I have said numerous times that I have done awful lot of reading of late with regards to financial day trading. However it is often said that in order to become a good trader that there are three key areas that have to be right and these are MIND…..METHOD……MONEY! To be a successful poker player then your psychology and your mind needs to be right. So does your money management as well because you can be a great player but if your money management is wrong then you will never make money.
Most players concentrate on their method but this only part of being a successful player. If your mind isn’t right then you will tilt far more easily. If your method isn’t right then you will not have a consistent way of playing and if your method is wrong by way of being far too aggressive then this knocks on to not only your mind but also your money management as well. There have been stages in my career where all three M’s were non-existent. This of course is a pure recipe for disaster. Your method has to suit your personality otherwise you will never get it right. All three of these factors have to be in perfect alignment otherwise you will struggle.
If your mind is right as is your money management then there has to be something wrong with your method. Your method could have been previously making money but if it is no longer making money then there has to be something wrong somewhere. If you are not making money consistently playing poker then there has to be something wrong with one of these three areas.
