Patience

This lesson pertains to everything, from BR management, how many seesions or games you play, to when it is your turn to act. I've realized lately that patience, no matter how many times you hear the word, is key.

Bank Roll Management- Patience in this aspect is useful to the player who has a set limit of money online. Usually a player can start off playing with some sort of BRM. Then something happens, and some people may think that it is only losing that triggers this, but it is both winning and losing in which failing at BRM can occur. When losing a person usually wants to quickly get back to whee they were and moves up in limits. Bad Idea! When winning, a player may think that he/she has the money now, or thinks that he/she can beat this level of play. Wrong!
The best thing to do when you are winning is stay at those limits, I mean you're winning and beating that level! When you are losing, and I'm not talking about just one bad beat or game, basically just stop playing for a while. I find this to be the best solution, since moving down in limits doesn't mean you still can't lose a lot of money.

Sessions- Patience in this aspect is dependent on how much you play at a time or in a session. A session pertains more to the cash game player, so your best bet is to set a time limit. A good friend of mine almost always plays a 1 hour session. Now that may seem like a small amount of time, but thats not the only 1 hour session in a day. If he is down in a session, he doesn't play more to win more money back, he stops at his hour then plays a 1 hour session later.
When it comes to tournament players it is pretty ovbious. Many last up to 7 hours, so if you go deep that's your session, and most likely a winning one at that. But if you continue to lose early in sngs or mtts, don't keep playing, either your luck is horrible or there is a leak in your early game. The number 1 reason why begginner players are losing players is because they play too many hours. Remember that.

Your Turn- I have been taking a little more time when I act in games lately and it has been helping a lot. I know and see a lot of players who are all about quick action and decisions, and personally I think that that kind of play is a path for bad decision making. My suggestion is to take your time obviously, but look at the other players bets, your position, and then think about what has happened previously in the hand, or before in another hand while playing with these playes. By taking more time, you also can put the person on a hand and be more confident in your decisions.

High Blinds- I have been asked this question before, "what do I do if I am mid to short stacked late in an mtt and sng when the blinds are getting high?". I usually say it depends, or atleast I would have said that before. But now I say "be patient!" I have learned that folding is a bigger weapon then betting, of course pertaining to short or mid stacks. I have been down late in an sng, maybe 5-10 BBs and I would want to give up and push, try to double up and come back. What I have found is that waiting even longer can change a lot of things. I first realized this when I was approaching the Final Table of the 3$ rebuy on Poker Stars. It was late and my friend Aloe kept telling me to be patient don't push with just anything. Usually I'd get anxious and push and pray, but this time I waited got some cards and made the Final tbale and won close 800$. Another example was really late in the 11$ rebuy. I was down to 7BBs and thought I was a gonner. I then kept waiting and before I knew it, 1 , 2 , 3 double ups, since many large stacks gambled with short stacks with mediocre hands. I got to the final table and was the short stack, I was patient...and guess what it payed off, I won the whole tournament for $13k. So be patient...please?