HELP!!bankroll management

    • Gambitwd
      Joined: 11.11.2008 Posts: 141
      Hi, I have been playing for 5-6 years and been doing quite good as far as my play..I have improved my game quite a bit along the way but I am lacking with bankroll management..I AM DOING HORRIBLE with my always tempted to play higher stakes and of course ending up broke and have to start over again..I am fed up of it..but yet cannot stop myself from this bad pattern..I REALLY am asking for HELP and TIPS pleaseeeeeee..someone give me advices
  • 9 replies
    • bkbart
      Joined: 01.04.2007 Posts: 327
      the answer is fairly easy. Make rules and stick to them. I would say never by in to a game with less than 50 or more buyins. I would suggest to even have more buy ins 75 or so but it depends how agressive you want to be.
    • PetterG2
      Joined: 12.10.2008 Posts: 224
      BRM for SNGs/MTTs

      This is a VERY conservative BRM. I play according to this one, except for when I'm playing bigger gtd-MTTs. :s_grin:
    • BBBarrington
      Joined: 08.05.2009 Posts: 2
      5% max buy in for cash games (I buy in for 20 BB's each time), 2% buy in for STTs, 1% for MTT's. Very simple to use, and if you move down in levels when u have to instead of moving up to try to win it back, you should be fine. Best of Luck
    • Gambitwd
      Joined: 11.11.2008 Posts: 141
      THANK YOU very much guys...these things I already know..but I still do not apply them :( maybe I should quit playing for a while to rethink about it all
    • michaelqian
      Joined: 02.05.2009 Posts: 512
      Sounds like you have a bit of a gambling problem.

      There's not really anything anyone can say that can instantly fix your problem. It's all up to you.
    • lozz08
      Joined: 26.06.2009 Posts: 106
      Well, encouragement is never a bad thing...

      I too have a problem with the attractiveness of playing higher stakes. But its when you start to understand that playing lower stakes is actually more enjoyable that you will change, like I have. It is quite a good feeling playing with an amount of money that would not hurt you to lose, but make you feel good to increase, know what I mean? Like, it takes the stress away, and allows you to play to your full potential, because believe me, playing in tournaments where your BR is at stake limits your play SO much it isn't funny.
    • andreibalint
      Joined: 11.04.2009 Posts: 872
      Let me give it a try... First of all, you need to make the distinction between playing poker for fun and playing poker to make money. If you play poker, or any game in general for fun, DO NOT expect to make money. And conversely, if you want to make money DO NOT expect to have fun. When i play poker I ENJOY it, i do not have fun. If you laugh when playing poker something's wrong, if you smile everything's ok.

      I believe the correct aproach to playing poker (or trading since they are somehow similar) is that of a business. You have your capital and you want to expand it. Problem is you cannot risk to much of your capital because you will go broke. You may think that a company is risking a lot because it has a lot of debt or because it purchases the materials or produces goods whitout the guarantee that they will be sold. But the thing is they have the buildings, the technology and the goods that they can still sell at a lower price. In poker, you have NOTHING!

      Let's go further (I study economics, what do you expect? :D ). The best performing companies and the best portofolio managers/hedge funds (companies that invest other people's money) are making a profit of about 50% per year. Maybe 100%, rarely more. Thing is in poker you can make that in a month by sticking to money management. So does it worth it? Does it worth it to be safe from going broke and perform 10 times better then the above mentioned? I think it does...

      Good players love to take the money of people that are playing for fun and for the adrenaline rush. And they love to take money from people who are not respecting bankroll management. That is because if you play stakes that are too big you will play bad. You will play with scared money you will want to risk the least possible. And if you lose a part of your stack you will surely do the stupid think and try to recover it. So you'll go broke...

      All in all you have a choice: play for fun and lose (and by the way the original fun will be replaced by a lot of frustration) or play for good, read articles, books, watch videos, etc. and try to make something out of it. Simple as that!
    • jp2570
      Joined: 28.12.2008 Posts: 10
      I agree, it is all about changing your mind set, as I also had the same problem. It is all about discipline and patience of which I have none. One technique is to have two accounts. One which you apply the appropriate bankroll and strategy and one with a small amount of money that you use when you feel the urge to play at a higher level.

      What you have described suggests that when you go up the levels it is because of tilt. If you can identify when you are on tilt, change to the account which you are not applying the bankroll to. This serves 2 purposes. One is that you will be able to get a 'release' when you are playing on tilt with out affecting your proper account. The second is using the two accounts as a comparison. Once you see that you are making money in the first account your mindset will start to change and you will hopefully become more disciplined.

      Obviously you will not be making money if you keep losing it in the other account, so after a while you need to find a different sort of release. There are quite a few suggestions in the forums.

      Finally, try to read the psychology articles on this site, even if you have read them before. I find that they completely change my mind set and allow me to view the bigger picture and how the quick 'release' is realy not worth it in the long run. Another technique i use is to watch one of the coaching videos before i play as i start to copy the manarisms and thought processes of the coach. This helps especially with my patience when i am not getting cards and feel the urge to play medium strength hands.

      Hope this is of some help
    • mChavez
      Joined: 13.02.2009 Posts: 323
      I totally agree with andreibalint (hello, colleague. Economics for ever=) )

      When i just started playing poker, i was playing micro stakes to "learn the game". Did not make much money, but did not go broke. I was sometimes playing slightly higher stakes for fun and because of that, my BR stayed low.

      Then, when i decided that poker can finance my expences on living in my last year at uni, i changed my attitude. I do not play for fun. I play for money. If i do not keep the level of my game up, i'll need to find a crappy minimum-wage parttime job. I won't be having fun there either. At least i ENJOY poker. Enjoy kicking a tilting bastard out on a bubble, enjoy beating a good but not-just-good enough opponent in HU. Enjoy the adrenaline rush of finishing high in MTTs. IF I do not follow BRM and suddenly go broke, i'll have to find an even crappier low paid part time job.

      Although, i do not have a gambling problem. thats good for me hehe=)

      From what i've lernt of poker so far, there are two equally important things in the game: your skill of play (playing correctly) and your self-control. If you loose control, you loose the game, you loose money. thats the rule. IF you do not follow brm, you go broke. If you cannot control your BRM, how can you control your game?

      Good luck with self-management=)