May 03, 2010
Finally A Heater Plus My Weird Bankroll Management Tips
Finally Finally Finally I have a heater on PokerStars!!!! On Friday I played and turned 440 into 3200 (Before losing 400 multitabling .5/ 1 to maintain my VIP status for the month. I hate that crap when you are just playing to get your VIP points to a certain level rather than playing to win which I guess which is a leak in alot of our games but thats a subject for another time).
Anyway It was my first big win on stars for a while. Ive been doing well on the Eurosites for the last 4 weeks playing Plo 1/2 – 3/6 but Ive been losing on the US sites such as Stars and Tilt. But on Friday represented a confidence boast even if it doesnt mean much as we all have our lucky days but in what people would consider irrational sometimes you just need that boast!!!
Well how did I do it. Basily I just played from 1/2 to 5/10 taking my winnings at each level and moving to the next limit. I just felt good and comfotable in my game that day so I made decsion to just keep going. People reading this maybe shaking their heads and saying this kid has no idea about bankroll management and what a degen but only apart from one momement I was in complete controll of my emotions and play.
As I have discused on a few ocasions I have a bet with a friend to try and end in the black in 6 ( now around 5 months) on Pokerstars. I started the bet down 17k so I think what my strategy will be at the momement is to work on my game on the euro sites and just take shots on stars. And by taking shots on Stars I mean playing 1/2 plo with 200 or 400 and see if in that session I can bulid it up by moving up the levels if I double up (unless its a really good game and everyone is deep). It allows me for a smaller amount to try and reduce the amount I am stuck on Stars. Also if I lose well its only 200/400 intial outlay.
However this depends on a few assumptions. I dont go on tilt when I run it up to 2k and lose on 10/20 table prompting me to deposit 2k to “chase my winningsâ€. My counter to prevent this is my lowering my deposit limit and not having any money in my account so I cant do this.
Lastly I wanna discus Winners tilt and steps to prevent you blowing your winnings straight after a big win. Some my cause this a lame why of doing it but what I do is for example after having my heater I lowered the limit i can play from 5/10 to .25/.50. This is mainly for you to aviod jumping into a 5/10 flush with confidence on your big win and blowing your money. I move down to 25 plo for a day making all crazy plays and getting the win out of my system before increasing my limit which takes around 24 hours anyway so gives you time.. Any other tips which people use would be useful!!!
Sorry for the long post !!!
4 Comments:
2fouroffsuit posted on May 04, 2010 at 20:43 PM
Overall, I've gotta say that I think your approach to bankroll management is not very healthy, and probably has you headed for disaster. Even if you are fully in emotional control, playing with one or two buyins trying to run it up isn't going to be a very good strategy even in NL, but especially in PLO.
You're going to be costing yourself a lot of money by being risk averse since you only have the single buyin, and if you do get it in as a favorite which in PLO is usually 55/45 or 60/40, you're still going to lose about half the time. If that's all the money that you allotted yourself on the site then you are done for the day.
Also, when does it stop? Say you run your $200 into $2k, it sounds like you are hopping into a 10/20 game at this point, if you run that into $5k are you hopping into a 25/50 game? $10k sitting at 50/100?
This just seems like a plan that is destined to fail. If you want to get serious about winning this bet, and improving your game, you are going to need to buckle down and put in a lot of work and a lot of hours playing at lower stakes. The skill levels in the midstakes is just too high for you to really have a chance at this bet by just trying to heeb up a roll the way you have described. And you may end up costing yourself a lot more money and deluding yourself along the way.
If you want to talk about BR management or a real strategy to try to win this bet feel free to PM me.
Howmuchyougotleft posted on May 04, 2010 at 23:31 PM
I hear you 2fouroffsuit.. I am mainly playing on the Euro sites to develop my game as I dont want to lose much more money on stars as not to get me more in the red for my bet. I feel I am improving but as you say I may be deluding myself. Typically however whatever site I am playing I like to give myself a 2/3 buyin stop loss a day. Some may say this is too nitty and overally cautious but I only play one table these days and I know my self that when I lose 5+ buyin's it puts me on major tilt so I try to limit myself.
So for the moment I am just taking shots on stars and working on my game on other sites. Once I feel my game has got to a decent stage I will employ a better BR mangement on stars but for now just seeing where this strategy takes me.
2fouroffsuit posted on May 05, 2010 at 20:09 PM
A 2/3 buyin stoploss? Really? Are you buying in short to these games? What happens if you get all in with a full buy in and lose? You've already passed your stop loss! In a game like PLO where you are going to be running it a lot, this just seems like you're going to drive yourself bonkers! Although you haven't said this outright, I imagine that having that low of a stoploss is going to negatively affect your play costing you a lot of money in the long run by making you more risk averse. Are you going to be able to get it vs a LAG with middle set on a draw heavy board if losing means that you have to quit?
What is your BR management like for the euro sites you play on and stakes are there?
I think that there are a lot of other issues that you will probably need to address as well you should record a video of you playing and post it in the members video section.
Howmuchyougotleft posted on May 05, 2010 at 21:52 PM
So I think you misunderstood my terminology. I meant 2 to 3 buyin stop loss. So that means if I loss one buyin Ive got 2 more before I hit my stop loss. Is this too low of a stop loss? Everyone I guess plays in different ways but I only play on one table and I feel after losing more than 3 buyins my game starts to suffer.
On the Euro Sites I play between 1/2 and 2/4 depending on whether I can get good postion on certain players in the game and I have 2 to 3 buyin daily stop loss.
I will look into your idea of recording me playing and post it in the members section. Im sure it will make for interesting viewing lol
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