How to deal with bankroll phobia?

[Lheticus]

So, I've heard a lot about people who lose their bankrolls way too easily. Me, I have the opposite problem--I'm terrified to use my bankroll in a way that would genuinely constitute risk at all.

Ironically enough, the existence of the CC freerolls have majorly enabled this problem. They're very good quality games, and I'm like, if I can make money that way why should I actually risk money? Then I'm like, but I need to make money faster because I want the freedom that comes from going pro.

...And then my train of thought simply derails. Anyone got helpful thoughts for me?

 

[DIANTA]

Dear friend.
Bankroll fobia is a grate thing. How many good players lose theirs money because of tilt. Fobia means contrary to tilt. I wish I could be in your place. Sorry, but I have just nothing more to add.

 

[finaltable1]

Just increase your real world income. I believe that you're not scared to play 10cent SNGs with your current bankroll? Because of 2 reasons - it's cheap and safe for the bankroll and at the same time cheap and safe for your mental projection of what "money-time" means to you. 215$ buy-in might not be safe for some $1K bankroll, but might be safe if your weekly salary is maybe $4K. You're taking risks that you can afford. And your point of view on your growth can either be based on your bankroll or on your real life atmosphere. If you'll leave alone real life worries and concentrate on poker bankroll and poker as a game that requires bankroll then it will be easier to establish the progress. After all bankroll at the poker site is nothing else but virtual instrument until you press that cashout button.

 

[Fivefor]

Bankroll management

There are lots of articles that you can read on this topic from all sorts of people including professional poker players.
Start here and then just google more if you need to read more opinions:

https://www.pokerstarsschool.com/lessons/poker-bankroll-management/

 

[Lucky_Shark]

You need to learn the game while playing freerolls. And have a conservative BRM = 500-1000 BI. You can also try your hand at $ 0.25 on PS.

 

[MattRyder]

So, I've heard a lot about people who lose their bankrolls way too easily. Me, I have the opposite problem--I'm terrified to use my bankroll in a way that would genuinely constitute risk at all.

Ironically enough, the existence of the CC Freerolls have majorly enabled this problem. They're very good quality games, and I'm like, if I can make money that way why should I actually risk money? Then I'm like, but I need to make money faster because I want the freedom that comes from going pro.

...And then my train of thought simply derails. Anyone got helpful thoughts for me?

Definitely have to take risks in order to become a poker pro. But - calculated risks, of course.

BTW, if you're "terrified" of using your bankroll, then I would give up the idea of becoming a pro and simply enjoy playing freerolls. Thanks to Cardschat and pokerstars and the other sites there are certainly a lot to keep you busy.

If you're not already, give League a try. It's a lot different from the freerolls, so it's a good way to round out your skill set.

 

[fundiver199]

If you have this problem, you should definitely give up any idea of becoming a full time professional poker player. You say, you want the "freedom", but how "free" are you really, if you HAVE to play many hours every day and HAVE to win in order to pay your rent and buy food?

Downswings can be difficult enough to deal with already, and imagine how much more, if you are forced to also withdraw money to pay for your living. Then the bankroll can be gone pretty quickly, if things start to go south. Which in reality has happened at least once to the majority of professional players.

Its not as glamorous, as it looks, when you see someone playing for a million dollar first price on TV. They had to go through a lot of trivialities to get there, and often they are backed or have sold peices of action, so when they win, they dont even get to keep all the money.

Also look at the amount of professional poker player, who have found some other source of income than winning money at the tables. They work for training sites, they do coaching, they sign up to promote a poker site, or they do live streaming to earn money from advertisers. Why do you think, that is?

There is nothing wrong with taking poker seriously and playing for profit. But for the vast majority of people its better to keep it as a side hustle. In that way we can step aside, if things are not going well, or we are not feeling well. And if online poker become even tougher to beat, or the plug gets pulled by legislators, we have not put all our eggs in that basket.

 

[eberetta1]

Enjoy what you got going on. There are lots of things I enjoy. Once you start getting paid to do something, the joy of doing it disappears.

And more than 90 percent of the pros are running running at a yearly loss. Only sponsorships let's them come out on top. Similar to athletes making more from endorsements than actually playing their sport.

