[pzhon]

[ QUOTE ]
Hey guys, FAQ on LHE part of forum says :
[ QUOTE ]
What kind of bankroll do I need to play X limit?
If you play recreationally and are willing to move down if you hit a bad patch, you should have 300-500 big bets. If you are playing for a living, you should have at least 800-1000 big bets plus six months living expenses.

[/ QUOTE ]

I have some NL experience, but am a newbie to LHE. If I want to be on a very conservative and secure bankroll management, is 1000 BB enough ?


[/ QUOTE ]
Bankroll management is for winning players. If you don't have a winning track record or similar evidence, then you should set a budget. You should not worry about bankroll management yet.

While it can take 20k hands to be confident that you are winning from the resuls alone (usually fewer hands at microstakes, and more hands at higher stakes), you may be confident that you are a winning player long before then if you pay attention to more than the results.

Once you have established that you are a winning player, the bankroll you need depends on your win rate, standard deviation, and personal risk tolerance and ability/willingness to move down when you hit a bad streak. A good formula to use is c * SD^2 / WR. c=2 is generally considered aggressive, while c=4 is conservative. Since you are dividing by your WR, if your win rate is only half as much as someone else, then you need a bankroll that is twice as much in order to have the same level of safety. If you have only just established that you are a winning player, then you should be conservative with your estimates of your win rate, and you should plan to revisit your bankroll requirements later.

If you plan to withdraw all of your winnings, you need a much larger bankroll than if you plan to leave much of your winnings in.

Typically, you will need far fewer BB in softer games than you do in tougher games for the same level of safety. Thus, no fixed number of BB is generally applicable.