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sharktank13 High Card
Joined: 11 Jan 2007 Posts: 12
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Posted: Thu Jun 14, 2007 9:24 pm Post subject: A tragic lesson in bankroll management |
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Hey everyone, just thought I'd share a little story with you all in hopes of helping you all out down the line. I have been playing for a year with an initial deposit of $50. It's been up and down, but this summer I had plans to make poker my serious summer job. I play low-limit 1-2 and 2-4 tables mostly, sometimes tourneys. Over the last couple of weeks I got my bankroll over a thousand and was getting ready to play 3-6. This last week I played 3-6 several times and more or less decimated the whole bankroll. It seemed that people were so loose, my big pairs always got cracked, yet none of my draws ever came in. I knew that if I got some good hands I could make some money, but they never came. I was on scared money, feeling a little tilty, but most of all my bankroll was never large enough to withstand the cold streak. I was down to $120, I cooled my head and went back to 2-4. I am back to $350 in a day, but the episode at 3-6 was costly. I wish everyone the best, and recommend moving up only when you are ready and your bankroll is large enough. See you at the tables  |
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BOYNAMEDSUE Moderator
Joined: 27 Jun 2005 Posts: 7843 Location: Toronto
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Posted: Thu Jun 14, 2007 10:23 pm Post subject: |
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| When you play tight and it seems like everyone else is playing loose, that might be the case, or it might just be you're playing scared. You can play looser when you have a big enough bankroll to support the swings. $1000 is not enough to play $3-6, even if it's fixed limit. |
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HuJwang Forum Blight
Joined: 20 Aug 2006 Posts: 6379 Location: Halifax, NS
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Posted: Fri Jun 15, 2007 12:29 am Post subject: |
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| 300 times the big bet is the common rule of thumb for fixed limit. With a bankroll of $350 you shouldn't be playing anything higher than $0.50/1.00. |
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BOYNAMEDSUE Moderator
Joined: 27 Jun 2005 Posts: 7843 Location: Toronto
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Posted: Fri Jun 15, 2007 11:48 am Post subject: |
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| Another bankroll tip, stay away from sites that offer casino game, especially blackjack. |
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fire_eyes_2k The Burn Card
Joined: 18 Jan 2006 Posts: 3453 Location: London
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Posted: Fri Jun 15, 2007 12:11 pm Post subject: |
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| I play 2/4 off $1600, and withdraw whenever I get over 2k. I've had a hideous start to June and lost $900, without playing particularly badly. I've had plenty of swings of 100-150 Big Bets, but this one of -220 is really starting to piss me off, and really does reflect the importance of BRM. If I had played 3/6 my BR would be gone. Sure if this goes any worse then I can reload and still comfortably be up for the year, but I'll need to take a good look at my game. |
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Riddim Moderator
Joined: 04 Dec 2005 Posts: 8045 Location: Sweden
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Posted: Fri Jun 15, 2007 3:28 pm Post subject: |
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| HuJwang wrote: |
| 500 times the big bet is the common rule of thumb for fixed limit. |
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MrBoston6 High Card
Joined: 05 Jul 2007 Posts: 3
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Posted: Thu Jul 05, 2007 12:16 pm Post subject: |
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| I'm curious how you're trying to play poker instead of your job while having barely $1000 in the bankroll. Thats not even a months rent in some places, and you'd have to clear 3 times that |
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roger39 High Card
Joined: 06 Jul 2007 Posts: 5 Location: Thailand
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Posted: Fri Jul 06, 2007 12:07 am Post subject: |
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| He says he wants to make it his summer job. From this I would assume he is a student and still supported by his parents. |
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ridic x Straight Flush
Joined: 03 Nov 2006 Posts: 485 Location: At your tables stealin your moneyz
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Posted: Sat Jul 07, 2007 10:40 pm Post subject: |
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I can't even laugh b/c I did this a couple months ago, was comfy playing 2-4 had about 1400. Tilted like mad one night, jumped to 5/10 and 10/20. After all was said and done, I only had 200 left, and I just now have gotten my confidence back and am on my way back to 2-4, currently multi-tabling 1-2.
The biggest thing that led to my downfall was being ill prepared for the swings, now I know it's nothing to swing 100 bets and what not. So I keep my head on straight. |
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