re: Poker & My $20 > $1k run.
Originally Posted by aliengenius
lolz at "turned" x into y... no long term winning player thinks like this.
In The Poker Mindset (http://www.internettexasholdem.com/catalog/product_info.php/products_id/108?osCsid=20e8657c13f18f953d0b8a452e7f428b) the authors point out that having a monetary goal is actually detrimental to your game, as you have little control over the success or failure of such a goal due to the nature of the game of poker (highly subject to variance).
Instead, make it your goal to make the best (highest +ev) decisions possible at all times.
This is a goal that you can have direct control over the success/failure of. Let the money take care of itself.
Personally I disagree with that way of thinking. Setting a monetary goal is a way of forcing yourself into playing better longer. When I have a goal to reach I find it much easier to avoid tilt, and -EV actions. It gives me that little voice in my head that says "you can't do that, we have a goal to be met".
It's like a person trying to get healthy/in shape. You know that it's really about changing your lifestyle and using proper techniques to do that, but you give yourself goals for motivation "I want to lose 40lbs", "I want to press 350lbs", a smart person knows that doing any balls-to-the-wall approach will most likely have a negative effect, so they keep their goal in mind as fuel to keep going the proper way and not give up.
I can see how some players can set a monetary goal and go about it the wrong way, leaving a bad impression on having them, but if you know the proper way to achieve your goal then it can be a very powerful tool.
While going forth with this goal I know that this is a game of great variance, and losing is inevitable, so I try not to let the downswings affect me, I'm not chasing my money going "damnit, I had it as high as "X", and now it's down to "Y"... I need to get that money back". I just keep going from my goal.