Professional Attitude article

    • informant00
      informant00
      Basic
      Joined: 05.06.2013 Posts: 8
      So I read my first article on Mindset & Psychology, as I'm interested on this aspect of poker at the moment, I didn't understand this paragraph below, could some care to explain and in particular what is ".2 BB/100 hands"?

      "Suppose you book an hour of private coaching every two weeks, at an expense of $50/month, playing the limit $1/2. You play around 500 hands per day, or 15000 hands in a month. So if private coaching finds a small mistake in your game that's costing you .2 BB/100 hands, you'll make a profit of 5BB from the coaching. This is calculated as conservatively as possible - usually you play more hands and, as a beginner, your winrate increases more than just.2 BB/100 hands."

      Source: http://www.pokerstrategy.com/strategy/psychology/135/1/

      Many Thanks.
  • 7 replies
    • JCSeerup
      JCSeerup
      Bronze
      Joined: 14.12.2010 Posts: 1,039
      It's the increase you can expect to see in your win-rate.

      So in this example the 0,2bb/100 hands equals 0,2 * $2 = $0,4, so your win-rate in $ will increase $0,4/100 hands.
    • UPAY4DINNER
      UPAY4DINNER
      Bronze
      Joined: 27.09.2009 Posts: 21,921
      Thank you JCSeerup!
    • informant00
      informant00
      Basic
      Joined: 05.06.2013 Posts: 8
      JCSeerup - that's for the tip. I think there was a confusion on my part also for not understanding $0,2 as $0.2 makes more sense to me. For us poker numpties, to break this down:

      Stage 1:
      Your normal poker game: Texas Hold 'em $1/$2 Limit
      Average play per day: 500 hands
      Average play per month: 15000 hands

      You decide you want some lessons, that costs you $50 per month.

      Coach observes your games, and she says hey, start playing this way, and it could improve your game by .2 BB/100hands.

      Start of Note:
      The meaning of .2 BB/100 hands is:

      .2 = $0.2 (or whatever currency you're playing in)
      BB = $2 (the $2 in $1/$2)
      /100hands = per 100 hands
      End of Note:

      So putting all that together it means, per 100 hands, your coach has spotted an action in your game that is costing you $0.2 multiplied by $2.

      $0.2 x 4 = $0.4

      Understand Stage 1 before moving on to Stage 2.

      Stage 2:
      Now the key question is, has the observation by your coach made the investment of coaching (remember, that cost you $50 per month) profitable for you?

      Well yes, because if we do the math:

      Recall, per 100 hands, we can now gain $0.4 as you were losing $0.4 per 100 hands and you now know where a fault in your game was. Remember, how many hands are we playing per month on average?

      15000, right? (See the beginning to check)

      How many 100 hands are there in 15000 hands? 15000 / 100 = 150. (Really understand this bit)

      Taking 150 multiplying by $0.4, type in a calculator and what do you get?

      You should get 60, which means $60.

      Understand this before moving on to the final part.

      Stage 3:

      So to summarise, coaching per month has cost you $50 per month, but as a result you have the potential to gain $60 per month. So how much profit have you made?

      Gained from Coaching advice - Coaching Cost = Profit
      $60 - $50 = $10

      Lastly, there is a statement in the paragraph that says: "you'll make a profit of 5BB from the coaching"

      Well how many BB's are in $10? I'll leave you to work that out : - )
    • JCSeerup
      JCSeerup
      Bronze
      Joined: 14.12.2010 Posts: 1,039
      You make a couple mistakes here, I will just go through it for you.

      Stage 1:
      Your normal poker game: Texas Hold 'em $1/$2 Limit
      Average play per day: 500 hands
      Average play per month: 15000 hands

      You decide you want some lessons, that costs you $50 per month.

      Coach observes your games, and she says hey, start playing this way, and it could improve your game by .2 BB/100hands.

      Start of Note:
      The meaning of .2 BB/100 hands is:

      .2 = $0.2 (or whatever currency you're playing in)
      BB = $2 (the $2 in $1/$2)
      /100hands = per 100 hands

      The first line is wrong I would probably put it this way instead:
      BB = $2 (the $2 in $1/$2)
      0,2 BB * $2= $0,4
      /100hands = per 100 hands


      End of Note:
      So putting all that together it means, per 100 hands, your coach has spotted an action in your game that is costing you $0.2 multiplied by $2.

