$10 -> $1800 in two days!!
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$10 -> $1800 in two days!! Expand / Collapse
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Posted 2008-08-31 11:39:28
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Hi. just wanna share my story and ask few sharks out there about bankroll management.

Not to show off or anything, but i consider myself a good player online, being aggressive, and most of the time makes good decision regarding big pots and knows how to lay down good hands and loves to play heads up.

However, I have never been a winning player because i have the worst, and the worst bankroll management skills someone could possible imagine. So yes, although i have pride being a good poker player, combining my bankroll mgt skills, I am a horrible player after all.

So I decide to play online since i havn't played for close to year and deposited 150$, tried out some 10$, $20 sit ngo, .10/.20 & .25/.50 NL cash games. won few, lost few but some bad luck streak got me and lost it all

Deposited anohter 150$ and played more higher limits just to win big or lose fast (I have a strong gambling mind) lost it, and at the end i lost 500$

I say to myself,  'fuckme!!!!' and I quit. the reason i played high limits compared to my very small bankroll is because one year ago when i played the last online game,  i deposited 150$ went into  1/2 NL won big there, jumped right to 2/4  then to 5/10 and won close to $10000 just in few hours and lost it all playing 25/50 i think and it went in to one huge pot   (I was holding 77, oppenont KQ of diamonds,  flop came  10,10,3 with 2 diamonds  went all in on the flop thinking my had was good. he called, turn brought another diamond and lost everything). Of course I deposited 300$ more after that but since the blow to my head about how much money i had 5 miniutes ago, gave me bad tilt and lost it and that was end of it.

So the next day, I just try logging in to online poker room again and found i got 10$ bonus money i received lol.

played some sit and gos off the bat and after reaching 50-60$, played little cash game and played lots of super turbo sit n gos. I played great, was always the big cheap leader when there was 3 players left, and when blinds were 1/5 of people's stack, made many decipline folds and ended winning lots at the end.

played some rebuy tourneys and lost few of them and my bank roll stood 100$ at the end of the day.

the next day, i log in, started playing turbo sit and gos, got it up to $280

tried out .50/1 nl cash game for 60$, lost it. and went into blackjack table, placed 60$, lost it, went all in won it so it stands around 400$

I know, i'm very impulsive too. so i take 200$ into 2/4 cash game when people had 400$ and up. I test the water, and although i knew it's stupid to put half of my bankroll to play in cash game, but like i said, i have terrible bankroll management skill. I mumble myself I certainly can make 1000$ profit from this table since everyone was just aggressive fishy players.

So playing less then 30 minuites winning few pots, I get one guy to cold bluff at me and I made a pretty good all in call with 4 spades out holding   6 of hearts, 10 of spades. that got me to $1000 and played little more and sat out with 1250$. almost exactly same amount I thought i was going to win eventhough i was short stack beginning of the game.

Now, this time, i'm not stupid enough to go for higher limits since i was already stupid enough to go all in on black jack and trying 2/4 with mere $200.  I play lots of  20,30, and some 50$ turbo sit and goes. wins a lot and get my bankroll to $1800.

I withdrew $800 to moneybookers so i can try out popular pokerrooms (i've been playing at crazypoker since they were only few pokerrooms that accepts usemybank option which at the time was the only option i had).

NOW, I am not looking to play stupid games that's gonna risk my bankroll.

But i'm very afraid i would since that was the pattern in the past and I am not stupid enough to repeat the same mistake again since i had one good session at 2/4.

I plan to stick to sit and goes because i do good on them and plan to try out pokerstars when money comes in to my moneybookers.

And I know many sharks outthere who makes money off of online poker uses this program to track how many sit and goes u win,  displays all hands i play and stuff. You know, calculating  how many bigblinds i am up or down. The poker management program .

How do you get this and how do you use them?

I think since i have decent amount of bankroll, i'm just gonna be like everyone else and go safer root playing sit and goes and low limit cash game. Also, i would love to see how i do online with all the statistics instead of not knowing how my bankroll is flowing.

It was a very long post and i really appreciate people who read them and I know I can become a good poker player if i can be good at bankroll management skills. 

I would love to hear some tips regarding this issue!!!

don't forget to teach me about the poker program!!

I really really really appreciate all your helps if you are willing to save one poor guy who have lost so much money in the past which i could not afford to lose

Thx!

Post #240517
Posted 2008-08-31 13:32:03
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Mate,

I think the program you are looking for is poker tracker
www.pokertracker.com

As for your bankroll management, that is terrible!
if you have $1000,
i would suggest playing 25/50 cent buy in for $50, build it up, if you lose, drop down to 10/20 when you are on around $600, if you win take shots at 50/$1 when u have a roll of about $1500, and when u get to around $2500, you can move up permanently to 50cent/$1.

This is my advice for good bankroll management, you will find that you will move up slowly, not too fast... but u wont go broke if you are as good player as you say

-Kingmutt

Post #240523
Posted 2008-08-31 15:26:08
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Last Login: 2008-11-12 20:06:49
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alright, i also have had horrible bankroll management issues. i had a lot of money at one time (40k) and lost it all going on tilt. this was not poker money or any gambling money. i worked for it. anyway, now i play different and it works for me. for example, if i am playing .25/.50, i buy in for $40. i can ususally grind it up to over $100. i do this several times until my roll is over $200. i then try my luck at .50/1.00 or 1/2. i play pl omaha though. now shortstack in those tables too. i can usually double or triple or even more at these tables. once my roll is over $500 i cashout most of it. i know it sounds dumb but if i keep it in there i will go on tilt and lose it all.

people get mad and may say it is dumb to cashout but it works for me. since using this strategy i have literally won 6k in about a month. not a ton but it is better because i keep winnings. i will buy in for $80 usually and use my strategy. sometimes i lose the 80 quickly and deposit again. it seems to work for me so that is what i do. CASHOUT!!

Post #240538
Posted 2008-10-07 17:02:14
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Last Login: 2008-10-31 16:34:51
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my advice...which has worked for me...100 buy ins..for cash games.or i do not play....and 200 buy ins for sit n goes and tourneys...or i do not paly....

some people say it is too mcuh....BUT....you can live with 99.9% of downswings....palying 25/50 cent game...with 5k.....u never gonna go broke...

and cashing out....i cash out 20% of my profit...end of month...and i also cashout all my rake back..end of month...which helps out alot...

this strategy, for me..as alowed me, to not dep, within last 3 years and am currently palying 2/4NL on 2 diff sites.

FYI..i also had a big toureny win, for 38k....so that helped...

Post #253366
Posted 2008-10-07 17:14:01
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very good advice from broke____joke. One of the healthier strategies ive seen.

Personally i prefer having atleast 50-60 buy ins when moving to a new level. For 6-max play atleast. U can probly have a little less if u play full ring, and a bit more if u play hu.

The games are getting tougher, which means ur edge is smaller and swings are bigger. Bankroll management has never been more important

Post #253367
Posted 2008-10-07 17:31:52
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Last Login: 2 days ago @ 14:14:14
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i deposited 150$ went into 1/2 NL won big there, jumped right to 2/4 then to 5/10 and won close to $10000 just in few hours


that basically says it all, bankroll manage 5% of ur roll on a table at once at most even that pushing it i usually do 3% when i 4 table, just look at nay guys online i call so what, kaibuxxe now Niki, slaktarn etc all took shots all ran it up like crazy and run bad go bust
Post #253368
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