So You Want to Be a Professional Blackjack Gambler? Why, You Already Are One!

Why did I say in the title that you already are a blackjack professional gambler? Think about it. If you can differentiate a blackjack professional gambler and player, then do not continue to read on. You have understood my intentions. Let me tell you a recent real life scenario…

I was hanging out with the guys at Chijmes, at a pub watching World Cup 2010 on a public overhead projector big screen. We drank, ate, cheered and bet on who will win that sort of thing.

Now, my friend spoke of another friend of his who called him up one night when he was asleep and asked for his advice on how many goals will be scored for the match of North Korea and Ivory Coast match. Since my friend was still half asleep, he carelessly said 3 goals and hung up the phone. Later the next evening, his friend called up to him and exclaimed that he had won $6,000 from that match! Was my friend a prophet? A magician? No! He was but a lazy pig uttering nonsense in his sleep and the common sense that several matches in a cup game set will hit 3 goals just crossed his mind!

But the issue that I wanted to point out is this-

I asked my friend whether did he later lose all again to betting other matches and he said that he did lose them all.

Now, this is exactly the difference between a professional gambler and a player. Why did I said that you are already a professional gambler?

That is because for a gambler, all you need to know are the rules to playing the bets! But for the player, it takes a lot of discipline, responsibility of oneself and strategies and planning in order to be successful in any game that he played.

What happens to that friend of his was this-

He did not have any strategies or discipline in controlling his money and also not understanding the football betting strategies.

Because of this, he dumped his winnings to other matches and hope for the best as he did in his winnings from the $6000 match bet. And of course as he did not understand anything, he let his emotions of winning that match take him to a “shopping spree” of making huge bets in the other matches!

For a professional blackjack player, it works the other way by understanding what planning needs to be carried out before he heads into the casino and how much to play and what strategies to use.

Furthermore, a professional player will train a lot and enforce much self-discipline into himself and when he is at the casino, he will look around and spot a good table before starting to play bets.

So if you keep guessing which team will win and which will lose, the end result is that you will eventually lose and not the teams playing the World Cup! There must be certain logic and strategies and most importantly, a good money management discipline in oneself before putting your bets!

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Are You a Forex Gambler or a Forex Business Owner?

Today we are going to talk about something that can be very controversial and you might disagree with a lot of things written in this article, but please understand that about two years ago, I have read a similar article – I was angry after having read it, I didn’t agree with a single idea in the article, but trust me – looking back, the ideas really helped me to understand that Forex trading is a regular business, which even some people who already achieved a certain level of success still don’t realize. However, it is VERY important that you understand this, so that you can move on the the next levels of success.

Today, I am here to pass these ideas to you – I could not find the article anymore, but it has been stuck right there in my mind for those two years, so I guess I will be able to interpret it very well.

Regardless of whether you trade manually or automatically, you can either be a Forex “gambler” or a Forex “business owner”. From my experience, even many of those people who would never admit that they are gamblers actually are ones.

Many people don’t think of themselves as “Forex gamblers”, but they don’t even think of themselves as “Forex business owners” – now this is the most dangerous situation to get into. Let me tell you one thing – if you don’t think of yourself as a business owner, it actually automatically makes you a gambler. I’m sorry, but there really isn’t anything in between – you are either 101% sure you are a business owner and think of yourself that way all the time, or you are a gambler.

Now being a gambler surely isn’t why you got in the business at the first place, is it? So what should you check to make sure you didn’t become one?

I’m sure that you already know you should use stoploss, have a strategy and stick to it etc., but that’s not really my point today. My point today is – does your Forex trading business give you any instant cashflow or not?

I’m not saying that you should forget compounding, but if you trade JUST for the compounding, then your business can actually never replace your main source of income and you will never be able to focus on it 100%.

A strategy that turned out to be a great way to manage your money was to track my monthly earnings and to withdraw 40% of it (or whatever is enough for you to live on) and keep the rest of it in your trading account. That way, you get the best of both worlds – you get exponential growth of your account, as well as a monthly cashflow, which will replace your main stream of income eventually and let you focus on trading more, which will further increase your profits!

Online Poker Players Vs Online Poker Gamblers

Taking a bad beat every now and then is all in a days work for a poker player who is either playing for a living or just grinding every night after the day job. But sometimes the serious player can go full on tilt when the ‘gambler’ at the table take chances on cards no semi-professional poker player would ever dream of. Then he hits his hand. Raging tilt will then ensue, especially if the poker player folds a hand that could have potentially beat the gambler. When that player tilts, the first act of irrationalization is to attack the integrity of the software.

Some players make risky betting decisions that pay off due to pure luck. This is not evidence that a Random Number Generator (RNG) has been tampered with or that a cheat program is being used. No cheat programs exist that can reveal your hole cards to others or determine which cards will come up next on the board.

In the game of poker, some people play because they strive to win, while other players are there to gamble. Playing against gamblers is a very different experience from playing against poker players.

In general, poker players make logical choices, react to the odds, and get a feel for each opponent as the game progresses. Poker players make rational betting decisions and tend to enjoy poker the most when playing against like-minded players.

On the other hand, gamblers often chase through to the river card if there is even a small mathematical possibility of victory. For gamblers, part of the thrill of winning comes from knowing they can win despite the odds being stacked against them. Hitting a miracle river card for a suckout victory is much more satisfying than dominating an average, predictable hand. This makes gamblers’ betting decisions frustrating for rational poker players who play by the odds.

Online players are free to adopt their own style of play, and should not penalize other players, who may just be starting out, for taking unnecessary or seemingly senseless risks. Find a way to deal with the frustration of losing a hand when the ‘poker player’ played more skillfully than the ‘gambler’, and leave the emotion out of it! Occasionally, even more than occasionally, these types of bad beats will always exist to remind us that poker, regardless of the skill involved, still contains a large element of chance.