Bankroll Management

[warstories]

Thought I would finally take up one of the many promotions this site sends me. If I deposit money into my account - using the promotion code "SEATFREE" and play real money games, I would be eligible to enter into their $20k freeroll tourney. And guess what???? Yep you guessed it!!! I could not register. I have sent them 3 emails with no reply.

Has anyone else had trouble with this?? And have you been able to finally register?

malleeboy

Whats up everyone? I am not sure if this blog will be posted for everyone to read but i will write a little on what this post is about. Well for anyone that plays poker online or live you know how important Bankroll management is.. Well I wrote a post about a month ago on a prop bet that i had with a friend the bet was i had to turn $100 into 10k in only 2 months and so far I am up to $6,890.78. Now the rules were that i had to do this playing only low-stake games when i play ring games the blinds can be no bigger than $1/$2 N.L. and when playing in a sit'n'go buy-ins no bigger than $20. Also i can not play in any tournaments that has more than 10 players i can not re-deposit and once i go broke i lose the bet. Now i understand that this may seem like a suckers bet and i have no chance with playing such low stakes and if i did not have bankroll management then yes i probably would have no chance at all. And to be completely honest with you before getting into this bet what i thought i knew on bank management was all wrong. I actually found such a super easy way to build my bank roll up. I have asked many people for advise on this and i got some good advice and some really poor advice so what i did is i sat down and i put all the information that i had received from everybody's different ways on how they done it and what i came up with has truly helped me triple my money in a very short time. Now most of what i have figured out does have alot to do with having the knowledge and self-control with the money you are willing to gamble with. Well like i said I am not sure if this is going to be posted for anybody that is interested in reading about this so what I am going to do is end it here and see. And once i figure out how i can post this for the public forum i will continue writing on this because trust me this will help you out tremendously.

[bb28]

snip

It's kinda frowned upon to dig up an old thread.

There is a blog option here at CM if you'd like to create a blog with your story, you can find it here.

[warstories]

Whats up everyone? I wrote a little bit on Bankroll Management today but I am new this site and I am not sure exactly how to get my blog in the main erea where anyone can read it if they like? I hope that this is the right one.
Well last month i wrote on about a prop bet that i have with a friend that i can turn $100 into $10,000 the original bet was 20 dollars into 10k but since i only have 2 months we both decided that i can start with a 100. Well I am a little over a month into the bet and i have built my bankroll to just around $6,670.98. Now before I started this bet i thought that i knew all about banroll managament but i was completely wrong. I got advice from quite a few people some good and some bad.
So one nite i was brain storming on the best statagy for me to win this bet.
Now for those of yous who have not read my last post about this i will explain the rules for this bet.
I can not re-deposit
I can not play in low-stake games no bigger than $1/$2 N.L. or pot limit omaha hi and hi/lo
I can not play in any sit'n'gos with more than 10 players and buy-ins no bigger than $20
If i lose my money i lose i have one chance thats it

Now this may seem like a suckers bet and to be honest with you before i figured out the best statagy and bankroll managament it was.


So I am going to let everyone in on my secret well actually my statagy

First thing that i found to help me triple my money very quickly was
I would play in a heads up sit'n'go for $20 and also play in a six man sit'n'go buy-in $20. I multi-table. Now how this is very effective when playing in a head up session it is fast action so i am mainly paying more attention
and as for the six man sit'n'go I am folding alot of hands that i normaly play so now i have an extremely tight image and when you play in any poker game tourny or ring you want to set a tone for instince you either want a tight image or a loose/aggressive image that is key.

So now I am playing both tourny's blinds are getting higher and before i no it there are only 4 players left in the six man tourny and since i have a tight image when ever i bet they fold i do this to steal the blinds to keep me in the game

So now i win my heads up session and now I am freerolling because if i don't cash i brake even so i play more relaxed and more confident.. Follow me?

So now i need to build some chips up so I am not blinded out. And here is where my tight image is an advantage for me.

