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 Post subject: Money Management
PostPosted: Fri Mar 28, 2008 8:24 pm 
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I need some solid advice on money management, I know alot about the technical aspect even more then most pros. Just like yestereday I made 3200 from 277 in a day and today I'm flat broke AGAIN!!. This happens every single time I'm getting really annoyed.


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 Post subject: Re: Money Management
PostPosted: Fri Mar 28, 2008 10:15 pm 
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ChipExcess27 wrote:
yestereday I made 3200 from 277 in a day and today I'm flat broke AGAIN!!.




ChipExcess27 wrote:
I know alot about the technical aspect even more then most pros.



These 2 statements seem to conflict.

Hookers and blow maybe?


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 Post subject:
PostPosted: Fri Mar 28, 2008 10:50 pm 
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I don't think managing your bankroll involves skill just like knowing when to quit.


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 Post subject:
PostPosted: Sat Mar 29, 2008 9:08 am 
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So what advice are you looking for? Where did your money go?

Detaild help.


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 Post subject:
PostPosted: Sun Mar 30, 2008 10:23 am 
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What folks fail to understand is the reason they go broke is THE SAME reason they run up 3000 in one session. They play above their bankroll for the "thrill" of it.


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 Post subject:
PostPosted: Tue Apr 15, 2008 2:37 am 
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I feel kind of funny replying to a thread like this since i'm usually good about money management, but this week i lost one hand and went on an absolutely mind-blowing ape sh*t crazy tilt and lost it all.

Or maybe I've learned my lesson from the experience...I'll get back to you on that.

I can quote percentages and number of buy-ins you should ideally have in your BR, but I guess that gets into the "technical aspects."

It sounds based on the amounts you are quoting as having earned and lost like you are sitting down with all or most of your bankroll at a single game. That's the biggest mistake.

Take the total amount in your account and divide that by 20
That will give you the stakes you should be playing S&G's
Divide by 30 to get your ideal buy-in for NL or PL cash games.
Divide by 50 to get your ideal buy-in for MTT's.

If you're losing at that level, move down.
If you're still losing, move down again.
If you're still losing, quit for the day...or go find a freeroll...or Absolute gives you a bonus for getting your play money account up to 10 million.

When you go to make another deposit, make it big enough that you're not starting at the lowest stake level. That way you have somewhere to go.

Whatever your bankroll is, once you double it, cash-out for half your winnings (which is a quarter of your new bankroll) and put the money somewhere safe. That way you've got money tucked away somewhere, so if you go bust again, you still have something left to deposit and start the cycle again....and the time lag caused by processing the cash-out and processing the new deposit will give you time to collect yourself and evaluate your game.

The most important thing is to remember that money won and money not lost is the same money...just like your money vs. instant bankroll money vs. bonus money. It's all your money.

Wow, that sounds Caro-esque, doesn't it?

I can keep talking numbers, but i think it's a mindset kind of problem. Try this. Make your goal infinite sustainability...then profits. Before you start thinking of trying to make the big money, just try and make your poker habit support itself. Otherwise you're better off finding a tall precipice and just tossing your money off it.


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 Post subject:
PostPosted: Tue Apr 15, 2008 9:47 am 
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I usually play NL cash games and my buy in is only for about 3% of my total bankroll or less. If I lose few buy ins and buy-in becomes more than 5% then it is the time to move down in limit.


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 Post subject:
PostPosted: Tue Apr 15, 2008 9:36 pm 
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If I dont have my whole br at stake in the hand, then its just not worth the effort.

Let er rrrrrRRRippp.


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 Post subject:
PostPosted: Thu May 08, 2008 1:26 am 
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Every one knows that one should always have a bankroll 300 times to amount of the big bet. This means if you want to play $1-2 limit, you should have a bankroll of $600. This is a good figure, but it is also a very general statement. One must first be aware of the type of player he or she is. If you are a tight, solid player, then you will probably not need as much money as a player who is involved in a lot of pots.
It is always better to consider different aspects of the play like game , the limit, the style of play for a good money management.


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 Post subject:
PostPosted: Thu May 08, 2008 5:40 pm 
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petric22 wrote:
Every one knows that one should always have a bankroll 300 times to amount of the big bet.


That's fine for limit poker but the bankroll involved will vary depending on the game.

I'd recommend: 300BB for limit - 25 buyins for NL - 45 entries for SNG - 100 entries for MTT.

Those numbers are reflective of if your playing those games exclusively. If your only playing one MTT a week then your buyin range can be much less. It all boils down to what makes you comfortable and whether your bankroll is replenishable or not.


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 Post subject:
PostPosted: Fri May 30, 2008 6:32 pm 
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Our good friend variance means losing 8 buy ins at no limit is inevitable at some point for the player who is better than 90% of his opponents. We will also win 8 BI's on other days, but your bankroll has to be able to cope with the losses. So giving yourself 20-30 BI's, means you can avoid going broke fairly comfortably, and move back down a limit if things don't swing your way. With a $277 BR, NL10 seems quite a good fit, I'm thinking you were playing NL100/NL200. Good for a bit of fun, but not a great place to learn the game.


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 Post subject:
PostPosted: Fri Jun 13, 2008 4:42 pm 
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i think that i should take my own advise once in a while but i have been told over and over again that if you want to play 1/2 NLHE you need a minimum of 20 buy ins so you would need to have 4000.


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 Post subject:
PostPosted: Sat Jun 21, 2008 5:59 pm 
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aren't there books on money management out there?

I often go broke too, have great big swings. but I have managed to win a few times also. I think if you can go from 277-3000 you should probably spend 50 bucks on a Bankroll management book, now if someone could just suggest one

it's easy to go bust in poker with thousands or just pennies. lots of luck with a little skill


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 Post subject:
PostPosted: Sat Jun 21, 2008 6:45 pm 
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liam123 wrote:
aren't there books on money management out there?


I really don't think any exist. Their are books that have chapters dedicated to bankroll management but the whole concept is to player dependent to devote a book. Tons of information exists all over the web on the topic. A google search on "poker bankroll management" will net you a bunch of useful links. The first one is from a well known and respected player who plays for a living so she knows what she's talking about.


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 Post subject:
PostPosted: Mon Nov 24, 2008 9:02 am 
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ChipExcess27 wrote:
I don't think managing your bankroll involves skill just like knowing when to quit.


True.


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