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Psychology Of Gambling


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This morning better

Still not great but I still managed to win.

Because I didn't lose yesterday I can move forward today.

To quote Oz:

I only average just 2 -3 units per shoe. In reality all you need to do is win just 1 unit per shoe and it is just a matter of time until your unit size will increase to where mine is -  at $5000 per hand' 

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Imagine what that guy had to go through to invent that

Have you ever watched 'The Prestige'

Its a little about Edison and Tesla

By the look of it Tesla got screwed

He was actually a genius who was shut down by everyone

The portrayed him as a crackpot and AC energy as dangerous when in fact DC at the same voltage is just as dangerous

I feel they wanted him gone so Edison could be promoted.

The world could have been advanced in energy hugely if they had let him keep going

 

 

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FEAR.......The fear of losing.......can create the fear of winning.....which paralyzes you into exactly the thing you don't want to......losing.  

It's easy to fear the next hand.  What will it be? Did I make the right decision? Should I have made opposite of the decision I just made? What happens if I lose? Is this a good strategy I am using?  The list goes on and on, but what is it really?  It's called fear.  The sooner you accept the next hand is going to do exactly what it does and you have no control over it AT ALL and you remain CALM, the better you will be able to see what the shoe is doing and isn't doing.  

Fear, anxiety and the worst of all....PANIC... has nothing to do with the casino, the shoe, the dealers or pit boss.  It has everything to do with your own emotional control.  I have been there and done that, so it isn't something that I haven't experienced.  

It had nothing to do with the game, it has everything to do with me.  So, I had to learn how to beat those destructive emotions and behavior.  Things like breath control....the simple......slowly breathe in and slowly breathe out.  Heart rate.....fear definitely elevates your heart rate...how do I slow it down?  Recognize it and know you need to relax and calm down.....by doing exactly that.  

Two great movies to watch "Apollo 13"  and "The Right Stuff".   A huge part of their training was how to remain calm, even when staring into the face of impending disaster.  Not just the astronauts but the ground crew also.  Watch what happens in the "The Right Stuff" when panic sets it and what takes place as a result of it.  Watch what happens in Apollo 13 when they decide to take that one opportunity against overwhelming odds to get back to earth safely and they remain calm about it to execute it to perfection.   Everyone was afraid......but...they had already learned to calm themselves to have a clear mind to do what they must.  

I can tell you as a certified rescue scuba diver, the one thing that causes more accidents, injuries and death in, on, or under the water is PANIC.  

Simply ask yourself, getting filled with fear, anxiety, worry and panic.......did it change the outcome of the hand just dealt?  Of course it didn't.  Did all that stress, uncertainty, and mindless praying change the outcome of the last hand dealt?  Of course it didn't.  Whatever it takes for you to relax, and be calm.......is well worth it and you will definitely see the benefits of doing so.  

Just like anything else......it takes practice and hard work to do so.  It's a large part of the "Right Stuff".....

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On 4/4/2016 at 9:00 AM, William Looi said:

One of the lesson I have truly  learn is accept lost and losing season. do not chase lost with progression, and once lost to our  lost limit stop and go take rest come back other day.. Never play too long hours example 5 hours 10 hours or whole day no rest. 

Looi, you sound like a traditional Asian Baccarat  player, that's really good for you if you did recognize when to stop and when to proceed. This is a very important trait that seperate a gambler and a professional cards player.

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On 6/30/2016 at 11:30 AM, avion said:

FEAR.......The fear of losing.......can create the fear of winning.....which paralyzes you into exactly the thing you don't want to......losing.  

It's easy to fear the next hand.  What will it be? Did I make the right decision? Should I have made opposite of the decision I just made? What happens if I lose? Is this a good strategy I am using?  The list goes on and on, but what is it really?  It's called fear.  The sooner you accept the next hand is going to do exactly what it does and you have no control over it AT ALL and you remain CALM, the better you will be able to see what the shoe is doing and isn't doing.  

Fear, anxiety and the worst of all....PANIC... has nothing to do with the casino, the shoe, the dealers or pit boss.  It has everything to do with your own emotional control.  I have been there and done that, so it isn't something that I haven't experienced.  

It had nothing to do with the game, it has everything to do with me.  So, I had to learn how to beat those destructive emotions and behavior.  Things like breath control....the simple......slowly breathe in and slowly breathe out.  Heart rate.....fear definitely elevates your heart rate...how do I slow it down?  Recognize it and know you need to relax and calm down.....by doing exactly that.  

Two great movies to watch "Apollo 13"  and "The Right Stuff".   A huge part of their training was how to remain calm, even when staring into the face of impending disaster.  Not just the astronauts but the ground crew also.  Watch what happens in the "The Right Stuff" when panic sets it and what takes place as a result of it.  Watch what happens in Apollo 13 when they decide to take that one opportunity against overwhelming odds to get back to earth safely and they remain calm about it to execute it to perfection.   Everyone was afraid......but...they had already learned to calm themselves to have a clear mind to do what they must.  

I can tell you as a certified rescue scuba diver, the one thing that causes more accidents, injuries and death in, on, or under the water is PANIC.  

