There's an old saying that reads, "To thine own self be true." This is a must in poker because we need to evaluate ourselves on a daily basis to succeed. There are two key issues we must confront honestly. The first is money management, or our lack of it, and the next is our poker skill level.
When it comes to handling their bankroll, most players don't have a plan to follow and consequently lose sight of how much they've bought in for, so they don't feel guilty. They lie to themselves and others until the lie becomes the truth in their mind. Success at poker requires a plan for the short and long term, and it must be based on sound and honest business principles.
I started playing poker in Gardena California in 1958. I wasn't true to myself back in the day, so no matter how much I bought in for, I always rounded it out to "I'm about even." I was dishonest with myself and problems surfaced whenever I couldn't pay my bills or scrape up the money for a buy-in. It took me a long time to learn to separate my house and real-world money from my poker bankroll, and I felt pretty stupid to have to admit that at the time. It was one of the smartest things I ever did for my poker education.
Players with substantial resources have the worst problem because if they deceive themselves, they don't realize the damage until the losses are huge! This can trigger depression and all sorts of problems that follow you like the proverbial monkey on your back. Remember, it's your own dishonesty that keeps it there. I've seen gamblers go down like this and it's not a pretty picture.
Another area that requires honesty is determining whether or not you are a serious player. If you're not, then you shouldn't be spending serious money. There's nothing wrong with poker as a hobby, just be realistic and spend accordingly.
Discipline's first step is honesty. We have to stop lying to ourselves and that's not always easy. For starters, be realistic and don't kid yourself into thinking you're a winner. Keep a small note- book with you and write down all your expenses for each day. When you cash out, log the amount and compare your totals. This is how you get an exact picture of what you're doing in the felt jungle, and over the long run it will tell you whether you're the predator or the prey.
While you are playing, remind yourself that chips represent real money so you don't get too careless. If necessary, ask yourself what your family would say if they saw you disrespect money.
The best way to avoid buying chips excessively is to bring only what you budget. Yes, budget! In other activities you have protective devices that protect you from injury. In sports helmets and pads can protect you from harm. Keeping to a strict budget is the one protective device you must have in poker.
Once you have come to grips with improving your money management skills, you can start evaluating your performance. Is your game strong enough for the level you're playing? You need to be absolutely honest with yourself and forget your ego. The truth may hurt, but it's where you have to start.
