learn the POKER PRINCIPLES

Warren Buffett is one smart dude. And RICH.

He's the second richest man in the WORLD... right behind
Bill Gates. Forbes estimates that his net worth is $40
BILLION.

(How's THAT for a bankroll?)

What's interesting about Buffett is that he made his fortune
over a LONGGG period of time... by consistently beating the
stock market year after year after year.

He wasn't one of those "overnight" dot-com billionaires.

He wasn't "lucky" to be in the right place at the right
time.

He didn't "invent" some new technology that changed the
world.

Nope... all he did was invest and "pick winners" over and
over. Since taking control of Berkshire 40 years ago,
Buffett has delivered a compound annual return of 22%.

AND JUST BY DOING THAT, he became the 2nd richest man alive.

OK-- so why am I rambling on about 75-year old man who's
good at investing?

The reason is because I've realized that there are DOZENS of
important parallels between the STOCK MARKET and POKER.

Here are just a few:

* The stock market is often considered "gambling", due to
its unpredictable nature... just as POKER is often
considered gambling, even though it's a SKILL game.

* The stock market has a heavy emphasis on odds and
mathematics... just like poker.

* The stock market is predominately a male-driven
industry... just like poker.

* The stock market has PLENTY of up's and down's, and
"streaks"... just like poker.

* And so on.

Of course, these are "surface" similarities.

Now think about the PSYCHOLOGY of poker and the stock
market... and how they're often EXACTLY THE SAME:

* In the stock market, everyone dreams of buying that one
MIRACLE STOCK that will go from $2 to $200 and make them
rich...

In poker, everyone has their "pipe dream" of winning a huge
million-dollar tournament on ESPN.

* When a stock tanks, most investors FREAK OUT and
immediately make several bad investment decisions in a row.
It's usually THESE decisions that hurt them the most.

In poker, this is known as "tilt". Bad beats cause some
damage... but it's usually the decisions you make AFTER the
bad beats that cause you to lose the game.

* Believe it or not, most stock investors come out on the
LOSING END over time... even though the market has
historically gone UP year after year.

Most poker players end up losing over time also, despite all
the "fish" out there to prey on.

* And so on.

OK, so you get the idea.

Lately I've been reading a lot of books about the stock
market... and especially about Warren Buffett. (Hell, I need
somewhere to invest all these poker winnings!)

Anyway, here's what's REALLY interesting:

Warren Buffett's INVESTMENT APPROACH is almost identical to
the POKER STRATEGY I use every day.

And it's the SAME approach used by top poker pros to
consistently win tournaments and ring games...

Interesting, huh?

Of course, it makes sense when you think about it.

If poker and investing are similar, then the guys who beat
the STOCK MARKET probably use the same techniques as the
guys who win at POKER.

And who better to learn poker from than the "KING" of the
stock market... and the 2nd richest man in the world?


*** WARREN BUFFETT'S WINNING APPROACH ***


Warren Buffett operates on PRINCIPLES. He doesn't get caught
up in "hype" or emotion.

Below are the five MOST IMPORTANT principles that he
follows... and how they relate to your poker game.


PRINCIPLE 1: PATIENCE IS KEY.


Patience, patience, patience!

It's the number one mistake that causes most poker players
to lose... and it's one of the "secrets" to Buffett's 22%
annual returns.

Warren Buffett does not make an investment unless he is
absolutely 100% confident that it will make him money.

That means he PASSES UP a lot of great investment
opportunities.

Warren Buffett has said "no" to stocks that ended up
increasing by 10,000%!

But more importantly... he's passed up all those other
stocks that LOOKED GOOD, but PLUMMETED later.

The problem is, us human beings are addicted to ACTION and
MOVEMENT and EXCITEMENT. We don't want to just sit around
and WAIT.

But that's EXACTLY what Buffett does...

He waits.

And waits.

And waits.

He KNOWS that sooner or later, a GREAT opportunity will come
up... and then he'll jump on it.

It's the same way with poker.

