[baronzeus]

Huh? I'm not saying BT is a degen.

What I'm talking about is the ability to judge catastrophic risk. It's a very tricky skill, and almost no one gets it right the first time. I've never met, or ever even heard of anyone who got it right the first time.

There are two games going on: there is BT's game, his ability to consistently play his best against a variety of opponent skills, styles, personalities, a variety of stakes, and a variety of variance players, like Farha.

Then there is the metagame. There is his ability to judge whether his bankroll swings have become too dangerous for the velocity of money he is putting at risk.

It very important to keep one truth of trading/poker in mind at all times: if you are on a serious downswing, and you put it down to poor play which can not be remedied, and you give up, you are probably finished as a professional at that level (or at least for a number of years).

By giving up, you have so severely damage your ego-thought-process that psychologically you no longer can think clearly when playing at those stakes.

Breaks are an option, as are different opponents, different venues, etc. But there really is only one way to re-establish your ego and confidence without continuing the excessive risk: and that is drastically lower your $ velocity, wait until you start winning consistently, regain your confidence. This takes time, a lot of time, maybe a year or more, and it is boring and humbling compared to playing at the higher levels.

You are probably thinking, "BT is certainly capable of this". My argument is that he is, but because he's never gone broke, he probably doesn't have enough inner awareness of how dangerous the situation has become. Most likely he will do everything possible to improve his game, but keep on playing at the same $ velocity, as his perception will be that his downswing is a function of his play, and not random forces.

What destroys traders/gamesmen is being hit with a streak of randomness at a $ velocity that is excessive for your bankroll, doing everything you can to improve your trading/game, losing more because the random downstreak continues, and damaging your ego/confidence to the point where your game does fall apart.

After playing these huge games, after living in that world, after being acknowledged as the best by so many people, do you really think BT is going to drop down to 10/20 (or somewhere in that neighborhood) for a year if his swings get up towards $10M ? I don't think he will. I think he'll keep on fighting at the same $ velocity and end up busto in the process.

Huh? I'm not saying BT is a degen.

What I'm talking about is the ability to judge catastrophic risk. It's a very tricky skill, and almost no one gets it right the first time. I've never met, or ever even heard of anyone who got it right the first time.

There are two games going on: there is BT's game, his ability to consistently play his best against a variety of opponent skills, styles, personalities, a variety of stakes, and a variety of variance players, like Farha.

Then there is the metagame. There is his ability to judge whether his bankroll swings have become too dangerous for the velocity of money he is putting at risk.

It very important to keep one truth of trading/poker in mind at all times: if you are on a serious downswing, and you put it down to poor play which can not be remedied, and you give up, you are probably finished as a professional at that level (or at least for a number of years).

By giving up, you have so severely damage your ego-thought-process that psychologically you no longer can think clearly when playing at those stakes.

Breaks are an option, as are different opponents, different venues, etc. But there really is only one way to re-establish your ego and confidence without continuing the excessive risk: and that is drastically lower your $ velocity, wait until you start winning consistently, regain your confidence. This takes time, a lot of time, maybe a year or more, and it is boring and humbling compared to playing at the higher levels.

You are probably thinking, "BT is certainly capable of this". My argument is that he is, but because he's never gone broke, he probably doesn't have enough inner awareness of how dangerous the situation has become. Most likely he will do everything possible to improve his game, but keep on playing at the same $ velocity, as his perception will be that his downswing is a function of his play, and not random forces.

What destroys traders/gamesmen is being hit with a streak of randomness at a $ velocity that is excessive for your bankroll, doing everything you can to improve your trading/game, losing more because the random downstreak continues, and damaging your ego/confidence to the point where your game does fall apart.

After playing these huge games, after living in that world, after being acknowledged as the best by so many people, do you really think BT is going to drop down to 10/20 (or somewhere in that neighborhood) for a year if his swings get up towards $10M ? I don't think he will. I think he'll keep on fighting at the same $ velocity and end up busto in the process.

