Let me ask you a question: in which of these situations are you more likely to earn profits?
- In your first 2 orbits at the table, you count 9 limps made from various players, most pots are multi-way in a single raised pot and people get to showdown with one pair while holding hands like J♦7♦ and 9♠8♥.
- You sit down and you don’t spot a single fish around you. Everybody is open-raising and 3betting and nobody’s limping. As soon as somebody checks postflop, the in-position (IP) player puts out a bet. The worst hand you see at showdown after somebody calls is TPTK.
I came across this quote the other day and absolutely fell in love with it because it’s not just applicable to life, but it suits the poker table as well.
“It’s good to learn from mistakes. It’s better to learn from other people’s mistakes.”Warren Buffet
The first thing I asked myself was, “Who makes the most mistakes at my tables?”
They’re the weakest players at any table. They love to see flops so they enter too many pots, and they remain in the pot for too long with weak hands and draws. Fish refuse to fold postflop, they size bets terrible, and they completely misunderstand basic strategy. These mistakes make them the perfect targets for value.