Now i have enough chips to continue my tight image and when there are 3 of us left i start to unleash not play stupid but start to confuse them i check and resaise them and when the next player is out he's the bubble boy and most player's tend to play extremely tight where I have already doubled my money so i take advantage of that. And before I know it I am in the money and we are heads up my oponent thinks I am very tight/passive and when i start to play more hands re-raise him he is all confused gets him off his game and BOOM I win that tournament.

So i win $40 dollars on the heads up and win $78 dollars in the six man tourny so i win $102 minus my buy-ins of course.

Now with the $100 i just won i take 50 dollars and play at $1/$2 N.L. ring game table with 6 players cause I am a short handed specialist. And as soon as i get up to 150 dollars i play until the button comes to me and i leave unless the table in filled with donkeys even still I need to build my money up quick. When you set a limit and you stick to it you will find out that it works wonders. Don't get me wrong it is not like i havent had a losing session cause i have many and where i what i do when this accurs

I take a break cause playing on tilt is only going to cause you to make stupid mental mistakes and when i feel that i am off tilt i begin to play again

So now i win another $100 dollar's in the ring game

I get into a 4 man heads up sit'n'go winner takes all for $20 dollars
I actually won 7 of those in a row believe it or not

Now since i only have very little time i must put alot of hours in and by doing so my game went to a whole different level.

At the end of the nite i take count of my winnings or losings

If i had a winnig day i calculate on how much more i need to reach my goal and i figure a plan on how much i need to win to keep pace
Now if i have a losing day witch will never be 10% of my Bankroll but i figure out what i need to win and how much i need to play with to keep pace

Sorry I know alot of you reading this is thinking how does this have anything to do with Bankroll Management well in away it does but what i have writin is mainly to explain the best way to build your money.


O.K. so for Bankroll managament first obvious rule never get in any game that is more than 10% of your B.R.

find a stake that you are comftable with say like $2/$5 N.L. same with any game. And just because you have a few good weeks or months you think your ready to move up in stakes that is where alot people go broke. Also if you are winning money at these stakes why leave. Rule of thumb only jump up stakes when you have well say you deposited 100 dollars in ur account and you have been playing the same stakes for awhile and you feel that these stakes are way to easy and the action is no longer fun plus you have built your B.R. enough to if you jump up in stakes you have enough money in your account to take a few bad sessions and never ever be imberrassed to go back to the lower stakes remember don't care what people think or say it is your money not theres

Aslo this is very important before you open an account on a site do your home work you want to find the best site that for one is trusted,has the best promotion such a 100% first time deposit match and also read how many points you need to start to collect them and how much they credit at a time and if there is a time frame. Also you always want a rakeback because these site rape you on there rakes and last but not least see what the min. and max for making a withdraw and if there are any fee's sor every withdraw you make.

Now remember one thing these sites are on here to make money and they now that players are going to play well above there B.R. in order to collect points for there deposit match and also there rakeback.

So just play your normal limits pretend that there are no promotions or rake back and if you do this i promise that this work out better for you instead of finding ur self constantly depositing. To be perfectly honest with you the only players that really make out on the rakebacks are the higher stake players where there rakes are always the max of 3 dollars and the multi-table and play 11 hr session don't get me wrong getting an extra 20 dollars in your account is great but most players may only get 6 dollars.

Also alot of people do not completely understand the way rakeback works so i will tell you

If you are in a hand and you muck with no money invested then you do not receive a rakeback for that round. Also say you are in a hand and you have say .75 cents invested and you fold and theres other players playing the hand you do not receive full rakeback they caculate how much you have invested in each hand and that is how they determain how much of a rakeback you will receive. So now that i told you that do not start playing every hand to show down to get all of the 30% rakeback or whatever the % is that is what the sites want you to do just stick to your game and think of it as just a little extra money for your time.

Well I hope i explained everything OK I am a little rushed since I am in vegas for the WSOP

If anyone has any questions or ideas please reply

thank you

[maxd]

... for anyone that plays poker online or live you know how important Bankroll management is.

Since this really had nothing to do with the thread you originally posted it in I have moved it.

[maxd]

And yes, you are much better off creating a blog to post this kind of stuff than posting it in the forums. FYI I have just written some instructions on how to do that: How to create a blog (and related issues). Fill your boots!