Chasing profit

The conventional poker wisdom is that you should never chase profit; that is to say, when you're in the hole, you shouldn't try to get out of it by playing for increasingly higher stakes. Intellectually, I know that to be true; viscerally, however, there's something very appealing about the idea of risking more than you risked before. It's a form of magical thinking. "All my debt will disappear in one fell swoop! Lemme at those higher stakes!"

Last night, I did some profit chasing - and actually caught it :-) I'm not going to make a habit of doing that, of course, but it's nice to know it can sometimes work. Contrary to my advice from last night's post, I immediately looked at my extrapolated profit after last night's session, and was very pleased to see it exceeding 2.75 million play dollars.

style flavor buy_in entry players hands entries paid place winnings

MTT   NLHE    45000  5000       6    97     160   42    36    86000
MTT   NLHE    17500  2500       6    20     452  114     -        0
MTT   NLHE    45000  5000       6     3      50   15     -        0
MTT   NLHE    87000 13000       9   115     221   45     6   691000

delta: $557,000
MTT NLHE balance: $2,834,648
2017 balance: $756,625
balance: $12,174,455