Bankroll Fundamentals - Action 1 To Getting A Poker Good.If you're poker player you should understand at this point that your particular bankroll will be your poker bible. If you have zero bankroll you simply can't play poker! This article will give you some valuable information about how to manage your bankroll and how to never fail financially!
Importance Of A Bankroll:
Even if you're the best poker player in the world, you need to have good bankroll management! Going bust is not the poker gods punishing you, its variance and variance is FACT. If you want to start earning a decent amount playing poker, then continue with the advice with this thread. This is the first task to learning to be a WSOP bracelet winner.
The Chris Ferguson Method:
I read a write-up a little while back compiled by Chris about his transformation of $1 into $20,000. He used the next method to be sure he could handle his variance swings. He played cash games making it certain that he always had 20 buyins. These were not full buyins these folks were half buyins. If you desired to play $0.01/$0.02 cash games, the max buyin is $2 and therefore you would buyin for $1. This would imply you'll have to have $20 to become properly bankrolled for $0.01/$0.02. Likewise, if you had 100 then you definately you might be bankrolled for $0.05/$0.10. If you ever go BELOW 20 buyins you'll need to drop down to a quantity where you're properly bankrolled.
This method has been surefire. It's a good method if you stay with it. You must be prepared to hit bad variance and move down a level or two if you want to. Discipline is KEY for this bankroll method.
Classic Tournament Bankroll Method:
To be bankrolled properly for tournaments you have to have always at the very least 30 entry fees towards the tournament you wish to enter.
Things change slightly with rebuy tournaments. Because of the nature of rebuy tournaments you will be shoving or folding hands preflop through the rebuy period (please read my article on rebuy strategy). This means you need to have no less than 6 x 30 buyins because obviously you will be double rebuying and adding on! Remember in case you fall 5 or 10 you have to lessen the amount you spend on entry fees. Again, the words used so commonly in poker - Discipline is KEY.
Classic NL Cash Bankroll Method:
An alternative to the Chris Ferguson Method there is a Classic NL (no limit) Method. The basic thought of using this method is always to keep at least 2000 big blinds for your level you wish to play. That's right! being properly rolled for $0.01/$0.02 you will need a minimum of 40 dollars. If you're winning with the level you're playing at so you discover the players easier to beat, then you can definitely drop your bankroll threshold to 1500-2000 big blinds. As you begin to progress up to $0.25/$0.50 and check here $0.50/$1.00 I would greatly recommend you follow 2000 big blinds as variance has very damaging affect money wise. Please note that you'll want over 2000 big blinds for 6 max tables and heads up.
Classic Limit Bankroll Method:
Limit poker is really a WHOLE different ball game. You can have as little as 400 big blinds inside your account because you will end up risking less per buy in and the variance is smaller. In limit holdem it is almost always impossible to get rid of your stack on one hand from a cold deck, unlike NLHE.
NB. I do not play limit holdem and so I have no experience with this bankroll. The general consensus with players I have spoken to is niagra is the right bankroll you need to target.