Bankroll management

[ExodusNZ]

Hey

Just need a little bit of advise about bankroll management.

My situation, I have four accounts - One has around 3k in it, the other around 2k and the other two under $500 each

I pretty much started out with $1K total so have done pretty well in a month or two!

So really my question is should I pull out the initial deposit, or increase my bet sizes now ? Or some other sort of idea ?

Any advice is accept

Cheers

 

[Mosi]

Lots of different theories on this board I am certain and there are a lot of unknown variables like how much you you have been playing, money management or winging it, etc. Me, I take out the 1K and another 1K of profits and then work within some sort of money management system to ensure you have fun playing with the man's money. Nice run.

My best,
Mosi

 

[ExodusNZ]

Thanks for your help.

Ive slightly increased my bet sizes by about 5% - And plan to withdrawl any money I make on top of what I have now.

For example. $7000 bank roll. Get to $8K , withdraw $1k, and ill do this twice if all goes to plan and increase my bet sizes again after this.

Had a bad day today, so lost an extra 5% ! Haha back onto it tommorow.

 

[mhk]

ExodusNZ imo, its up to you to decide ahead of time what your plan is. Write it down, I've always withdrawn 25% after an increase of 50%.. Now you have a new unit amount.. Others just look for a 20% gain, and start withdrawing. Others don't do anything until doubling. Just go with what you are comfortable with, stick to the plan, and enjoy the good rides..

 

[BettingFoodStamps]

Your bets should be 1-2% of your bankroll. When you want to withdrawl is completely up to you. Obviously the more you win the bigger your units can become thus the more 1-2% becomes etc, I think you get the idea.

Obviously this is just my opinion as it is your money and your way to do it but i would recommend a couple things:

1. Figure out what kind of gambler you are:

You a strictly one sport gambler or do you gamble all sports. You a quick hitter or are you a long term investor. This is important to help you decide when you should withdrawl etc.

2. Are the books your using safe? If you run a balance over 5k do you know you will be paid? Make sure your books are solid and if you ever need help email Wilheim at wilheim@therx.com

3. Find a couple guys on the forum that you feel pick games with analysis and your comfortable with and bounce ideas off them as most on here will be quick to help out.

Do this stuff and you should be just fine. Any questions feel free to ask away.