Cashing out: when and how much?

    • Raykoid666
      Raykoid666
      Bronze
      Joined: 28.11.2010 Posts: 32
      To cut a long thread short: I'm just looking for some tips on cashing out, when, and how much.

      Does anyone have a plan for cashing out, such as "At the end of every month i'll cash out 50% of the month's net profit" or something like that?

      I'm looking to move up limits, but in the meanwhile also maintain a nice regular cashout rule
  • 6 replies
    • Berzerger
      Berzerger
      Bronze
      Joined: 24.03.2008 Posts: 910
      I think it's best not to enforce a monthly cashout rule just because you might have losing months when you'll feel like you completely failed at poker just because you didn't earn enough to withdraw without diminishing your bankroll. In my experience it's best to withdraw when you actually want to buy something specific with your poker winnings.

      Crude example: you're playing NL50 with 1500 euro, you win 500 more in a month and withdraw half of it, and this continues for three months. You will have a 2250 roll. If you hadn't withdrawn any money, you'd have a 3000 euro roll, enough to take a shot at NL100 or just keep playing your current limit with an extra downswing cushion. Either way you'll progress through limits faster if you don't keep chopping off chunks of your roll by cashing out.

      Of course, if you're already grinding NL200 for a living I don't have much useful advice, it depends on what "cashout schedule" you're most comfortable with.
    • Raykoid666
      Raykoid666
      Bronze
      Joined: 28.11.2010 Posts: 32
      I do see your point, but on the other hand, if I were to cash out a bigger amount at one specific time, mentally this might be harder for some people (including me)

      Some people would indeed think like "If I didn't cash out I could...." but then again, I am more the kind of person that won't notice a monthly cashout as much in his bankroll as much rather than cashing out half my bankroll when I need something

      Again yes you do have a point but I guess different things apply to different people, just wanting to hear some personal experience and tips here
    • clawindsouza
      clawindsouza
      Bronze
      Joined: 08.12.2009 Posts: 7,085
      i cash out at BR milestones...i personally think its the best way...like for example..when i reach 2.5k i will cash out 500$...then the next $500 at 3.2k...then 1k at 4k...

      ofc you need to plan it out well according to how soon you think you can get it to the next milestone
    • TilTmuch
      TilTmuch
      Global
      Joined: 06.10.2010 Posts: 1,185
      it depends on what type of player are u? cashgame/sng/mtt?
      well if ur are sng/mtt player i might have just a thing for u that i found in web.
      cashout strategy
    • andreibalint
      andreibalint
      Bronze
      Joined: 11.04.2009 Posts: 872
      I withdraw 50% of the monthly profit, but a minimum of 100$, even if i have a losing month.

      The minimum 100$ is important to keep you motivated for being a poker player, and of course can vary depending on what stakes you play and what you need the money for. It has to be enough so you can do something with it, but not enough to make you feel satisfied.

      I've been doing this for a year and i'm relatively happy with this method, but my bankroll is at the same level as it was then, i guess i'm not your definition of a "grinding machine".

      You should start withdrawing money regulary when you also play a lot and you're not in the microstakes-there you desperately need to climb up stakes.
    • MatejM47
      MatejM47
      Black
      Joined: 21.01.2010 Posts: 1,193
      Personally i think its pretty pointless to withdraw anything until you reach at least NL25 or NL50 where you can actually make some decent money. After that it depends on how much your making monthly and how much your living expenses are. But in case you start making a ton of $$$ you should definitely withdraw most of it and invest it somehow since -EV to have 100k on pokersite while you can gain like 4% interest on it in a bank.