May 07, 2009
My bankroll management strategy
Having played online poker for almost 2 years now, I have only gone bust once (my first deposit of $50USD). I know that there are probably many articles out there regarding bankroll management but I would like to share my own.
Floor.Ceiling. You should always be setting a floor and a ceiling for every limit you play. Not only does this make sure you don’t move up/move down too soon, but it also gives you a target for each stake you play. My floor and ceiling as follows :
Floor Ceiling50nl $750 $4000
100nl $3000 $10000
200nl $8000 $24000
400nl $18000 $60000
Weekly tax : cashout 5% of bankroll each week
For people who have other means of income other than poker can apply a more aggressive bankroll management strategy, allowing them to take more risk where they might be able to move up stakes a lot faster. Do note that you should not allow your bankroll to dictate the stakes that you should be playing, move up when you think you have the ability and the confidence to beat that stake.
2 Comments:
djcollin posted on May 07, 2009 at 21:58 PM
In your opinion, what's the best method of cashing out weekly?
jl87 posted on May 07, 2009 at 22:08 PM
It really depends on where you live and what cash out methods is available for you.
I use neteller and garybenson.com.au to cash out since I live in New Zealand. Neteller charges 2.95% + $6 for every ATM withdrawal which is kind of expensive. But POS is without the $6 fee.
Gary Benson uses the BNZ forex rate which is a bloodsucker where the rates are pretty bad.
Moneybookers is another alternative although I have not tried it before.
When I mention cash out weekly, It doesn't mean that you have to get it to your bank account. You can simply let your weekly cashouts sit in neteller and use that for a mid year holiday or buy yourself something nice at the end of the year.
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