Huh? I'm not saying BT is a degen.

What I'm talking about is the ability to judge catastrophic risk. It's a very tricky skill, and almost no one gets it right the first time. I've never met, or ever even heard of anyone who got it right the first time.

There are two games going on: there is BT's game, his ability to consistently play his best against a variety of opponent skills, styles, personalities, a variety of stakes, and a variety of variance players, like Farha.

Then there is the metagame. There is his ability to judge whether his bankroll swings have become too dangerous for the velocity of money he is putting at risk.

It very important to keep one truth of trading/poker in mind at all times: if you are on a serious downswing, and you put it down to poor play which can not be remedied, and you give up, you are probably finished as a professional at that level (or at least for a number of years).

By giving up, you have so severely damage your ego-thought-process that psychologically you no longer can think clearly when playing at those stakes.

Breaks are an option, as are different opponents, different venues, etc. But there really is only one way to re-establish your ego and confidence without continuing the excessive risk: and that is drastically lower your $ velocity, wait until you start winning consistently, regain your confidence. This takes time, a lot of time, maybe a year or more, and it is boring and humbling compared to playing at the higher levels.

You are probably thinking, "BT is certainly capable of this". My argument is that he is, but because he's never gone broke, he probably doesn't have enough inner awareness of how dangerous the situation has become. Most likely he will do everything possible to improve his game, but keep on playing at the same $ velocity, as his perception will be that his downswing is a function of his play, and not random forces.

What destroys traders/gamesmen is being hit with a streak of randomness at a $ velocity that is excessive for your bankroll, doing everything you can to improve your trading/game, losing more because the random downstreak continues, and damaging your ego/confidence to the point where your game does fall apart.

After playing these huge games, after living in that world, after being acknowledged as the best by so many people, do you really think BT is going to drop down to 10/20 (or somewhere in that neighborhood) for a year if his swings get up towards $10M ? I don't think he will. I think he'll keep on fighting at the same $ velocity and end up busto in the process.

Huh? I'm not saying BT is a degen.

What I'm talking about is the ability to judge catastrophic risk. It's a very tricky skill, and almost no one gets it right the first time. I've never met, or ever even heard of anyone who got it right the first time.

There are two games going on: there is BT's game, his ability to consistently play his best against a variety of opponent skills, styles, personalities, a variety of stakes, and a variety of variance players, like Farha.

Then there is the metagame. There is his ability to judge whether his bankroll swings have become too dangerous for the velocity of money he is putting at risk.

It very important to keep one truth of trading/poker in mind at all times: if you are on a serious downswing, and you put it down to poor play which can not be remedied, and you give up, you are probably finished as a professional at that level (or at least for a number of years).

By giving up, you have so severely damage your ego-thought-process that psychologically you no longer can think clearly when playing at those stakes.

Breaks are an option, as are different opponents, different venues, etc. But there really is only one way to re-establish your ego and confidence without continuing the excessive risk: and that is drastically lower your $ velocity, wait until you start winning consistently, regain your confidence. This takes time, a lot of time, maybe a year or more, and it is boring and humbling compared to playing at the higher levels.

You are probably thinking, "BT is certainly capable of this". My argument is that he is, but because he's never gone broke, he probably doesn't have enough inner awareness of how dangerous the situation has become. Most likely he will do everything possible to improve his game, but keep on playing at the same $ velocity, as his perception will be that his downswing is a function of his play, and not random forces.

What destroys traders/gamesmen is being hit with a streak of randomness at a $ velocity that is excessive for your bankroll, doing everything you can to improve your trading/game, losing more because the random downstreak continues, and damaging your ego/confidence to the point where your game does fall apart.

After playing these huge games, after living in that world, after being acknowledged as the best by so many people, do you really think BT is going to drop down to 10/20 (or somewhere in that neighborhood) for a year if his swings get up towards $10M ? I don't think he will. I think he'll keep on fighting at the same $ velocity and end up busto in the process.

