If you are a poker player you will be aware 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 present you with some valuable information about how to control your bankroll and ways to never go under!
Importance Of A Bankroll:
Even in case you are the most effective poker player on the planet, you must 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 stick to the advice within this thread. This is the first step to transforming into a WSOP bracelet winner.
The Chris Ferguson Method:
I read a piece of writing 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 were half buyins. If you wanted to play $0.01/$0.02 cash games, the max buyin is $2 and therefore you'd probably buyin for $1. This would signify you'd have to have $20 to be properly bankrolled for $0.01/$0.02. Likewise, if you have 100 then you definitely you are bankrolled for $0.05/$0.10. If you ever go BELOW 20 buyins you will need to lower right down to a quantity where you might be properly bankrolled.
This method continues to be tried and tested. It's a good method providing you adhere to it. You must be ready to hit bad variance and move down a quantity or two if you wish to. Discipline is KEY for this bankroll method.
Classic Tournament Bankroll Method:
To be bankrolled properly for tournaments you have to have always no less than 30 entry fees to the tournament you wish to enter.
Things change slightly with rebuy tournaments. Because of the nature of rebuy tournaments you'll be shoving or folding hands preflop during the rebuy period (please read my article on rebuy strategy). This means you'll want a minimum of 6 x 30 buyins because obviously you may be double rebuying and adding on! Remember should you fall five to ten you should reduce the amount you would spend on entry fees. Again, the saying used so commonly in poker - Discipline is KEY.
Classic NL Cash Bankroll Method:
An alternative on the Chris Ferguson Method there is a Classic NL (no limit) Method. The basic concept of this technique is to keep no less than 2000 big blinds for the level you would like to play. That's right! to become properly rolled for $0.01/$0.02 you may need a minimum of 40 dollars. If you're winning with the level you're playing at and also you obtain the players simpler to beat, then you can drop your bankroll threshold to 1500-2000 big blinds. As you learn to progress up to $0.25/$0.50 and $0.50/$1.00 I would greatly recommend you adhere to 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 can be a WHOLE different ball game. You can have as little read more as 400 big blinds inside your account because you may be risking less for every buy in as well as the variance is smaller. In limit holdem it is usually impossible to shed your stack on one side from the cold deck, unlike NLHE.
NB. I do not play limit holdem and so I haven't any exposure to this bankroll. The general consensus with players I have spoken to is this fact will be the right bankroll you should strive for.