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"Knowledge without discipline is wasted, and talent without knowledge is merely unrealized potential."

  Lou Krieger


 

 

The Quotable Lou Krieger

In poker, as in life, intuition can be a valuable attribute, but temper it with thought and logic. And don't follow it blindly. If you persist in doing so, magicians will fool you, con men will swindle you, and good poker players will take your money.

Not only is poker good for you, it's the American way - where winners play fair, have the right stuff, and nothing else matters - except, perhaps, a bit of luck every now and then.

There's opportunity in poker…If Horace Greeley were alive today, his advice wouldn't be "Go West, young man, and grow up with the country." Instead, he'd point to that deck of cards on table and say, "Shuffle up and deal."

I'm a poker player. Some might call me a gambler, but I draw a distinction. A gambler plays even when the odds are immutable and against him. I don't. That's why there is a large coterie of professional poker players, but not a single, solitary, professional roulette or craps player.

In poker, good players win and poor players lose.

Poker is a microcosm of all we admire and disdain about capitalism and democracy. It can be rough-hewn or polished, warm or cold, charitable and caring, or hard and impersonal, fickle and elusive, but ultimately it is fair, and right, and just.

I believe in poker the way I believe in the American Dream. Poker is good for you. It enriches the soul, sharpens the intellect, heals the spirit, and - when played well, nourishes the wallet.

Some 250 years ago, Jonathan Swift said, "Satire is a sort of glass wherein beholders do generally discover everybody's face but their own." The analogy also holds true for losing poker players. They see flaws in everyone's play but their own.

Most of the money you'll win at poker comes not from the brilliance of your own play, but from the ineptitude of your opponents.

In poker, position means power. It is always advantageous to act after you've had the benefit of seeing what your opponents do.

I believe the single most important decision in any form of poker is game selection; determining which cards to enter a hand with runs a close second.

Whenever you're inclined to call a bet, ask yourself this: Instead of calling, is it better to raise or would folding be the best decision? Many players look for reasons to call. While calling can be almost automatic in certain situations, raising or folding is frequently a better choice.

You will succumb to all your flaws as a poker player during the period you are struggling, growing and reaching for a higher level of skill. Just because you've read all the books by all the experts, don't deceive yourself into believing that you're going to play as well as they do.The best poker books will teach you how to talk the talk. You'll have to learn to walk the walk on your own!

You have it in your power to turn a bad beat around simply by realizing this simple truth: The more bad beats you encounter, the luckier you are. It's a sign that you are playing against opponents who continually take the worst of it, and if you can't beat someone who always takes the worst of it, you can't beat anyone.

If you are not a winning player, your bankroll will never be large enough. To completely eliminate the possibilities of ever going broke, losing players need a big enough bankroll to outlast their life expectancy.

A professional poker player should realize that every dollar he wins will not be added to his bankroll. After all, he has to pay rent and buy groceries just like anyone else. Reducing one's bankroll converts capital into income - and the distinction is an important one. Change too much capital into income and you've eaten your seed corn.

Limit poker is like a job. As long as you're a winning player, the more hours you put in, the more money you'll earn.

Forget about money management. Forget about quitting when you're ahead or quitting once you've lost some predetermined amount of money. If the game is good and you're ahead, why not keep playing? Chances are you'll win even more money. If you're losing, but haven't let your losses get the better of your emotions and you're still making good decisions at the table, there is absolutely no reason to quit. On the other hand, if the game is bad you should quit or look for a softer game regardless of whether you're winning or losing.

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