Re: Question for B&M pros
 

I am a pro, but have only been one for about 4 months. After a big loss in no limit yesterday, I realized that stopping after losing a certain number of buy ins isn't the right way to think about it. This is because a buy in could be 100xBB, 500xBB, or more. Losing 300 big blinds is not so bad but if you lose 1500 then you are getting destroyed and should have stopped earlier. For me personally, I think a 300 big blind loss is enough to pack it up and go home. If this is just one buy in, so be it.

I will quit no matter how good the game is, even though I know that is costing me profit. Having great discipline and following a strict set of rules is going to be best for me in the long run. And also I like the freedom of being able to just start and stop whenever, and not feeling like I have to stay because a fish is at the table. If I want to feel obligated to stay somewhere I'll get a job.

Re: Question for B&M pros
 

50 Big Bets for limit games, 3 max buy ins for NL, OR 500 big blinds for uncapped.

Re: Question for B&M pros
 

I would say that fewer buy-ins would be good for me as I do suffer from fancy play syndrome if I am playing stuck. But than again I am very laggy sometimes so I would need to have a full bullets in my arsenal. It would be more profitable in the long run to have less cash on me to prevent those real bloodbaths.

My only issue is that I have about a 50 minute drive to the casino I play at every single day so I hate to go there short just in case I play great but get cold decked.

Re: Question for B&M pros
 

Paulie,
I'm not a pro by any definition but I also follow the 3x buyin rule.

It's no different than a stop loss that you use on a stock purchase.

I am proud to admit that I have never ONCE used a cash machine inside of a casino. There's something odd about seeing someone at one in a casino that just makes me think, jesus, whatever you do don't ever get that jammed up!

Re: Question for B&M pros
 

A true B&M pro doesn't bring anything. He owns a few lock boxes or has player's accounts.

Re: Question for B&M pros
 

I generally bring 3-4

Re: Question for B&M pros
 

[ QUOTE ]
50 Big Bets for limit games, 3 max buy ins for NL, OR 500 big blinds for uncapped.

[/ QUOTE ]

Not a pro but a regular player and this is my general guideline for what to bring for live play as well.
If I lose 50 big bets in LHE or 3 max buy-ins at 1/2NL I am done for the day.

Re: Question for B&M pros
 

For all those saying to pack it in after some bad beats or dropping X number of BB or buy-ins, really need to take the time to read Ace on the River...

Re: Question for B&M pros
 

[ QUOTE ]
It's no different than a stop loss that you use on a stock purchase.


[/ QUOTE ]

I don't mean to hijack, but it is very different, only because most people don't understand that a stop loss on a stock purchase does not protect you from losses beyond the stop price.

A stop loss order becomes a market sell order once an execution takes place below the stop price. If a stock is gapping down because of bad news, and your stop gets violated, you just sold at a much lower price than the stop. And addtionally, if the stock bounces back quickly, you already sold, and can't get back in where you sold it for.

e.g. XYZ is trading at 23.20 and you have a stop loss GTC (good till canceled) at 22.00 and the stock halts for news (CFO arrested for kiddie porn or Phase III trial canceled), and opens at 18.25, congrats you just sold it @ 18.25 or lower if it continued to move down. Usually by the time you find out from your broker that you sold your stock at 18.25, it is up to 20.00 and you are going WTF?!?!?!?! I had a stop at 22, I sold it for 18, and now its at 20.

Check it out...

Re: Question for B&M pros
 

[ QUOTE ]
For all those saying to pack it in after some bad beats or dropping X number of BB or buy-ins, really need to take the time to read Ace on the River...

[/ QUOTE ]

Yes he does say this but I would bet money that he doesn't always abide by it. I have a hard time beleiving anyone can play their A+ game down 3 buy-ins in 20 minutes also.