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Chapter 10 (Bonus): Ending with an idea.

By: Sentras @ 12:42 (EDT) / 485 / Comment ( 1 )

Chapter 10 (Bonus): Ending with an idea.
I want to finish my book with an idea for you guys. Many of us expect to gain a lot of money fast out of poker and so you should. However we often expect too big too fast results. This could get you demotivated and slacking, which should be avoided at all cost.

Let’s say you deposit 100 euro’s. Congratulations, you can start and play poker. You expect that 100 euro’s to grow fast and strongly the first month. Most of the times that won’t work out and you’ll stay around break even, maybe win slightly or lose a lot.

Money on your poker balance is like real live money, as in you can spend (aka lose) it in an instant. Step away from that mentality and reread my cope with money chapter. Take pride in saving up money and make it a game. It is far more enjoyable to let your capital grow, than spending it. Remember that saving and growing money will always be harder than spending it. That is what will make it fun: The challenge.

Now you have to see your poker bankroll as an investment. Let’s say you save 30% of your wages. 10% could be a security capital which you’ll never touch; it is backup for uncommon and unexpected events, combined with a feel good factor that you have money on the side. The second 10% could be your passive capital, use that money as save investments with guaranteed profits and no risks. The third 10% could be your active capital. Active here means that you actively use it and try to make a profit out of it. That could be stock trading, small investments with an expected ROI. Obviously poker is also an active investment.

Just remember my number one rule of investment. Investment comes from investigate! INVESTIGATE before doing it, or you lose it! Investigate in poker means that you have to study the game! The more you know, the higher you profit percentage.

And here is the final thought. Don’t expect to have miraculous unbelievable ROI’s! Let’s say you are a decent stock trader on annual bases. Having a 20% ROI as a hobby trader, should be really nice on yearly bases. I would even say most people don’t get the 10%. So why would you expect your 100 euro’s to grow 100 times faster in a year? Isn’t it already good if you could get those 100 euros to 150euros by the end of the year? After all that’s a 50% increase.

Of course it is easily do-able to have a 50% increase in the micro stakes. But once you get higher, it won’t be. So think in perspective. If you can let your active capital grow by 20% every year. You will grow a big capital in a relative short time.

Think in perspective…

PS: Hopefully you have had a nice read. This is the end of my poker blogbook.
Kind poker regards,

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