loss from top

[tuckercat]

this is a general idea I've been trying to figure out and any comments, suggestions etc. would be appreciated. i have a regular job as a day trader, which is very similar to poker. the only difference is i free roll with the company's money [img]/images/graemlins/grin.gif[/img] we have certain guidelines in place that govern our actions including how much we can lose on any given day. if you blow those guidelines (i.e. tilt) you will face a reprimand and possibly get canned. one of the most important guidelines is called loss from top. it dictates when you must stop trading after you've lost a certain amount from your peak gains of the day. i.e. if you're up 1k for the day at say 12pm, and your loss from top tolerance is $500... and all of a sudden at 12:30 you're at +200 for the day, your loss from top is now 800 (1k-200)... in which case at my firm you're [censored] because our VP has zero tolerance for this. what i'm trying to figure out is a guideline for a loss from top rule that i can apply to poker. too often i find myself up 1k within my first 500 hands, and then next thing you know i'm at 1.2k hands and i'm only up $250. i know that if game conditions are good, and you're not tired you should play regardless of the outcome, but that doesn't address the practical issue that had you quit at a certain point you would have x amount more money, in this example 750. what are some thoughts/guidelines/recommendations on loss from top??

[kekedarius]

I usually take a break when either I begin losing focus (getting bored, hungry etc), or when my body starts getting loaded down with adrenaline/endorphins/whatever after a big win or loss because I'll start playing differently. I don't think having a static stopping point is the best path to take, but if you really wanted one just ask yourself where your pain tolerance is and go from there. It'd probably be around 1.5 buy-ins for most people unless you have a huge bankroll.

[chesspain]

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I know that if game conditions are good, and you're not tired you should play regardless of the outcome

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Exactly!



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...but that doesn't address the practical issue that had you quit at a certain point you would have x amount more money, in this example 750.

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This is like saying that if you only folded your pocket aces preflop you wouldn't have lost eight big bets to the LAG who rivered a backdoor straight.

[kagame]

no way to do this with NL really...

unless youre operating in terms of buyins and huge #s of hands

[aaokwitme]

When ever I run great and make a big score (playing well too), I stop and read this page ( below) from my notes.

Tilt comes in two forms. Everyone knows if you take two or three bad beats in a row you are susceptible to tilting. What most people don’t know is that you are susceptible to tilting after wining a few nice pots in a row. It’s a different kind of tilt but the results are the same, what happens is you start to think you can’t be beat, so you over bet and call with hands that aren’t worth the price the pot is laying you. A good player will pick up on this and take a big bite out of your stack.

Im not saying you tilt after wining, but this is the only bump in the road to worry about. That said, I like to hit and run myself,. It gives me a chance to enjoy the big score, and settel down and play my A game a little latter.

[kagame]

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I like to hit and run myself

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Please hit and run yourself soon. perhaps fatally.

[JayKon]

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I like to hit and run myself

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Please hit and run yourself soon. perhaps fatally.

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I've know a guy for 25 years that's a hit-and-run artist. He provides much needed income, often to me.

I don't know his reasons, but he will often go back on the board after a while and come back in with a basic buy. It looks like he is protecting his win (he doesn't know how to play post flop poker). On the other hand, it may be a habbit from the lowball days.

[HedonismBot]

The fact is that when you're losing you are usually playing worse than when you were winning and are more likely to tilt or turn your positive expectation game into a negative one, especially when you continue to play in the hole. I think a loss from top restriction would save the majority of players a lot of money. If you have great emotional and tilt control then no sweat but if you don't then definitely set yourself a stop loss of 2 buyins or something and see how it goes.

[Hoi Polloi]

Winning feels better than losing. However, during any given session, whether you are winners or stuck there comes a point such that winning another 10BB is not going to feel better than loosing 10BB feels bad and vice versa. That is the point to consider quitting.

[aaokwitme]

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I like to hit and run myself

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Please hit and run yourself soon. perhaps fatally.

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Wow thats so funny. I wonder if anyone laughed?