Sunday 11 January 2009

Poker Motivation

for the record, I'm trying a different approach to motivate my poker study this year.

The basic strategy is to avoid buying any personal treats (i.e. gadgets or software upgrades) unless I can pay for them through poker.

Given that I'm currently a losing player, this may seem fanciful *but* it has one huge benefit: it reduces impulse spending!

I've already avoided buying a few DVDs and computer games. Instead they've gone on my amazon wishlist.

Observant readers may have noticed the obvious catch: I could spend more playing poker than I would buying stuff. This is true.

I haven't decided exactly how I'm going to avoid overspend on poker but I shall probably approximate how much I typically spend on personal treats over a period, take a small percentage of that and make it my daily stop loss figure.

I'll allow myself to accrue my stop loss over time. E.g. if I allow myself £3 a day and break even (or profit) for 100 days, then the stop loss is now £300... but if I then lose £60, the stop loss the next day would be £243.

Something like that...

I should also factor in what happens if I go out and by a treat... i.e. if I have a £300 stop loss then spend £100 on a treat... my stop loss should go down.

Of course, I want to MAKE money, not just break even or minimize my losses. Just got to consider all possibilities .

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