should i continue playing poker? lost my bankroll 3 times but broken

[sonic pwr]

I started playing poker online in january and turned $50 into $500 in about 1 month playing pot limit omaha and holdem on poker stars, bodog, and full tilt. (i wisely cashed out) The previous month for me has been full of bad beats, bad decisions, and severe tilting. After depositing $100 on bodog, i made it up to $700 in a week (playing 5-10 cent holden and 10-25 cent potlimit omaha and low limits Sng's) and lost it all on one day due to severe tilt, playing at limits beyond my control, and not stopping when I should have. A few days after I lost the $700 I redeposited on bodog $50 and turned in into $200 before losing it all again due to severe tilt. I stopped playing for a week but I knew I wanted to play again and I knew I could win back all the profit I lost. So I deposited another $50 on bodog and in two days I turned it into $275. However on the third day I lost it all because I kept going on to higher limits in order to regain my bankroll fast. (i know I was making a mistake by doing this but I couldnt control myself) Indeed I lost it all on a bad run of cards. I stopped playing for 3 months and recently deposited $100 on full tilt. In 3 days I turned the $100 into $500 by playing sit n goes holdem on full tilt. (note: i was playing 5 dollar Sng's heads up winning about 20/25 times) A few days ago I decided to test out the no-limit omaha tables on full tilt. After 2 bad beats costing me $50 each, i went a higher limit and bought in for my remaining bankroll. I lost a $1100 pot in which I was leading until the river. My problem is I do not know when to stop playing. I perfectly well understand the mistakes I am making and now I understand the consequences of severe tilt. I have an urge to redeposit on full tilt. Should I? Overall I actually have not lost money playing poker online. I am probably up by $150-$250. But I keep turning small amounts of money ($50-100) into larger amounts and squandering it away due to terrible decisions and tilt. Right now I feel determined to deposit $50 into full tilt, and focus, concentrate, and remain in control of my actions. I want to turn my $50 into +$1000. Should I attempt this again? or is it simply not for me? I know I am an above average poker player with terrible bankroll management. what should i do?

 

[KingNothing4]

wow sounds like me except not near as much money! i have the same problem with not knowing when to quit even though i am aware of everything going on including tilt, but i keep going...so i think if u r sure u will control urself, u sound like u could make some profit playing poker, just be smarter bout it, im sure u can do it.

 

[wsorbust]

Sometimes it's best not to make quick judgments. Wait a few months and if you feel the same way, then promise yourself to stick to BR management. If you don't and can't keep to a strategy where you can profit from you game, you'll know it'll be time to quit.

 

[OzExorcist]

Sounds like you know what the right thing to do is, but you just can't bring yourself to do it.

Maybe the Chris Ferguson plan is for you - try building a bankroll from nothing. If you lose it all then... well, you started with nothing anyway, so no harm done. But along the way, you learn the value of the money you do win.

 

[sonic pwr]

in regards to my bankroll

as mentioned in my post i deposited a total on 3 times. however, 1 time i received a $10 instant bonus from bodog and i acutally turned it into about $220 in 1-2 days. But i lost it all similarily to how i lost my other profits. i had read all about chris fergusons bankroll management and i poker-wise i know i am making severe mistakes for terribly handling my bankroll. however, i also know that i am a much better than average poker player, infact, i am actually rated as a shark on one poker site, the problem is sometimes after turning $50 into $250, i cant get myself to stop playing when i should be, cuz i want to win more and more, (although eventually i will stop when i am sleepy) and other times i will be keep playing until i reach my goal, heres an example of what happened to me-- my goal was to reach $250 and i was at $248, i registered for a 6 dollar turbo SNG, the opponent i was playing against was apparently drunk, he was rasing every single hand (in omaha) and railing at me in the chat box, eventually i called him with aces up with 2-3, and flopped top set, i check, he raises, i reraise allin, he insta calls with nothing, he had a bunch of cards in a row double suited, however he runner runners a flush to take the pot, at that point i was cripled cuz its headsup and the next hand i lost the tourny, at that point i was down to $242 and i was steaming from how this drunk guy could beat me, i decided to play double my limits SNG ($12), and this time the same exact @@@@ happens to me, lost in all this time to a flush on the river with top set, now i was really angry and started playing no limit omaha, after a couple hands i was allin with great cards but lost to guys who called me down on flush draws, i could go on and on, but the point is, i lost all my bankroll because i couldnt control myself, and i could be satisfied with not reaching $250, i was 2 dollars short of my goal, and now it cost me big time, i am @@@@@@@ idiot for being a @@@@@@@ stupid person and making terrible decisions, i feel i have betrayed myself, and now i am more determined than ever to overcome this and to properly manage my bankroll, hopefully i will NEVER do what i did these prior 3 times

 

[BabyShoes]

Easy answer - Keep playing, obviously.

