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If you cannot convert your knowledge base into practical know-how at the table, you are running on emotions, going on tilt or already there, and heading for another in a series of losing sessions. It’s not a pretty picture. But only you establish control over your self and your game — and to accomplish this you must fight to force your emotions into the background and bring your reservoir of knowledge where it belongs, firmly in the forefront of your mind, where you can tap into it as needed.
Fighting through your emotions so you can play with a cool head may be the single hardest thing you’ll ever have to do to become a winning poker player. If that particular yoke is draped around your neck, you can either exert the Herculean effort required to remove it, or give in. It’s tough, but it’s decidedly not a Hobson’s choice. The work is hard but your efforts will bear fruit. Your game will grow from it and so will you. Giving in is easy. All that’s needed is to continue down the same old road. It’s easy, but the consequences are raw, hard, and unforgiving — and all you’ll have to look forward to is the sight of your bankroll bleeding away.
About a week later, Betty announced that she had found a matching bracelet. "You won't believe this, Mike," she gushed, addressing me even though her comments were really intended for Benny nearby, "but it matches perfectly. You could think it was a set."
So, yeah, you're right, Benny goes down to the jewelry place and gets her the bracelet. Another $5,000 hit on his bankroll. Now he little more than $1,000 to play on and his poker game is in shambles. Fear on ever call. Missed bets because he worries about going broke. Every hand an agony. On the night that Benny goes broke, he gets ahead about $200, then hardly wins another pot.
And Betty tells him, walking together off the poker floor, "You don't know how to manage your money. I would have quit when I was $200 ahead." I told you what she was, right?
THE LESSON.
I saw Benny a few times after that, and then I didn't anymore. He came, he played. He had lost his spirit, and he had lost Betty, too. What can we learn from this? Something very important, my friend. If you want to play poker for a living, then your bankroll is not money that you can spend. Your bankroll needs to be kept separately. Your bankroll isn't designed to buy necklaces, or to buy video cassette recorders, or even to pay the rent. Your bankroll is a machine that makes money. Once that bankroll is whole, once it is so large that that you can count on it to do it's job and even to survive a very long losing streak, then you can siphon off the profit. And this -- only this -- you can spend, because this is the benefit of your bankroll.
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