Bug's Poker Tip #3

Don't play a hand from the blinds that you wouldn't normally play from early position.

I've blogged about this before: don't buy kumquats just because they're on sale. Are you normally playing a hand like Q♦3♦ in early position? Uh, no, I didn't think so. Then why are you playing it from the blinds? Because you're getting a good price from some field limpers in the pot? Uh, what kind of cards are you hoping to flop? Q-Q-3? 3-3-3? A bunch of diamonds? The first two are highly unlikely to happen, so the price you have to be getting needs to be extremely good to make up for your positional disadvantage, and your opponents have to be extremely bad if you want them to pay you off in the rare instance that you do hit. The flush draw is more likely, but the most probable hands that are going to give you action are those that beat you. Fold these bright and shiny turkeys and don't look back. Remember: you're gonna be OOP in the blinds on all remaining streets of action. Just pretend you're UTG, fold, and move on.

All-in for now...

-Bug

Hand Chart Construction, Part 2: Format

There are 1,326 unique starting hands in Texas Hold'em that can be dealt to a player. Preflop, however,we can think of a hand like Q♥J♥ as being functionally equivalent to Q♣J♣, and hands like 8♠7♥ the same as 8♦7♣. In other words, we can reduce this rather large number of 1,326 hands to a smaller, but still somewhat unwieldy 169 "unique" hands. 


Of these 169 hands, 13 are pairs, 78 are suited non-pairs, and 78 are non-suited non-pairs. Within these three basic groupings of cards, some are clearly stronger (and therefore more "playable") than others. Within the pairs, for instance, AA is clearly stronger than 22 before the flop. Similarly, AKo is stronger than AQo, which is stronger than KQo, and so on. The trick with a starting hand chart, therefore, is to display all 169 2-card hands in a manner that is both easy to read, but still informative in terms of relative strength. We also want to be able to differentiate playable hands as a function of our position, table dynamics, and the action upstream of us.

To do this, there are essentially three primary styles or formats we can choose from when constructing a starting hand chart: 13x13 Grid, Matrix, and Text. Here's little bit about each:

13x13 Grid. This is the format that programs like PokerStove and Flopzilla use. Pairs are located along the central diagonal that runs from the upper left of the grid to the lower right. Suited cards are above this diagonal, and unsuited cards are below it. Generally speaking, the higher up and to the left you are in the chart, as well as the closer you are to the diagonal, the stronger your 2-card hand is (e.g., note that AA is in the upper left corner, while hands like 32o are near the lower bottom right.)

13 x 13 Grid Format

• Pros: The chief advantage  to this format is that the chart is compact and easy to read. It's also easy to visualize where your hand sits relative to others in terms of general strength. In other words, how far up and to the left is your hand on the chart?
• Cons: The chief disadvantage with this chart is that it doesn't leave much room to add information on things like position, table dynamics, or the upstream action. Yes, you can use color, but this only provides a solution to one of these items.

Matrix Format. This is the style that I personally used when I was first starting out in poker. Down the left side of the matrix is a listing of hands, usually sorted into groups by the high card in the hand. Across the top are both positions and upstream actions. To use this chart, you simply drop down vertically along the left side until you find your hand, then scoot horizontally across the chart until you find your position and the upstream action. Easy peasy.

Matrix Format

• Pros: The biggest advantage of this chart is is ease of use and display of the information.
• Cons: The biggest disadvantage of this chart is that it's a little slow and awkward to use. The chart can also be pretty large if you want to include a lot of hands. This means it's hard to create one that sits fully on your desktop when you play; i.e., the one I used to use required me to scroll up and down.

Text List. This is the old-skool "chart," which is in reality just a list of positions, along with columns for call, raise, and so on.

Text Format

• Pros: you can fit a lot of information into a small, compact area.
• Cons: it's tough to read this this kind of chart in the heat of battle; graphical displays are almost always better than text displays when trying to convey information in a fast, concise, accurate manner. You don't see fighter pilots with text lists displayed on their HUDs, do you?

