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Mind Over Poker

Play What Happens

by David Apostolico |  Published: Jul 24, 2009

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Investing, like poker, requires cold, calculated decision-making. You must remain completely objective and emotionally detached. Most of all, you have to stay firmly planted in reality. I was recently sent a quote from the cutting-edge website scopelabs.net that read: “Trade what happens, not what you think should happen or want to happen.” For purposes of this column, we won’t get into its relevance to investing. However, as it pertains to poker, this advice seems quite simple and very straightforward — and yes, very relevant. It’s one of those statements that is a lot simpler to understand than it is to practice. Yet, if we could consistently take this advice to heart, our games would improve. What am I talking about? First, let’s substitute the word “play” for “trade,” with play encompassing all actions — checking, folding, calling, betting, or raising. Now, let’s look at an easy example. We’ve all witnessed ...


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