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Great post. I was thinking along similar lines today. Woke up hungover and frazzled and proceeded to drop two buyins after taking a couple of really bad beats. It bothered me--not losing the money, since I'm compulsively over-rolled, but losing control of myself.

Lots of elements contribute to long term poker success, but I'm convinced that mental and emotional control is the bedrock foundation of good play. After I stopped playing, I went for a drive and decided to never log-in and play again if I don't feel like I'm firing on all cylinders. No playing hungover, drunk, tired, angry, hungry, etc.

It's not that you can't win money in these states, but as you astutely pointed out, winning at poker is more about holding money than making it, and that's where you need to be on your A game. When you're not at your best, you tend make plays based on emotion--on wishful thinking and hope. And making plays based on wishful thinking is the signal quality of bad play.

Anyway, once again, great post.