There are other types of charts, but these are the most common. So which one am I going to use? I haven't fully figured that out yet, but I know that I'm not going with number three (text list). Instead, I think I'm going to start with the matrix format as a means of simply collecting the data. Then I might try to shoe horn the information into some kind of hybrid grid format. Dunno. The trick is figuring out a way to display all the data into just one or two charts. We'll see how it develops. The next thing I want to do, however, is start creating the actual data that goes into the chart.

Back to Part 1  or  Forward to Part 3

All-in for now...
-Bug

Lucy and the Full Tilt Football?

The following was reported on the FlopTurnRiver.com website today:

After the disappointing rumors that were reported on last week, there is now good news floating around. It has been reported by various sources (first by Poker Players Newspaper) that the negotiations between PokerStars, Full Tilt, and the DOJ have come to an end.

This article has caused mass hysteria and speculation, mainly because there has been no formal announcement from the DOJ or PokerStars. However, kevmath and Diamond Flush have tweeted confirming good news is coming:

Diamond Flush ‏@Diamond_Flush
Long awaited news coming at Diamond Flush Poker next few days. No speculation, no rumors, real news.

Kevin Mathers ‏@Kevmath
Apparently, there will be an announcement regarding Stars and FTP on Monday. #staytuned ?

Both are very knowledgeable in the industry and have numerous inside sources. Although we can’t say what’s up yet, I think now is a good time to use the power of… ONE TIME!

We will report more on the story as it comes in.

Not quite holding my breath yet, but this sounds fairly promising....

...but then again, Master Charles Brown probably thought the same thing whenever he saw a football.

All-in for now...
-Bug

Hand Chart Construction, Part 1: Assumptions

As I mentioned in my last post, I'm a--heaven forbid!--believer in starting hand charts for beginners. If you take a few minutes of googling (or yahoo'ing or bing'ing or whatever your preferred means of web searching is) you can find a plethora of hand charts. But which of these should you use? Good question. There are undoubtedly fine charts floating around in the virtual ether, but there are also some bizarre one, and others that, frankly, are dangerous to use. So rather than try to work with someone else's existing chart, I'm going to build one from scratch and create a basic guide to illustrate how it's done. This will serve the double duty purpose of providing a chart, while helping discuss and understand individual hands and how they should generally be played. Let's start with some assumptions:

The first step to creating a chart is to decide what the game type and various conditions are. As I mentioned in a recent post here, even at Level-1 there are a large number of factors that affect whether and how you should play that ATo you just picked up in MP. Playing at a shallow-stacked LAg high-stakes 6-max table is going to be very, very different than in a deep-stacked nitty micro-stakes full-ring game.

For purposes of this initial exercise, I'm going to assume the following:

• Game Type: Online cash, or ring game. Cash is simpler to understand than tournaments, in which the rising blinds, and stage of the tournament, strongly affect which hands you should enter a pot with. Therefore, we'll keep it simple and start with good 'ole fashioned cash.
• Table Size: Full ring, 9-handed table. When we get around to creating a short-handed 6-max table chart, we'll start by simply truncating the first three seats of the chart for 9-handed play.
• Resolution: I'm going to stick with general categories for position; for practical purposes at L1, there is not a lot of difference between UTG and UTG+1, or between the CO and the Button. Therefore I'm going to just stick with four positions in the chart: EP, MP, LP, and the blinds. 
• Stack Size. For this first chart, let's assume a "normal" buy-in effective stack size of 100bb. Shorter stack sizes will skew the hands we play more toward big pairs and face cards, while deeper stacks than this will shift us into more drawing- and bust'em-type hands. One hundred big blinds is a good middle ground, and it also represents the typical max initial buy-in at most online cash games.
• Table Dynamics. Let's start with a table filled with decent TAg players, who are playing a very ABC style. Once we nail this down, we can make adjustments for looser or tight games, and eventually for specific players.
• Game Size. Even if you're Warren Buffet and can afford to sit at the big-boy's tables, I'd suggest aall beginners start  at the micro-stakes games, where the competition plays in a simple, mostly straightforward manner. Ergo, let's assume we're at a $10NL ($0.05/$0.10) online table, which is equivalent to a $0.50/$1.0 live game.

