Bankroll Management

To be a winning player at Poker, Bankroll management is a concept you have to understand, and practice. Many great poker players go busto because they play above their bankroll. Below are the bankroll guidelines I will be following.

* $100, play 5nl. (20 buy-ins)
* $250, play 10nl. (25 buy-ins)
* $750, play 25nl. (30 buy-ins)
* $1750, play 50nl. (35 buy-ins)
* $4000, play 100nl. (40 buy-ins)


Above is a chart showing the amount of money I need to play at a certain level. Downswings are just a part of poker you have to live with. Practicing good bankroll management allows for those downswings, and stops you going busto.

Just for an example. Say I was playing $25 NL. I would need a bankroll of $1750 before moving up and taking a shot at $50 NL. If I suffered a downswing, I would consider moving back down to $25 NL when my bankroll was down to around $1200, and build it back up to have another shot at $50NL. It may well be that I just can't beat the next level yet, so I go back down work harder and give it another shot.

There is some flexibility in this, I will move back down a bit sharpish if I feel I am not good enough at any level. The aim is to always be playing for enough money that it matters, but never playing with "scared" money.

In addition to these guidelines, I can never move up a limit before I have played at least 20,000 hands at the previous limit, and been a winning player over those hands. It is quite possible to go on a hot streak and think I am the next Phil Ivey. Playing the 20,000 hands will at least give me a decent sample size to judge myself on. In reality it will take longer than this at most levels anyway, but the rule is there for my own benefit.