You've GOT to be patient. We all want to "get in there" and
make strong bets... bluff out opponents... and take down
lots of pots. We want ACTION.

BUT THAT'S NOT HOW YOU DO IT.

You've got to sit back... be patient... and WAIT.

Wait for good cards.

Wait for the PERFECT time to bust the manic at the table.

Wait for the PERFECT time to steal the blinds.

Wait for the PERFECT time to bluff out an opponent.

Wait for the PERFECT time to go all-in.

And then when you DO make a move...


PRINCIPLE 2: MAINTAIN A "LOW TURNOVER" PORTFOLIO OF JUST A
FEW STOCKS.


Buffett insists on keeping 10-20% turnover with his
portfolio. This means he generally holds onto a stock for
5-10 years... AT LEAST.

This is obviously OPPOSITE of how most investors do it. Most
investors are checking the tickers every HOUR-- watching for
the slightest indication of movement or news.

More importantly... Buffett only invests in a FEW STOCKS AT
A TIME.

Now THIS is crucial, because it goes against everything
you've ever learned.

Growing up, you probably heard this advice a lot:

"Never put all your eggs in one basket."

Right?

Well, Warren Buffett does the OPPOSITE.

He puts all his eggs in one basket... but... he chooses that
basket VERY CAREFULLY!

You see, Buffett believes that if you've done your homework
and you're confident in your decision, there's NO NEED to
"diversify".

In fact, he believes this is the ONLY REAL WAY to get rich
in the stock market. Because if you buy LOTS of stocks, some
are doomed to go down... and that will hurt your gains.

Now think how this relates to poker.

In poker, most players risk money on LOTS of pots, and try
to get the best odds for each one... maybe 55%, 60%, and the
OCCASIONAL 70% or higher.

What PROFESSIONAL poker players do is only play those
OCCASIONAL pots with the best odds.

BUT, they risk more chips when they do it...

So instead of risking 20% of your chip stack five times...
you want to risk 90% of your chip stack ONE time. But you
choose that time VERY CAREFULLY!

For instance, let's say the "average" poker player enters
three pots where he feels the odds are in his favor.

The three pots go like this:

1.) He risks 1000 in chips with 60% odds.
2.) He risks 1000 in chips with 50% odds.
3.) He risks 1000 in chips with 60% odds.

Now... MATHEMATICALLY speaking... there are EIGHT different
ways these scenarios can go. They are as follows (a win is
designated with "W" and a loss with "L"):

1.) W-W-W
2.) W-W-L
3.) W-L-W
4.) W-L-L
5.) L-W-W
6.) L-W-L
7.) L-L-W
8.) L-L-L

If he wins all three, he ends up with 3000 chips in profit.

If he wins two but loses one, he ends up with just 1000
chips in profit.

If he LOSES two but wins one, he ends up with 1000 chips in
losses.

And he if loses all three, he loses 3000 chips total.

Get it?

Now let me share with you the PERCENTAGES of the above
scenarios.

Watch out, this may surprise you.

If you were to play three pots as described above and risk
1000 chips for each one, and do this exercise 100 times,
here's what would happen:

18% of the time you'd win 3,000 chips total.
42% of the time you'd win 1,000 chips total.
32% of the time you'd lose 1,000 chips total.
8% of the time you'd lose 3,000 chips total.

Your "net average" would be to PROFIT 400 CHIPS.

OK... that's the "normal" approach.

Now let's look at the WARREN BUFFETT approach.

Let's say you entered just ONE pot and risked 3000 chips
(instead of 1000) with 70% odds in your favor.

Now watch what happens:

70% of the time you'd win 3,000 chips total.
30% of the time you'd lose 3,000 chips total.

Your "net average" would be to PROFIT 1200 CHIPS.

That's TRIPLE the results over time!

The key is to get BETTER ODDS and RISK MORE.

I better interject here that I do NOT recommend being one of
those players who just sits back, waits for the "nuts", and
then goes all-in.

Not even close.

In fact, if you've read my newsletters you know that I'm a
very aggressive player who loves to push action.