In the next installment, I'll talk about the format and layout of the chart. Then we'll jump into the actual creation of the the hand recommendations.

Back to Introduction or Forward to Part 2

All-in for now...
-Bug

Bug's Poker Tip #2

The old guy always has it.

Stereotyping, while not a good thing in most other aspects of life, has a definite, acceptable place in poker. In fact, when you first sit down at a table, you need to use any and all clues at your disposal to start putting other players on hand ranges. This includes--gasp--the age, race, gender, clothing, body art, hygiene, and any and all other external factors the opp exhibits. The guy is eighty years old and betting strong on all three streets? It's more likely he has it than not. The guy is twenty with a hoodie and sunglasses? Now it's much less likely. This kind of stereotyping is valid online, too. The player has a hip poker-slang screen name like DonkeyBaller, complete with a bunch of site accolades and awards attached to his avatar? He's probably going to play LAggier than someone named JoansGrandDad1954. Stereotyping is just another valid tool to categorize opponents when you first sit down. Then you can start the process of refining your reads with actual notes, tells, betting, and other indicators.

All-in for now...

-Bug

Bug's Poker Tip #1

People bluff a lot less often than you think.

Sure, there are players who think bluffing is what poker is all about. So what? They're the minority, especially at the micros. If a player is trying to tell you that their hand is strong, listen to them. Seriously. Look at board texture and re-create the hand in your head. Does his bet say that he has it? If so, fold. Poker really isn't as difficult as we sometimes make it out to be. The Guru once remarked to me that, "This ain't rocket science." And you know what? He's right. Fold.

All-in for now...

-Bug

Micro-Stakes Hand Reading

I was goofing around at the micro-stakes tables today, killing some time, when this hand came up. As it played out, I called the two hands aloud before they were flipped upright. Let's see if you can do the same...

Merge, $0.02/$0.04 No Limit Hold'em Cash, 6 Players
Poker Tools Powered By Holdem Manager - The Ultimate Poker Software Suite.

CO: $4 (100 bb)
BTN: $6.63 (165.8 bb)
SB: $8.07 (201.8 bb)
BB: $4.10 (102.5 bb)
UTG: $3.68 (92 bb)
Hero (MP): $4 (100 bb)

Preflop: Hero is MP with J♣ J♦

UTG calls $0.04, Hero raises to $0.18, 2 folds, SB calls $0.16, BB folds, UTG calls $0.14

Flop: ($0.58) 7♣ 3♣ T♥
(3 players)
SB checks, UTG bets $0.43, Hero calls $0.43, SB calls $0.43

We're at the micro-stakes here, so the players' ranges are pretty wide, including trap hands, shiny-shiny-bright hands, as well as all the usual stuff. The limp-call by the UTG is usually a small pair or a weak connector. The SB cold calling is also similar, but we can also throw in hands like suited face cards, too. I've got an overpair, but the board is moderately wet and I've got two opponents. My mistake here is not raising to charge the flush and straight draws.

Turn: ($1.87) T♠
(3 players)
SB checks, UTG bets $1.40, Hero folds, SB calls $1.40

This is an easy fold, as a ten is easily in the UTG's range, we're multi-way, and I'm far from committed. The secret to hold'em is not to get married to a hand like J♣ J♦ in a multiway pot. The SB check-calling screams of a draw. Muckeroo.

River: ($4.67) 9♣
(2 players)
SB bets $4.67, UTG calls $1.67

The pot-sized donk bet by the SB means he clearly has.. what? The UTG's call is also indicative of... what? Can you guess?

