the variation in poker upwards or downwards is not normal, it will happen in every game you are going to play so I managed to control your bankroll is the best thing you do, so the variation will not bother you much just knowing how to manage your Cashier.
How do you feel about using satellite entries into MTTs as a method of mitigating bankroll risk? Would the X300 buy-in rule apply to these too, or should there be another rule for satellites given that there's more variance (have to cash a satellite AND tournament to be profitable)?
johnnylawford said:
Yes, I’d be comfortable with that number of buyins. Satellites can be a great way to mitigate risk, just so long as we make sure to use optimal strategy as this can vary greatly not only as compared to traditional mtts but also from satellite to satellite 🙂
One of the first lessons I learned in poker was bankroll management. And it really worth it. I never lost my entire bankroll and always try to follow the the buy in increase/decrease rule.
I play poker for fun and have no intention to make this a way of life. But I don't wanna to lose money too. Br management is essencial to this.
I play poker for fun and have no intention to make this a way of life. But I don't wanna to lose money too. Br management is essencial to this.
You're totally right that it requires self-discipline, and maybe that's part of what makes it especially hard for so many poker players haha 🙂 Sounds like you have a great handle on it now, even if it wasn't the first lesson you had in poker.Dkerridge14 said:
Variance is what I have been looking into quite a lot this week as I'm experiencing what seems like terrible luck. I thought my consistent win rate over 15,000 hands was a sign that I had figured out how to play poker.. but now after losing 11 buy-ins in 2 days I'm doubting myself and its affecting my game quite a lot.. e.g playing so passive because I'm convinced I am always behind no matter what.
How does one realise its just variance and not ability?
I play micros at 1/2 so the money means nothing.. all I want to do is know that I am playing well and I'm good at the game. If I was confident in that then I can play knowing variance will even out eventually!
How does one realise its just variance and not ability?
I play micros at 1/2 so the money means nothing.. all I want to do is know that I am playing well and I'm good at the game. If I was confident in that then I can play knowing variance will even out eventually!
JR1987 said:
Sorry to hear you've been running bad, but don't worry -- losing 11 buy-ins is definitely a normal downswing for winning players. You will need more than 15,000 hands to get a good idea of your winrate though.
I recommend the Primedope Variance calculator to get a good idea of how to know when it's likely just variance. It's available here. Good luck in your games!
Nothing too different or surprising here although I've read before that around 100 buy ins is suitable for MTT. You guys recommended a lot higher but do you think 100 is acceptable albeit on the lower side?
Also what are your thoughts on taking a stab at a higher entry occasionally for experience and the chance to massively increase bankroll? I'm thinking of entering 0.50c MTTs maybe once or twice a week in addition to my regular sit and go's but don't want to risk denting my roll in doing so. 0.50c MTT would be 2% of my current roll.
Also what are your thoughts on taking a stab at a higher entry occasionally for experience and the chance to massively increase bankroll? I'm thinking of entering 0.50c MTTs maybe once or twice a week in addition to my regular sit and go's but don't want to risk denting my roll in doing so. 0.50c MTT would be 2% of my current roll.
nwhitney118 said:
It’s all a matter of how conservative you want to be in conjunction with your ROI. Personally I’ve known winning players go bust with 100BI rolls, but the truth is most players (even pros) don’t practice great bankroll management.
As for the MTT .50 shot, any time you shot take by definition you’re increasing your risk of denting the roll (even with the potential for the nice score). However, as we say in the course, if you’re willing to move down if shots don’t work/your bankroll decreases then that can be an option as well.
nwhitney118 said:
Variance in tournaments depends a lot on the field size. If its 100, then the 1% buy in rule will work well, but if its 1.000, and this is, what you always play, then you need more like 300 BIs. In reality however most MTTs players play a range of buyins, because otherwise there is just to much waiting for new MTTs to start. And if for instance you have 500$ and play 2-5$ MTTs, you will have at least 150 times your average buyin, so you are actually being more conservative, than the 1% rule suggest.
nwhitney118 said:
I think, its important to learn responsible money management and understand poker variance from the beginning. But that being said when you talk about taking shots at 50c MTTs and about 25$ being your bankroll, I think, you are falling into, what Andreas Froelich called "the micro stakes fallacy" in a video on Youtube.
The idea behind bankroll management is, that if you are playing for profit, either professionally or part time, then its obviously a disaster to lose all your money, because then you can no longer play. So its just like being an Uber driver and crashing your car without insurance. Not only did you lose your car, you also lost your source of income.
However if you lose 25$ online, that does not force you to stop playing. It only force you to make another deposit. So it does not really make sense to talk about a poker bankroll, before you have 4 figures, and some like Andreas would even say 5 figures. But of course people have different financial situations, so for some its more, and for others its less.
But the point remains, that if you play something as low as 25c SnGs, then this is not to "build a bankroll". Its for something else. Probably either fun or practice. And I do think, there is a point is starting a little bit higher like for instance the 1$ 45-180 man SnGs on Stars and the 1,5$ 90 man bounty SnG.
Or if you have the money, maybe deposit 500$ on another poker site than Stars and start playing MTTs there. In general 2-5$ MTTs is where, you begin to be able to make some money, which actually matter at least a little bit in terms of purchasing power. And its not like, they are an all-star line-up at all. There are still plenty of fish and bad regs in 2-5$ MTTs, especially if you play at the right site and the right time of day. Looking back at my poker "career", I kind of wish, it had taken me less time to discover this, than it actually did 🙂
A question dear members of cardschat, the videos of the course can be seen with subtitles in Spanish or everything is English and cannot be seen in Spanish
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If I'm going to make money with poker, it's very important that I develop good bankrolling skills. If I don't do this, I will be committing myself to constant losses, which will be very difficult to handle, regardless of the level of my game.
Of course, bankroll management alone will not make me a successful poker player. You should learn how to actually play poker. But this element can protect me from the inevitable series of failures in poker, and will allow me to remain a positive player.
Life is a game , play beautiful
Of course, bankroll management alone will not make me a successful poker player. You should learn how to actually play poker. But this element can protect me from the inevitable series of failures in poker, and will allow me to remain a positive player.
Life is a game , play beautiful
I have good bankroll management, it was among THE FIRST lessons that I learned, Chris Ferguson wrote a guide many years ago, and I studied it carefully.
It is a very important lesson for every poker player to learn.
Thanks for the lesson
It is a very important lesson for every poker player to learn.
Thanks for the lesson
Pichman189 said:
I think that starting with bankroll management could definitely make sense because you don't want to put too much at risk right away. But I wouldn't agree with a course that started with tracking software -- assuming it was designed for beginning players. You want to have a better understanding of the fundamentals and basic strategy before worrying about stats/HUD.
