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The safe way up the limits
A safe way to get richIn this article
- Minimise risks, maximise profits
- Sometimes you have to step back to advance
Some people can't handle money. As soon as they have some, it's gone. Their accounts are chronically overdrawn and things only work out as long as the salary is credited regularly, and if no exceptional expenses cross their paths. Bad comes to worse when salaries are cancelled or delayed and major expenses start piling up; bankruptcy looms.
You need reserve assets
Poker life isn't any different. Your bankroll is the poker equivalent of your household budget and if it's overdrawn, everything is over. You never want to risk losing all your money and therefore need reserve assets. After all, in poker it doesn't always go your way. Sometimes you're hit by a streak of bad luck and lose one hand after the other; your poker balance has to be able to withstand this.
On the other hand, you shouldn't limit yourself to playing for safety. Your goal is to quickly move up the limits because the higher you reach, the more the money waiting for you.
Get rich, but play safe!
Even at first glance, you can notice the conflict in: 'get rich, but play safe!' Balancing and combining these two goals what is referred to as Bankroll Management.
PokerStrategy.com's bankroll management is a tried and tested approach to safely and swiftly pacing your way up the limits. It protects you from bankruptcy or from huge financial setbacks, as a result of an unavoidable streak of bad luck.
Points to learn:
- At what bankroll level can you play a certain limit.
- At what bankroll level should you move down to a lower limit, to prepare for a renewed ascent.
You can also watch the content of this article in video format. Simply click the picture to open the video.
You should still read the article to ensure that you have completely understood the strategy. Your bankroll will be grateful.
The bankroll management in detail
In Fixed Limit Hold'em you always count in big bets. The big bet is the amount you play on the turn and the river. If, for example, you play the limit $0.10/$0.20, the big bet is $0.20.
According to correct bankroll management, you should always have a number of big bets at your disposal in order to survive longer periods in which you don't make any profit at all. The money not played at the tables is not some extra amount that can be burned, it is your safeguard and you will learn to appreciate it throughout your poker career.
For your current highest limit, you should always have at the very least 300 big bets at your disposal. You should never drop below this number as it is the bottom margin. In fact, increase this number to be on the safe side.
If you have 300 big bets or less of your previous lower limit, you have to step down a limit.
If you have 300 big bets or more of your next higher limit, you may climb up a limit. Not earlier, as 300 is the lowest margin you should ever fall below.
For your poker career to go from strength to strength, you need to handle your money responsibly. Your bankroll is the poker equivalent of your household budget, so treat it that way. In the same way as you don't pay for things you can't afford, you need to reserve assets for when you get hit by a downswing. Only with this approach are you able to weather it out and continue your path to success.
Bear in mind that bankroll management is the aspect of poker that separates the winning players from the losing players. Without bankroll management, even the world's best players don't have a chance. Always remember this.You have now completed the full beginner strategy for Fixed Limit poker. Congratulations!
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