M6 Labs
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M6 Labs

Pocket Apes: How my poker skills have helped me navigate the calamitous landscape of crypto investing

Lessons in the cards

  • You can do everything exactly right and still lose sometimes. In poker, this is programmed into the entire poker economy. Good players wouldn’t have any opponents if bad players didn’t show up and get lucky once in a while.
  • Don’t play games you can’t afford to lose 20 times in a row. Or 100 times, depending on the circumstances. Gauging your risk of going broke while you attempt to withstand the variance of poker or, say, high-volatility assets means you can survive long enough to see the upside.
  • Start where you’re at. Learning to adjust your risk or position size as your bankroll expands and contracts is essential to long-term survival. Developing the self-control to move down in stakes after a particularly brutal downswing is a skill that’s helped me stay sane and cozy in the crypto world.
  • Scared money don’t make money. The optimal poker strategy is usually to apply pressure and play aggressively. If you’re not adequately bankrolled to be making appropriately courageous and daring plays, then you’re not playing optimally, and you’re decreasing your chances of capturing the highest upside. Also, your opponents will quickly detect this fear and exploit it.
  • Sometimes, just ‘surviving a little longer’ can be more valuable than chasing action. This is a big one. To win a poker tournament, you have to get every last chip. There are instances where you and your average-sized chip stack can benefit significantly from just surviving while the big stacks are busy battling. This also applies to the more PvP trading environments that often become a game of chicken between retail investors and whales.
  • If you have most of the chips in play, you can bully the whole table. Being able to recognize when you’re in this fortunate position and take full advantage is a standard poker strategy that has obvious parallels in the crypto world. If you control the majority of the supply of a token, you basically get to decide how high the market price can go.
  • Winning never feels as good as losing feels bad. Humans have this weird glitch: whenever we take a risk to ‘win’ something, we feel like we deserved to win the whole time, so when it happens, we’re just not that surprised.
  • Players who study efficiently, study the most, and effectively apply what they’ve learned will crush everyone else. No explanation is needed here; this lesson has many parallels in other aspects of our lives.

The Family Business

The Bright Idea

Time To Step It Up

More Than Math

  • You’ve been losing all day, so you start playing more reckless and aggressive to try to fight your way back to even.
  • At your current stakes, you lose ten buy-ins and decide to play 10x higher limits to get your buy-ins back (this kills most new players).
  • Your opponents have been verbally abusing you for hours because you’ve been playing really bad, so you try to bully them with even worse plays to ‘teach them a lesson’ (those opponents are jerks, and they shouldn’t be scaring away the easy money, and in this instance, you’d be wise to focus on playing a less exploitable strategy).
Source: Quoteinspector.com

Thanks for all the chips

Source: viajando.com

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