are tons of resources on the internet and the two things I use most are Stocktwits and Finviz.com. Stocktwits is a great idea generation site as their founder always says, but don't get caught up in the panic or try to trade based on some random tweeter's ideas. Finviz has tons of good research tools/charts/etc.

On Saturday, The Horseshoe Hammond is holding a $1500 tournament and it will be a nice going away present when I win it. The next few months will be hectic as I'll be traveling for poker/moving/getting back online (fingers crossed). London is my next destination for EPT London, and I will be in Europe (hint,hint) a lot in the next few years. I'm excited to get back to Europe. I am 1/1 at making final tables in that continent.

The Hangover

It's what you can call the week after your most exciting moment in your career. I remember it after June 2010 and the infamous KK vs AK hand. (forgot the hand write-up is wrong on pre-flop action). While that wasn't yet the final table it was the closest to the biggest goal I have, a WSOP bracelet. The EPT championship would have easily been just a hair under a WSOP bracelet, but the hangover has been worse. The hangover refers to the fact that every morning I wake up thinking about hands from that final table. I even think about the first hand and things I couldn't control, the fact that my QT suited was calling the 3 bet of a player with KK if QJ doesn't 4 bet shove. The flop of QT5 would have likely seen me stack a player and take a dominating stack through. Poker doesn't always happen the way you want it to.

Nor should it.

I'm still teetering back and forth about calling off my chips with 0% chance of winning. Generally, you don't want to do that too often in a poker career. While I navigated my stack properly to the four handed game, I think I would have had an advantage keeping things in front of me and small. I hadn't tested one of the other four at the final table's post-flop game at all to that point in the tournament and with two player behind me, John Eames and Michael Tureniac that were clearly strong in that regard of the game, why not wait to get into more situations with Per Linde. Those are the strategic hangover thoughts. The truth is that I got up from the table and was so pissed off because I felt the championship was in my blood and my soul that tournament. It was an honest thought and one that still resides. I needed just a little more from myself. It could have been that one decision, maybe it wasn't, but in poker you can't know after you have no chips left.



The hangover extended to online play this week. I didn't bring my A game all the time. I wasn't as hungry as I needed to be. The standard winner's curse I've written about before followed me. I shouldn't have let it. Each day is a new day, a clean slate. Your record before that doesn't matter. All that matters is if you bring it or not. A week off may have been a good idea, but the hangover of such an exciting atmosphere made me want to create it again, even if it was for something smaller.

Oh well, I don't anticipate playing any tournaments Fri-Sat unless they are super duper turbos. I'll be celebrating St. Patty's Day in Chicago and hopefully not freezing my arse off looking at a green river. Happy St. Patty's Day and celebrate with your safety and others in mind.

January Update, February Plans

January flew by in large part due to a 9 day trip to the Bahamas, the cleansing of my mind through a tougher yoga practice, and lots of poker in between. January really felt balanced. Let me first say that I really enjoy getting to meet my adversaries and friends at the poker table at the live tournaments. So often, we spend time looking at each other's screen names and competing online that we forget we are actually other living people. At least in competitive sports you could look another player in the eye all of the time. Playing online doesn't afford you that opportunity. I met some great people and had a blast despite playing two other events in the Bahamas and not cashing and an exact bubble (43rd place with 42 paying) in the 1k six max. I did, however, have an outstanding month online both in cash and tournaments. I was able to throw up the belt Aaron Rodgers style in my home by winning the 6 max $75 tournament on double guarantee multi-entry week and narrowly missed my first life ever title in a hyper turbo event during double guarantee week. In that tournament, I refused a chop for the 5th straight time and for the 5th straight time turned in a 2nd or 3rd place performance after refusing a chop. I don't think it's stubbornness, but when I get that deep in the tournament, I want to win it outright. Why play if you don't want to win the maximum? This works both ways in poker, but if the situation really calls for a deal, I'll make it. It usually doesn't.

I've had a lot of time to think about my goals for this upcoming year. My halfhearted approach towards the goals in the earlier blog is unlike me, but many of the goals that I haven't accomplished are the same from the year before. I will add a few things as I go along and think of them.

February is started with a great trip to see the family with two wonderful nieces having birthdays as well as my Grandma. Then the FTOPS begins on Full Tilt for what will prove to be two grueling weeks that should get me into a great poker mindset for the EPT Copenhagen at the end of February. Normally, I'd make my way out to LA for the LA Poker Classic, but the Commerce selfishly (against the poker community and spirit of the game) tried to get online poker legalized as a statewide initiative through California earlier this year. I think a one year break from there is fine enough for me on the boycott level. This initiative of casinos, states, and countries looking to restrict the access of local players to the same sites is anti-free trade and completely against the spirit of the game. If anything, the World Series of Poker has taught me that poker is an international game enjoyed by men and women from all over the world. It's equality in its purest form. States like New Jersey, countries like France, and poker rooms like the Commerce have all done or are in the process of restricting access to poker pools of money to their own states to make a profit. Now, I have no problem if the Commerce wants to compete in its own niche market, but everyone in the world needs to realize that the bigger the pie of players, the better for everyone, players, tax collectors, media, live casinos, etc.