Huh? I'm not saying BT is a degen.

What I'm talking about is the ability to judge catastrophic risk. It's a very tricky skill, and almost no one gets it right the first time. I've never met, or ever even heard of anyone who got it right the first time.

There are two games going on: there is BT's game, his ability to consistently play his best against a variety of opponent skills, styles, personalities, a variety of stakes, and a variety of variance players, like Farha.

Then there is the metagame. There is his ability to judge whether his bankroll swings have become too dangerous for the velocity of money he is putting at risk.

It very important to keep one truth of trading/poker in mind at all times: if you are on a serious downswing, and you put it down to poor play which can not be remedied, and you give up, you are probably finished as a professional at that level (or at least for a number of years).

By giving up, you have so severely damage your ego-thought-process that psychologically you no longer can think clearly when playing at those stakes.

Breaks are an option, as are different opponents, different venues, etc. But there really is only one way to re-establish your ego and confidence without continuing the excessive risk: and that is drastically lower your $ velocity, wait until you start winning consistently, regain your confidence. This takes time, a lot of time, maybe a year or more, and it is boring and humbling compared to playing at the higher levels.

You are probably thinking, "BT is certainly capable of this". My argument is that he is, but because he's never gone broke, he probably doesn't have enough inner awareness of how dangerous the situation has become. Most likely he will do everything possible to improve his game, but keep on playing at the same $ velocity, as his perception will be that his downswing is a function of his play, and not random forces.

What destroys traders/gamesmen is being hit with a streak of randomness at a $ velocity that is excessive for your bankroll, doing everything you can to improve your trading/game, losing more because the random downstreak continues, and damaging your ego/confidence to the point where your game does fall apart.

After playing these huge games, after living in that world, after being acknowledged as the best by so many people, do you really think BT is going to drop down to 10/20 (or somewhere in that neighborhood) for a year if his swings get up towards $10M ? I don't think he will. I think he'll keep on fighting at the same $ velocity and end up busto in the process.

Huh? I'm not saying BT is a degen.

What I'm talking about is the ability to judge catastrophic risk. It's a very tricky skill, and almost no one gets it right the first time. I've never met, or ever even heard of anyone who got it right the first time.

There are two games going on: there is BT's game, his ability to consistently play his best against a variety of opponent skills, styles, personalities, a variety of stakes, and a variety of variance players, like Farha.

Then there is the metagame. There is his ability to judge whether his bankroll swings have become too dangerous for the velocity of money he is putting at risk.

It very important to keep one truth of trading/poker in mind at all times: if you are on a serious downswing, and you put it down to poor play which can not be remedied, and you give up, you are probably finished as a professional at that level (or at least for a number of years).

By giving up, you have so severely damage your ego-thought-process that psychologically you no longer can think clearly when playing at those stakes.

Breaks are an option, as are different opponents, different venues, etc. But there really is only one way to re-establish your ego and confidence without continuing the excessive risk: and that is drastically lower your $ velocity, wait until you start winning consistently, regain your confidence. This takes time, a lot of time, maybe a year or more, and it is boring and humbling compared to playing at the higher levels.

You are probably thinking, "BT is certainly capable of this". My argument is that he is, but because he's never gone broke, he probably doesn't have enough inner awareness of how dangerous the situation has become. Most likely he will do everything possible to improve his game, but keep on playing at the same $ velocity, as his perception will be that his downswing is a function of his play, and not random forces.

What destroys traders/gamesmen is being hit with a streak of randomness at a $ velocity that is excessive for your bankroll, doing everything you can to improve your trading/game, losing more because the random downstreak continues, and damaging your ego/confidence to the point where your game does fall apart.

After playing these huge games, after living in that world, after being acknowledged as the best by so many people, do you really think BT is going to drop down to 10/20 (or somewhere in that neighborhood) for a year if his swings get up towards $10M ? I don't think he will. I think he'll keep on fighting at the same $ velocity and end up busto in the process.