What You Think Is Right Is Wrong With Your Poker Game
Poker Legends & Behavioral Finance
Understanding Mental Bias in Decision Making
The power of the mind over money is rooted in mental bias. Our idiosyncratic distortions shape our reality. Just as a menu is not the meal, our mental map is not the territory.
Flounders vs. Rounders
The difference between playing to win versus playing socially. For the seasoned poker player, nothing is better than an opponent who sits down expecting to lose.
"When you treat No Limit Hold'em as only a game of chance instead of skill, the risk of ruin is 100%."
Pro Players specialize in other people’s biases, especially overconfidence.
The Psychology of Tilt
Tilt leads to suboptimal decision-making, where emotional investment outweighs logic.
Behavioral Finance Concepts
Psychological influences shape financial behavior. The Sunk Cost Fallacy keeps players in losing positions longer than they should be.
Key Cognitive Biases
- Illusion of Control: Believing you can influence random outcomes.
- Loss Aversion: The pain of loss outweighs the pleasure of gain.
- Endowment Effect: Overvaluing what you own, making it harder to fold strong hands.
Poker Strategy Insights
Good players fold great hands when needed. Emotional control and logic are key to success.
I think many good limit players have "Loss aversion" problems.
ReplyDeleteI know I did when I switched and just in the last few thousands hands I have loosened up and "selectively" started to gamble.
Still - I can not win may BIG pots (I seem to be in the wrong end LOL