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Stress aboutlossing money

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Stress aboutlossing money - Fri Apr 25, 2014, 03:40 PM
(#1)
misslocas's Avatar
Since: Jun 2010
Posts: 6
Hello everyone, this is my first blog and here is a little about me and what is going not so good with my poker journey.

I have been playing poker since a lil more than 10 years and I have had great runs and lots of dowswings as well. Those ups and downs have made me more nervous about my play and the fact of losing money- which is affecting my play and I am well aware of it .

I have started to use pokerschool as my new POWER tool in order in improve my POKER play and hopefully counterfight this fear of losing more money. I am opened minded to anyone who could help me with this brain that needs to be shifted towards great play instead of just fear of losing my cash. And I also would appreciate if anyone could guide me a little through bankroll management with a BR of roughly 500$. My favorite games are SNG holdem NL , limit holdem and stud 7cards in ring games.

Thank you for your time and advises
 
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Fri Apr 25, 2014, 05:15 PM
(#2)
wiltshireman's Avatar
Since: Aug 2010
Posts: 1,572
(Moderator)
xxxx Moved to more appropriate forum xxxxxx


Hello misslocas

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Last edited by wiltshireman; Fri Apr 25, 2014 at 05:19 PM..
 
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Fri Apr 25, 2014, 06:24 PM
(#3)
royalraise85's Avatar
Since: Jul 2011
Posts: 26,033
(Community Coordinator)
Quote:
Originally Posted by misslocas View Post
And I also would appreciate if anyone could guide me a little through bankroll management with a BR of roughly 500$.
Welcome to the forum!

This type of fear may actually be a good thing. If you didn't care about the money you might not have come to the point where you have decided to really work hard at improving your game.

Even the best players in the world can go through a period of downswing where they lose money over days, weeks and even months, so prepare yourself for these times, they are a normal part of the game.

When you buy-in to a tournament or a cash game you should be comfortable with the fact that you could lose this money, in fact, when you buy-in you should think of it as the money is already gone. The fun part is trying to win it back plus a little more.

Here you will find a guide for Bankroll Management. Have a read through it and then come back to your thread here and post any questions you have about the article.

Also consider that there might be other issues that make you nervous about sitting down at the tables, maybe something you are even unaware of yet. Here's a link to another great article about Fear at the Poker Table by Jared Tendler that you will find interesting.

There's lot's of great people here in the forum so post plenty of questions. We're all here to help each other along and all of us are learning something new each day we read or write a post.

Raiser


Moderator

Bracelet Winner


 
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comforting - Fri Apr 25, 2014, 09:22 PM
(#4)
misslocas's Avatar
Since: Jun 2010
Posts: 6
Thank you so much Mr Raiser I have read for the second time both articles suggested and it was better than my first read I must say . My standards are too high and my goals as well. I will need to determine some that will be easier to achieve and focus on that instead of thinking about money lost.Otherwise I wont have any fun anymore playing.. Setting up my mind slowly but surely.

Thank you again
 
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Fri Apr 25, 2014, 10:58 PM
(#5)
thephoenix11's Avatar
Since: Mar 2012
Posts: 186
Hi there. A few years ago i had exactly the same problem. I was living hand to mouth so couldn't get off the ground with poker. Had to play so tight because i couldn't afford to lose and any profit i made had to be used to put food on the table.
Luckily i have improved my life somewhat and no longer have that fear but i still had a fear of losing up until a few months ago and here's what changed for me.
I was looking at the game and always thinking about "what happens if i lose". Can i afford to reload. Can afford to move up a level?. And other questions too.

What's changed is my attitude to my bankroll. Back then i was looking to make it quickly to becoming a professional. i was also taking large wins out of the game to pay debts off.

My new method has me not only making a profit. it also has me moving up the levels. albeit slowly.

My mindset for poker now is that i no longer own the money in my poker account. I'm british so i have a GBP wallet and a USD wallet. i keep my br in my USD wallet and my profit Builds up into my GBP wallet. I have also employed a strict bank roll management routine using the 200 buy in for mtt's 100 buy ins for stts and 50 buy ins for cash.

Dismissing the money i have on the site as not mine and using this strict brm system i have found that my fear of losing is a lot less. Because it's not money i need, or money i need to look after i'm not fretting about the size of that shove in my cash games, i'm not bothered about shoving all in with QQ on the bubble but most importantly of all, i've lost the sense that my entire life relies on this one tournament.

Having shaken those shackles, my play has improved somewhat and instead of frequently gracing the min cash club i now cash a little less but make deep runs a lot more. On my cash game i make more profit because i'm not afraid of losing, i'm anticipating the victory.

So my suggestion to your problem is to write the money off as lost from the off and focus on playing poker, not making the money. You may bust out of a few more tournaments, but hopefully the cash's you do make will be deep and rewarding.

I hope my experience helps you.

Phoenix.

P.S. My brm has a profit making system so that instead of all my profit being reinvested to help me move up the levels (which can be forever at micro level) some of my profit is now separated. I now have enough to reload my 3 bankrolls if i need to and made my first profit only cashout the other day. Having that reward of money actually leaving my account and going into my bank account seems to have spurred me on even more.

The system is simple and is as follows.

My current MTT level is $0.25. It was $0.10. Using the 200 buy in rule i played $0.10 cent until i had $22. Any wins that took me over the $22 were invested in the $0.25 bankroll until i had 10 buy ins for that level. once i had 10 buy ins for $0.25 i started playing $0.25 level but keep playing the $0.10 level and all profit goes into my GBP account. Sometimes i'm only moving 10 cents but it's built up and built up and finally i have made a cashout.

an example. Playing $0.10 and your current br is $21.50. You place 8th and win $7.63. 50 cent goes to the br taking it up to $22. $2.50 goes to the $0.25 cent br giving you 10 buy ins at the next level. $4.63 is put aside to build up for your cashout.

For me this gives me the reward factor that my game of old was missing. I may be moving up slower than i could but having that reward has done so much to boost my confidence in playing and also lose that fear of losing because i may lose that one tournament but i did put $20 in my bank account the other day

Hope this helps also.

Last edited by thephoenix11; Fri Apr 25, 2014 at 11:24 PM.. Reason: Additional Comment
 
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Sat Apr 26, 2014, 12:34 AM
(#6)
ForrestFive's Avatar
Since: May 2011
Posts: 2,036
This is a good read about BRM and thinking a poker decisions may reflect losing the money invested.

Am I a losing player jumping around different stakes to find a "consistent" game or just on tilt chasing losses?

With $50 you can make a profit with patience and bankrolled for 55c mtt games or 1c/2c cash but it will take along time. A good multi table player can reduce months of playing 1 table down to weeks or days.

Just looked at my 2014 tournament results $1,715.97 winnings and down -$130.94 but cash profits don't cover the loss. However with the rake back VIP Stellar Rewards and FPP cash from the shop I haven't yet lost my 50 bucks 2014 deposit in 4 months.

So swings and roundabouts, variance, what ever. Try to enjoy the game and learn here at Poker School.


PS. Ooops only $23 now, don't think May is going to be a good month.

Last edited by ForrestFive; Sat Apr 26, 2014 at 12:50 AM.. Reason: May is not looking good
 

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