A few days ago I went on a great run and made 80% of final tables for all the MTTs I played in a single day. Today, I feel I am playing almost as well, but I have busted before the money in almost every tourney I entered. This prompted me to take a quick look at variance in simplified terms.
Assuming we have to go all-in on average 4 times to cash in a 40-person MTT, and assuming we are a 2:1 favorite every time, what are the odds that we make the money? In this simplified scenario, we would only cash a little less than 1 in 5 times!
Of course this is a dramatic oversimplification, but it reminds me how often a series “flips” (or even all-ins where we are substantially ahead) can go against us. Stick to the grind and the results will come. Short-term you can be playing literally perfect and still lose 5 times in a row!