Some people argue that variance is your biggest enemy because it can literally mentally tear your apart and prevent you from fulfilling your potential as a player… and these people are partly right also. The fact of the matter is that variance is your biggest friend and your biggest enemy in equal measure and is a real Jekyll and Hyde.
So getting back to the sliding scale of earn rates that we looked at then we can also use a sliding scale when it comes to being able to mentally accept variance. It is very unlikely that you and any poker coach that you team up with will have the same attitude to risk. But remember that someone is trying to impart knowledge onto someone who has already fully evolved as a human being and nearly all of what they bring to the table has already been pre-programmed from earlier life.
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So it is quite possible that you may not even be able to psychologically accept the variance that is inherent in the style of play being taught to you. I strongly recommend to anyone to read books on financial trading because of their close similarities with online poker. In one of my books there is the true story of Victor Sperandeo, one of the most well-known and famous traders in the world and the author of Trader Vic: Methods of a Wall Street Master.
In another book called The New Market Wizards Sperandeo related the story of the time that he took 38 trainees under his wing… this by the way is a guy who has made untold millions trading stocks and shares. He taught them his trading systems and methods to the letter until they knew what he knew… five made money out of thirty eight and it is even difficult to know what the remaining five did long term.
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This is the problem with following other peoples methods… they are not your methods and because they are not your methods then when the going gets tough and you are relied upon to depend on the information given to you then it fails simply because you are doubting what has been taught to you and this is because of negative variance which ultimately messes with your mind. If a style that has been taught to you carries with it a buy-in downswing possibility then what if you cannot mentally accept it?
- Notes from an anti-coach – Kirsten de Bouter.
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