PKR

Sunday 22 January 2012

Results Orientation

Something poker players learn pretty early in their education of the game is to focus on making correct decisions as much as possible rather than on short-term results.  To use the simplest of examples, if we get all in pre flop with AA (which, barring exceptional circumstances, is always a profitable thing to do) against another hand and lose, then we should not conclude that our play was unprofitable.  Instead our play was definitely profitable (perhaps not optimal, but let's not get too complicated here) and factors out of our control have caused us to lose the hand.

Almost every poker player can understand not being results orientated at this level, because it is easy to understand. I say "almost" every player because you will still find players, particularly in the live arena, that fold AA pre flop and their reasoning for doing so will be because "they saw them get cracked twice yesterday" or something similar.  This of course gives us internet geeks a good laugh at their expense.  It is obviously worthy of piss-taking as folding AA pre flop for such reasons makes you a moron.

However, more poker players have a lot of difficulty not being results orientated on the medium-term level.  The medium-term level could be defined as ranging from a session to say, 50k hands.  It will be very rare that someone will win over a session or medium sample of hands and conclude they played terribly, and equally they will often not lose over that sample and think they played their A-game.  Obviously good and bad results positively correlate with good and bad play but clearly not so strongly that good play = win and vice versa.  Even the best players are very susceptible to this.  I've never heard a player win a tournament and admit they played badly and got lucky, even though this will happen frequently.  When Phil Ivey final tabled the WSOP Main Event I remember him saying something along the lines of "I wasn't all in for my tournament life for six days".  By saying this he wishes to infer that he had reached that far in the tournament by playing very well and never risking his tournament life.  Whereas in fact we know that to play a tournament for six days and never be all in with a risk of busting requires you to be EXTREMELY lucky, no matter how good you are.

The main reason we have trouble ignoring results is that we are human beings and thus programmed to see actions leading directly to results.  As poker players we are constantly battling these natural tendencies and trying to just do what we know as being 'right'.  Of course the problem is that what is 'right' is often not entirely understood all the time and why winning players will make different decisions in the same situation.  Another problem for the poker player is that we are playing a game where we need results.  We need the results (money) to buy the things we need to live like food, clothes and Tony Montana quantities of coke.  There comes a time where we need to look at results and analyse how much our decisions are reflecting this.  Typically, poker players do this too early.

Not being results orientated is actually useful outlook to take into 'real life'.  It's amazing how many people think a decision is bad if the outcome is negative and vice versa.  Football is a great example of this.  Manager brings on a substitute and within two minutes the ball deflects off his arse from a corner and ends up in the goal.  The commentators and pundits will then agree that the substitution was a great decision then praise the manager until the next game when a similar decision leads to a less desirable result and then proceed to slag him off.

Yesterday, I was talking to a non-poker friend about WPT Dublin and how a player who I didn't think was very good ended up coming 4th for 50k odd euros and I also mentioned how he had had some very positive results on PKR winning the masters twice in a row then finishing 3rd on the 3rd occasion.  I reinforced the point that I did not think this player was very good at all and also that I should be a decent judge of a poker players ability as I have played for eight years.  Despite this, my friend simply would not accept that this person wasn't a good player.  "Well he must be good surely, if he won all those tournaments" he would say.  I considered explaining variance in poker tournaments but gave up at this point  I'm pretty sure even if he eventually ended up agreeing with me that deep down he would just believe I didn't know what I was talking about. 

Anyway, this is just a mish mash of some stuff that had been going though my head and hope it is coherent enough to read.  I was probably spurred to write something about results due to my frustrating performance so far in 2012. Graph:


Of all the ways of running bad I'd say running below allin expectation is the best.  This is because you can actually see it and know you can't be doing too much wrong and therefore your confidence isn't dented too much.  Also, it's a great way to moan!

And a quick summary of other stuff:

  • WPT Dublin was a lot of fun but a losing trip for me unfortunately.  I went deep but lost quite a big flip as we were approaching the bubble and couldn't recover as I lost the next three allins.  
  • Been watching The Killing on dvd.  Great series which I highly recommend.  Think Wire fans will like it.
  • Spurs doing great and despite just losing to Man City (very unlucky) could still do a title tilt.  Also managed to get tickets for Arsenal v Spurs game thanks to PKR which is always a great game.
  • Going to APT event in London next weekend.  Next blog update will be story of how I won.

Monday 2 January 2012

2011 etc

2011 was a good year for me in poker.  I'm pretty sure I ran above average in cash games online, mostly due to running very well at the higher stakes I played which over-compensated for the run bad at lower stakes.  I also did well at online MTTs with lots of medium scores, including five-figure results of 16k (Stars DNG), 10k (PKR 500) and 10k (Party High Roller) as well as some smaller cashes around the 5k mark.  That big score (which I would class as being >$25k) still alludes me, but I can't complain given the volume of MTTs played.  Live MTTs started rubbish as I went 0/10 until I came 3rd in the Fox Club main event for £7200 and have min cashed two tournaments since then making the year a bit above breakeven.  In live cash I have run terrible but haven't played much of it and at relatively small stakes compared to my bankroll so that's all good.

I also hit a sort-of milestone recently of recording one million hands on my current HEM database which is by far the most hands I have ever had stored at any one time.  Here is the graph:

  
This has occurred over a period of three and a bit years.  I'm very happy with the consistency and winrate per hand but it also makes me think I should be increasing my volume.  Given all the changes to the poker industry in 2011, there's no time to take for granted the ability to make money at this game.  Looking at this graph makes me think another thing too....where has all my money gone!?

I don't really have any specific poker goals for 2012. Mostly it's just to just keep enjoying playing and surviving.  Winning a big tournament would be nice too!