You clearly love poker, so why even entertain thoughts of quitting?

It's time for a strategy change, not a change of sport...

 

[Egon Towst]

i know i am making severe mistakes for terribly handling my bankroll. however, i also know that i am a much better than average poker player,

I don`t want to seem rude, but you are kidding yourself. Good players win long-term. You are a short term winner but a long term loser.

Bankroll management is just as much a key skill at poker as are calculating odds, putting the opponent on a range of hands, and many of the other things we talk about here at CC.

By your own admission, you cannot deliver on this key requirement of a good player.

What you are effectively saying is, "I must be a good driver, because I keep my car on the road right up until the crash."

I`m sorry, that`s not how it works. You need to be harsh with yourself and develop a realistic assessment of the level you are at and the steps you need to take to fix the hole(s) in your game.

 

[Chris_TC]

After depositing $100 on bodog, i made it up to $700 in a week
(...)
lost it all on one day
(...)
I deposited another $50 on bodog and in two days I turned it into $275.
(...)
on the third day I lost it all
(...)
In 3 days I turned the $100 into $500
(...)
i went a higher limit and bought in for my remaining bankroll.

Please read and find the error. If you lose your entire bankroll in a single day then you obviously don't have any bankroll management whatsoever.

"I couldn't control myself" - if you can only control yourself when you're lucky enough to quintuple up in 2 or 3 days but you lose control* when you get unlucky then poker isn't the game for you.

*we all get affected by bad beats on some level, but I have yet to be dumb enough to buy into a game for my entire bankroll to win back some money I lost.

 

[pigpen02]

I can't help but wonder if OP is truthful or if this is an effort at a quality post. Bankroll management this poor is beyond belief.

 

[Leebold05]

Sounds like you play aggresively and can gain/lose chips quickly. Use your aggressiveness when you get on a roll and know when to back down when the cards go south.

 

[sonic pwr]

i actually play tight aggressive, i did redeposit today $70 and currently am sitting at $120 after 45 mins playing sit-n-goes on poker stars. i am going to take a break now for a day

 

[mizzo5678]

You had mentioned you set a goal for yourself to reach and it seems as though you will play until you either reach it or go broke. My suggestion would be set a money lost point, if you reach a point were you are down say $25 then it's time to stop and let it go for the day, allow yourself time to get level headed again. You need to recognize the signs that you are on tilt and TURN OFF YOUR COMPUTER!!!

 

[Tygran]

i actually play tight aggressive, i did redeposit today $70 and currently am sitting at $120 after 45 mins playing sit-n-goes on poker stars. i am going to take a break now for a day

up $50 in 45 minutes playing sng's with a $70 bankroll??

What limit and how many tables? You either just got really lucky in the last 45 minutes playing at a buyin level way too high or you are multi tabling 6+ tables.

Best advice I can give you and it's been echoed alot in this thread is learn how to manage your bankroll. don't do *anything* else until you get this down.

 

[Dorkus Malorkus]

Stop playing poker for a month just to see if you can stop playing poker for a month. I say this for two reasons -

1) Because you sound like a borderline compulsive gambler. At least if you can go without playing for a month the probability of this being the case will be significantly lower and I for one would feel more comfortable encouraging you to play.

2) So you can use the time you would have been playing poker in the relevant month to read up on poker theory, strategy, and bankroll management.

 

[pkrplr4116]

I see huge signs of addiction

I just read your blog, "Should I Continue to Play?" In your description of your tiliting, your chasing your losses and playing more than you knew you should, I read a blog that is a casebook blog of gambling addiction. I'm not just the pot calling the kettle back. Really, I'm not. I spent nearly a year in a rehab in the 1980s for cocaine addiction. I no longer do any drugs, nor do I drink. However, I know I have substituted online poker for those addictions. What do I do to try to limit how much time and how much money I risk? it's simple I still go to meetings. Going to meetings gives me perspective on my addiction, keeps me emotionally centered and if I feel like my online playing is getting out of control, I bump up the number of meetings I go to. IT WORKS. Also, I spend a lot of time in poker forums. typing and commenting on blogs and reading strategies. Force yourself to get really into several forums. By keeping busy in freerolls, $1 buy-in tourneys and such, you'll cut down on the amount you spend and you'll get caught up in the forums' activities to the point you actually enjoy it. Not the exclusion of playing online, but the game itself will have less importance to you since you're really interacting with the people. You'd be amazed at how much time you'll WANT TO SPEND participating here and other forums...so much so, you'll play less. anyway, if you want to PM me, I'd be glad to chat with you.