Results: $8.01 pot ($0.40 rake)
Final Board: 7♣ 3♣ T♥ T♠ 9♣

SB showed K♣ 2♣ and won $7.61 ($3.93 net)
UTG showed Q♥ T♣ and lost (-$3.68 net)

If you can't make these two reads on the river, you've got to get busy and work on your R-is-for-Reads skills. Start with a hand range preflop, and then narrow it on each succeeding street of action. Practice make perfect. In fact, the best time to practice is whenever you're not involved in a hand, which should be about 75-80% of the time. That's a lot of practice...

All-in for now...
-Bug

Thinking In Terms of Equity

Waaaaaay back on January 1st of this year, I posted my Poker Resolutions for the upcoming year (re-read it: here). Number #17 on the list was "Think of poker decisions in terms of Equity and EV."

Recently I received an email from a reader that said, in part:

You've explained equity to me at least 10 x if not 100. I see it on stove. I see it in ICM. I read it in Miller. P 110. 

But I am unable to explain it. Please help.

Okay, so what is Equity? And why does it matter?

In simple terms, Equity is your share of the current pot at that moment in time. In more complex terms, it's, well, a little more complex to explain. Let me try.

There are essentially two types of Equity we're concerned with in poker: Pot Equity (sometimes called Hand Equity), and Fold Equity. Your Total Equity in a hand, therefore, is simply your Pot Equity plus your Fold Equity. Let's look briefly at each:

1. Pot Equity. Let's say you're dealt AKo and your opponent holds JTo. Using PokerStove, we can see that before a flop is dealt, your (Pot) Equity is 65% vs. your opponent's 35%. People frequently assume this means your chance of winning the hand at that moment in time, and while this is a reasonable way to think of the situation, it's not technically accurate. What the 65% number actually represents is your theoretical "share" of the current pot at that instantaneous moment in time. If the pot was $100, then $65 of it "belongs" to you in the long run (i.e., if you were to run this scenario out a few thousand times). If the flop came out J-T-4, however, your Pot Equity on the flop would plummet to just 21%, because your opponent flopped top two pair; your share of a $100 pot at this point in the hand is now just $21. If the turn brings a Queen, your Pot Equity is now back up over 90%. And when the river drops another Jack on the board, your Pot Equity, or rightful share of the pot, is now a big fat goose egg, i.e., Zero.
2. Fold Equity. The layman's explanation for Fold Equity is simply the probability that your opponent will fold if you bet a certain amount. The more technically accurate definition is that it represents your share of the pot given the propensity of your opponent to fold to a bet of a given size. In the aforementioned example, your Pot Equity was zero on the river. But let's pretend that the Queen, Jack, and Ten on the board were all of the same suit. Let's also assume that the Ace in your hand is also of that same suit. Alas, your King is not, so you're still beat in the hand. Your opponent doesn't know that, however, and suspects that there is a possibility that you have a straight flush. If you bet big here, there is a chance a paranoid opponent may fold. How big of a chance? Well, unlike Pot Equity, there is no handy program like 'Stove we can employ to spit out the answer. Instead, how much Fold Equity you have depends on less tangible factors, like the emotional state of your opponent, what he perceives your range to be, and so on. It also (obviously) depends on your bet size. In this example, we might say that your Fold Equity on the river is nearly zero percent if you bet small, but might be as much as 10-20% if you bet a very large amount and made your opponent believe you could have the nuts.

So why does knowing what your Total Equity is matters? Because, as you will recall, there are two ways to win in poker: 1) show down the best hand (i.e., have big Pot Equity); or 2) get your opponent to fold (i.e., have Fold Equity).

Note that in the vast majority of poker hands we play (i.e., if we don't have total air or the nuts), we're somewhere in between, trying to win, with a combination of both Pot and Fold Equity. This is where things like Show Down Value hands and Semi-Bluffs come into play. Here's a simple graphic I ginned up to hopefully explain better:

Your Total Equity in a poker hand is the sum of your Pot Equity and your Fold Equity.

