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Punky159's blog

Confession # 15 - Bankroll say what? Hee Haw, I ain't never had no plan. A solid Bankroll Management Plan should be at the forefront of every poker players arsenal. You need to take into account the upward and downward swings of your bankroll and most importantly play within your limit. There are a lot of players out there who practice horrible bankroll management and I've been right there with them. Just because you win that $1800 first place prize from a 10 dollar buy in, does not mean you are ready for the big time, and if you don't use cautious and prudent rules for when to move up, you will wind up back at square one. Patience needs to be a major watchword in how you approach your plan. Typically, a Donkey's bankroll looks like the ups and downs of a rollercoaster ride with more downs than ups which causes a lot of reloads. This doesn't bother most Donkeys as long as nobody else knows about it, but realistically it should because Poker is about winning money and that's the path I'm taking. I found a decent article about bankroll management written by Sid Lambert where he talks about not playing with scared money, letting your bankroll determine your limits, and changing limits along with a few other ideas on the type of poker you are playing. I'm including his bankroll management chart here which will probably be of help to many. If you don't want to use this chart, then I recommend going to the 5 percent rule where your buy in shouldn't be more than 5 percent of your total bankroll. Here's Mr Lamberts chart. Game Type---------------High Risk/High Reward----------Balanced Approach----------Conservative/Professional Limit Cash Game---------200 Big Bets----------------------300 Big Bets-------------------400 - 500 Big Bets NLHE Cash Game--------15 Max Buy ins-------------------20 Max Buy ins----------------30 - 40 Max Buy ins Sit and Go-----------------15 - 20 Buy Ins-------------------25 Buy ins----------------------30 - 40 Buy ins MTT-------------------------60 Buy Ins------------------------80 Buy ins----------------------100 + Buy ins Using this approach will allow for variance in your play and should keep you playing for a long time without having to reload. Don't forget you also need to know when to move down from a limit if you find yourself losing too much. Till next time... Ric, AkA Punky159
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