      $0.2 x 4 = $0.4

      I really don't understand what you do here. Why do you multiply this with 4? (I guess it's a typo and it should be 2, right?) But we already got to $0,4 in the start note, so no need for an end note.

      Understand Stage 1 before moving on to Stage 2.

      Well how many BB's are in $10? I'll leave you to work that out : - )

      The rest seems correct and as you mention in the example you end up with a $10 profit by getting a coach, which is 5 BB
    • informant00
      informant00
      Basic
      Joined: 05.06.2013 Posts: 8
      JCSeerup - thanks for the corrections. Except your first suggestion of a correction, we'll just owe to a culture difference. Your second point, I think it should be shown explicitly how the $0.4 is calculated. I don't think it's that obvious with your notation to readers not familiar with the comma notation for decimal numbers.

      Here is a complete rewrite with the corrections I've made.

      Stage 1:
      Your normal poker game: Texas Hold 'em $1/$2 Limit
      Average play per day: 500 hands
      Average play per month: 15000 hands

      You decide you want some lessons, that costs you $50 per month.

      Coach observes your games, and she says hey, start playing this way, and it could improve your game by .2 BB/100hands.

      Start of Note:
      The meaning of .2 BB/100 hands is:

      .2 = $0.2 (or whatever currency you're playing in)
      BB = $2 (the $2 in $1/$2)
      /100hands = per 100 hands
      End of Note

      So putting all that together it means, per 100 hands, your coach has spotted an action in your game that is costing you $0.2 multiplied by $2.

      $0.2 x 2 = $0.4

      Understand Stage 1 before moving on to Stage 2.

      Stage 2:
      Now the key question is, has the observation by your coach made the investment of coaching (remember, that cost you $50 per month) profitable for you?

      Well yes, because if we do the math:

      Recall, per 100 hands, we can now gain $0.4 as you were losing $0.4 per 100 hands and you now know where a fault in your game was. Remember, how many hands are we playing per month on average?

      15000, right? (See the beginning to check)

      How many 100 hands are there in 15000 hands? 15000 / 100 = 150. (Really understand this bit)

      Taking 150 multiplying by $0.4, type in a calculator and what do you get?

      You should get 60, which means $60.

      Understand this before moving on to the final part.

      Stage 3:

      So to summarise, coaching per month has cost you $50 per month, but as a result you have the potential to gain $60 per month. So how much profit have you made?

      Gained from Coaching advice - Coaching Cost = Profit
      $60 - $50 = $10

      Lastly, there is a statement in the paragraph that says: "you'll make a profit of 5BB from the coaching"

      Well how many BB's are in $10? I'll leave you to work that out : - )
    • JCSeerup
      JCSeerup
      Bronze
      Joined: 14.12.2010 Posts: 1,039
      The reason that I changed the start note is because 0,2 bb = $0,2 is wrong.

      This is not hard math questions, so I will just write it like I learned in high school:

      Info:
      Your normal poker game: Texas Hold 'em $1/$2 Limit
      Average play per day: 500 hands
      Average play per month: 15000 hands

      You decide you want some lessons, that costs you $50 per month.

      These lessons will improve your win-rate with 0,2 bb/100 hands

      Note 1:
      The meaning of .2 BB/100 hands is:

      Big Blind (BB) = $2
      Improvement = 0,2 BB/100 hands = 0,2 * $2 = $0,4

      Note 2:
      Now we would like to calculate if getting a coach is +EV (Expected Value).

      We know that hiring a coach is going to make us $0,4/100 hands.

      We play 500 hands per day:

      So we multiply with 5 on each side

      $0,4 * 5 / 100 * 5 hands = $2/500 hands

      We play 15,000 hands per month:

      So we multiply with 150 on each side (15,000 / 100 = 150)

      $0,4 * 150 / 100 * 150 hands = $60/15,000 hands

      Now we know that we are making $60 per month by hiring a coach for a price of $50.

      $60 - $50 = $10
    • informant00
      informant00
      Basic
      Joined: 05.06.2013 Posts: 8
      Thanks for another interpretation there.

      Don't you mean to say $0.2 x 4 = $0.4 is incorrect? I didn't say anywhere 0,2 bb = $0,2. Anyway, doesn't matter now.

      Also, yes it is basic high school math, but it is appreciative to others how these calculations are made. You maybe surprised some pokers players have probably never been to school. Lastly, I got caught out with the use of the comma in the number - us Brits didn't get taught that in school :-)