The KEY is that I BUILD THIS IMAGE through techniques based
on feeler bets, positioning, and sensing weakness.

AND WHEN THE RIGHT OPPORTUNITY COMES ALONG, I RISK AS MANY
CHIPS AS I CAN!

I know that when the odds are heavily in my favor, it's time
to put my eggs in one basket and go for it...


PRINCIPLE 3: THE STOCK MARKET IS NOT ALWAYS RATIONAL OR
"EFFICIENT".


There's a popular stock market concept called, "Efficient
Market Theory" (EMT).

Most of the world's leading business schools teach this
widely-accepted concept.

However...

Warren Buffett says that the EMT is a bunch of hogwash!

He's actually gone on record saying that part of him LOVES
the fact that business schools teach this theory: It makes
things easier on him because his competition doesn't know
what they're doing!

Now... I'm not going to argue whether the theory is right or
wrong. It doesn't matter for our discussion here.

What I find intriguing is what Buffett believes IS true
about the stock market...

You see, the EMT basically says that the stock market is
"efficient" in its pricing... and that most buy/sell
behavior is "rational".

Buffett disagrees. He is CONSTANTLY scouting for
opportunities where he thinks the market is acting in an
IRRATIONAL manner... and then he jumps on the chance to buy
an under-priced stock.

In other words, a core part of his investment philosophy is
that the stock market is NOT efficient... and that there's
always room to grow your "bankroll" when others act
irrationally.

It's the same with poker.

When you're playing Texas Holdem, you want to spot the
"sucker" at the table... the guy who is making IRRATIONAL
decisions.

This doesn't only apply to amateurs, either. Even PROS have
"irrational" habits, tells, and "tilt" behavior.

Your OPPONENTS will open up millions of "profit
opportunities" for you... if you just watch closely.

And that brings us to the next principle:


PRINCIPLE 4: FOCUS ON THE VALUE OF THE BUSINESS, NOT THE
PRICE OF THE STOCK.


This one has almost a direct translation to poker:

FOCUS ON THE PLAYERS, NOT THE CARDS.

You're not playing poker against the house... you're playing
against your opponents.

With the stock market, everyone is always looking at the
PRICE of a stock to determine if it's worth buying or
selling.

Buffett actually doesn't even look at the price until LAST.
What he looks at is the VALUE OF THE BUSINESS.

He only invests in top-notch businesses that meet specific
conditions. He wants a business with strong growth prospects
LONG TERM, good management, and stable numbers.

Once he finds a business that meets these criteria, THEN he
looks at the price.

When the cards come out, what's the first thing you're
thinking about? What are you looking at?

You should be thinking about your OPPONENTS... the
POSITIONING at the table... the BETTING HABITS you've picked
up in the last few hands... and your opponents' FACES as
they look at their cards.

THEN when the action comes to you and it's YOUR TURN, you
should peek to see what you're holding.

Opponents first, cards second.


PRINCIPLE 5: DEMAND A MARGIN OF SAFETY FOR EVERY PURCHASE.


Warren Buffett is actually a very "conservative" investor,
as are most poker professionals. He'll only buy stocks that
he feels are practically "guaranteed" to go up.

You should demand a "margin of safety" on every hand you
play. This is actually much easier than it sounds.

Some of your tactics should include:

* Avoiding heads-up situations with players who have more
chips, and instead favoring those with fewer chips. (That
way if you go all-in and lose, you can still be in the
game.)

* Buying pots and bluffing when you have good positioning.
(That way you can get a read on your opponent and escape if
things go bad.)

* Only "chasing" draws when the pot odds are CONSIDERABLY in
your favor. (That way you end up way ahead over time.)

* And so on.


*** PLAY POKER LIKE WARREN BUFFETT ***


Perhaps the MOST IMPORTANT lesson I've learned from Warren
Buffett is to NEVER FEAR doing the "unpopular" thing.

His career PROVES that "going against the grain" is often
the BEST choice.

He doesn't live by what others do... he operates on GUIDING
PRINCIPLES that "win" over time.