Finally, I'll leave you with an Equity rule of thumb that is often repeated by professional players: If you think you have more than 50% Total Equity in a hand at any given time, you should bet. I'll leave it to the reader to figure out why this is true....

All-in for now...
-Bug

Bootstrapping and Burger Flipping

Why do I play poker? As I mentioned previously (here) I ultimately play to make money… ah, but this is a bit misleading. There are lots of easier ways to make money than poker. There are also certainly less frustrating ways to bring in a small second income like I do playing poker. Hell, there for a long time when I was grinding the microstakes tables and learning the basics of L2 poker, I would have easily made a higher, more consistent hourly wage if I’d simply taken a minimum wage job at the local burger joint.

So why play poker? Answer: I play poker to make money, but I also do so because it’s challenging and stimulating. Flipping burgers is decidedly neither challenging nor stimulating. Said another way, I play poker for the mental challenge (of making money).

For me, it’s like solving a never ending puzzle. What does this guy have? Am I getting implied odds here? What does he think I have? How can I extract value from the maniac in the big blind? What has that huge loss four hands ago done to his mental state. What does he think of the big laydown I just made? Is he paying attention? Can I bluff him now? How much should I bet? What will a check look like to him? Is this play plus EV? And so on…

I was thinking about this the other day while I pondered basic Level-1 preflop play. This is as basic and simple as poker gets: should I get involved in the pot with the hand I was just dealt? But you know what? Even though this is as simple as poker gets, it’s still quite complex. Which is why a starting hand chart can be such a good idea for a new player.

Unlike a lot of poker coaches and books, I’m a fan of—gasp--starting hand charts, especially for absolute beginners. Yes, this is a crutch, but I believe it’s a necessary one. Think of a hand chart as a device to bootstrap a new player’s game. Poker is ultimately a game of “why” and “it depends,” and to succeed at the upper levels of the game you will need the opposite of a starting hand chart; i.e., you will need to think on your own…

… but to get started on this “it depends” learning curve, a new player needs some guidance on which hands to play and which not to play. One of the most important skills to learn in poker is which hands to get involved with, and which ones to skip. Unfortunately, even at a basic L1 style of poker, in which you’re primarily worried about the quality of your own hand, the decision to enter a pot is filled with complex factors. Gap theory, late position vs. early, stack sizes, table dynamics, etc. all come into play:

Yep, these are the factors that go into a basic L1 starting hand chart. Once the beginner has used the chart for a while, they will start to understand why it looks the way it does; i.e., why does one call an upstream raise in LP at a tight table when deep stacked and holding 3-3, but fold that same hand when the stack sizes are shallow? A chart tells you the What, but the student can begin to understand the Why as they use it over and over. In fact, after a while, the beginner should be deviate from the chart and experiment, developing their own style, and ultimately discovering on their own that poker is stimulating, challenging, and a whole lot more fun than flipping burgers.*

Continue on to Part 1: Hand Chart Construction

All-in for now…
-Bug
* Another really interesting thing to note about the use of starting hands charts (especially for doubters) is that it trains you to think in terms of hand ranges as a function of position and action. Sure, beginners can use the chart to decide which of their own hands to play in different positions facing different upstream actions. L2 players, however, can use a chart to begin narrowing their ABC opponent's hand ranges. For example, let's say you see an ABC player cold-call in LP when facing an upstream EP raise; you can use a chart to winnow down the types of hands this opponent is likely playing. In a sense, by using a starting hand chart, you're beginning the process of learning how to hand read. Cool beans.

The Duck Thrives. Kid Poker's Alive. The Brat Has Died.

