Psychology: Stop-Loss Limit

The Psychology & Didactics section has been updated with a new article that is along the same lines as the Tilt series. The newest article is called Stop-Loss Limit - Pulling the Ripcord and is a recommended read for all members.

Read the article: Stop-Loss Limit - Pulling the Ripcord

A poker player has to play two roles. On the one hand, you are a competitor coming to the table to challenge other players; on the other hand, you have to be your own coach and manager. The coach is responsible for the player's training and development as a player. He decides when to play and manages the bankroll. Your career lies in his hands.

This psychology
article comes as an add-on for the Tilt Series and it discusses the concept of tilt and its consequences on a player's bankroll.

Taken from the stock market field, the "stop-loss limit" in poker states that a player should only afford to lose a certain amount of buy-ins, after which he should leave the table or even end the session. Depending on the player type, the stop-loss limit can vary from 2-3 buy-ins and go up to even 9 buy-ins.

The article focuses on the fact that it is important to know when to give up and cut your losses - doing so is extremely important in the long run. Losing at a table and deciding to leave before all your bankroll is lost is much more effective than continuing in hopes that things will change - there is always tomorrow.

Tacitus said "He who fights and runs away, lives to fight another day; but he that is in battle slain, will never rise to fight again." You will win the money back, just not today.

Read more here: Stop-Loss Limits - Pulling the Ripcord