 

[NineLions]

up $50 in 45 minutes playing sng's with a $70 bankroll??

What limit and how many tables? You either just got really lucky in the last 45 minutes playing at a buyin level way too high or you are multi tabling 6+ tables.

^^^
|||| Seconded.

Best advice I can give you and it's been echoed alot in this thread is learn how to manage your bankroll. don't do *anything* else until you get this down.

^^^
|||| Seconded again.

 

[sonic pwr]

in regards to redeposit

i was 3-4 tabling as usual (usually two 9 person tournys buyin under $5 and 2 heads up buyin under $5) i acutally profited $49.25 in 43 minutes of playing. that is the way i usally fare when i am playing poker (i usally make $25-30 in a bad hour, $30-40 in a good hour, and +$40 in a great hour), i usally make money at a rather quick rate, but squander it off within minutes after a bad beat, but now i am more focused, determined than ever before to NOT repeat the same mistakes I made earlier and TO manage my bankroll properly, i know i am such a @@@@@@@ idiot for throwing away my bankroll and hopefully I will NEVER do that again.

 

[Chris_TC]

(i usally make $25-30 in a bad hour, $30-40 in a good hour, and +$40 in a great hour)

4-tabling $5 SNGs? Uh, no. I don't think so. This may be possible in the very short run (say over a duration of 20-40 tournaments) but it's not even close to a realistic average.

 

[Tygran]

i was 3-4 tabling as usual (usually two 9 person tournys buyin under $5 and 2 heads up buyin under $5) i acutally profited $49.25 in 43 minutes of playing. that is the way i usally fare when i am playing poker (i usally make $25-30 in a bad hour, $30-40 in a good hour, and +$40 in a great hour), i usally make money at a rather quick rate, but squander it off within minutes after a bad beat, but now i am more focused, determined than ever before to NOT repeat the same mistakes I made earlier and TO manage my bankroll properly, i know i am such a @@@@@@@ idiot for throwing away my bankroll and hopefully I will NEVER do that again.

If you continue playing poker in this fashion I can virtually assure you that you will throw it away again. Online heads up tables are the closest version of poker to just playing slots or roulette you will find...luck dominates the most there. The more you let luck dominate the more swings and busts you will have in your stack.

Not trying to sound all doom and gloom but you need to back up and reevaluate your approach to poker. You need to learn to pay more attention to a table and everything that goes on at it even on hands you folded preflop on. If you go to some other table and ignore the hands you don't directly participate in you miss out on so much information about your opponents. You simply cannot expect to be a good poker player if you do this. I emphasize this because I just don't buy that it's possible to pay enough attention to everything going on at that many tables (2 of them heads up no less!) at one time.

Wish you the best man.

 

[CromMitra]

just keep playing...recognize your mistakes and try to eliminate them as they come up....it becomes easier with experience.if you keep making the same mistakes with no corrections live with it or then find a new game to play

 

[wsorbust]

I take back the previous post. Quit. It's not worth it. You obviously are horrible at this game. Try BINGO.

 

[jeffred1111]

If you continue playing poker in this fashion I can virtually assure you that you will throw it away again. Online heads up tables are the closest version of poker to just playing slots or roulette you will find...luck dominates the most there. The more you let luck dominate the more swings and busts you will have in your stack.

No, there are many examples of people with almost no swings in the long term playing strictly HU SNG's. Your edge might not be big, but saying that it's pure luck is ignorance.

As far as OP goes, you sound like you have gambling and/or lying problems because if you really make 20-25$/ hour in a BAD hour, playing micro SNGs, I'll eat a nice size hat of your choice.

 

[unlucky79]

For starters stay away from the ring games as the swings are to heavy for a 50 dollar starting roll. Second take a break and tell yourself you will not Donk it all away. 3rd have self control or you will lose your ass everytime in poker. 4th to make money on the reg play the game you have the most success at and no other games until your BR supports it. Best of Luck and I hope you tear it up at the tables..

 

[bubbasbestbabe]

Give your wife contro; of the bankroll. Have her check with you every once in a while when playing and when your bankroll hits whatever she decides, let her take it out. Problem solved.

 

[Chiefer]

i was 3-4 tabling as usual (usually two 9 person tournys buyin under $5 and 2 heads up buyin under $5) i acutally profited $49.25 in 43 minutes of playing. that is the way i usally fare when i am playing poker (i usally make $25-30 in a bad hour, $30-40 in a good hour, and +$40 in a great hour

are you playing turbo's because any sit and go that i've played last and hour or more.