Re: How much of your bankroll should you keep online?
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If you currently have ~250 BIs for your MTTs of choice, how much of that is needed to keep online?
Do you cash out on a regular/consistant basis? Do you try and keep your online bankroll @ a stable # and cash out the profit(what # is that in relation to buyin)? Does anyone keep it all online until they actually need it?
Reasoning appreciated.
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After a big score I'll normally cashout some. I try to maintain a minimum of 100 buy-ins and wouldn't take out cash to bring my balance down below 120-130 buy-ins. I'll consider taking some out if I exceed 150 buy-ins (definitely once I'm over 200 buy-ins). If I start approaching 80 buy-ins I get nervous and would probably move down a notch if it happened, but so far I've only come close.
My rationale for taking the money out is I want to see something tangible as a reward whether it's a new computer or a lower credit card bill. A constantly increasing online bankroll isn't enough. However getting money in is a hassle I don't want to deal with so I try to maintain enough so that my risk of ruin is low. That's why I'd move down if my roll got below 80 buy-ins.
What your minimum and maximum level ought to be obviously depends on field size and variance. In Chris Ferguson's experiment to take his bankroll from $0 to $10,000 on Full Tilt his self-imposed rules stated that he couldn't buy-in to an MTT with more than 2% of his bankroll (50 buy-ins). For me aiming to maintain 100 buy-ins seems reasonably conservative. At the point where I'm ready to increase my average buy-in I'll increase my balance accordingly. Usually I'll consider doing that after taking a shot at a higher buy-in and hitting a big score (at least big for me at that time).
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