Be a Sit and Go Mutual Fund Manager
Successful online single players realize that one of the biggest hurdles to their success was to learn how to properly manage their bankroll, while at the same time building their skills.
It's an often hard lesson to learn and for most of us tested our resolve time and time again, until really understanding and role management sunk in deeply enough to have an impact on our game.
But managing a bankroll doesn't necessarily come naturally when it comes to online poker.
The fun and excitement of it all tends to get minds a wondering, and hopes a leaping, even for the most conservative of characters.
Maybe though, we should think of ourselves as more conservative characters, like the blue suits who manage money every day as a way of life.
Can we not take some lessons from market players who manage millions of dollars? Think of yourself as an investment banker or mutual fund manager.
Those professionals will only use a small portion of the money they manage and put it into higher risk opportunities.
That doesn't mean high risk opportunities, it means managing investments properly with an inherent amount of risk and reward scenarios thoroughly analyzed.
They manage for long-term, annual returns.
If you take this further and think about it, if you've ever seen a wildly high return percentage advertised for a mutual fund like 33% or something like that, then you pretty much know it was a fluke and that there is likely no way that fund is going to repeat that percentage the following year.
You don't trust it.
The same should be said for a poker player who makes it big early on in his online endeavours.
You can't trust him to repeat it - because you know it is a fluke.
He is a fish, burning to give it back.
There are bankroll management programs available online some of them free that can help you to this end.
Using one of them can make your thinking process much more professional in terms of how you handle your online poker accounts.
How often do you think a mutual fund manager says things like, let's let the whole thing right on this one stock I got a good feeling.
I'm feeling really lucky about this stock, let's go for it.
Let's just try and double up or get the heck out of its business.
Let's move up because what we're doing so far isn't working.
If the sound familiar you might not need a new poker book as much as you need an investment manual.
It's an often hard lesson to learn and for most of us tested our resolve time and time again, until really understanding and role management sunk in deeply enough to have an impact on our game.
But managing a bankroll doesn't necessarily come naturally when it comes to online poker.
The fun and excitement of it all tends to get minds a wondering, and hopes a leaping, even for the most conservative of characters.
Maybe though, we should think of ourselves as more conservative characters, like the blue suits who manage money every day as a way of life.
Can we not take some lessons from market players who manage millions of dollars? Think of yourself as an investment banker or mutual fund manager.
Those professionals will only use a small portion of the money they manage and put it into higher risk opportunities.
That doesn't mean high risk opportunities, it means managing investments properly with an inherent amount of risk and reward scenarios thoroughly analyzed.
They manage for long-term, annual returns.
If you take this further and think about it, if you've ever seen a wildly high return percentage advertised for a mutual fund like 33% or something like that, then you pretty much know it was a fluke and that there is likely no way that fund is going to repeat that percentage the following year.
You don't trust it.
The same should be said for a poker player who makes it big early on in his online endeavours.
You can't trust him to repeat it - because you know it is a fluke.
He is a fish, burning to give it back.
There are bankroll management programs available online some of them free that can help you to this end.
Using one of them can make your thinking process much more professional in terms of how you handle your online poker accounts.
How often do you think a mutual fund manager says things like, let's let the whole thing right on this one stock I got a good feeling.
I'm feeling really lucky about this stock, let's go for it.
Let's just try and double up or get the heck out of its business.
Let's move up because what we're doing so far isn't working.
If the sound familiar you might not need a new poker book as much as you need an investment manual.