Poker and the Beginning Trader

Quote from traderNik:

btw... with 8 limpers?? That's a tough one, because if you raise it to 3x the BB, and UTG decides to call (he's paying 2 bets into an 11 bet pot), and UTG +2 decides to call (he's paying 2 bets into a 13 bet pot, an auto call), all the guys after that are getting easily priced in, and you can end up with 5 or 6 guys in the hand.

I think you have to raise a lot more than that or else just try to flop a monster and get away from it.

Any other comments? I am assuming this is at a super-loose low buy-in NL table.
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It was a new 1-2 table which started out very tight-passive, then as it was revealed certain players were playing any ace regardless of position, it started getting loose pre-flop.

Your call was pretty much what happened, I raised $15 but this wasn't very much higher than standard open raise for that table, and wound up with 5 callers. Going all-in would have probably been the best play, given AK and no position, although throughout the entire session not one person had gotten all-in PF unless he just had a few chips left.
 
Quote from illiquid:
Your call was pretty much what happened, I raised $15 but this wasn't very much higher than standard open raise for that table, and wound up with 5 callers. Going all-in would have probably been the best play, given AK and no position, although throughout the entire session not one person had gotten all-in PF unless he just had a few chips left.
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Yep, sounds familiar. The $15 raise at a $1-2 table, and the 4 callers who limped for $1 only to decide that their hands are now worth $15, aren't uncommon. Actually, I always wonder about the first guy. You are usually raising like this in late position, and the first guy to call is the guy who limped in from UTG or UTG+1. He has now decided that his hand, which was worth limping for $1, is now worth $15. It is highly unlikely that he has a monster, since if he sees your raise behind he should push automatically. So you may be able to put him on a hand. Subsequent guys may actually be correct in calling if the pot is laying them the odds, even though they might hold low suited connectors or something like that.
 
http://www.bloomberg.com/apps/news?pid=20601087&sid=aHc9CwwW0RNg&refer=home

`We will step up a gear in terms of looking at the rest of the world,' said 888 Chief Executive Officer John Anderson. `It's a devastating loss. Most of the rest of the world is quite sensible in terms of regulation. If you look at the prohibition of booze in the U.S., gangsters made a lot of money from that.'

Was it predictable? I honestly didn't think it would come to this. I do believe that we will eventually see law enacted that allows Nevada and Atlantic City-based casinos to run online sports books and poker sites.
 
Was it predictable? I honestly didn't think it would come to this. I do believe that we will eventually see law enacted that allows Nevada and Atlantic City-based casinos to run online sports books and poker sites. [/B]
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Obviously I have been following things intently, and I was very surprised that several major sites are caving in so easily, saying they will stop accepting US customers once the bill is signed.
 
Due to the latest legislative moves I had the majority of my money from the online poker sites I play wired to my internet banking accounts. I left a little in accounts so I could mess around and will just play with the rest. Overall I'm a net winner with online poker.

I live within an hour of some good casino poker action so it's not that big of a deal.

If you have substantial balances online I would start trimming them back. Would be pretty horrible if you lost your money thanks to "Big Government".
 
I once thought all I needed was to find and wait for the perfect "setup" before taking a position, like waiting to be dealt aces or kings before making any raise; now I'm starting to realize that on the highest level of either game, you need to learn how to play it "blind" and still take down the pot.
 
Quote from illiquid:

I once thought all I needed was to find and wait for the perfect "setup" before taking a position, like waiting to be dealt aces or kings before making any raise; now I'm starting to realize that on the highest level of either game, you need to learn how to play it "blind" and still take down the pot.
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illiquid, you are now on your way. It took me about 2 years of play to start to figure it out.
 
I thought I would resurrect this thread for a second to ask some of you poker players for some help and guidance.

First off, if you guys don't know how we, as traders, fit into the poker scene- check this: www.stocktrading.com/pokerpagesbob.html

and, of course, "Jesus" is one of our traders. http://www.seiyuu.com/okamoto/poker/misc/chris.htm

But, the reason for my asking for help/ideas/thoughts on this topic is this. My brother has been playing on the televised "Cash Poker" (Ultimate Poker Challenge). http://www.ultimatepokerchallenge.com/v2/cashpoker/

for a while now, and I've been asked to help with their promotional activities. Since we no longer have "legal" online poker in the U.S. (hopefully this is temporary, but who knows) - I am looking for ways to increase audience participation, both onsite and on TV - sort of a "Deal or no Deal" type of thing.

I've thought of having spectators "bet" on a player, like a horse race...having monitors of hole cards live with narration, etc. but am looking for other ideas.

Come on, some of you smart people help me out!

Don
 
Rep. Frank Eyes Web Gambling Ban Repeal
Wednesday March 14, 6:49 pm ET
By Matthew Perrone, AP Business Writer
House Finance Chair Frank Considering Proposal to Repeal Online Gambling Ban in U.S.

WASHINGTON (AP) -- The chair of the House Financial Services Committee is considering legislation that would overturn the ban on online gambling passed last fall.

A spokesman for Rep. Barney Frank, D-Mass. said Wednesday the congressman may introduce a bill to reverse the Internet gambling law, but he stressed there is nothing concrete yet.

"There's no draft, no text -- this is very much still in the thinking stage," said spokesman Steve Adamske.

The Financial Times quoted Frank Wednesday saying that the law, formally known as the Unlawful Internet Gambling Enforcement Act, is "preposterous" and one of the "stupidest" ever passed...

http://biz.yahoo.com/ap/070314/internet_gambling.html?.v=4&printer=1
 
Quote from biggerfish:

Rep. Frank Eyes Web Gambling Ban Repeal
Wednesday March 14, 6:49 pm ET
By Matthew Perrone, AP Business Writer
House Finance Chair Frank Considering Proposal to Repeal Online Gambling Ban in U.S.

WASHINGTON (AP) -- The chair of the House Financial Services Committee is considering legislation that would overturn the ban on online gambling passed last fall.

A spokesman for Rep. Barney Frank, D-Mass. said Wednesday the congressman may introduce a bill to reverse the Internet gambling law, but he stressed there is nothing concrete yet.

"There's no draft, no text -- this is very much still in the thinking stage," said spokesman Steve Adamske.

The Financial Times quoted Frank Wednesday saying that the law, formally known as the Unlawful Internet Gambling Enforcement Act, is "preposterous" and one of the "stupidest" ever passed...

http://biz.yahoo.com/ap/070314/internet_gambling.html?.v=4&printer=1
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this is hopeful, but still it will take a long time before there is a chance of the act being repealed.
 
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