Poker Poker Poker!: [vpFREE] Re: Basic Fundamentals

--- In vpFREE@yahoogroups.com, "mroejacks" <rgmustain@...> wrote:
--- In vpFREE@yahoogroups.com, "futrend" <futrend@> wrote:

Dick,

I think explaining hand independence and a continuum of time is
fairly easy to explain if one first addresses the basic concept
of the 52 card deck and a random number generator. I also think
not trying to explain or define short term and long term is a
good idea. Other than by saying, as you did, that those terms
are not definable. I think this too can be accepted by most.

I do a lot of record keeping when I play. This is one of the
reasons that I might get asked more questions, while playing,
than most members of this group. My sole motivation for the
question I asked, and any other questions I might ask in the
future, is to develop some basic, accurate and logical answers
to provide at the appropriate times. Your suggestion of
maximizing ER on a game seems to be a good response.

Unless asked, I have no need to get into other goals since
maximizing long term ER is precisely what I am usually trying
to do. Yes, bankroll growth would not be something I would
expect to need to address to most others. Your last point
about saying both are equal and it does not matter is also a
good response. At times I do mention a little about game
variance since at times I am asked about why I am playing a
particular game. Picking a hand with lower variance could, at
times, be discussed. Thanks for your thoughts.

Bob

> The answer is simple ... don't even try to explain terms that have
no
> definition. There is no exact definition for either short term or
> long term even though many use these terms. There is only a
continuum
> of time for which one strategy is best for maximum ER. However, we
> have discussed goals on this forum many times before and maximizing
> ER is just one possible goal. One way I phrase this type of
> discussion is to ask what is your goal. If it is to maximize the
> total return over all the hands played in one's lifetime then ...
end
> of discussion. If they have other goals, then max ER may not be the
> best strategy.
>
> As for two hands with the same ER ... it doesn't matter. Pick
either
> one. Some folks like to minimize variance and will pick the lower
> variance hold, others like more risk. I'm pretty sure you don't
want
> to get into Kelly bankroll growth so I'd just say they are both
equal.
>
> Dick
>