Stop losses are a self-help tool of sorts. If you are able to effectively implement a stop loss on a routine basis, there is a legitimate chance that it will derive some benefit. On the other hand, a stop loss becomes completely useless if it is not strictly adhered to. This is why some players do not have stop losses and why other players swear by them. There is no right or wrong answer, per se, to whether or not a stop loss should be a part of any winning player’s arsenal. There are, however, some guidelines for who stop losses will serve a practical use.
Types of Stop Losses
In case anyone is unaware, a stop loss is a pre determined number at which a player will stop playing should they lose that amount of money/buy ins. For example a stop loss for a .50/1 NLHE cash game player might be $500 for any given session. In sit n go and tournaments, a stop loss would almost always be set according to number of buy ins. If a player is sitting at games with varying buy ins at a time, it would make sense for them to adjust their stop loss accordingly. In summary, both dollar numbers and buy in figures can be used when setting up a stop loss.
The value of position in No Limit Holdem is, more often than not, extremely understated. Hand strength and the general ability to play any hand increases dramatically when you are able to play a pot in position. Position is what allows players to profitably call three bets pre-flop with random suited connectors.
Position is also what enables players to make light re-steals. When you are able to make all of your decisions after your opponents have already made theirs, there is little mystery left in any given hand. If your opponent leads out into you, there is a chance to fold your hand and lose the least. Position will also make bluffs easier on a variety of levels. Whether you want to make a bluff raise or float your opponent in an attempt to bluff later on, solid position makes it possible.
How to Utilize Position
There are a lot of poker players who talk about how they have position on someone, but these player often have no clue how to make this position advantageous. For example, if you are in late position and a light raiser opens for a raise, your position makes it much easier to three bet bluff. Not only will your opponent fear having to play the pot out of position after the flop, but you will also be able to get away from the hand relatively cheaply if they happen to put in another raise.
Implied odds are incredibly important in Texas Hold ‘em. Since the most common form of Hold ‘em is No Limit, there is typically a lot of action in any given game. In Limit poker players make small bets and face small raises, but No Limit poker is quite the opposite. There has always been a lot of talk amongst poker players in regards to any types of odds. For example, things like “getting the right odds” and “being pot committed” are all phrases that were born from analyzing the odds in poker.
Most of the time, however, implied odds are more important than your actual odds. The odds in a hand of poker are usually the most valuable when critiquing or watching a hand after the fact. When you are in the middle of a hand, the odds themselves are largely irrelevant. Yes, you do need to be considering general odds at all times, but this will only get you so far.
One of the most fundamental concepts in poker is learning how to fold when you are beat. The opposite end of this spectrum tells players that they should be earning the maximum when they have a strong hand. Of course, both of these things are much easier said than done. Folding a strong hand is often an excruciating process for players, especially when they are holding a top pocket pair. It is even tougher to fold when this big pocket pair stands to win a sizable pot if it manages to hold up. Sometimes, though, it is blatantly obvious that a hand is no good. It might hurt to toss away a big pocket pair, but you will often find that it feels even better to realize that you made the correct decision.
Poker players tend to get attached to their big pocket pairs. A lot of people like to count their money before the hand is even played. This is one of the biggest mistakes that a poker player can possibly make. You need to realize that a hand is never over until the pot is shipped to the winning player. If you lose, don’t be surprised as it will happen a large portion of the time. This point can’t be stressed enough. Big pocket pairs are definitely strong, but they are far from infallible.
Any great poker player will analyze their play after they have left the tables. The problem is that players will often forget what they have learned the next time they sit down in a game. It is infinitely easier to critically think about a hand when you are not involved in it. Have you ever watched a poker game on TV or on the internet and wondered how so many players can make such frequent mistakes? It probably isn’t because they don’t know what they’re doing, but is instead because they were not thinking carefully. For some people, improving awareness at the tables is an all but impossible task.
How to Learn from Mistakes
Learning from your past mistakes is something that is much easier said than done. The first step is to take your time and really contemplate each and every decision that you are making. When playing poker on the internet, though, this can be very difficult to do. There is only a limited amount of time allotted to each player for decisions, so you can’t sit there and thoroughly think out each and every move that you make.
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