Bankroll management is VERY important.

Discussion in 'Bankroll Management' started by Morgue, Jul 2, 2014.

  1. Onautopilot, Apr 30, 2015

    Onautopilot

    Onautopilot Member

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    Or, they can go uphill at an accelerated rate also. Bankroll management is nothing more than an independent player's self discipline crutch.
     
    #41
  2. random_roller, Apr 30, 2015

    random_roller

    random_roller Member

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    Perhaps. However, if you're going back to the ATM or signing another marker, odds are the bankroll hasn't been going up (at least not until that point). Of course, you could also be overtipping the servers and crew...
     
    #42
  3. Grizzoola, May 1, 2015

    Grizzoola

    Grizzoola Member

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    Yes, sticking to a loss limit is important. But, what about reaching your win goal? I think it's a matter of judgment whether to color up or keep going. I'd say keep going until a PSO & take that as a sign to quit.
     
    #43
  4. Morgue, May 1, 2015

    Morgue

    Morgue Member

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    I don't like win goals at all. I believe a much better approach is to change your loss limit according to how much extra you have won and how much more time you'd like to play.

    Here's an example of win goal vs new loss limit

    -Starting bankroll $500. Win goal = $1000

    $1000 is reached, Mr win goal walks.
    Pros:
    -cemented $500 win
    Cons:
    -doesn't get to play anymore
    -misses out on potential further winnings.

    $1000 is reached, Mr new loss limit decides to play on after adjusting his loss limit to -$200 from his current standings.
    Pros:
    -cemented $300 win
    -gets to keep playing
    -possibility of winning more
    Cons:
    -possibly losing $200
     
    #44
  5. Grizzoola, May 2, 2015

    Grizzoola

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    What was original loss limit?

    BTW, wouldn't it make sense to say that after achieving the $1K, & losing not only that plus $200, results in an actual loss of $1,200? I guess for me the money is more important than the time. You can always take a break & come back later.

    Just the feeling of winning a session does a lot for my sense of well-being. Yes, I can come back & have a losing session, but still, that winning session tells me I can win. It's in the record.

    And, I don't like short sessions, win or lose, either. After about 2 hours & coming out a winner, is an enjoyable experience.
     
    #45
  6. Morgue, May 2, 2015

    Morgue

    Morgue Member

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    No Grizz. You've misunderstood.

    Let's say the original loss limit was $250 from a $500 buy in. We'll make it like that because I know that you use a 50% loss limit.

    The loss limit in this hypothetical situation is irrelevant because we're assuming the players get to $1000.

    I'm not sure how you thought $1200 could be lost by setting a new loss limit. At $1000, only $200 can be lost from that position, the player would walk with $800.

    If it was me, I'd be creating new loss limits more often. Once reaching $700, I'd probably decide that I would not dip into my original $500. So if from $700 I lost $200, I'd colour up my $500 and leave.

    I think it's a great idea to think about these things at every $100 interval.

    Depending on the time played, you migh even decide that you are happy with the $700 ($200 win) and leave.

    Do you see what I'm trying to say Grizz?
     
    #46
  7. Grizzoola, May 2, 2015

    Grizzoola

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    Well, I think so. IOW, when you win $1k, the $200 loss limit applies to that. So, yes, walk away w/ $800, minus the $500 buy-in for a profit of $300. Not shabby by any means. Have a "floating" loss limit.

    I doubt I'll ever see the session when I double my buy-in. My win goal is about 25% of my BI of $200. We are in alternate universes, and I don't mean that perjoritively. I hope one day I will reach a win goal of doubling my BI, but it will take a lot more time/sessions, etc., to do so.

    All I can say is, when you hit your win goal, keep playing until the next PSO, then walk. That's just me.
     
    #47
  8. KokomoJoe4, May 3, 2015

    KokomoJoe4

    KokomoJoe4 Member

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    Obviously, this is a function of the way you play the game..

    When you risk more, there is the potential to win more.

    With our smaller buy-ins and setting of loss limits, you and I will survive playing this game.
     
    #48
  9. basicstrategy777, May 3, 2015

    basicstrategy777

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    Grizz.......I am very confident you will, sometime in the future, double your buy-in. And it will be done this year. Let us know when it happens. Trust me.

    777
     
    #49
  10. The Comeback Kid, May 3, 2015

    The Comeback Kid

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    "The micromanaged approach is ruff-ruff sailing Yiyee", says Salty Dog Comeback.
    A good sailor keeps his head up - horizon focused, on course.
    Swells and dips makes one seasick.

    In the course play being too aware of minor bankroll hits and the associated feeling of discord, is in a way blocking the glorious comeback that is keyed up and waiting to pop. Thoughts attract like thoughts and a momentum ensues. Don't get stuck there. The lungs do not worry during the exhale that an inhale wont come. Letting it go is as important as allowing it to come.

    The advantaged player is less focused on the minute conditions and more aware of the powerful energy of thought/emotions. He is focused but less specific, soft, non resistant. "Be like like water, my friend". Once you win the battle of the mind, everything else is easy.

    be-water-my-friend-bruce-lee-quote.jpg
     
    #50
  11. Grizzoola, May 3, 2015

    Grizzoola

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    It would be nice, 777, and I will crow about it if it happens.
     
    #51
  12. Onautopilot, May 3, 2015

    Onautopilot

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    The only problem with becoming water, is the age factor! My sessions at the tables have become more and more limited due to the water in me desiring to become a commode! :)
     
    #52