Cash Out Curse
I have logged as many hours at online poker rooms as anyone over the last eight years.' I've played on almost every site, and feel I have a strong grasp on the ever-evolving online poker market.
With that knowledge, I do not feel that any of the major sites "pull the plug" on a player after a cash out. Instead, I have found that cashing out creates two different barriers to overcome.
The first is a psychological barrier, one in that the player inadvertently creates for himself or herself.' This barrier results from the player putting more pressure on their self to win; as recent success may have skewed how much the player expects to make per hour/day/week etc.
The Second barrier is one that is strictly mathematical.' Playing at your given limits on a regular basis, you are used to the swings that occur to your bankroll'however, after a cash out, even though you have been used to the swings, you have not been used to them with your now smaller bankroll on the site.' This creates larger percentage swings in your bankroll, which you may not have been as prepared to handle.
All in all, the cash out curse is nothing more than something we create in our heads. Manage your bankroll the same as usual and you should never experience these dreaded streaks of bad performance.
Brett Jungblut
note by gank: this article appeared in Bluff Magazine.
Rebuilding Your Confidence
We've all heard people talking about a bad streak that they have had, or about how brutal poker can be sometimes. Often, they'll say they had been killing a game for a long time, only to run into a neverending string of "bad beats." Some of these guys do not let up, let alone take a step back, take a deep breath, and reevaluate their position. You see, at this point, they've probably taken a substantial hit to their bankrolls, but it isn't their bankrolls they need to begin rebuilding; it's their confidence. They may be playing in a beatable game, but it's probably only beatable when they are playing at their best; something that is hard to do after a long losing streak.
So how do you rebuild confidence? It's actually easier than you might think. The first and most important part is to be able to recognize when your game is off. Keep track of your sessions, not just if you won or lost, but also how well you feel you played. If you find that you have been making an abnormal number of mistakes, or have had a bunch of losses in a row, then it is time to boost your confidence. To do this, all you need to do is win. And to do that, you need to play in games that you know you will dominate, even if you have to move down a few levels. It's at these levels that you will find it much easier to get back into the swing of things. Feel what it is like to dominate the table again! You don't have to spend a long time in the lower levels, just until you have some good momentum, and then go back and give it another shot.
Remember, playing good poker is more than just bankroll management, it includes skill management (understanding where your skill level fits in the bigger picture), and confidence management. If you are able to get a grasp on all three, you'll be a very dangerous player, virtually destroying every game you play in, because you are always going to be playing a game that you feel you can dominate, while minimizing the other risks and pitfalls your opponents may fall into.
Brett Jungblut