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 .
Sunday, 11 January 2009
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