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5:27 am
December 24, 2007
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Pokerbudge
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I still cannot manage my bank roll responsably?
just need some ideas on how to do this and refuse the urge to move up to the 2-4-3-6 omaha or hold em cash games, even tho i may win alot 50% of the time?
my bank roll ranges from usually $100 to $3000.
what i mean is im a very good tournament player & cash maybe 70% of the time in tournaments but then can go mad with my winnings and win more for a nice cash out or lose it all in a day. Recently, well in the last 2 weeks i managed to get two 2nd’s in 10k gaurantee for pay days of over $2500 and a 6th in an 80k gaurantee for a 5k pay day. after cashing some out and leaving my self around 3k to play with i again was playing well at y usuall 1-2, 50-1 stakes. then jumped into 2-4-36 or 4-8 and after 3 or 4 bad beats had all but lost my bank roll again.
im not a player who says this is my bank roll i never lose it and have had it for a while, im always depositing until i cash in a tournament again and build my bank roll.
I’m pretty sure if there were more multi table tournaments that could keep me interested, ie: $40 pus buy ins where the pay day will be worth it, my bank roll would be fine, but as they only have so many nice tournaments a day, usually the 7 or 8pm slot, i get bored and hang around cash games until the next interesting tournament.
just need some advice from people in smiliar situatons or that have been and got out of this horrible way of losing money.
thanks
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8:26 am
December 25, 2007
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HungryJ0e
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Not sure I’m qualified to comment, but anyways…
It’s all about discipline, and as they say a C player with A level bankroll management will beat the A player with C bankroll management over the long term…
Ace on the River is supposed to have alot of bankroll commentary, although I’ve personally never read it..
- HJ
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12:42 pm
December 29, 2007
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Pokerbudge
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thanks, any replies are welcome, more would be great help.
i’ve taken into account what u said about C roll management and A players losing to A roll management C players.
thanks nice insightanyway.
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9:40 pm
December 29, 2007
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weasel97
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If you’re ready to try a more disciplined approach to bankroll management, do a bit of googling for Chris Fergusen’s recent $0->$10k.
Now, it certainly helps that he’s a good player, but he showed incredible discipline to be able to do that, IMO. I think that any player who’s a winner at some limit would be able to not go bust with his bankroll management rules.
But really, if you can really cash in 70% of the tournaments you play, there’s no reason you should have to redeposit.
How closely are you really tracking your results? Are you sure that you’re really cashing that much in tournaments? Are you sure that your losses are really due to bad beats?
The first step is tracking your results relentlessly (PokerTracker is great if you’re playing online), and being completely honest about your results. That includes looking at both good luck *and* bad luck.
I’m actually starting to look at the same things myself, and I think I have a new bankroll rule that should help me stay out of the red. I’ve found that most of the money I’ve lost comes in sessions where I spew 4+ buyins. Typically, I’m just not playing well, but I keep dumping in money anyway. I think if I put in a stop loss at 2 buyins, that should help my results quite a bit. But, that sort of discovery doesn’t come without tracking results, and being able to look back.
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2:59 am
December 30, 2007
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wallenborn
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Also, don’t play at particular stakes just because you have the bankroll. You can be an excellent tournament player yet still get your bottoms handed to you every day at the $2-$4 cash game tables. Tournament and cash play require different skills, don’t let this become an ego issue to you.
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3:40 am
December 30, 2007
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Pokerbudge
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wow thanks, i’m going to look ino that, & yes iam cashing in the majority of tournaments i play, but i do lose my winnings minus whatever i’ve cashed out on high stakes cash games.
maybe it’s not 70% of the time, but it is above 50, if play 5 i’ll cash in 3, but not always the big ones as i said, the tournaments i want to play are only on around the 7pm to 9pm slots.
so this gives me around 8 hours if im not doing anything to dwindle my bank roll away playing cash games.
i think i’m maybe a compulsive gambler in some form or another because when my bank roll is up.
winning at 25-50 or 50-1 seems like im lossing because i feel if i was winning at 1.50-3 to 4-8 i’d have much more money.
& i get bored playing for hours to go up $50 at most.
but thanks alot, im gonna look into chris fergusons book.
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9:52 pm
December 30, 2007
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weasel97
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but thanks alot, im gonna look into chris fergusons book.
Not sure he has a book on it, but there are more than a few blog postings, etc, talking about the bankroll rules he used to get there. I’m sure there are a few on Michael Craig’s blog on Full Tilt, and probably elsewhere.
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9:24 am
December 31, 2007
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HungryJ0e
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Agree with everything weasel says… if you are routinely playing online and not using somehting like PokerTracker you are doing yourself a disservice. The more you use it the better your game will get, resulting in more $$$ in your bankroll. Also, using PokerTracker and analyzing your games will give you something to do in your "down time" between tournaments. I’m no expert in online playing (spend most of my time playing home games) and the minimal tracking that excel spreadsheets allows me helps me tremendously. The small amount that I play online, PokerTracker assists immensely.
Now that I think about it as well, 70% cashing in tournaments over the long haul is obscene. I’m sure you are a winning player in tournies, but you surely aren’t that high?
- HJ
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