Tuesday, March 27, 2012

Texas Holdem (Ways To Lose Your Money Other Than Playing Stocks)

This is my favourite card game, and the only game I would play when I am at a casino, which meant that I do not frequent the casinos in Malaysia and Singapore. They do not have Texas Holdem for players only (the Carribean and other versions are stupid odds-favouring the casino bullshit games) because its a low yielding game. Money basically changes hands among the players themselves and the house just takes a cut after every hand. Too small for the casinos in Malaysia and Singapore apparently.

I don't undrestand that because the biggest gaming place is Macau and Texas Holdem is very big there as in everywhere else.Most people like poker, but nothing can compare to Texas Holdem because of the various possibilities. Many people who play like to think they are good players, me included (lol), just like many people who invest in stockmarkets like to think they are better than the average (again, wrong). To make money in stockmarkets you NOT only have to be better than 50% of the players. You have to be in the top 20% because only 20% or so really make money over the long run, the other 80% will eventually lose - want to know why, come to the seminar on 14 April and remind me to tell you.

Anyway, back to the game, got nothing to write about the local markets for the past many weeks cause its a punting penny stocks phase. If I write, then I am becoming too speculative, so better not to write anything. Only thing worth writing about, which I have written already, is plantations. I think if you stick to second tier plantations, you should be getting 30%-50% return if you hold for rest of the year (i.e. NOT IOI Corp, Sime Darby, UM,  ... go for those I did not mention).

I like the game because its not about cards or what you have, most games end up not having to flip over any cards, so I don't know why people are so enamoured over what two cards they have in the first place. The first video is the great Johnny Chan, why, he shows us clearly never to fall in love with high pairs. Be them aces, kings, queens ... many people will never get away from them. The flop shows 6, J, J .... and you have two players in as well. Chances are high that at least someone will "decent high cards", i.e. J (one out of 4 cards in the other two persons).. not to mention anyone having a solo 6 to boot, your pocket Aces is almost worthless after the flop. But how many will still keep playing them with gusto, and wondering why they lost.

Play the players and your math skills. People wondered why they never make a lot of money when they have big cards, they curse when they get small pots when they have high pairs ... then that person does not understand and appreciate the game that well. Big pots has to do with somebody else having a hand and the flop has to be open and having some thing for everyone.

Among the current crop of players I really like is Tom Dwan, he is young and has balls of steel. Watch how he plays in a CASH game. He never needs to have the best hand. His skill is trying to make others think you have the ultimate best hand. After the K came out on the turn, his cards does not matter anymore. All Tom is doing is making the other person think he has the best hand. Maybe it does not work all the time because the ultimate best hand usually only happens 1 in 10 hands. But you still need balls of steel.

Because in a hand, when Phil Laak has the K pair, he can be beat by trips 5s, hidden pairs of 3s, or trips Qs.

Which is why, if you want to master the game (you will never, btw) instead of watching great wins, study the great folds. Ask yourself, would you have folded if you held those hands.