How do you cope with losses?

[JohnCrover]

We have all felt the bitter pain of defeat at one point or another in our "careers. " Whether or not that has been losing our first thousand when starting out or enduring a painful loss after the 200th hour of a down swing .
I was planning on posting this thread a few hours ago, when I was up 1800 on the casino I'm playing right now but now I'm only up 400 after expenses, after enduring some brutal losses. Lessons have been learnt today, but that's beyond the point.
How do you keep yourself fighting? It's hard for me sometimes, watching my hopes and dreams crumble before my eyes, sometimes slowly, sometimes quick and devastating but I keep fighting knowing that light is on the other side of that dark tunnel. I'm proud to say that I don't feel pain for my loss today.
What are some times you were down but kept fighting and what Kept you fighting?

 

[Ryemo]

First of all, sounds like you’re still up? $400 right? If so, that wouldn’t be considered a loss lol.

Anyway man, this is part of the game. It’s a volatile game and losing can go on for hundreds of hours. The more you play and the more your stakes grow, you eventually become numb to the swings for the most part.

Lastly, you said: “lessons have been learnt today.” I hope that lesson isn’t to quit while you’re ahead? Because you need to be thinking in terms of EV vs AV (Actual Value).

 

[Hell'nBack]

The more hours you invest in quality games, the more profit generated. Provided you have the edge.

 

[21forme]

It's usually a mistake to keep playing to recoup losses. First, if it's a place you regularly play, it's good to book a loss. Second, if you are in tilt mode, trying to recoup, your guard is down, you are probably overstaying your welcome, and you're much more likely to get backed-off.

While losing isn't fun, it's part of the game. Understand the math, including variance.

 

[JohnCrover]

First of all, sounds like you’re still up? $400 right? If so, that wouldn’t be considered a loss lol.

Anyway man, this is part of the game. It’s a volatile game and losing can go on for hundreds of hours. The more you play and the more your stakes grow, you eventually become numb to the swings for the most part.

Lastly, you said: “lessons have been learnt today.” I hope that lesson isn’t to quit while you’re ahead? Because you need to be thinking in terms of EV vs AV (Actual Value).

That's not the lesson I learnt. It's too not play games that are too big for me. There's a game I have been playing that's super high EV but it plays very big so I can't play it. I have to settle for the lower EV option. With my bank roll so small and fragile right now it's still possible I go broke so it's rough watching it happen. I have just gotten to the point to where I want to go to a BJ table, hook myself up to a catheter and just play until I make 100 thousand or bust but I know that isn't practical.

 

[JJP]

This is a great thread. It's easy just to say "I've got an advantage of xx, so I'll just keep plodding thru." And in the meantime, you get your brains beat in worse. We are not robots. In my own gambling life, which consists more of sports and horses, but BJ in the past year, I found I never "chased" losses from a previous day or week. However, there were days when I may have "chased" a bit from losses earlier in the day. Some days it just isn't gonna happen. I believe that we have our best days with a fresh mind and positive attitude. It's not always easy to decide to walk out the door but some days it is absolutely the right thing do, IMO.

 

[KewlJ]

Anyway man, this is part of the game. It’s a volatile game and losing can go on for hundreds of hours. The more you play and the more your stakes grow, you eventually become numb to the swings for the most part.

...Because you need to be thinking in terms of EV vs AV (Actual Value).

While losing isn't fun, it's part of the game. Understand the math, including variance.

I thought about replying to the OP yesterday, but didn't. I am glad I waited. Ryemo and 21forme did far better (and shorter) that I would have done. Bravo gents!

I will add that there is no short cut. You have to really understand the math and variance and then experience the swings a few times and then if properly bankrolled, you do indeed become numb to the swings and variance. Think long-term. Think EV.

 

[JohnCrover]

It's rough right now because the only game I have to play is in fact a very good game but it's 15 dollar minimum and that's very high for me if my Max bet is two spots of 90 for a 12 to 1 spread. I have been contemplating wonging in at TC 1 and playing the game as if it was a 5 dollar table. Maybe I will do that.

 

[mcallister3200]

Definitely tough out there for a low stakes beginner now in most places. Card counting swings are kinda like a box of chocolates, sometimes it’s sweet and pretty awesome and sometimes you bite into that nasty raspberry coconut mint beast and no matter how many awesome chocolates come afterwards it takes several hours (or days/weeks sometimes) to wash that raspberry coconut mint garbage out.

 

[KewlJ]

Definitely tough out there for a low stakes beginner now in most places. Card counting swings are kinda like a box of chocolates, sometimes it’s sweet and pretty awesome and sometimes you bite into that nasty raspberry coconut mint beast and no matter how many awesome chocolates come afterwards it takes several hours (or days/weeks sometimes) to wash that raspberry coconut mint garbage out.

Ok, Forrest.

 

[hitthat16]

I used to be “afraid” of losing so I would leave the casino after small wins in order to put it in the books and make myself and my wife happy.

What happened was my records showed many small wins along with a couple of big losses. My overall win rate per 100 rounds stayed the same. Now I go for time played rather than hoping for a win.

My point is that losses are going to happen and your win rate will be what it is over the long term regardless of short term results. I learned to cope with losing by accepting “small” losses in a session rather than trying to dig myself out of the hole.