Whether it's ways to leverage table positioning, tactics for
defeating common opponent styles, techniques for "stealing
the button", or figuring out the right times to bluff...

...You've got to first learn the POKER PRINCIPLES. And then
you need the GUTS and DISCIPLINE to stick to them.

Avoid These Costly Mistakes When Playing Texas Holdem

These are the top ten most EXPENSIVE mistakes made in
poker... mistakes that YOU are probably making RIGHT NOW.

Let's go through them one-by-one... and learn how to FIX
them immediately.


MISTAKE #1: Playing Too Many Hands

Most poker players are too loose with their starting hand
selection. You've got to stick with PREMIUM hands...
especially when you're at a 8-man or 10-man table.

Quit limping in with bad cards in hopes of hitting something
on the flop. All those blinds add up... and it's not worth
it.

At an 8-player table, focus on playing hands like pocket
pairs, suited connectors, A-X suited, or two face cards.

Leave hands like K-3, J-8, Q-2, and 10-7 alone. Just fold
them pre-flop.

The REASON most people play too many hands is because they
want ACTION. They don't want to just sit and there and wait
forever until they get good cards.

But if you want to win, you must be patient.

In fact... if you're playing good poker, you should often be
bored. That's right: BORED.


MISTAKE #2: Playing Your Position Wrong

Positioning is EVERYTHING in Texas Holdem poker.

Good positioning means you get to see what your opponents do
FIRST before you have to act. Based on their behavior and
betting, you can make an informed decision about what YOU
want to do.

Good positioning is LATE positioning. That means you're one
of the last to act after the flop. The most IDEAL position
is the dealer (or button).

The mistake most players make is playing the CARDS without
considering their positioning. For instance, the way to play
pocket Aces in the big blind is totally different than the
way to play it in the dealer position.

And that goes for all starting hands... and all positions.

The basic strategy you need to know is that you want to play
MORE starting hands from a later position. And you want to
play these hands more aggressively.

Most of your bluffs should come with good positioning too...
because that's when you'll have the best read on the players
at the table.

In early positioning you want to play FEWER hands.
Especially when you're immediately to the left of the big
blind (also known as "under the gun").


MISTAKE #3: Thinking You're A "Natural"

It's amazing how often I hear someone say, "I'm a natural
poker player..."

What IS a "natural" poker player anyway?

The truth is, poker is an extremely complex and
multi-faceted game. It involves math, psychology, body
language skills, self control, performing under pressure,
and a ton of other things.

The problem with thinking you're a "natural"-- just because
you're good at reading people's faces or something-- is that
it LIMITS your ability to improve.

No matter how good you are at poker, there is ALWAYS room
for improvement. And in each respective area of the game,
there's ALWAYS more to learn.

Not only that, but poker has been around for a LONG time...
way before it started appearing on every TV station.

A lot of poker strategy has been DEVELOPED. There are
step-by-step techniques, tricks, and "plays" that you can
use to win more money at the tables.

These strategies won't just "come to you" like a little
light bulb over your head.

Not a chance.

Instead, you've got to STUDY the game, talk to other
players, and be constantly LEARNING more in order to push
yourself to the next level.


MISTAKE #4: Getting Too Emotional

Emotional control is a big part of Holdem. You've got to be
able to "let go" and become unattached from the outcome of
the game.

The REASON emotions run strong in poker is because your
mixing MONEY, EGO, and CHANCE... all together.

It's DEFINITELY a recipe for some strong emotions.

The key is to EXPECT IN ADVANCE that things will get
stressful and intense. EXPECT that you're going to get
"rivered" and "sucked out".

The reason it's important is because if you let go of your
logic and start playing based on EMOTION, you'll never, EVER
win.

Avoid TILT at all costs. It causes more poker players to go
broke than any other phenomenon.

Stay in control of yourself and be "unattached" to the game.
Don't let anything affect you... just remain focused on
winning.

Period.


MISTAKE #5 Playing The Wrong Stakes

The stakes you play is what determines the SKILL you play
against.

And if you're outmatched, nothing else matters... because
ultimately you're going to lose.

