We are now carrying 7 swing trades and 3 insider trades. Today boost in the markets has given us a nice recovery from Mondays carnage. Right now there is only 1 of the 7 that might exit before the close. I will update if I exit.
As most of you that have read the blog for awhile know one of the drawbacks of playing live poker is the unpleasant personality types that frequent the poker rooms from time to time.
The gambling environment not only attracts the intellectual types but also attracts the dysfunctional personality types from mild to the extreme. How you deal with the different dysfunctional behavioral problems at the table pretty much will determine how good your poker playing experience is.
The best approach that I have found is to put on the headphones and ignore what is going on around you. In other words tune it out. Other wise it will take its toll.
Sometimes however you cannot do that. Once your the target sometimes its very difficult to ignore. I have had several occasions where I lost my tempter…one of the recent ones where I had raised on the end and the one of the players at the table told the other player to put his hand in the muck since there was no way he was beating my hand! I lost my tempter and which resulted in a 5 min arguing match with the floor coming over and making the brilliant observation that there was a history between us:)
I like to pride myself at being able to ignore the mayhem that sometimes goes around the table. How bad can it get? A few weeks ago a player made the comment to the person next to him…loud enough so that I could hear…” Hitler had the right idea” I ignored it…but it took every once of effort. Especially since this was a local I have been playing with for almost 10 years now.
People that are that dysfunctional are looking for turmoil. Bullys come in all shapes and sizes and most have the common denominator of a very low self esteem. They are not normal and thus normal reasoning is not possible.
So headphones and focus on the task at hand….playing good.
On a brighter note here are some quotes from a new book that has just come out:
“Your Money and your Brain” by Jason Zweig
“One of the clearest signals that you are wrong about an investment is having the hunch that you are right about it.”
“Most of what seem to be patterns in stock prices are just random variations.”
“Investing is not you versus “Them”. It’s you versus you.”
“Ignorance of our own ignorance haunts our financial judgments.”
“Many of the world’s best investors have mastered the art of treating their own feelings as reverse indicators. Excitement becomes a cue that it’s time to consider selling, while fear tells them that it may be time to buy.”
“Chance favors the prepared mind.”
These apply equally to poker.