This supercedes posts #12, #16 & #20 ...
Aw gee, I respectfully request a do-over post…I have a tendency to recall nearly everything I’ve read, seen or heard…it is a blessing & a curse -- it’s a blessing because in school & @ work peeps thought I was smart (when in actuality I’m not truly that smart, I just happen to remember stuff)…it is a curse when I want to locate the reference for what I’ve read, seen, or heard & it will bug me until I do locate the source (sigh)…
Anyway I found my copy of Million Dollar Hold‘em: Limit Cash Games
…I stand corrected, I attributed a currently unidentified bankroll management recommendation of leave @ ‘2x buy-in profit or 50% buy-in loss’ to Johnny Chan. What JC was suggesting pertains to overall bankroll mgmt.
According to JC, for those who’s sole income = poker, he suggests having 2 bankrolls -- poker & nest egg for paying living expenses (ie: groceries, mortgage, vacation, movies, etc…); when one’s bankroll doubles, take 50% to contribute towards ‘nest egg’ & the remaining 50% to be applied to establish a new poker bankroll level:
- If current poker bankroll = $10K: when poker bankroll = $20K, apply $5K to ‘nest egg,’ & remaining $5K apply to poker bankroll for an increased balance = $15k (to move up in stakes accordingly).
JC emphasizes having 2 separate bankrolls to avoid peeps going broke, he has seen so many folks deplete the poker bankroll to pay living expenses.
Now that is corrected & the hijack is completed, let me get back to addressing the OP. I am unable to locate the article that suggested leave @ ‘2x buy-in profit or 50% buy-in loss’ & the reasoning(s) for the suggestion; it was a mag article that I had ripped out to specifically save & now it’s MIA. I’m thinking it may be from Poker Pro
& I’m not able to access their online archive copies right now but it would have been from 2007...if & when I’m able to locate the darn article I will post it here.
Because I am a recreational player in b&ms ($3/$6 & $4/$8 sometimes with Full Kill) I do not adhere to strict guidelines….I tend to stay as long as the game is good & will leave when the seat goes cold or the table breaks; leaving = physically walking out of the building with Elvis or going to another table (or going to play video keno which has been a major source of funding for my poker bankroll ). In addition to being aware of the amt I have on the table, I’ll mentally cap the amt I’m willing to lose (the amt I’m willing to win has no cap ).
Granted a bankroll being used for $3/$6 & $4/$8 Limit is not @ as much risk as a bankroll being used for $2/$5 & $5/$10 NLH…from my perspective, if the intent is to move up in stakes, a disciplined approach should be used when deciding to leave a cash table -- what that approach is I have yet to establish for myself but here’s a link to some peeps who do have an idea:
YouTube- Poker Roundtable: Knowing when to quit