Mind Over Poker

One of my all-time favorite quotes is Winston Churchill's remark, "If you're going through hell, keep walking." With all the turmoil now in our markets and financial system, and the country either headed toward or already mired in a recession, there are plenty of people going through tough times. Even if this recession ends up deeper than those of the recent past, it too shall pass. That's the nature of economic cycles. When you're in the middle of a downturn, though, it's often hard to remember the upside or see the light at the end of the tunnel. Seasoned investors, however, remain calm and look for investments.

If you play enough poker, you're guaranteed to experience similar cycles. There will be times when you can do no wrong, and even if you do wrong, you still win. Of course, there also will be those times when you just run bad. You'll be dealt more than your fair share of coolers, you won't get paid off on winning hands, and nothing will seem to work. It's easy to play those up cycles, although the better players will do more to maximize their profits during those periods.

It's the down cycles, however, that often determine the difference between a winning and a losing player. Losing players will internalize the bad streak. They'll get desperate or fearful, and exasperate the problem. Winning players stay the course. They don't go on tilt and they don't try to win all of their money back. They recognize that there will be rough patches along the way, and that they have to minimize their losses during those times by keeping their head.

How do you do that?

Quite simply, the idea is to first recognize that you're going through a rough patch. Don't bury your head in the sand. Next, identify the cause of your recent bad run. Is it due to external or internal factors? Are you making correct decisions and losing (that will happen) or are you making needless mistakes? Are you up against better competition than normal? Be brutally honest. If you are making mistakes, you need to correct them. If you are playing well and losing, you don't need to make any radical changes. If you are playing against tough competition, you need to evaluate your game selection.

You want to make sure that you are doing everything in your power to succeed. Make sure that you are playing in the right games at the right stakes. Play when you are well-rested and be aware of the table image that you may be projecting during this bad run. Study every action at the table and look for opportunities based on other players' weaknesses. Don't force the action, but play your opportunistic game. Above all else, remain confident.

In short, you should be doing everything you should be doing anyway - which is the point. The worst thing you can do is to let fear take over. This will only lead to a downward spiral that will keep you paralyzed in hell. Hell's not a fun place to visit, so when you unexpectedly find yourself there, keep walking.

David Apostolico is the author of numerous books on poker, including Tournament Poker and The Art of War and Poker Strategies for a Winning Edge in Business. You can contact him at [email protected].