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alanrwilson
Joined: 11 Aug 2007
Posts: 5
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 Posted: Sat Sep 01, 2007 12:48 pm Post subject: Bankroll management (The Poker Mindset) |
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Hi,
I have a question about the Bankroll Management section of the book The Poker Mind Set. In this book it says that your bankroll should be approximately 300 big bets. Now if I go on tilt or have a lots of bad beats this will erode my bankroll possibly to a level significantly less than the 300. Obviously if my bankroll is say now only 200 big bets this is much less than the recommended level and I would be playing a limit with an insufficient bankroll. Is the only solution to this to go to a lower limit where my bankroll is the minimum 300 big bets or should I continue to play at the current level taking in the long term view and assuming that if my play is good enough my bankroll will go back up?
The other question I want to ask is if I am playing online what actually constitutes my bankroll, if I say had an account on Poker Stars with $1000 and an account on Full Tilt with $1000 should I consider my bankroll to be the sum of my accounts i.e. $2000 so I can use $2000 as a basis for my 300 big bets. Taking an alternate view if I say had a special bank account which I only used for Poker, this had $2000 in it, and I only had $1000 in my Poker Stars account would my Poker Stars bankroll be only $1000 or could I say that my bankroll is $3000 so I could play at a $5/$10 game using the 300 big bets rule of thumb.
I have used the Bank roll calculator on the website but can someone explain the standard deviation field means.
Thanks. |
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Piemaster
Author of THE POKER MINDSET
Joined: 15 Jan 2004
Posts: 6958
Location: London
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| Posted: Sat Sep 01, 2007 1:05 pm Post subject: |
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In my opinion, you should always move down. The cards have no memory and so the fact that you started with a 300 big bet bankroll bears no relevance on your current situation. THe fact is, you now have a 200BB bankroll and so need to be playing at a lower limit or risk going bust.
As for your second question, you can count your bankroll as your combined roll between all the sites and also any other money you are prepared to lose playing poker, providing it is easy to transfer between the sites. In fact, I would definitely recommend spreading your money around in this day and age to minimise risk.
By the way, this is probably in the wrong forum, so could a mod move this to either the BR or Psych forum? |
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StarlightCoast
Joined: 13 May 2004
Posts: 706
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| Posted: Sun Sep 02, 2007 9:43 pm Post subject: Re: Bankroll management (The Poker Mindset) |
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| alanrwilson wrote: | | if my bankroll is say now only 200 big bets I would be playing a limit with an insufficient bankroll. should I continue to play at the current level |
| Piemaster wrote: | | In my opinion, you should always move down. |
But when exactly. This is something that has always mystified me. When exactly should a player drop that level. As soon as they have less than 300 big bets? Or as the OP indicated when the roll falls to 200bb? what, in your opinion is the optimal number when considering dropping levels? |
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Piemaster
Author of THE POKER MINDSET
Joined: 15 Jan 2004
Posts: 6958
Location: London
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| Posted: Fri Sep 07, 2007 6:19 am Post subject: Re: Bankroll management (The Poker Mindset) |
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| StarlightCoast wrote: | | alanrwilson wrote: | | if my bankroll is say now only 200 big bets I would be playing a limit with an insufficient bankroll. should I continue to play at the current level |
| Piemaster wrote: | | In my opinion, you should always move down. |
But when exactly. This is something that has always mystified me. When exactly should a player drop that level. As soon as they have less than 300 big bets? Or as the OP indicated when the roll falls to 200bb? what, in your opinion is the optimal number when considering dropping levels? |
There is no optimum number, because it depends on a huge number of factors. What your win rate is, what game you play, SH or FR, risk tolerance etc etc. The important thing is that you determine what a safe bankroll is for you and stick to it.
Let's say you decide that 300 big bets is a good number. If you have 300 big bets and you lose 50 of them, then you only have 250 big bets. It doesn't matter that you started with 300, your risk of ruin is now exactly the same as if you had only started with 250. If you have decided that anything less than 300 big bets is unacceptable, then you should drop down as soon as you go below that. There is no magic equaliser that will compensate you for your misfortune.
However
That is not to say that you can't incorporate a buffer in your bankroll plans. Let's say that you play 1/2 and you have decided that 300 big bets is a good bankroll requirement. If you get to $1200, you could play 2/4, but instead it might be better to wait until you get to say $1400 (350 big bets) before moving up. That way when you move up, you can afford to lose that extra 50 big bets before you have to move down again. |
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MXRider
Slim Shady
Joined: 19 Jul 2004
Posts: 5017
Location: Have it your way!
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| Posted: Fri Sep 07, 2007 7:12 pm Post subject: |
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From a moving perspective, I am a bit more on the agressive side. When I am following the 300bb theory, I will move down when my bankroll falls to 300bb of the level I would drop to. If I am playing 1/2limit, I will drop down to .50/1 when my bankroll hit $300. Just my thoughts, but it worked well for me when I was playing limit properly. Now, it doesn't matter what bankroll I have because even at 1000bb, I'm destined to go broke  |
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