I decided to make a ‘short’ return to poker, I am not sure for how long and how it will go on this time. The last time I went back to poker when I needed some money for myself, I think I wrote about this in my journal.
This time I have enough money for myself, but I have some projects in my head which I want to make real. I’m still unsure how to realize them, but the problem is that it would be very hard to find investors for this kind of initiative. The outcome of the plans is far from certain and doesn’t promise short time interests. All-in-all a shitty business plan.
So, at least for now the plan is to raise some money by myself, then multiply it several times and then to start realize the BigPlans
. Sounds childish? We’ll see.
And as I promised to put some content into the journal, I am going to make a post on the strategy. Hopefully the readers will find it interesting and on the other hand it should please poker Gods.
New Entry:
There are two big branches of approaches to play poker. I’d call them ‘game-theoretical’ and ‘people’ approach.
Game-theoretical approach.
Everything is quite clear here, especially for the math-oriented people. As we know from the game-theory there is an optimal strategy for the poker, and if you know it no one would be able to beat you. The problem is that no one knows it for the moment and the best we can do is to construct an approximation. Second problem is that the classical Nash equilibrium approach works well for the heads-up situation, in the multiplayer situation it becomes hard to apply these principles. There can exist several types of Nash equilibrium without a smooth transition among them.
IMO game-theory is a must know for any serious poker player, as it gives some guiding principles for the construction of your strategy and evaluating the strategy of the others.
Still, game-theoretical approach doesn’t maximize your winrate in all situations, sometimes one needs to adjust to the big mistakes that our opponents make producing in turn some holes in our strategy as well, but against a weak opponent we gain more than we lose.
People approach.
If you understand the man you understand his strategy, and the reverse is true: if you understand the strategy you understand the man.
When people try to construct a complex strategy in any activity they base it on the previous experience, on their personality. Here we understand the personality as the set of guiding principles that people develop in their life. The more complex the task is the more rich representation of the personality we can see.
After formulating the principle, the important question is how we can use it in our play? The answer is simple and hard at the same time.
By looking at how someone plays we should try to reconstruct his strategy glimpsing at the small bits of it here and there. As soon as we develop the approximation of our opponent’s strategy (or of his personality) we can do better than game-theoretical approach, as the hand ranges become narrow. In many cases we can anticipate his actions and plan our response for many streets in advance. (Imagine the case of a ‘rock’ and a dry board when you have air, or the case of a ‘calling station’ and you have an overpair.) Actually every good player does this without formulating what they do, when we describe someone as a ‘calling station’ we describe their strategy.
Now we come to a hard part. How one can do this, i.e. reconstruct the strategy of the opponent? I don’t know. I suspect that no one knows.
It is really hard, you have your own strategy and your own personality. Now, you need at the same time, in a small part of your rarely used brain, construct a different personality, of someone who is very aggressive or of someone who is very shy. You need to construct a personality of someone knowledgeable or stupid, short of money or wealthy, logical or superstitious, someone who read the books of Harrington or some stupid book like ‘Poker for dummies’. There are tens, may be even thousands of parameters and you need to choose the right combination. Sometimes lacking some important elements: if you don’t know how to be a maniac how you can construct his personality and strategy?
How we do this? Once again, I don’t know. We don’t know how the human brains functions, somehow we are able to extract the relevant information, but we don’t know how.
There are some tips, though. Understanding people helps a lot. A good psychologist already can construct these small models of other people and this skill is readily transferable to the game of poker. (And it correlates well with what we know about great poker players, they are often very good in understanding people and in social interactions.) Knowing different strategies helps a lot too, if you know how rocks, calling station and maniacs play it will be easier for you to construct the corresponding strategy. So try to play different styles and construct ‘quasi-optimal’ strategy for each style, this will make easier the reconstruction of the strategy of your opponents.
P.S. These are some ideas that I had recently about poker and life in general. I hope that you find them interesting. Any feedback is appreciated.