Don't Give Your Money Away

  There are a ton of mediocre poker players who have trouble moving up the food chain because they can't get over one stupid, yet obvious mistake: they throw money away left and right. One would think that separating a poker player from their chips should be difficult, but still too many players happily give away their money like they are contributing to PBS or a Jerry Lewis telethon.  The major problem with people is that we are emotional beings. Although this is wonderful in a variety of ways, it makes poker a much more difficult game to play. The major problem is that though pre-flop betting is generally an emotionally detached decision, that is based more on some sort of strategy than anything else, once we have money in the pot we feel the deep emotional need to defend it.  For example, if you have an A/J, and board shows another Ace, and you have noticed one of your opponents behaving like a cat who made a meal of the canary, before you throw a victory party, you should start thinking that you might be wandering into a trap. If this is a player you are acquainted with, and this sort of behavior tells you he probably has an A/K, the smartest thing you can do at this point is fold. Your opponent has you beat with the kicker. Unfortunately, a lot of players decide this is a good time to gamble with their money. They are already sucked in, and might as well go all the way down.  This is not a mistake made by inexperienced players only. Daniel Negreanu has more than once announced the cards his opponent had, and bet anyway knowing that he was beat. He lost his money, and only came away with the validation that his instincts were right. The problem is that he didn't listen to those instincts. If he had, he could have saved some money.