But if you're way better than everyone at your current
level, then maybe it's time to "step it up a notch".

Playing the RIGHT stakes is a delicate balance.

I've found the most effective way to determine the RIGHT
stakes is to calculate your profit per hour over time.

The difference in your "profit per hour" at a $5 Sit and Go
versus a $10 Sit and Go can be DRAMATIC.

But you may get WHOMPED at the $20 Sit and Go... and lose
your bankroll in a snap.

Here's an important tip...

When you try to move UP in stakes, don't be afraid to move
BACK DOWN if it isn't working.

The action plan I recommend is to build your bankroll where
you KNOW you can win... then move up. If you lose your
bankroll, move back down and build it up again. Then move up
in stakes and try it again.

Repeat this process over and over and you'll be continually
improving... moving up to bigger games and more money.

This process also LOWERS YOUR RISK. Follow those steps and
you won't be gambling with next month's rent.


MISTAKE #6: Focusing Too Much On The Cards

Always remember this principle:

PLAY THE PLAYER, NOT THE CARDS.

Ultimately, the cards determine who's the winner for a
hand... but that's only when a hand plays out until the VERY
END and all cards are flipped over.

GOOD poker players hardly ever make it to that level in a
hand. Because they either force their opponents to fold or
fold because they pick up a read on their opponents.

The only times you should be flipping your cards up at the
end is when you KNOW you have the best hand and you've just
milked some sucker for a huge pot.

Get it?

The PLAYER you're up against is what you need to focus on.
Not your cards.

Figure out his betting patterns, his habits, his tells, his
movements... EVERYTHING. And then play him like a fiddle for
all his chips.


MISTAKE #7: Being Too Predictable

Just as you should be studying your opponents, your
opponents should be studying YOU.

The biggest mistake you can make is become PREDICTABLE. When
you're predictable, you can't win at poker.

Because every time you get good cards, everyone will fold.
And every time you get bad cards, everyone will bet.

The key is to BE AWARE OF YOUR BETTING PATTERNS.

Bet strong hands a certain way for awhile... then mix it up
a bit. Do crazy things... bet odd amounts... make the same
pre-flop raise for both 8-7 suited and pocket 10's.
Whatever.

MIX IT UP and kill any consistencies that appear in your
game.


Mistake #8: Not Knowing When To Quit

Know when to get up from a table... it will save you a LOT
of money over the long term.

This is crucial when you've either just WON a ton of money
or just LOST a ton of money.

Because in either case, the tendency from that point forward
is going to be to LOSE. You'll either lose your profits or
dig yourself in a hole deeper... but either way, it's not
good.

Losing streaks suck... because they take hold of some weird
part of your brain that virtually always PREVENTS you from
making a comeback.

No matter how determined you are... no matter how SURE you
are that your "luck" will change... it's not going to
happen. You'll lose more. So just STOP.

With winning streaks, it's the same way. Having a lot of
"new money" makes it less REAL... and there's a tendency to
lose it quickly on stupid moves.

So if you're WAY UP or WAY DOWN in a game, just stop playing
for the day. Go back at it tomorrow, it's no big deal.


MISTAKE #9: Not Knowing The Odds

Knowing the ODDS and PROBABILITY in poker is a standard
ingredient for success.

You can win some games just by being able to read your
opponents and "guess" at what types of betting decisions to
make...

But ultimately, knowing the odds is what it takes to be a
REAL Texas Holdem poker player.

The good news is, you don't have to be a "math genius" to
know the odds of a hand. There are a lot of shortcuts and
tricks you can use to calculate pot odds, hand percentages,
outs, and other important numbers.


MISTAKE #10: Not Getting Help

Like I said before, you weren't BORN knowing how to play
poker.

You had to LEARN it.

In every aspect of the game, you've got to continually ask
yourself the question, "Is this EXACTLY what I should be
doing in this situation?"

The absolute FASTEST way to improve your skills is to use an
odds calculator WHILE YOU PLAY online poker.