Okay, finally got a few minutes to surf properly and find the Day 4 chip counts and read some of the hand histories. I'm impressed to see that some big names are still in it. Freddy Deeb and Negreanu are both evidently alive and kicking (admittedly with short stacks). Joseph Cheong is going deep for the fourth year in a row, too. (But, alas, Phil the Brat is nowhere to be seen (yay!)). The big news for me, however, is the currently 15th place T1.8M stack that Vanessa "the duck" Sebst still has. I've been a fan of Vanessa for years, starting with a very entertaining series of PLO videos she did for DeucesCracked back in the day. It would be great to see a woman make the final table, and if anyone can do it, it's two-time bracelet winner Selbst. Quack, quack, go girl go.

All-in for now....
-Bug

WSOP, WSOP, Where Art Thou, WSOP?

I'm having an absolute blast on vacation here on this side of the pond, but the one thing that's been disappointing is the dearth of WSOP main event updates. I usually tape (boy, there's an old school term... I should say "DVR") the main event, but this year I'm not able to do so. Fine, I'll just check the web... ah, but the web coverage has been surprisingly sparse (or at least I'm evidently looking at the wrong URL sites) and forget about TV coverage. No ESPN or other sports channels anywhere here in Germany or The Netherlands have carried even a hint of the Main Event. I wouldn't normally be surprised, but given that Pius H. of Deutschland won it last year, you might think there'd be at least some coverage. Aber nein, noch nichts.


All-In jetzt...
-Bug

Running Bad

“The cards do not know who you are, nor do they care.” -Anonymous

I’ve been on a long 4-week losing stretch. I’ve been through my database, I’ve run post-mortems, and I’ve double checked my stats. I’ve also looked at my EV plot and replayed dozens of hands… and the conclusion I draw is that the poker gods just don’t like me lately. I’m actually playing pretty good poker and making good decisions, but the cards have not been cooperating. Said another way: I’m running bad.  How bad? Think running with the bulls in Pamplona bad. That’s pretty close.

They say you can’t escape death or taxes in life, but I think a third item to add to that ignominious list is bad stretches of cards in poker. Everyone, if they play long enough, will encounter negative variance stretches that challenge one’s sanity. When I first learned poker at the knee of the Guru, I went 13+ months straight without a losing month (this was back in the Party Poker days, when winning was much easier than it is today). In a way, I think those thirteen months of easy profit actually did some harm to my game; i.e., it made the 14th month when I lost that much more difficult to accept. Winning was just part the game, right? What do you mean I’m losing-- even though I’m doing everything right? WTF is this so-called “bad run” thing? Poker isn’t very much fun, is it?

Every one of us has experienced long stretches in a cash game or a tourney when we can’t catch cards. While the other players around you seem to get dealt big pocket pairs every other hand, you’re catching seven-deuce after seven-deuce. This, folks, is actually very common, and it’s just a micro-type of running bad. What I’m currently going through is the macro version of a bad run. And if you play this game long enough, it will happen to you.

Getting through the pain and misery of a macro bad run is what separates the men from the boys in the game. After several weeks of misery, most players will begin to think they’re cursed, and will either burn through a lot of money trying to break the curse, or else will consider quitting the game entirely to end the suffering. Neither of these things is necessary.

First and foremost, you need to remember that bad runs, like bad beats, are part of the game. You’re not the only poker player who’s had a bad run. We all do. Even the Phils goes through it. When it’s your turn, use the experience to review and plug leaks in your game. Go through your data base and replay hands. Try to separate the part of poker you control (read: your decisions) with the parts you can’t (read: what cards you’re dealt, how your opponents play, and the outcome of any given hand).

