Bankroll Management - Basic
One of the fundamentals that most people either overlook or do not fully understand is the importance of good Bankroll Management, when you play poker you need to have a bankroll that matches both your style of play and the limits you are playing at for example you cannot expect to make much money consistently with a Bankroll of only $50 if you are sitting and 50cent/$1 tables and have an aggressive nature to your play.
Like anything you have to grasp the basics of bankroll management before you think about the more Advanced concepts behind it, Poker is a volatile game. The chance is, that if you are a new inexperienced player you will quickly learn that with the fast pace of the current internet game, losses can come as thick and fast as the earnings. If you are new to the game the only advise I can offer is to try and minimise the amount you lose by playing at the lowest limits possible, this then allows you to get to grips with the game while only loosing a little bit of money, However if you make money during this period that is a bonus.
It is not solely new players that struggle with the concept of good bankroll management however; more experienced players have the same problems. Players tend to fall into the trap of playing at a certain limit for say a week or so, they may be winning at that limit and have built them selves up a bit more on there bankroll. These players then think that it is ok to move up a limit as it can potentially make you more money and faster.
Although this does seem very intriguing can I stress that you do not fall into the same trap, as this system is floored the players that have started to become successful at one limit more often than not haven’t even got a sufficient bankroll for that limit, not to mention raising the limit and also the buy-in needed for the new limit. This eventually means that players start to move up to limits and put there whole bankroll into one table, once your luck runs out this method will ultimately end in you loosing your entire bankroll.
The second reason I would advise against this is if you yourself haven’t been playing the game for long and are down at a poker rooms micro limits the general skill level of the players around you will be similar or worse than your current level, meaning that you can hold your own. However the moment you move up a limit the general skill level of the players at that limit tends to increase as well.
This means that not only will you be stretching you bankroll by moving up a limit you will be stretching you own ability which will eventually end up in the total loss of you entire bankroll, which for a player intending to try and make a living at the game is a total disaster.
To avoid these downfalls you should try to play a limit that not only your bankroll can handle but also a limit where you can hold your own and you are not being consistently out played to play at a limit I would recommend that you bankroll can cover 100 big blinds for that limit so for example if you are playing at 25/50 cent you should have a bankroll of at least $50.
Part 2 - Bankroll Managment Turning Pro
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