It's definitely a confidence issue. I think part of it comes from the time I ran my bankroll down from an all time high to about $90 chasing the PS $4.40x180 SNGs.
The funny thing is that, at least for tournaments, I've always played at the $5.50 level. I've probably played 5 or 6 $11 tournaments and I'm a net winner.
Another part is that I've committed to myself that I'm never making another deposit at PS. The last one I made was probably four or five years ago. Since then I've taken all my original money out and then some. At this point, my bankroll (adjusted for withdrawals) is the highest it's ever been.
Originally Posted by D'wilius
I'd have no trouble playing for 10x as much live
I'm the same way here. I have no problem sitting down at a 1/2 NL live table with $100+ in front of me.
Posting this thread has caused me to take a closer look at my situation. I think I have a solution that will work for me. It's a little weird but for someone as anal as me, weird is the norm.
I am no longer concerned about my bankroll. I no longer need to look at it.
In November, I set up a spreadsheet to help me track how I'm doing with the NL ring games. I had an opening balance of $10 and started playing .01/.02 NL. If I lost the $10, I would stop and evaluate whether or not I wanted to continue playing NL. I took it a step further and decided that when I hit a certain balance, I'll step up to a higher level in the NL ring games (now .10/.25 NL).
For some reason, it never occurred to me to do the same thing with my SNGs - until last night.
I now have a spreadsheet with an opening balance of $50 (a small piece of my bankroll) just for single table SNGs. This is what I'm prepared to lose, for now.
I now have to determine the level at which I will switch to $11 SNGs. I'm thinking 20X the buyin or $220. When my balance reaches that level, I automatically switch. There is no decision for me to make. If I take the $220 back to 5x the buyin ($55) I switch back to $5.50. Again, no decision for me to make.
By taking this approach, I just need to look at my spreadsheet and not the PS account balance.
By the way, did I mention that I'm extremely anal?