I need bankroll management tips

[JimboJim]

I'm on a very limited bankroll right now and I can't seem to make it increase. I seem to place in 1 out of 3 tournaments and win about 1 out of 5 yet my bank still doesn't go anywhere. The other day I had about $14 in my bank. I had a superb day placing in almost every $1 sit-n-go I was in. I ended up with about $65 by the end of the day. By the end of the next day I was down to $20 finishing with approx. the stats given above. I usually enter the same tournaments every time. I cant see where the money is going.

I am starting a tally today with exactly what tournaments I enter with my results. Maybe I'll figure out where it's going but I still want whatever tips anyone has to keep my winnings.

 

[Welly]

I written some general bankroll management advice here ----->

https://www.cardschat.com/showthread.php?t=71029 (this is mainly for ring games)


Generally with tournament-play the problem you describe is because people are too concerned about just getting to the money. (ie limping over the 'finish' line). Even with a very high ITM%, there is no profit to be made in doing this (unless you are lucky and hit a very hot streak straight after the bubble).

It is better to have a lower ITM% and make more final tables, than to have a high ITM% but low number of final tables. The main way to do this is to be more aggressive in the general lead up to the bubble (even as far away as an hour from the bubble).

In the SNG sense this means lower ITM% but more 1st places. Not being afraid to go out in 4th place.

Good Luck

Welly

 

[JimboJim]

it all depends on how I'm doing when I'm on the bubble. If I'm having a horrible game and been trying to stay alive I'll try to linp in just to break even. If I'm have a good game I'll go for 1 even if I am on the bubble from a bad beat or bad call. When it gets down to the money I'm usuall on top or on bottom. I find myself a very good bubble player so I'm not afraid to take risks early on and try to get a good chip lead. If I don't I'm still probably going to just place.

 

[Jack Daniels]

The link in Welly's post above is an excellent place for you to start. And I can't stress the importance of records, records, records. Gotta keep records. Of EVERYTHING. All wins, all loses, as much detail as you can bear, really. In your case, especially, when you say you don't know where the money is going, having these records will show you every dollar going out as buyin/entry fee and every dollar coming in from placing. In addition to all kinds of other stats you may wish to look at, it would also be very beneficial for you to keep an overall average of tournament winnings for the longer term. Simply put, since you don't place in every tourney (no one does), if you see your long term average payout dip close to or below the average buyin/fee, you've got some work to do.

Anyway, that's my 2 cents.

 

[JimboJim]

I just started keeping detailed records today. Thanks a lot.