Leggo Poker Every Tool You Need To Win

Robin_Ripper

Sep
06
2010
Poker Emotions
Posted in Poker | View Comments (8)
 

Poker is a weird game emotionally...
I feel like I have a very good grip on my emotions (both with poker and irl), however I feel like an idiot for how I even with that still let myself get affected by Poker.

Everyone who plays for a living knows that you should not look at short-term results, however most people that I know (including myself) fail to achieve this. I know that short-term results mean almost absolutely nothing, but yet I still let my emotions get affected by them, and not in a good way.

I think everyone agrees that winning $500 in a day would be a good thing. However if you start of great and are up $1500 and then at the end of your session lose $1000 again you feel alot worse then if you start the day off losing $1000 first and then ending up $500 total. Even though the net gain is the same.

It is even so (for me) that first losing alot and then getting back to even feels alot better then winning and proceeding to lose half of the winnings. Even though with the second option I would have a higher net gain. I find this especially stupid since, like I just said, I (should) know that these shortterm results are fairly meaningless.

Today I was trying to think on how happy winning money makes me in comparison how I feel when I'm losing money. It's really hard to determin but I thought it was around this:

3x win == 1x losing. (so winning $300 makes me as happy as losing $100 makes me unhappy)

However I don't really seem to get that happy from winning as much, luckily I'm also not caring as much when losing. I'm really happy with this emotional detachment because I feel it's very important if you play this game proffesionally. However I'm going to try to care even less about the results.

I do check my HM way to often, but it's just to hard to not check :x


Hmmm I guess it is just me spewing random thoughts, I am curious to find out how people think where their line of winning happiness vs losing unhappiness lies. So plz comment on where your line is. (I wonder if ppl have a 1-1 line)



I'll end it with a funny pic I came across:


Robin out

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Comments
09-06-2010
IcarusJam is offline IcarusJam
approx 3:1 to me
09-06-2010
Mr Papagiorgio is offline Mr Papagiorgio
Mr Papagiorgio's Avatar
i will go with 5:3
09-06-2010
Daboss is offline Daboss
I'm lucky. I'm just as unhappy the times I win compared to the times I lose.
09-06-2010
jonstermonster is offline jonstermonster
in my behavioral economics that i took a couple of quarters ago it is apparently 2.6 : 1 ( i think this is on average for people...not sure can't really remember but the number given in class was definitely 2.6:1)
09-06-2010
jonstermonster is offline jonstermonster
i tried looking through powerpoints to find it but this all i could find...and this is also for only "small amounts"

"Rewards are formulated in terms of losses and gains with respect to a reference point.
Loss aversion. v(-x) < - v(x) where x>0
Experimental data suggests that for small x, v(-x) is usually close to - 2 v(x).
diminishing sensitivity for gains and for losses. It implies risk aversion for gains and risk loving for losses."

not sure if this is exactly what you are talking about...but this goes into "prospect theory value function"
where is people become risk averse when outcomes are framed as gains, and risk seeking when outcomes are framed as loses.
09-06-2010
jonstermonster is offline jonstermonster
ok i just realized this isnt what you are talking about at all and i dont see how i can delete my comment..but ya 2.6:1 is what i remember.
09-07-2010
Robin_Ripper is offline Robin_Ripper
Hehe well I'm hoping to get it to 1:1 or to just make all of it dissapear all together
09-07-2010
sh58 is offline sh58
sh58's Avatar
yeah i think its standard human phenomena for losses to make you more unhappy than the wins make you happy.

especially in poker, i think alot of us think winning is 'standard' rather than rejoicing in it. i think it has to do with positive results being based on our incredible skill, wheras when we lose we put it down to either terrible luck or us playing badly, both of which make us feel pretty sorry for ourselves, either in the 'world is against me' kind of way, or the self critical way 'i'm such an idiot'
 
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