re: Poker & Ring game experts - when do you quit???
Originally Posted by IveGot0uts
Stop losses, and stop wins are generally horribly flawed thinking. They take you away from tables you are beating, and give you an excuse to give away money at tables you're not.
I used to think like this, but I've changed my mind as far as stop losses go. I agree that stop wins are a bit silly. But stop losses do serve a purpose and it's this:
You get to go to sleep that night without that sinking feeling of wishing you had quit much, much sooner.
I've had up- and downswings as good or bad as the next guy, but my joy over my biggest winning days is never as great as my misery over my biggest losing days. If I quit some really good games after being down 6 buy-ins, so what? My expected value
, even when I'm sitting at 6 great tables, is still only about a buy-in/hour. So if I play for another hour, I'll expect to recover 1 buy-in, but is feeling bad - which, if I'm down more than my stop-loss, I will be - for another hour worth a buy-in? Can't I instead go to bed now, while I'm still at a manageable level of frustration and play an hour and a half at slightly worse tables tomorrow to make up for it?
Even if I play another hour, and even if I win back one buy-in, I'm still down 5 buy-ins for the night. I'm still going to feel bad about it when I quit, only now I've spent another hour playing stuck. And, heaven forbid, if one of the really bad fish take ANOTHER stack from me, I'm going to feel horrible about not quitting when I had the chance, an hour ago.
There's nothing wrong with stop losses. There are good games available almost 24/7 online, and continuing to play now, when you're stuck and frustrated, is no way to go through your poker career, even if you have a huge edge. Play when you're feeling your best and are having fun.
Personally, I try to play poker in 500 hand chunks. A chunk takes me about 30-45 minutes, depending on how many good tables I find, and after a chunk I go have some water, go to the bathroom, read a chapter in a book or take a walk. Then I might play another chunk or I might not, depending on how I feel. But keeping the chunks under an hour makes me feel good and rested almost all the time.
If I start playing a chunk and, after 100 hands into it, feel tired and unfocused, then there's nothing wrong with just quitting right then. I just try not to play MORE than 500 hands. I like quitting.
I like what Tommy Angelo has to say about quitting, too. It's perhaps the most underrated poker skill there is, and I like practising it often.