Step 4: Managing Your Emotions
“More money is lost by players who know what the right thing to do is, but don’t do it, than for any other reason.” – Ken Warren – author of The Big Book of Poker
“Investing is not a game where the guy with the 160 IQ beats the guy with the 130 IQ. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.” – Warren Buffett
Texas Hold’em players and investors generally lose money for two main reasons.
The first is that they do not take the time to acquire the necessary skills and conduct the necessary planning before beginning to put their money at risk.
The second is that their emotions overcome the good decision-making skills and plans that they have acquired.
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