Long-term greed

Last Thursday night, I did exceptionally well at the beginning of the session; I hit a high of over $110K in less than twenty hands. Unfortunately, I succumbed to short-term greed instead of long-term; I kept playing, and eventually lost not only all my winnings but also my whole original starting stack of $40K.

What I mean by long-term greed is the desire to see your stack grow ever larger over time, regardless of what it does in the short-term. That's the good kind of greed! What I mean by short-term greed is the desire to see your stack grow now, right now, whatever the cost. That's the bad kind of greed.

I've played long enough to know that short-term greed is always a temptation. I've also played long enough to know that the only way to grow your stack is to see it shrink occasionally. You can't let the downswings get you down; they're a part of poker life.

I'm really looking forward to playing tonight!

delta: $-40,000
balance: $835,187