TEXAS CALCULATEM is an interactive software tool that will
show you step-by-step what to do in each situation, based on
the MATH behind the game.

After using this amazing program you'll develop an
"instinctual" feel for poker odds and math, which will help
you no matter where you play-- cash games with your friends,
live tournaments, online ring games, or anywhere else.

You can download TEXAS CALCULATEM right now. Click here:

TexasCalculatem

wonderfull flop for farha and hudson

Books on Poker

Nowadays the poker has become one of the most popular games around the world. You can easily see the international poker tournaments and celebrity poker on the television. Poker books can be of great help if you want to learn how to play poker and gain proficiency in the game. You can get books on each and every topic about the poker in the market.

If you need few starting lessons then the best way to get that is to concentrate on the books that focus on starting lessons only. This would be a great experience if you are interested in learning the game. Such books will teach you the variations of different cards, basic rules of poker and the right etiquette for poker games. It depends on you how much you want to learn, whether you want to become a weekend warrior or play on the tables of Las Vegas, these books can teach you everything.

You can easily learn about the different card combinations and how to play them once you start playing the game. Although poker is known as the game of chance but you can increase your chances of winning once you learn some techniques. The books will guide you on how to play and deal with different cards while playing a game of poker. Some books concentrate on teaching the reader; the tips on how to play those certain combinations.

There are books for players who want to learn the advanced moves and techniques of poker to gain more expertise in the game. Most of these books are written by expert poker players who write their experience and some hidden techniques to teach you. You can learn the game to be played without looking like an amateur in whatever table you sit in on to play poker using the tips described in the poker books. Not only tricks, these professional players sometimes share their personal experiences with the reader that further enhances your knowledge about the game.

Playing poker is the best way to have fun and get that fascinating and exhilarating experience. With the gaining popularity there are so many interesting stories to be told from history to high stakes games in the world of poker. These books and the stories in them about some successful people encourage you to play the game and increase your confidence.

Multi Table Poker In On-Line Casinos

On average a player that has a good working knowledge and experience of playing poker will play no more than 30% of his or her time. Out of that 30%, approximately 15% of this he or she will be folding on the flop. To the untrained eye, this seems like a terrible waste of time, when in fact this is not the case at all. Professional players use this time to learn their opponents “tell”. A “tell” is an involuntary movement, for example an eye blink or anything that indicates as to if the opponent has a weak or strong hand. Reading the opponents body language successfully is essential in the game of poker and players who can do it well increase their odds of winning by a large margin. It’s a war of mind manipulation, usually pro players play against other pro players as they all enjoy and are challenged by trying to read each other’s body language and are equally aware of the benefit of this technique. In order to try and gain the upper hand, it is common for some very skilled players to deliberately fake a “tell” in order to confuse their opponents.

However when playing on-line, the players opponent could be seated at the other side of the world, thus making it far more difficult or even impossible for a player to assess the “tell” and therefore increase their odds. Some on-line casinos enable the opponents’ information, or alternatively there are also some specifically designed software programs which were developed to allow players to gather all kinds of information about their opposition. If you are familiar with information gathering software and you play well, this can certainly be considered a big advantage when playing multi table poker on-line.

Most poker rooms have the facility for the user to play multiple sessions and even if this is not the case, it is possible to register at a few different on-line casinos and play at all of the different tables simultaneously. The recommended number of sessions opened, is all dependant on the players concentration, experience and ability to think quickly. To play with more tables than the player can handle, would be a mistake that he or she will pay for as soon as they see their winnings and or bankroll decreasing dramatically. Remember that it is not possible to move chips from one table to another even if playing in the same casino. If players choose to play on more than one table at a time it can get very confusing, especially if they are playing at different table limits on each table and with sets of different opponents each time, all with varying gaming strategies.

So all in all, the multi table on-line game is not recommended to you should you be an amateur, but experienced players seem to not only enjoy it, but more often than not their bankroll also seems to benefit from this style of play. It is generally recommended however that as an inexperienced player, you will benefit far more from mastering single table play before you move on to multi table poker gaming.