Playing with R.i.S.K

Posted on Friday, October 9, 2009
Filed under Fundamentals

Risk -> according to wikipedia is:
‘Uncertainty of Outcome’
To cut it short: Risk is "B.A.D"

The question is
why are we playing with Risk?
are we Risking ourselves?

Let's illustrate with a game:
if I have numbers from 0 -> 9, you are to bet ONE number, will you bet?
most probably NO..
why? cos your winning probability is only 1/10 or 10%
...You are taking Risk of 90%.. that's a Hugeee Risk ...

Now...
if we are to play big and small... would you bet?
Most of people with gambling-minded will say without hesitate:
Y.E.S.. Let's get it on..
so can you win? probably.. it's a 50:50 chance..
or I prefer to call it 50:50 Risk..

Then...
If you ask me...
Am i going to play the above 2 games?
the answer is NO.. a big NO..
W.H.Y....??
Reason being: taking risk of 50% is not necessary...
This is a game of luck... you don't have control ...
or in other word.. you can do NOTHING even if you try your best..

That's why.. most people love to play mind conscious game..
such as Poker...

Is playing poker risky??
Yes definitely... for people who don't know how to play..
they will be slaughtered pigs..
For people good in playing it,
is there any Risk?
I won't say NO, but it's not a risky game for them..

Why is it so??
* If i know my card is bad... i can always play save... i know i will lose but
not losing too much capital..
* If i know my card is quite ok... i can try to win...
* If i get a really good card... I know.. its time.. to win big... (in poker face)
There is a ControL... the key here is ConTroL
It is to know how to play the game well..
and to control yourself ...
all depends on you...
You control the risk... you reduce it to your advantage...

Having said that, the risk is always there, when you don’t know how to eliminate risk or you don’t even know whether something is risky or not.. then the advice to you is … to find out before you do anything..

”When you don’t know what to do…. do nothing…”
quoted from a “forgotten-name” book.