No Limits

"No Limits" and Poker

In my experience at the tables and in life, I've found that people that possess these six fundamental qualities are all winners. If you have 5/6, you can be good. But it truly takes all six to be great.

1) Aggression
At the poker table, aggression manifests itself with bets and raises. When you bet and raise, you have two ways to win: you can have the best hand or you can get your opponent to fold. If you just check and call and play in a very passive manner, the only way to win is to have the best hand. Aggressive poker is winning poker. When I see an opportunity or sense weakness in my opponent, I pounce. Successful people are not afraid to aggressively pursue their goals – they back their judgment and "go all in."

2) Patience
Poker is not gambling. Poker, to me, is "strategic investing." People always laugh when I say that, but I truly believe that is the case. When I'm at the poker table, I'm patient and wait for profitable situations to arise. When they do, I strike. But, I'm not about to invest my money in the pot in an unprofitable spot. Too many people need to "be in action" all the time – they are the type that bet every football game on a Sunday. For me, I can look at the slate of games and if there isn't a stand out "lock" I will sit on my money and wait. Aggression tempered with patience = Selective Aggression.

3) Courage
Its easy to put all your money into the pot when you have the best hand possible. But, its an entirely different thing to call a big, big bet with the 3rd pair and a small kicker even if you strongly believe you have the best hand. There are very few certainties in poker and life. You have to be willing to back your judgment and pull the trigger when the opportunities arise to make positive equity plays.

4) Observation
Information is everywhere if you choose to look for it and exploit it. Your opponents are always giving away something. At the table, the players with the best observational skills are winners. Those that focus only on their own hand have no shot at being great. In life, this is one of the most important skills you can possess. People generally wear their emotions on their sleeves. And, in business, spotting trends before they become obvious, finding niches, and seeing opportunities where others see barriers is the key.

5) Resiliency
Things don't always go smoothly. Michael Jordan was cut from his high school basketball team. At the poker table, bad things happen sometimes when you make good, winning plays. People can get lucky. The key is picking yourself up off the mat, wiping off the dust, and bouncing back. In poker, we have an expression, "a chip and a chair" – if you still have chips in a tournament, you still have a chance to make a winning, high quality decision. If you hit a bad shot on the golf course, a resilient player will make an excellent recovery shot and still save par. Shake off the bad results quickly. Focus on what is important: making winning decisions.

6) Intense Desire to Improve
Without an intense desire to improve, your game will stagnate. There is no one in the world that is the best at what they do that doesn't constantly practice and work on their game. At the poker table, I seek out better competition and stretch myself. I read books. I watch the best players in the world play on television. I learn from the guys that do it better. I ask questions. I'm inquisitive. Many people see these qualities as a sign of weakness. In fact, it is my greatest strength. I will not rest until I am the best I can possibly be. And, in my mind, I know I will never achieve that. I will never be the best I can be, so I will always have to work to improve.