April 19th - $5/$10 on hold.
Monthly goal: $11.000
I am at -$4.863
Change: $1.013
I had more to say yesterday, but the entry started getting long so I'll spread all the stuff I want to write about over a couple of days.
After these last days losses my bankroll has for the first time in a long while dipped below $20.000, it is hard to imagine it was at $45.000 just a couple of weeks ago.
Last month I cashed out $10.000 and since then I have been running horridly.
That means unfortunately that I am not properly staked for $5/$10 anymore. Luckily I won some back today and my bankroll is at $19.900 at this time of writing, so hopefully I won't have to stay away from $5/$10 for long, but I think it is wise for me to stick with my strict bankroll rules and play the limits I am staked for. Especially now that I have been getting poor results.
Today I've been playing $3/$6 and I got some good results, the games were ok and I played a solid game. A win is always welcome.
A8o in the Cut Off: The idea was to disguise the strength of my hand and go for a check/raise on the turn. I guess I picked a poor spot to slowplay. I should have folded the river.
I have been trying to make some updates to the layout, I need to update the links section and replace the Eurobet banner, but the site has been giving me troubles lately.
8 comments:
You're playing poker for a living with 20 buy-ins for each level?! You must be kidding.. You must at least be rolled with 50-60 buy-ins, as 20 buy-ins variance is not uncommon at 5/10.
I play with a sliding scale.
I need at least 25 buy-ins to move up to a new level and if I fall down to 20 buy-ins I move down.
This system has worked very well for me so far. I would change it if it didn't.
You'll be too much emotionally affected by bad runs if you run with a schedule like this.
http://www.pokernet.dk/forum/show.asp?tid=129503
Read that thread, and maybe you'll understand the importance of having a more conservative BRM than you're currently running.
Eg kann bara taka undir vid tad hinir longu hava sagt. Tú koyrir vid eini alt alt ov agressivari BRM. Variansurin gerst størri jú hægri tú kemur upp í limit og tí er vigtigari vid størri BR. Nú spæli eg slett ikki har uppi, so reelt burdi eg kanska tagt! Men hevdi eg verid tú, so hevdi eg spælt NL600 inntil eg minimum hevdi 50 buy - og tad er minimum - ádrenn eg fór vídari upp. Kanska helst 100. Sjálvandi gerast suckoutini og variansur generelt hardari at taka, tá tú hevur so fá buy in. Eg hoyri tú sigur tad hevur rigga væl fyrr, men kanska er tíd at broyta strategi? Hvussu er og ikki, so ynski eg tær tó góda eydnu framyvir. Og mær dámar væl at fylgja vid tínum bloggi. Super bloggur!
Rógvi
I do not agree.
Bankroll management is a concept that isn't explained, defined or understood by a certain amount of buy-ins.
Firstly and foremost it is a commitment to approach the game in a certain way.
"I will manage my roll set aside for poker in a way to ensure that I never go broke." This is a common approach to bankroll management.
Perhaps your playing $300/$600 short-handed NL Hold'em against the best and most aggressive players in the world. Or perhaps your playing $.25/$.5 limit Omaha/8 against inexperienced players online.
Whatever your game, if you plan to not go broke you have to play at a stake in accordance to your roll where a big loss won't clean you out.
Each persons bankroll fluctuations, comfort zone and living expenses are greatly different, depending on many many factors.
I personally have played poker for many years. I live of this game and have done so successfully for quite some time.
I deposited $100 on Party Poker many years ago and through a carefully thought out and constantly tuned bankroll management system that I have found suits my own personal game perfectly have I risen in stakes to successfully beat $5/$10 NL Hold'em without any further deposits.
I can't help you with your money management, or begin to understand what kind of stakes you should play and what roll you should have. But I'll gladly share what system has helped me and encourage you to read, play and learn from your game to ensure your own success at this tough living.
I am grateful for all your advise and welcome all your comments.
But I can ensure you that I am very careful with the bankroll on which my livelihood depends. And whatever poker has in store, be it good or bad I am confident that I can take it both emotionally and financially.
Very good and well written post. But I still do not agree with you.
I've followed your blog for a long time now and I've often become sursprised of how much it seems you underrate variance. You seem a little un-aware of the sick variance that can, and eventually will occur in poker.
It is also very obvious in your blog that you become easily affected of variance of only 5 buy-ins.
But if it works for you then I guess there's no need to change it.
Keep on this great blogging and gl at the tables! :)
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