My poker Money Management sucks!!

[CHOPTALK]

I deposited $50 bucks for the first time in months 2 days ago into pokerroom.com.

I entered a $5 tourney and I lie not, I won the whole damm thing.

Top prize $480.

I than proceeded to lose every penny of that money in less than 2 days!!!!

FUCK ME

 

[Marauders]

What game did you play to lose all that money? Did you play higher limit than you usually do? Or were you tiliting when you lost? I find that when I find myself lose a couple of buy in and playing like crap, I will cash out some of my balances. So in your case, I would have cashed out $100 when I am down to $200. That way, I know I double up from my $50 deposit, even if I proceed to lose the rest. When I deposit again, it would feel like I am using my money again, and will play better since I don't want to lose that.

Good luck the next time you play.

:howdy:
Marauders

 

[CHOPTALK]

What game did you play to lose all that money? Did you play higher limit than you usually do? Or were you tiliting when you lost? I find that when I find myself lose a couple of buy in and playing like crap, I will cash out some of my balances. So in your case, I would have cashed out $100 when I am down to $200. That way, I know I double up from my $50 deposit, even if I proceed to lose the rest. When I deposit again, it would feel like I am using my money again, and will play better since I don't want to lose that.

Good luck the next time you play.

:howdy:
Marauders

Dumb ass me played a bunch of head to head $50 games.

 

[focus]

HA i do that once a week. My most recent was at doyles room it took me one week i got my account up to $477. I started with $70 and i proceed to lose the $472 in 2 hours. FUCK ME. I have been trying too win at poker for 5 years now most of it going to poker stars and doyles' room just starting playing at full tilt. I have lost $,4,762 DOLLARS, yes in about 5 years of playing i added it up from my neteller account NEVER once taking ONE withdrawl . I love it and hate it lets call it an obbsession. However i made my self a promise unless i win a ton of money form sports i am not putting a dime into these places ever again check my pokerstars thread. I just don't know if these things are rigged or not. I don't want to believe they are. I always tell my friends why would they be rigged when the owners are making a fortune on the rakes. So fuck me too i feel your pain.

 

[CHOPTALK]

I dont think its rigged. Its just my stupity. I have seen some of the worst BB in the world live at the land based casinos.

 

[Aquaman]

Would you ever bet 10% of your bankroll on a game? I hope not, but that is what you were doing by playing $50 heads up with a $530 bankroll, unless you have a much larger amount of money dedicated to poker I wouldn't play $50 heads up. I don't know what the general rule for heads up or no limit are but as far as limit poker goes, most good players agree that 300 big bets is a good bankroll to maintain.

 

[QuickLearner]

Aquaman's right on target. Heads-up poker is extremely high varience. The same knowledgable players who will tell you that you need 20 buy-ins to be same from ruin at NL will advise 50 buy-ins for heads-up NL.

There are a number of games tha I think are fun but don't play because I don't do well. HU NL is one of them. Not even sit-and-go's.

 

[JoeyNorth]

Yes, bankroll management is EXTREMELY important. It is also important to play in games that you know you can beat. Most of your edge in poker comes from the bad plays of your opponents, not your good plays. So play good, exercise good game selection and play within your bankroll and you will inevitably win in the long run. Playing above your bankroll, playing in tough games and playing bad will result in going BUSTO, no matter how lucky you get in the short run.

The games are definitely on the UP and UP and the deal is perfectly random (the sites don't care who wins, they just want their rake). They have definitely gotten more difficult then they were say 2 years ago though. So continuously learning more and more about the game to stay ahead of the curve is also key.

 

[JoeyNorth]

Honestly though, you guys who are good but not great poker players should play in small games and be looking at building your roll through bonus clearing at various sites. Also, get a rakeback deal. These are great ways for a good players to build poker bankrolls. Through rakeback, bonuses and slowly moving up limits (always being certain you can beat your limit and have adequate bankroll before moving up). This goes for tournaments or ring games.

 

[peskypup]

I would never risk more than 1% to 2% of my poker bankroll on one event. I have been sports betting now for 5 years with an average edge of 3 to 4% across all the sports I bet.

Its normal for me to go say 0-6 or 6-0 at least once per month, and a run of more than 10 consecutive wins or losses will occur at least twice a year on average for me. It is cricital that such a run does not wipe out too big a slice of bankroll so I use half Kelly staking.

In poker the last 2 weeks are pretty typical. I played in 15 events coming 2nd in one and 3rd in another - all 10 player sit and gos - for losses of just over 300.

I then went 2nd, 1st, 1st (20 player), 1st, 2nd and then 2 no prizes for profits of just over 450.

I've been playing poker 6 months and such variablility is not that unusual. I average 20% returns on these SnGs.

What there is very little variability on is the number of errors I make per sit and go. This is stable at 0.3 and in fact I averaged more errors in the last 2 weeks on my good run than when I was losing, probably because I was playing more hands.

My good run was simply due to being dealt less trash.

 

[CHOPTALK]

Guys its time for me to quit for another 6 months.


If I told you what happened last night you would be in disbelief.

I won another tourney with over 200 players. Thats 2 tourneys in less than 1 week finishing first for over $900 total.

I then lost it all again.

Its frustrating knowing that your capable of being a good player only to let greed bring you down.


WHY IM LIKE THIS PLAYING POKER?

I never have this problem of getting gready betting on sports. This is just poker and I cant understand why.

 

[JoeyNorth]

Choptalks there are 2 possible explanations for your lack of success.

1) You are not a good enough player to beat the games at the level you are playing at. What happens is you experience wins and losses, but eventually you inevitably lose as you are not good enough to beat the combination of the other players and the rake so in the long run you wind up losing your deposit over and over again.


2) You are good enough to beat the games, but you are playing above your bankroll. In this case you should be experiencing wins, but your lack of bankroll for the level you are playing at doesn't allow you to overcome the downswings. Poker is a very swingy game and if you don't have adequate bankroll for the games you are playing at, you are a BIG favorite to lose your deposit no matter how good you are.

The reason for your problems is either (1) or (2) or a combination of the 2 of them. A combination of the 2 would occur when you are good enough to beat the games but only when you play your best, because when you tilt you play badly and lose more during these times then you win when you play good. Everyone makes mistakes in poker, the important thing is to learn from them and always try and improve as a player.

 

[CHOPTALK]

but your lack of bankroll for the level you are playing at doesn't allow you to overcome the downswings. Poker is a very swingy game and if you don't have adequate bankroll for the games you are playing at, you are a BIG favorite to lose your deposit no matter how good you are



I think you have it correct above.

Im not willing to use a whole bunch of money playing poker, so I guess im stuck.

 

[JoeyNorth]

Play really small and build my friend. You may not care to play $5 or $10 tournaments, but I suggest that if you ever re-try online poker to do it this way to see if you can beat the small games. Players are weaker in smaller games and tournaments so if you start small and move up as your bankroll grows and you know you can beat a given level then you will be o.k. I have built my roll this way and along the way I have sometimes had to move down levels when I was going through a downswing to make sure I didn't jeopardize my roll.

 

[Hookandcrook+]

I do the same with on-line. I just hit fisrt in the Peal on Paradise, it paid about $2500.00. I will tell you when my acc. is at $0. Should not be long. lol

 

[Hookandcrook+]

P.S , I drink when I play on-line ie. back yard in the tiki bar, 3 T.V. betting sports.