 

[whiskers77]

So, I've heard a lot about people who lose their bankrolls way too easily. Me, I have the opposite problem--I'm terrified to use my bankroll in a way that would genuinely constitute risk at all.

Ironically enough, the existence of the CC Freerolls have majorly enabled this problem. They're very good quality games, and I'm like, if I can make money that way why should I actually risk money? Then I'm like, but I need to make money faster because I want the freedom that comes from going pro.

...And then my train of thought simply derails. Anyone got helpful thoughts for me?

You are not the first one, whom I know, who has similar problem. And I want to include myself as well. Well I am not scared to use some money for games. But I am still keeping the buy-ins below of what should be played by percent. But I also do it because of a reason. I know, that I would struggle like hell on a buy-in that is worth more than 10x than my usual buy-ins. I know, that I am not used to this. But of course, I am very sure, we should adapt at least from time to time to the limits and grow a bit. If it does not work, we have brm and we can go down again by limits. It is easy or not? Nobody forces us to play $100 at once, right?

 

[Canwai]

I think it's like you said yourself. It is a matter of risk to increase your buyin limit.

 

[ROYALROAD]

A cash game will be several times of the tournament for the index from which a game can be learned.

This is a difficult place.

 

[perrypip]

Well technically if you're a conservative player you should only risk 1% of your bankroll at a time, or maybe just 5% if you're not so conservative.

 

[Evan Jarvis]

So, I've heard a lot about people who lose their bankrolls way too easily. Me, I have the opposite problem--I'm terrified to use my bankroll in a way that would genuinely constitute risk at all.

Ironically enough, the existence of the CC Freerolls have majorly enabled this problem. They're very good quality games, and I'm like, if I can make money that way why should I actually risk money? Then I'm like, but I need to make money faster because I want the freedom that comes from going pro.

...And then my train of thought simply derails. Anyone got helpful thoughts for me?

This is a great question, thank you for bringing it to the forum.

Thru your bankroll management practices you have shown to yourself that you have discipline and the ability to approach the games as an investor. Great start!

But if you want to GROW YOUR BANKROLL then you need a plan.
You need to setup your limits that will actually enable the roll to grow while still having protection from risk of ruin (this may be 40 buyins, 100 buyins, 200 buyins)

And then for growing it you need to set monthly hand targets (if playing cash) or monthly tournament targets (if playing sng/mtt) and ensure you actually put this volume in.

By combining your BB/100 for cash or your expected ROI per game with the volume target then you can have an accurate prediction of how much you can expect to make it you run average in terms of luck.

This is what worked for me and all my friends, and is pretty much the only way I know to truly build a roll to last.... because you are approaching the game with a professional attitude and that's what will yield professional results.

Here's a little video that may help on the topic too

Hope it helps! & Maybe catch you in the stream sometime http://twitch.tv/gripsed
I'm streaming every weekend and love to connect with CardsChatters!!!

 

[Evan Jarvis]

I should add!

In the beginning it sounds like your goal was to 'not go broke' and to not have to redeposit. I can relate to this as it was a primary goal of mine well.

But now it sounds like you are wanting to set a new goal of 'making money playing' and by setting that new goal your actions will automatically switch to favor that outcome happening.

 

[Elfina777]

The bankroll depends on the player's ability, you never need to play for the last money, the bankroll should be a free amount that you can easily part with, and if you play for the latter, then fear arises, and if it comes you will surely lose, because your thoughts will not be correct work and you will make mistakes in the game.

 

[infonazar]

I think it is a matter of your discipline. If you are truly disciplined then you have nothing to fear. I think you can easily start, for example, with 3-4 tournaments a week, with a buy-in of $ 1 and the first month to follow this schedule. And then, you will gradually understand how to act. Good luck.

 

[zwbb]

One of the most important things you can do for yourself early in your poker career is building your poker bankroll. Most people are very attached to money. Sometimes they get so worried about money that they start to get physically ill. Unfortunately, this attachment to money makes it nearly impossible to be successful in no limit poker. Your poker bankroll must be separate from your other money, physically and mentally.