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Do you have a stop loss?

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Do you have a stop loss? - Sun Jan 13, 2013, 12:44 PM
(#1)
Grade b's Avatar
Since: Jun 2010
Posts: 3,604
Was watching Garth's "cool head Training" yesterday (very good btw)

and someone in Chat asked if Grath used a Stop loss (where you stop for the day after a certain amount lost). Garth said he does and recommended that we shoud too.

So questions.

1. do you use a stop loss?
2. How much do you/ would you use?
3. What are the advantages to a stop loss?
4. What are the disadvantages to a stop loss.

I ask because i'm concidering putting this in place for my yearly goals was thinking about 3 buy-ins.

thanks in advance

Grade b


I am always ready to learn although I do not always like being taught. ~Winston Churchill

13 Time Bracelet Winner


 
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Sun Jan 13, 2013, 04:02 PM
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TrustySam's Avatar
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You thinking about putting one in place grade b?

Wish I had put one in place sooner, but I've got one now - just started today with the 3 buy-in amount.

Haven't needed it *yet* today, and I haven't been running too hot.

Thought you might find this interesting though - you know what I was noticing is that it's pretty hard to hit when I'm only playing two tables.

I used to gamble a lot more on flips, so 3 buy-ins seemed kind of small? But then I realized that flips are 0 EV, so why go through all that volatility for nothing?


So I guess 3 buy-ins is more than enough room to play and not have to be done with the day in like 10 minutes?

Feels kind of good to feel prepared for the worst I think? Would be interesting to hear other peoples' stories too though
 
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Sun Jan 13, 2013, 04:28 PM
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Posts: 3,604
Yes I'm thinking, Of putting the 3 buy-ins in.

Can't think of a Time when I've lost 3 full buy-ins and comeback.

Grade b


I am always ready to learn although I do not always like being taught. ~Winston Churchill

13 Time Bracelet Winner


 
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Sun Jan 13, 2013, 05:00 PM
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I used to avoid looking at my daily HUD stats because I was always worried it might tilt me ... so I don't *know* if I've ever come back.

But the fact that I was avoiding looking at times to avoid tilt ... I couldn't have been worried I'd look and see a big comeback ... that doesn't sound right


I wouldn't be surprised if the same were true for me grade b ... about there not being too many come-backs after dropping 3 buy-ins. Sometimes it's hard to always tell if we're starting to tilt just a bit?

So far I give it a big thumbs up ... with no downside as far as I can tell
 
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Mon Jan 14, 2013, 08:21 PM
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Oh, you know what else I was thinking about with the stop loss ...

I've been reading your blogs about how you've been finding it hard to let go of those strong, 2nd best hands - I struggle with that so much, I've had to make it one of my goals for 2013 to try and conquer, eh? lol!



I guess that's pretty common ... and it seems like it's always the same thing, eh? Like, on one level, we do suspect we're likely beat - but yet the pot's gotten so big. Or else the chances of the person having the hand they do are so slim (like hitting a gut-shot by the river when they only had 4 outs, or making a set with a lower pocket pair when they were a 4:1 dog), that maybe there's a temptation to see what we want to see?

Not sure what the solution is to that - I'd say it would just be repetition ... but I've played over 200,000 hands of cash now!!

So maybe it's repetition ... and awareness?

I guess having a stop-loss might force one to slow down and really take a long, hard look at the hands that caused us to hit the stop-loss?

And then with the extra time, I suppose there'd be that chance to go over HA hands or videos for guidance too? I've been keeping a collection of examples of where - and why - we should be folding. Like here are a couple of tricky spots I've saved up with tips on how we should be reconsidering our TP when faced with a reraise:


Calling station raises huge on the river when 4-to-a-straight hits - and we're holding TP

- looser players' ranges are a lot wider, so while it might *seem* implausible for them to have a combo of hands that would have led them to call 2 streets and then make a straight by the river, they're never bluffing


Casual player with a small-stack reraises the flop, into a multi-way, on a dry board

- check-raiser was doing it into a raiser and a caller

- hand values need to rise here in multi-way pots - like you have to have something pretty good to continue if somebody seems eager to get stacks in the middle

- especially on a dry board - since there's no draws the villain could be doing this with

- note that casual players with smaller stacks tend to play much wider ranges, so the villain could have had any number of sets or 2pr combos on a board that *looks* pretty harmless



I keep hoping that one of these days I'll find it in me to fold when I'm beat ... hopefully the stop-loss'll help with that too, in addition to tilt? We'll see I guess ... the donkey in me seems to run strong ... sigh ... :/

Last edited by TrustySam; Mon Jan 14, 2013 at 08:24 PM..
 
