Just about broke

I have run myself down to a $10 bankroll. At the beginning of the year I had a few hundred in my checking account (one that I had set up just for poker), a few hundred in at Neteller, money spread over several sites and a $1000 in my savings account that is attached to my checking. I still have the $1000 but I am not going to touch that. I think like Chuck stated in the blog, my funds didn't really have any value. It was much too easy to reload and I know my play was getting loose. I also caught a few bad beats playing at stakes that were much too high trying to get it back all at once. I have read over and over about avoiding my situation but it doesn't really sink in until the money is gone. I feel a bit like a little kid who is told the fire is hot and still has to touch it to learn.
I was going to try to build a bankroll from nothing in another post but didn't take it too seriously. I would get bored playing for pennies and nickels when I knew I had more money elsewhere so I didn't stick to one bankroll but tried to distinguish 2 bankrolls from each other. Well now I have only the $10 left so I will be building my one BR from that and freerolls. No more reloads, No more $100 SnGs looking to catch lightning.

It sounds like whatever you decide to do, you need a break for sure.

I had the same issue after a run of bad luck (and bad play) earlier this year, and I went right through 75% of my roll. I was super frustrated and angry at myself, but I spent a few weeks away from the tables, decided to play smaller stakes, and have slowly grown it back to its previous maximum.

Anyway, my point is:

(1) I understand where you're coming from, I've been there. And I know what you mean, some people (like me) have to experience going "broke" for all those bankroll lessons to sink in. What is heartening to me is that Ted Forrest, one of the poker players whom I admire and respect most, has had many of his own gambling issues and been broke many times, but has persevered to make a huge success of himself. So even the pros need to learn some lessons the hard way.

(2) Whatever you decide to do, take a break first!

One thing that's on your side: at least you have a big community of people not only who will offer advice but also who care about you and will support you through it. But your willpower to avoid tilting through that other $1,000 is testimony that you have the wisdom to make it.

I agree

I agree with Beriac, I've done the exact same thing you went through and what I really needed was a "poker break" It's easy to get burned-out and frustrated, and a break from poker for a bit is better than breaking the account. I've seen you @ PP and have played you in a few freerolls too. Take care Al. Later...

I agree with Beriac and Surfer. Take a break and don't even think about poker for a while. I'm not being negative at all in saying this but once you've taken a break ask yourself some questions about your poker. Why do you play? What are you trying to achieve? Are you chasing action or do you want to make money?

Most people go broke and come back to the game having learned nothing. Then go broke again. Take this opportunity to learn the psychological lessons and the importance of risk management in poker success. You'll have a much deeper understanding of yourself and what it takes to build consistency. You obviously have the playing talent.

Good luck.

I disagree with everyone here. Okay, just kidding, I agree too.

Best of luck to you Alon. Just keep a level head, play your game, and soak up information like a sponge.

Like those above Alon, I have been down this road a time or three. When I have stopped whing about my bad luck 7 really examined my play I have always discovered myself to be playing a much looser more gambling style than I thought I was or that I was playing at levels that were inappropriate to my bankroll and or skill level. Breaks are always a good way to recharge the batteries & to remind yourself why you play. One thing though, the benefits of freerolls compared to the negatives are so imbalanced that I consider them almost a complete waste of time. Actually, I consider them a complete & total waste of time for a player of your skill but I don't want to start an argument about freerolls on this thread. Chuck has suggested in the past that instead of wasting all that time on freerolls try something like the PokerStars 45 player $1 buyin. Much less wasted time & better payout. Good luck & see you around.

Even the best players bust out. You hear stories during the tournaments on TV about how this pro and that pro busted out and was staked by so and so. Same thing happened to me last year. I have a feeling its a common thing with the whole checking accoutn connected to neteller connected to poker rooms thing. After that I took a solid 6 months off, stuck to horse racing and sports betting, and came back fresh at the beginning of the year with a new perspective, more mature as a poker player and a person for losing money I shouldn't have. You live and learn and when you build up a roll from that $10 you'll be a better person/gambler/card player. Good luck my friend.

IML

I agree 100% I'm on an extended sabbatical. I still play a tourney in free every once in a blue moon, but I'm taking a breather and not playing for cash. Of course, I'm in Vegas next weekend and all of that will likely change...

Thanks for the advice everyone. I do have to say that I am disappointed with my play but not discouraged with poker. I have given some thought to how I was playing when I was winning and it was a kind of screwy BR management. You have to remember that all my funds and all the funds I did have came from freerolls and knew nothing about correct BR management. I started with nothing. I would win a little cash and play .01/.02 holdem tables until I made approx. $15 then I would play a $5 SnG. If I won I continued to play $5 SnGs or cheap MTTs until I made about $100 then I would play higher SnGs, .25/.50 and .50/1.00 ring games or whatever struck my fancy. When I reached $200 or higher, I cashed and left myself $50 to play with. If I lost at any of the levels I would play the smaller limit tables again and work my self back up. Like I said it was kind of screwy but it worked for me. I was happy playing the lower limits and never set my sights on the upper limits but I think lately I've been looking more for the rush of risking bigger amounts instead of the satisfaction of steadily winning.