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Need some advice on my bankroll

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Need some advice on my bankroll

Postby LuparFiend » Mon Jul 10, 2006 4:51 pm

I had a pretty rough weekend on the tables and I am really starting to re-think my bankroll strategy.

Just to give some basic information about me, for those who haven't read my journal here, or read my blog. I started playing poker with $50 back in June last year. I played micro stakes limit at PokerStars only. That $50 never really turned into much. It hovered between $25 and $120. Then in September, I decided I wanted to really grow my bankroll and starting to bonus whore. By November, I had $1000. From November to March, I was a pretty breakeven player and had moved to No Limit. With my bonus hunting, my bankroll grew to $3000. In April I was playing really well and started playing 100NL. I doubled my bankroll in April to $6000. In May, I had another awesome month and made another $3,000. I started to dabble at 200NL then. In June, I still did ok, but made only about $1300 (These numbers are all with bonuses) which is still pretty good money for the ammount I play (Maybe 30-40 hours a month which translates to between 7500 and 10000 hands). In June I played about half at 100NL and half at 200NL.

Here is a picture of my bankroll.

Image

So since the 2nd week of June, my bankroll hasn't really moved much. And I am starting to get pretty frustrated. This weekend was what pushed me over the edge I think. I lost about $700 this weekend. I know that it is only really 3.5 buy-ins at 200NL, but it's still $700 bucks!

I finally cleared the latest PokerStars bonus, but I just got crushed. In ring games there while clearing the bonus the last couple weeks, I lost $650! Thankfully I cashed in a $20 180 person MTT for just over $600 a couple weeks back, so I actually came out a little ahead factoring in the bonus money. But jeez. -$650 to clear 720 FPPs. That's terrible.

Some of it was due to bad play, but I think PokerStars switched on the DOOM switch for me. I've never seen so much bad luck. I could post some bad beats, but I won't. Those 720 FPPs took about 1900 total hands (about half at 100NL and half at 200NL). In those 1900 hands, I flopped only 5 sets. Five. FIVE!!! I only got slightly paid off on one of those. I got set over setted on two of them. I got Pocket Aces three times. Kings twice. In 1900 hands!

Sorry to rant there, but I had to :)

So here is the situation. My bankroll is at $10,000. From what I have read, that is actually a bankroll where I should for sure be playing full time at 200NL. And even playing 400NL (25 buy-ins) some. But one of my poker goals way back was to use poker profit to buy a nice HD television. Well, the basement got finished, and now it's time to cash out some profit. I was thinking of withdrawing $2500-$3000 for a really nice one.

But then this weekend happened, and I thought maybe I should do this: Withdraw everything but $3000. That will give me enough to buy whatever TV I want, an entertainment center, and some furniture off of poker profits (We were going to get that other stuff anyway with regular job money).

Then I would take that $3000 and only play at 100NL. And at the end of each month, withdraw whatever is above $3000 and use that for fun money (Trips, stuff for wife, etc...). Repeat every month.

That means no moving up to 400NL and beyond. Just playing 100NL, which is a level that I think I can really beat. Assuming I play 10000 hands a month, and can play at 5PTBB/100, that would be $1000 in poker profit, plus whatever I get from bonuses. That's still not to shabby.

What do all you say about this? Am I being an idiot? Am I just experiencing variance (Ya, probably). Should I just withdraw $2500 like my original plan and still try and move up in limits? Am I really just a shitty player who was on a really good heater in April-May? Take the profit and run? Avoid playing ring games at PokerStars like the plague?
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Postby TexasKowboy » Mon Jul 10, 2006 6:03 pm

Kowboy

If I ain't sinkin', well I must be swimin' If I ain't dead, I must be livin' Livin' is the thing, that scares me the most And if I ain't sleepin', well I better be fishin' If I ain't anchored I will be driftin' But all and all, I'm doing pretty good, since I hit my third coast!
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Postby Cactus Jack » Mon Jul 10, 2006 6:34 pm

"Are the players better as the stakes go up? It's not an exam; it's a buyin." Barry Tanenbaum
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Postby iceman5 » Mon Jul 10, 2006 6:41 pm

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Re: Need some advice on my bankroll

Postby AXN » Mon Jul 10, 2006 10:43 pm

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Postby SebQtaneus » Mon Jul 10, 2006 11:36 pm

Mekos King: Seb is now the way the truth and the light
Mekos King: as if we didnt know that already
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Postby excession » Tue Jul 11, 2006 6:49 am

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Postby LuparFiend » Tue Jul 11, 2006 7:26 am

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Postby shamdonk » Tue Jul 11, 2006 6:26 pm

Be glad your opponents refuse to fold; if they didn't, you just might go broke.


(9:00:09 PM) GodlikeRoy: i think you could prolly post total shit for the next 2 years aaaaand like 192 days and you'll still be considered 'posting good' cause of your threads that'll never be seen thread
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Postby black_knight6 » Tue Jul 11, 2006 6:51 pm

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Postby kennyg » Tue Jul 11, 2006 7:22 pm

I always urge caution when removing money from the bankroll. If your true goal is to play 5/10NL games and up, you really shouldn't use too much of it.

I think buying your TV is fine.. but why wtihdraw all the extra money beyond that. If what Ice says is true, you might not be good enough to beat 2/4 yet. But eventually (with more experience and study) you will be.

After your TV... a better option might just be to withdraw 20-30% of your winnings a month. If you start winning solidly on 1/2, that can be a lot of money. This way your bankroll still grows and is not in any jeopardy.

It all depends on your goals as a poker player of course... but I don't see why you'd want to limit yourself yet. You can't even be sure of your potential.

My advice: buy the TV... withdraw 30% winnings monthly... see how far you can go in this great game.
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Postby Cactus Jack » Wed Jul 12, 2006 9:19 am

"Are the players better as the stakes go up? It's not an exam; it's a buyin." Barry Tanenbaum
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Postby Thxlbx » Wed Jul 12, 2006 3:05 pm

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Postby Cactus Jack » Thu Jul 13, 2006 12:51 am

"Are the players better as the stakes go up? It's not an exam; it's a buyin." Barry Tanenbaum
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Postby Thxlbx » Thu Jul 13, 2006 2:29 am

Well...going busto is the worst case scenario...but if it happens, it happens...I will just have to scrap up a little dough and start over at .01/.02... sometimes to beat the donkey you must first be the donkey (my deep thought for the day LOL)
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