SUPA ARTICLE: Bankrolls and psychology. |
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Posted Wed May 24, 2006 1:59 am GMT by supafrey
This is a copy and paste from my blog. It's the fifth article in a long series I plan on writing. You can check the rest out at http://www.xanga.com/supafrey ....
Either way, here goes:
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PAVEL'S POKER TIPS.
1. It's not rigged.
2. You are stupid, stupid.
3. Who are you playing for?
4. The fundamental flaw of poker theory.
5. BANKROLLS AND WITHDRAWALS AND PSYCHOLOGY, OH MY!!!
Hrms.. The following two tips are probably going to make the $24.95 that you've spent to get these articles (or whatever I end up charging, ha-ha!) all worth while. My little sanity tip at the end will probably save you hundreds - making my charge for this info all the more of a mere pittance. Anyways, I digress...
Okay. Here's my first confession: Over the past month and a half I've probably lost a good chunk of change from my online roll. At one point I was at a very nice total on Celeb with about $9400 in my roll on that site. I was on my "A game" (another ha-ha!) for sure, and rolling large with my big brown eyes set squarely on 10k. Well... It never happened.
After that high point, I went into a nice little nosedive. I lost all the money I hadn't already withdrawn, leaving my Celeb total at $7500. While this isn't a huge % of the roll, it was a significant drop - something I had never experienced before, especially to such an amount. While I wasn't broke, this was a huge jab at the ol' ego. Furthermore, since that point, despite some MTT luck and a little live game earnings, I'm sitting with about $8400 in my Celeb roll. What does that mean?
Well - Do the math. That means that I've actually LOST $1k over the past 6 weeks or so. What other job do you spend countless hours slaving away only to come out MORE POOR than when you started? I guess that's the nature of the poker now, isn't it?
So what does this mean? It's quite simple, really. On the one hand, I could just be moping around and letting my emotions or desperation send me to higher stakes or bad decisions (the "bad idea") OR I could realize that it's just an inevitable part of poker. Sometimes you win, and sometimes you lose. I don't necessarily believe in bad luck, as most losses can be stopped to some degree, but there are definite periods where a "bad run" is pretty much unavoidable. It happens. To everyone. It's unavoidable.
I repeat.
Unavoidable.
Yes, it will even happen to you.
But what does THIS mean to YOU? Even simpler. There's two things a smart poker player can do to prepare himself for these kinds of runs. 1) A suitable bankroll and 2) mental preparation.
1) A bankroll is key to any smart poker player. Anyone who claims they can outplay their bankroll is an idiot. Keep a good chunk of change set aside for the inevitable swings. You don't want to see a juicy table, lose one hand on a bad draw and find yourself aching and drooling while you watch an obviously profitable situation lost. Most "people" in the "know" recommend 10-25 buy ins for a solid no limit player. This refers to the MAX buy in at the table and ranges for the more daring/conservative of the bunch. Personally, I'm an even bigger pussy than most players and keep a roll ranging from 50-125 buy ins. I'm not even joking. While some would argue I should have moved up a long time ago, I'm comfortable with the game I can beat and the rate at which I do it. This may not be for everyone, so sticking to about 25 buy ins or so would be fine.
2) Mental preparation isn't as hokey as it sounds. All I'm asking for is this:
- When you get your first big hot streak or win a tourney and find yourself with a big chunk of change in your roll for the first time, consider withdrawing a nice portion of it for yourself. This is the "BIG MONEY" tip I was promising. I can't overstate how important this strat really is. If you're someone who bought in for $100, for example, and have always found yourself hovering around the $200 mark in your roll, a hot streak bringing you to $800 would be huge. Suddenly you find yourself adequately rolled for the $50 game or even the $100 if you play a little risky, so why not "push your winnings"! ... Well, it's simple. My advice is to take a good portion of the money and withdraw it from the site. From the previous example, I'd recommend taking about $400 out to spend on something nice for the lady or man in your life, or perhaps a nice dinner with the kids.. (I recommend Thai food). Not only does this leave you with a roll that's STILL bigger than you've ever had ($400 being twice your usual $200), you've effectively proven to yourself that you can "beat" online poker for atleast a little profit. You got back the money that you initially risked, and have made a nice profit to boot. Should everything you have on the site be lost in a string of bad cards or silly play ATLEAST you have the money you've already won. Take a breather, a short break, or perhaps a nice vacation, and buy back in with $200 of the $400 you previously withdrew. Not only is this a nice size roll that you're used to, but you've STILL got a hundred extra sitting back at home (unless you already ate it at the Sizzler or Wendys or something, I guess). And you can thank me for earning you a nice bit of money, regardless of whether or not you had to pay for the tip.
Did you know that participating in a poker forum can help you improve your own game? Be it by sharing experiences or simply asking for help, participation in a forum helps you focus and keep 'on topic' which will help you improve your game. You can learn from other players feedback and from their experiences. Why the THP poker forums? We offer one of the best managed texas holdem poker forums available, and the community within is far more friendly than those typicaly found on other sites. We've made a 'lurkers edition' of the poker forum available here on Holdem Poker Online, but we encourage all visitors to register and join in on the conversations on TexasHoldem-Poker.com
Posted Wed May 24, 2006 9:49 am GMT by Hurricane Ham
Thai food rules.
Oh, and nice post.
Posted Wed May 24, 2006 3:39 pm GMT by Johny
Very nice post Supa, well done.
I liked the part about cashing out a good chunck after a big win. That's what I did after winning my first MTT. I was used to playing with a small bankroll then all of a sudden it was huge (compared to what it was previously). I didn't feel ready to play with a big bankroll or the idea that losing a few hundred dollars would become the new norm.
Posted Wed May 24, 2006 3:45 pm GMT by foldhappy
Thai food DOES rule. I went there a couple of years ago. I think I caught something contagious there cuz I came back with quite a thing for asian women.  ok, TMI. Anyways, cool post. It's always good to find food for thought on the psychological aspects of poker & bankroll. Especially when you consider how many people play a decent game of poker but lose out in the long run because they can't absorb a swing, then lose confidence etc. and the downward spiral of mental anguish begins.
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