Joined: 03 May 2008
Location: Livin' in SinCity!
Tip 4/12- Stay tuned for more....
4. What you've already invested doesn't matter.
Too many poker players damage their bankrolls by calculating how much they personally "invested" in the pot before making their best decision; fold or stay in.
Don't do that!
The pot, money you're competing for, is simply there. It doesn't matter where it came from or how much of it you invested.
It wouldn't matter whether it had originally been all yours or whether the players just happened to find it forgotten on the table.
The pot belongs to no one right now.
Same in life. It doesn't matter how much money, how much time, how much effort you have invested. Say you purchased land for $50,000. One morning you wake up and it's only worth $25,000. That same day, someone offers you $40,000. You should accept this offer, because you're not losing $10,000, you're gaining $15,000.
That's because what it used to be worth doesn't matter, and what you've invested doesn't matter. You don't need to win on this investment.
The trick is to make winning decisions again and again and let lifelong success take care of itself.
You can get $40,000 by selling. Selling is the right decision, and it has value--in this case, $15,000.
SUMMARY: DON'T THINK ABOUT MEANINGLESS ONE-POT INVESTMENTS, STAY ON TRACK MAKING THE BEST DECISION, WHICH IS ALWAYS PROFIT- NOT CARDS OR HANDS, BUT PROFITS.
Stay tuned for more great money/life winning strategy....