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Avoiding Bankroll Suicide

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Avoiding Bankroll Suicide - Wed Jun 12, 2013, 07:27 AM
(#1)
Ed3819's Avatar
Since: May 2013
Posts: 7
Hi everyone. First of all, thank you to all who have helped me with my last couple of posts. Your advice is so valuable and I really appreciate it.

I'm here with something that I fear I am not alone with. A lot of beginners do this, and I confess I used to do this ALL THE TIME for the last 6 or 7 years.

Let's say I had a bankroll of $250. I'm playing $10NL at 9 seat tables. I run quite well for a couple of hours then BAM! Three bad beats within the hour. Maybe two. Or even one would be enough to send me on what I am about to explain.

My $250 becomes $220. Not a big loss really. I mean that's poker right? But here comes the emotion. Instead of sitting out, taking a break and maybe moving down the limits, or even posting my hand history on the forums to see if I did anything wrong, I exit my $10 games and move to the first $200 table I see.

Within 30 minutes my bankroll is gone.

I didn't do any of the things I could have. My emotions took over and my dream of building a bankroll now belongs to somebody else. Emotion ruins your game, and your bankroll.

This is something that happened to me A LOT!

I'm not posting this because I have done this recently, but I am posting because the TEMPTATION has been there. It is a very difficult battle with emotions, and I'm wondering if we could discuss what the players here do when they are looking down at the felt with no chips, and they feel they could blow up any second. And how they avoid risking their entire bankroll in stakes they really shouldn't be playing.

And also, I would appreciate some honesty from anyone who has found themselves killing their bankroll just like I used to. I'm not here to judge, I'm here to share stories and learn.

Thank you in advance for your help.

-Ed-
 
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Wed Jun 12, 2013, 08:09 AM
(#2)
bhoylegend's Avatar
Since: Jun 2012
Posts: 2,261
I live somewhere where it is easy to get money on and off sites like Stars an Full Tilt.

Had a bit of a mare at 10nl Zoom on Sunday, served me right for taking a shot when dying with a hangover, and dropped a couple of buy-ins. Dropped another BI at 5nl the day after and thought '**** it' and cashed out the majority of what I had in the cashier. I don't think I would have done anything stupid and tilted of loads of money but I certainly thought it was a good move regardless.

You don't need to have all your poker bankroll on the site. I know what I can afford to lose on poker but its in my bank account now and not on the site. The extra time it takes to deposit will probably be enough to let me cool down without spewing money away. If its on site it's much easier to lose it.
 
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Wed Jun 12, 2013, 11:28 AM
(#3)
Fadyen's Avatar
Since: Apr 2012
Posts: 1,917
Before I started playing on Stars an was ever involved with PSO I did the same thing. Chasing losses is a sure fire way to lose more. When I joined PokerStars I knew I couldn't afford to deposit much and probably wouldn't be able to reload so I made the decision to impliment super strick bankroll management. For SnGs and cash I'm only playing if I have 100 buy-ins (most people have a lower limit but I'm broke lol), MTTs I'm a little more relaxed as I don't play very many. If i'm having a bad session I'll maybe grab some food or go for a run, if it's just a really bad day I'll take a day or two off. It's all really about will power and knowing when to walk away. Or perhaps you just need to remember the game should be fun. If i'm getting stressed I'll sometimes just put $2 onto a low limit Razz table and play with that for a while, with the mind set of just having fun and if I lose it then I'm done for the day. It a kind of safety system, if I'm gonna lose $2 at the lowest Razz tables then I'll lose much more at the higher stakes NLHE tables, but at the same time it take my mind off the losing streak.