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Mon Jan 14, 2013, 08:36 PM
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Grade b's Avatar
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Posts: 3,604
I'm making a few more fold now, Its all down to how good a read I think I've got on a player.

Looks like you have aims and goals in mind for 2013, maybe you can join the time-vault challenge.

Post your lay-downs each week.



Grade b


I am always ready to learn although I do not always like being taught. ~Winston Churchill

13 Time Bracelet Winner


 
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Mon Jan 14, 2013, 08:58 PM
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Hey, I really like that idea ... make it my goal to become a first-rate folder, and dedicate the thread to all my successes ... and failures - no matter what.

Then there'd be no escaping my track record, if awareness is part of the key.


The only part I'm sort of feeling meh about are the blogs - just because i've reserved those for my annual goal-setting, and if I have to do 2 a month, my *system* will get all mucked up.

But I guess folding should take priority, so ...


Hmmm ... something to think about. Thanks for the great idea! Nice to hear you're making progress ... hopefully the blog'll help me make some too
 
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Wed Jan 16, 2013, 10:49 AM
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[QUOTE=TrustySam;386127]I used to avoid looking at my daily HUD stats because I was always worried it might tilt me ... so I don't *know* if I've ever come back.

Interesting Sam.....

I show my own HUD stats to make sure I am not starting to play tilt, keeping an eye on my overall VP and PFR not allowing that fancy play syndrome to set in.

Grade....

Yes mate, mine has always been 5 buy ins, perhaps after reading this way to high and it needs dropping, but I don't play everyday like you folks do, so my 5 buy ins probably balances this out.

Hope you two are running well

Paul.
 
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Wed Jan 16, 2013, 12:53 PM
(#9)
Sandtrap777's Avatar
Since: Jun 2010
Posts: 3,310
Quote:
Originally Posted by Grade b View Post

1. do you use a stop loss?
2. How much do you/ would you use?
3. What are the advantages to a stop loss?
4. What are the disadvantages to a stop loss.

Grade b
Hey Grade,

This is my thinking, even though someone here will not believe a word I say...lol

1. My stop loss is in the number of hands I play in a session. It's been said that if you play good poker, your good hands will win, so bad swings will happen. If my session went well (not necessarily a profit), I will play another session later

2. I don't have a $$$$ value, it's a 1,000 hands

3. & 4. If things are bad after a session, go back to your HH and look at what went wrong, why did you lose? If you played good poker, it's just bad luck. But most of the time we lose, we try and recuperate by increasing our range and lose more, so YES stop.

So if Gareth says to put a stop loss, why not put a stop win?
That's what I do, but per table. I've said it often, I close the table with a >30% profit and open a new one.

Good Luck
 
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Wed Jan 16, 2013, 02:52 PM
(#10)
iggyo's Avatar
Since: Jul 2010
Posts: 171
Quote:
Originally Posted by Sandtrap777 View Post
So if Gareth says to put a stop loss, why not put a stop win?
That's what I do, but per table. I've said it often, I close the table with a >30% profit and open a new one.
Hi 'trap,

I find this quite interesting. I've been zooming quite a bit these days and find I am spinning my wheels sometimes... a lot of the time. When starting out at a table, I buy-in for 100bb and play tight. As my stack grows, I tend to open my range a bit. This invariable leads to some questionable play on my part and my stack suffers. Then it becomes increasingly more difficult to tighten up again and occasionally lose a big pot, bringing me back to where I started (or worse). I had been always against leaving when I'm up and then starting a new session. But perhaps now, I should reconsider...

Thanks for the insight.

Lester


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Wed Jan 16, 2013, 04:33 PM
(#11)
Grade b's Avatar
Since: Jun 2010
Posts: 3,604
TY Sandtrap,

I had read (in your blog?) about the stop win and i do use that my self.

I had read a bit about stop loss before I put the question up and was umming and erring a bit about it. One of the disadvantages is that you may have to leave a juicy table where you have taken some bad beats (but as you say have played good poker)

I think for me at the moment its a good idea as I tend to try to claw back my losses to get back to 0 or up.

This in its self is something I've noted and am trying to stop.

I think as I mature as a player I'll be able to remove the need for a stop loss and be able to review my own play for a session and stop for the day if I've played poorly and continue if I'm just getting bad beats.

Grade b


I am always ready to learn although I do not always like being taught. ~Winston Churchill

13 Time Bracelet Winner


 

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