shootwillus
Enthusiast
Silver Level
This going to sound odd...but winning is my biggest leak. Before I begin to sound too arrogant, I'll explain. I began my poker journey in late may. I have been playing steadily since then. I've taken the time to read some books and watch a lot of televised poker.
When I first began, i had never even heard of bankroll management. I invested $75 into Ultimate Bet and within two weeks I had that up to around $650. I was playing 100NL and a little 200NL. Week three saw my bankroll reduced to $0.
I was however encouraged by my success. If I can turn $75 into $650 by some magical online button pushing in my spare time...well, I must have immense talent and should definitely look into this thing.
Ok...since that time I have made no less than 5 or 6 investments of $100. Without fail I would turn that $100 into somewhere in the range of $300-$600 in a matter of one or two days. Day three I would lose the whole damm thing.
So...continuing to ignore the notion of bank roll management, I instead attempted to look at my play this way : 1.) invest money 2.) make money 3.) lose all money. Ok, lets get rid of step number three. But how?
Well, I examined my game, and...i think that there were some issues with my play. I definitely got looser as I won more money. I did play drunk once. Other times I would play exhausted. Ok, great...eliminate these leaks and move on.
Didn't work (not that these arent good leaks to rid oneself of). So after some more money gained and lost...I have come to the conclusion that success is my biggest leak.
If I had deposited that first $75 and lost it all on a coin toss, I'd have probably started looking into what the hell is wrong immediately. Unfortunately, I kept winning (and subsequently losing). This presented an alluring pattern. It also made me feel like a guy who can win at poker. If I think about how much I have lost...its got to be near $10,000. This is not how much I've invested from my actual wages...its how much has slipped through my fingers with my record of big wins and subsequent defeats.
So now, here I sit...re thinking this whole thing. So, I cannot give up poker because I have discovered that I really love this hobby. However, I want this hobby to stop costing me so damm much
Ok, its time for some serious BRM. I hate BRM. Why do I hate Bankroll management...because a $100 dollar buy in entitles you to play 2NL. 2NL sucks. I win a hand and its .20 cents....what in the hell!!! How can anyone enjoy this!!!
Another thought: Casino players and a lot of the guys you see on TV probably didnt practice BRM at first. They couldnt. You cant play less than $1/$2 at a casino. You need $4000 to play this according to BRM. Most people don't start playing with a $4000 roll. I suppose a lot of those folks on TV played over their bank roll, made some big scores...and adopted BRM later on.
Great...i wanted to do this as well. So, I lost a few hundred more.
Back to BRM. So, I have now had it with my previously stated assertions. I will take the good advice that is readily available and practice good BRM, even if it kills me!
Starting last night I was multi-tabling 2NL with my new $100 bankroll. You know what, I still hate the small gains, they suck. However, I love the small losses!! They rule!!. I can feel comfortable going all in on hands that I never would have at the larger limits with the same roll. If I lose its only $5. It lets you play a more complete game because you can withstand the losses. I'd never want to put my entire roll at risk if I knew I was a 60% favorite, but, I'de put %5 of my roll up any day at those odds.
So...I am convinced. The BRM campaign has started. However, in order to make myself feel better, I may make additional investments in order to increase my bankroll. I'd like to get it up to around $500 so I can play 25NL (it just feels a little more like real money). But, I will never ever ever again put more than 1/20th of my roll at any ring game ever ever again (no matter how drunk I am).
Anyway, I am posting this for two reasons.
1.) If there is someone reading this who is thinking "hey, this sounds a lot like me"...my advice is get on the BRM horse sooner than I have.
2.) This is cathartic. Out with the old, in with the new. Shake out the cobwebs and lets get the new program underway. When you write it down for the whole world to see, it feels officially binding.
When I first began, i had never even heard of bankroll management. I invested $75 into Ultimate Bet and within two weeks I had that up to around $650. I was playing 100NL and a little 200NL. Week three saw my bankroll reduced to $0.
I was however encouraged by my success. If I can turn $75 into $650 by some magical online button pushing in my spare time...well, I must have immense talent and should definitely look into this thing.
Ok...since that time I have made no less than 5 or 6 investments of $100. Without fail I would turn that $100 into somewhere in the range of $300-$600 in a matter of one or two days. Day three I would lose the whole damm thing.
So...continuing to ignore the notion of bank roll management, I instead attempted to look at my play this way : 1.) invest money 2.) make money 3.) lose all money. Ok, lets get rid of step number three. But how?
Well, I examined my game, and...i think that there were some issues with my play. I definitely got looser as I won more money. I did play drunk once. Other times I would play exhausted. Ok, great...eliminate these leaks and move on.
Didn't work (not that these arent good leaks to rid oneself of). So after some more money gained and lost...I have come to the conclusion that success is my biggest leak.
If I had deposited that first $75 and lost it all on a coin toss, I'd have probably started looking into what the hell is wrong immediately. Unfortunately, I kept winning (and subsequently losing). This presented an alluring pattern. It also made me feel like a guy who can win at poker. If I think about how much I have lost...its got to be near $10,000. This is not how much I've invested from my actual wages...its how much has slipped through my fingers with my record of big wins and subsequent defeats.
So now, here I sit...re thinking this whole thing. So, I cannot give up poker because I have discovered that I really love this hobby. However, I want this hobby to stop costing me so damm much
Ok, its time for some serious BRM. I hate BRM. Why do I hate Bankroll management...because a $100 dollar buy in entitles you to play 2NL. 2NL sucks. I win a hand and its .20 cents....what in the hell!!! How can anyone enjoy this!!!
Another thought: Casino players and a lot of the guys you see on TV probably didnt practice BRM at first. They couldnt. You cant play less than $1/$2 at a casino. You need $4000 to play this according to BRM. Most people don't start playing with a $4000 roll. I suppose a lot of those folks on TV played over their bank roll, made some big scores...and adopted BRM later on.
Great...i wanted to do this as well. So, I lost a few hundred more.
Back to BRM. So, I have now had it with my previously stated assertions. I will take the good advice that is readily available and practice good BRM, even if it kills me!
Starting last night I was multi-tabling 2NL with my new $100 bankroll. You know what, I still hate the small gains, they suck. However, I love the small losses!! They rule!!. I can feel comfortable going all in on hands that I never would have at the larger limits with the same roll. If I lose its only $5. It lets you play a more complete game because you can withstand the losses. I'd never want to put my entire roll at risk if I knew I was a 60% favorite, but, I'de put %5 of my roll up any day at those odds.
So...I am convinced. The BRM campaign has started. However, in order to make myself feel better, I may make additional investments in order to increase my bankroll. I'd like to get it up to around $500 so I can play 25NL (it just feels a little more like real money). But, I will never ever ever again put more than 1/20th of my roll at any ring game ever ever again (no matter how drunk I am).
Anyway, I am posting this for two reasons.
1.) If there is someone reading this who is thinking "hey, this sounds a lot like me"...my advice is get on the BRM horse sooner than I have.
2.) This is cathartic. Out with the old, in with the new. Shake out the cobwebs and lets get the new program underway. When you write it down for the whole world to see, it feels officially binding.