I did promise another Vince Stanzione video and here it is. Once again I want to underline how these two fields are not just similar but they are frighteningly similar. Listen to how this guy speaks and imagine that he is talking about online poker. The very start of the video where he speaks about not doing it for excitement is highly pertinent for poker.
It is hard not to be excited when you are finally breaking through that barrier and making money. Unfortunately it then becomes a bind; even making millions gets boring (not that I would know). How can making big bucks get boring……easy and I can say it in three words……diminishing marginal utility.
If you gave a person who was very poor $50,000 then that amount of money would have a profound effect on their life. Give that same $50k to a man who already had $1 million and it is merely a “nice” bonus. Give it to a man who is worth $20 million and it wouldn’t even register. Does a person who is worth $50 million have a different lifestyle to someone who is worth $100 million? Probably not but be are talking FIFTY MILLION DOLLARS difference here!
This is the law of diminishing marginal utility and is why true happiness is not just about having money and being rich even though numerous people try to pursue happiness down those avenues. Happiness is a multi-faceted thing that can only be arrived at by numerous areas of your life being harmonised…..the financial side of your life is only one such facet. If having money was everything then rich people wouldn’t commit suicide would they?
I appear to be getting all philosophical on my blog which is actually deliberate because it is about time that I started talking about how poker is actually a microcosm of life itself. Zen philosophy teaches us how all things in the Universe are connected in some way. Listen to Stanzione when he says how much quicker losses can be achieved compared to gains…….THIS IS POKER!
Tilt and bad play can wipe out hours of work and even variance itself can wipe out hours of winning play and then tilt just puts the icing on the cake. So remember that you can be a good poker player by getting into a trading mindset and even doing a study of trading is no bad thing.
Carl “The Dean” Sampson at poker loco