Here are a few more things to consider (and, yes, I’m doing pretty much all of them right now):

• Stick To One Game At A Time. If your normal MO is to play multiple tables online at once, now is the time to restrict yourself to just a single table. Focusing on one game allows you the maximum time to make good decisions and play as perfectly as possible. One game allows you to practice correct starting hand selection, and then to implement REDi as fully as possible in those hands you see a flop on. Focus on making perfect decisions in a single game, rather than merely good decisions in multiple games.
• Lower Your Stakes. There’s no better time to take your stakes down a step (or two). This has the immediate effect of minimizing your losses. I pits you against weaker players, where you should have a significant edge. It also gives you a chance to play out your bad run at stakes less damaging to your bankroll (yes, this is unsound from a pure mathematical point of view, but psychologically it’s actually quite valid). You can always return to your original stakes when you get your groove back.
• Focus. Restrict playing only to periods where you’re enthusiastic and energized and ready to put 100% of your attention into the game. Playing when you’re not focused (or disillusioned) leads to bad play, which leads to losses, which in turn leads to you turning a normal bad run into an abnormal catastrophe. Don’t sit down to play when you’re brain just isn’t ready to concentrate.
• Stop Bluffing. Another way to say this is: Go back down in stakes and play ABC poker. Minimize bluffing when you’re on a bad run. Bet only for value. Put your money in the pot when you make strong hands, and don’t when you don’t. I’d suggest not even stealing as much as you normally do. Just wait for good cards and play them strong. Your EV won’t be maximized doing this, but you losses will be minimized.
• Discipline, Discipline, Discipline. Stay true to your game. Don’t start playing hands you normally wouldn’t. Stick to the basics. Variance grows larger and points more vertically downward the worse you play.
• Take a Break. Sometimes, the best thing you can do for your poker game is to give it a short break. The Guru used to mandate time-outs of 1-5 days to his students that were struggling or on bad runs. Use that time to watch some poker videos, or read a strategy book…. or, even better, just take a vacation to Europe (like I’m currently doing) and think about something other than poker. Trying to “play through” the bad run, taking beat after beat, can destroy even the most mentally strong among us. Don’t fight the current; just sit on the shore for a while and put things into perspective.

Remember, there is no set duration for a bad run. When negative variance hits it can strike for a day, a week, a month, several months or even years in extreme cases. Worse, variance is completely blind to whom it affects; it has no memory. The secret to dealing with a bad run is to start with acknowledging that it’s actually happening to you. And then take some steps to address. If you don’t, the bulls are going to stomp all over you and your bankroll.

All-in for now…
-Bug

Micro-Edges = Why I Play Poker = Profit

So why do we play poker? I think there are five basic categories that drives the majority of us to play this crazy game (excluding gambling addictions, that is):

Social Interaction, Entertainment, Mental Stimulation, Competition.... ah, but the bottom line item in this list is, of course, Profit. Everyone who plays the game wants to make money. But how is money made at poker? Long-time readers of this blog will know that I'm a fan of Roy Cooke's definition of Profit in poker:

Profit = Volume x Edge. Said another way, if you play a lot of poker against weaker players, you will eventually take all of their money. The Guru used to say in his beginning poker class that if he could play every day against an amateur on a slow boat to China, by the time the ship docked in Asia, he'd have all the money on his side of the table. Why is this? Answer: he would be able to get in a lot of volume in a situation where he had substantial edge. But what do we mean by Edge? Again, long-time readers of this blog will know that I think Edge falls into three basic macro categories:

Three basic edges in poker: a) Preparation and Study; b) Technical Skills & Tactics; and c) Emotional Control. More importantly, I think these three categories can be subdivided into nine smaller subcategories:

And each of these nine categories can be further divided into a series of individual, learnable "Micro-Edges." Some of these micro-edges (like Hand Selection and Position) are quite succinct and be covered in just a couple of lessons taught to a beginner. Other topics (like Reads) are ultimately complex, with a lot of nuance and levels of complexity. And yet others (like Tilt Control and Discipline) are very non-linear and, frankly, non-intuitive to master....

...but each of the nine edges can in fact be taught to a student of the game. This can be done in steps that are correlated to the traditional "levels of thought" in poker (Level-1, -2, etc...)

Stay tuned over the coming months as I attempt to tackle many of these Micro-Edges here in this blog. Why take this on? Because it will ultimately help improve my own game, and hopefully will result in:

Because, after all, profit is ultimately why I play the game of poker.

All-in for now...
-Bug