This is a discussion on Cash out strategy within the online poker forums, in the Learning Poker section; I am currently playing micro stakes mtt's and my ROI is about 25% but I don't consider it accurate because I didn't play a lot
I am currently playing micro stakes mtt's and my ROI is about 25% but I don't consider it accurate because I didn't play a lot of games. I have a good bankroll management that it's working great. However I don't have a cash out strategy. I want to set some rules to cash out so I can reach the amount to buy the Raise Your Edge apprentice masterclass course so I can improve while I also increase my bankroll. Currently I am watching videos and read stuff so I can improve constantly but I also want to get that course. How do you guys do it? Any advice?
Thank you all.
It depends on whether your goal is to grind your current stakes, or to move up. If you feel comfortable where you are now, all you have to do is set a limit value for how much you always want to have in your bankroll, i.e. for MTTs you probably want around 100 buy-ins minimum. Any extra money on top of that is free to withdraw.
But if you want to try to rank up a bit, cashing out should not be a priority, unless you hit a particularly big win and have excess cash that you don't intend to use. Your objective at that point is just to reach a bankroll that allows you to play at your goal stakes.
Do you want to move up stakes or do you want to withdraw steadily? It depends on your goal so you get to decide. One of the beauties of poker is independence so you can set your own goals and limits. As an example for withdrawing, you could withdraw a percentage of your buy-in so you withdraw based on volume of games and not results.
I'm in the same boat, I want to leave all my winnings in until I can afford to buy RYE and PT4. My plan is to get to around $2000 so I can purchase both while leaving my buy-ins around $5-10 so I'm still around 1:100. It just depends on how big of buy-ins you want to keep playing at so picking an exact amount is still up to you.
There are 2 separate issues:
1) where to keep the bankroll
2) if to spend the bankroll
part 2) is entirely up to you; logically if you reduce your bankroll by spending some, the maximum buy-in goes down.
Poker rooms are not banks, there are no government guarantees.
Typically, bank are much more secure than poker room with respect to saving your money.
Depending the cost of transfer between bank and poker room, a larger part of your bankroom should be in a bank, rather than at the poker room.
I set aside a specific percentage of each win to cash out and do so at the end of each month. Of that I split my cashed out funds to different things I want to put some money toward like family stuff, live games, retirement, and charity contributions.
There are a lot of different ways to do it out there, you just need to find a way that works for you based on what your goals are.