How to manage a bankroll?

[MrAustrian]

I was playing very high stakes right after I won a 30$ bounty tournament for 7k , unfortunately I lost it all the day after playing the highest tournaments available without thinking that it hurt me financially in the long run especially since I wasn't and still am not a big winner with a lot of experience behind

 

[Matt_Burns88]

Wow. Hopefully you learn from this experience. $7k is a huge amount to lose in one day.

Congrats on the win though! Hopefully you can do it again, but practice better bankroll management and self control.

 

[Magnacarta]

I was playing very high stakes right after I won a 30$ bounty tournament for 7k , unfortunately I lost it all the day after playing the highest tournaments available without thinking that it hurt me financially in the long run especially since I wasn't and still am not a big winner with a lot of experience behind

What were you chasing after if I may ask? What I usually do is that I set a goal for myself and if I do exceed that goal I cash the majority out and play with the rest (maximum of 30%). Or I cash out entirely if I played enough.

 

[Magnacarta]

What were you chasing after if I may ask? What I usually do is that I set a goal for myself and if I do exceed that goal I cash the majority out and play with the rest (maximum of 30%). Or I cash out entirely if I played enough.

You made a crazy profit of 233X so I am very curious what compelled you to keep playing and or up the stakes.

 

[fundiver199]

Well easy come easy go I guess? You started with $30 and ended with nothing. Not the biggest deal of the world, but also not a strategy for being a long term winner. I think, its very much about defining your goals with poker. If its long time profit, then you need to get into a grind and apply bankroll management. The truth is, its pretty boring most of the time, so not everyone has, what it takes. Best of luck.

 

[G0930]

Rookie mistake, been there done that.

Bankroll management is absolute must in order to become a winning player.
At least you didnt lose your own money but winnings.
Muss da wurscht sein
Its a tough but necessary experience not to repeat it

 

[G0930]

The truth is, its pretty boring most of the time, so not everyone has, what it takes. Best of luck.

I dare say its excruciantly boring at times 😅
I think that's how cashgame only players are born. Not enough patience.

 

[MrAustrian]

You made a crazy profit of 233X so I am very curious what compelled you to keep playing and or up the stakes.

because I want to play for more money to the 1st and that happens with 500 dollar tournaments and so on I don't really care about losing ever

 

[MrAustrian]

What were you chasing after if I may ask? What I usually do is that I set a goal for myself and if I do exceed that goal I cash the majority out and play with the rest (maximum of 30%). Or I cash out entirely if I played enough.

just being in the field with big dogs you know I played against multimillionaires and pulled insane bluffs for a short period of time

 

[MrAustrian]

Wow. Hopefully you learn from this experience. $7k is a huge amount to lose in one day.

Congrats on the win though! Hopefully you can do it again, but practice better bankroll management and self control.

yes 100% I'm never going to give up

 

[BillyR23]

Daniel Negreanu, IMO still one of the best poker players in the world and someone that was at the top of the winnings leaderboard for quite some time, went broke IIRC 3 times before making a decent amount and didn't made the previous bankroll mistakes and ended up with such a great poker career... What I want to say is that it can happen even to the best players, so don't let this experience get you down and like other members said(mostly indirectly), you invested $30 and played with the house money... You are in the right place to improve your bankroll management (other aspects of your poker game too) and CardsChat has a great course not just about it that I recommend going through - GLGL

 

[WrongUsername]

always use brm is the most important key.

 

[GarotoMaroto]

That sucks.
Good luck next time.
God bless!

 

[martinlgs]

That was painful.

I'm not judging. You should have withdrawn $6,500, and with $500 you could have played almost 20 $30 games and about 50 $11 tournaments, for example.

It's a way to manage your bankroll. There are many methods. Discipline isn't just about tournaments; the best discipline is setting goals for yourself, as several people have mentioned above, and especially discipline in selecting tournaments.

 

[Noodeloo]

Thats a crazy story and a lesson to be learned in BRM. Yes we want to win big again but now you know how quick you can build and lose a 7K bnankroll to play the game you love. Work out your win rate at a certain buy in and dont take more shots than your bankroll can handle - have a bankroll strategy and stick to it - or is the plan to just bink a 10K mystery bounty ...!?

 

[dreamer13]

Simply decide how much money you can allocate to poker from your monthly salary, and then play the most profitable or fun game available. Don't hold back on smaller, high-rake games to build up a bankroll before moving on to the better games.

 

[TheniT]

Bankroll management is very important; I think you should make buy-ins of no more than 1% of your bankroll to have good bankroll control.