Simply ask yourself, getting filled with fear, anxiety, worry and panic.......did it change the outcome of the hand just dealt?  Of course it didn't.  Did all that stress, uncertainty, and mindless praying change the outcome of the last hand dealt?  Of course it didn't.  Whatever it takes for you to relax, and be calm.......is well worth it and you will definitely see the benefits of doing so.  

Just like anything else......it takes practice and hard work to do so.  It's a large part of the "Right Stuff".....

very well said Avion. When in fear you're already self defeated even before the game begin. Win or Lose, stay concentrated, move on and think of the next hand.

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Persistence and Perseverance........

It's easy to have a dream.  Dreams come true for those who work at making dreams come true.  One day it happens and you want to make your dream come true.  So you start working at it, and quickly realize....this isn't going to be easy.  This is actually more difficult than I realized.  That realization is when a lot of people quit and give up on their dreams.  It is just too demanding of my time, it drains me mentally, emotionally I just can't take it.  There are just too many things to learn, it is overwhelming.  I have failed.

That is exactly the place you want to be.  Cream rises to the top.  You are determined, you will not stop, you will go forward with a greater sense of being persistent.  You have decided to resist anything that stands in your way.  There are all kinds of examples to draw from.  Do you feel like you are looking for a "needle in the haystack"?  Great, get busy and look at every single strand of hay until you find it.  Quitting is no longer an option.  

You proceed forward in a calm, more objective, and straight to point of many things to learn.  You tried going around it, under it and over it, and it didn't work.  So now you know there is only one way, and that is straight at it and through it.  You break through every barrier that is in front of you.  You trip, and stumble, and yet you realize those trips and stumbles are trying to teach you something and you have to learn from them.  Difficulties come at you from places you could never imagine.  It matters not in your steely resolve.  

Your next step....is working at it twice as hard.  The greatest difficulty you will ever have.....is you.  No one can do it for you.......only you can when you make up your mind to persist, resist, and persevere.  

For your viewing enjoyment and inspiration the movie Eddie the Eagle.  

 

Edited by avion
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Failure......Listening.......Learning

There is a huge difference between temporary failure and permanent catastrophic failure.  I remember awhile back, a guy had done well building his bankroll up.  He then began losing consistently and continued on in the same losing pattern till everything he had won was lost.  He decided he didn't want to take the time or work it took to build himself back up again, and so he quit. While he gave quite a few reasons as to why he lost like bad luck, and that he played the same way he did as when he was winning.   He did state one thing that stayed with me....."we are taught to win, but we aren't taught what to do when we lose".  

 

Wendell Phillips stated "What is defeat? Nothing but education, nothing but the first steps to something better."  A favorite quote of mine, "lose.....but don't lose the lesson".

Failure isn't free.  Education is also not free.  When it comes to learning, be glad to pay the cost.  The only way to ensure that failure is not a bad thing is to learn from it.  Being thick headed, resistant to change, stubborn, inflexible, not listening to anyone or anything can only create the negative, destructive, permanent catastrophic failure.  

Every shoe, every decision, every bet is telling you something with each and every failure.  Can you see it, or do you become blind to it?  Are you listening, or do you refuse to hear what it is saying to you?  There is a reason the description for the education of the "school of hard knocks" was termed.  Lessons come hard and painful if you don't see them and listen to them.

Temporary failure is telling you something that needs to be observed, educated, and understood.  It's feedback, data that can be used for you, and not against you.   It is precise instructions from the greatest teacher and educator that there is.  It's trying to wake you up to teach you from the cluelessness that is present.  

THIS IS WHAT WE ARE BEING TAUGHT TO DO WHEN WE LOSE.   Embrace it.  Listen to it.  Learn from it.  

 

Edited by avion
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Michael Phelps.....the greatest gold medal winning Olympian ever.  You might not think he loses, but he was on the verge of the greatest permanent catastrophic loss that a human being could ever have.  

None of us are exempt.  No one can do it for you.  I am not preaching to anyone.  Everything I share here I have been through and I always point the finger at myself first.  It is my sincere hope, that maybe something I share, will help someone, in some way.

Worthwhile to view this....about Michael Phelps, who just won.....another gold medal......but so much more.      

 

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  • 2 weeks later...

It's important to work on your cognitive biases to. When i'm playing, I fall prey to #5 and #8 below, making a choice and not responding to new information quickly enough. Both of these have to be overcome to read what the shoe is doing and "playing in the moment."

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A great reminder from Jimbo Fisher, head coach of Florida State University after their record comeback game win from Monday night.  At one point in the game, Florida State was losing by  22 points.   

"You don't win because you want to......you win because you TRAIN TO"  

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On August 8, 2016 at 6:25 PM, avion said:

Michael Phelps.....the greatest gold medal winning Olympian ever.  You might not think he loses, but he was on the verge of the greatest permanent catastrophic loss that a human being could ever have.  

None of us are exempt.  No one can do it for you.  I am not preaching to anyone.  Everything I share here I have been through and I always point the finger at myself first.  It is my sincere hope, that maybe something I share, will help someone, in some way.

Worthwhile to view this....about Michael Phelps, who just won.....another gold medal......but so much more.      

 

I watched this all the way they. Nice video!

CT70

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