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Wed Jun 12, 2013, 01:59 PM
(#4)
Ed3819's Avatar
Since: May 2013
Posts: 7
I really like that idea Fadyen. In these situations when you aren't running so well it's easy to forget that poker should be fun. Looking back, I think that would be a great way to put a buffer on extreme losses - making the game fun. I personally don't know how to play Razz, but I really enjoy 7 card stud. I think I've got a plan in mind to keep the demons at bay. Next time I take a loss, and I want to play poker, I'll head over to the low limit 7 card stud tables and have some fun. Probably play for an hour and then have a long rest, and start fresh on holdem when I'm good and ready
 
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Wed Jun 12, 2013, 02:07 PM
(#5)
mike2198's Avatar
Since: Jan 2013
Posts: 1,485
Everyone has coolers and bad days, ive had a few that annoys me but i will never up the stakes and chase losses i just whine about it for a day and go again and earn my money back and more.

Its the best way imo you cant rush building a bankroll to play higher stakes.
 
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Wed Jun 12, 2013, 04:52 PM
(#6)
rolo834's Avatar
Since: Mar 2011
Posts: 1,425
I have the exact opposite thing to you ed I wont move up even though im bankrolled too

So our answer is just 2 little words

BANKROLL MANAGEMENT

and its so easy to learn compared to learning poker imho

it is the only thing that ssmoothes out variance kinda and tells you which level you should be playing at

youve witnessed it from your side of blowing the lot and poker is not a get rich quick scheme(im not sayin that was your mindset) and by beating ba dplayers at low levels is going to be easier than beating better players higher up

lets say your a young tennis player just startin out..and you win $100 for every win at low level buyin so yu play a few bad players win 3 games lose 2 your up $100 notbad plus your gaining expereince....then you think i can beat rafa nadal if hes on a bad day ..so you risk everything

seems crazy right its ridiculous its the emotions running high..tilt can cause this

if you start out slow and low and gradually move up...and this may mean moving back down a few times it minimizes the chance of losing everything(which has to be a good thing right?)

take a look at his simple calc it may change your game forever

http://www.sitandgoplanet.com/poker-...alculator.html

Now can anyone help me ?...give me a nudge to move up...i guess im still studying and learning so that when i do move up i have a higher chance of sustaining it but a bad run and I would have to move back down which im prepared to do

hope this helps

rolo
 
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Wed Jun 12, 2013, 05:03 PM
(#7)
ArtySmokesPS's Avatar
Since: Oct 2011
Posts: 7,363
I'm a bankroll nit and have never tried playing higher stakes than I can afford. I usually go with a 30 buy-in rule for cash games, so that I can easily cope with a typical 10 buy-in downswing. For tourneys, I prefer to have 100 buy-ins.

I'd recommend that the OP (or anyone else with bankroll management problems) starts a personal challenge in the Challenges and Battleground forum. Posting your bankroll building plan where everyone can see it should give you that extra little bit of discipline to stick with it. You'll also receive encouragement from other players that have similar goals. I set out my own bankroll management plan for playing 6-max here. It's a slow old grind, but the progress is clear to see.


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Wed Jun 12, 2013, 05:30 PM
(#8)
Ovalman's Avatar
Since: Feb 2011
Posts: 1,778
Another bankroll nit signing in.

Playing 2c/4c Limit even though I'm rolled here for much higher but I've also a bankroll on another site to play $20 STTs, all built through sensible bankrolling but yet I'm playing $5.

TBF I took a stab at $20 on Friday and won $150, I then lost $120 the next day and threw the towel. I've been mostly on Stars ever since, only recently playing 25c/50c tonight. Losing 6 games in a row really knocked the stuffing out of me even though I know all about variance and I am +$30 overall.

I've came from a freeroll background and do look after any rolls I have but I also think that stops the gambler in me and I don't move up. I'd really love to conquer my nittyness, get to $20 -$30 games and stay there.

To the OP. Move down, not up if you lose. Its not a sprint but a marathon. I've many mates like you that want to get rich quick and chase losses but invariably they'll lose and the brief times they do win will never make up for all the losses they incur (they love telling me about their wins though )
 

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