I have a different take on BRM that after loosing more money then I make (yes, I have a problem but I am trying to get it under control now). I have come up with a plan that allows me to play a much higher percentage of my new bankroll but I have to walk away sooner if I am losing or winning. My thoughts are to take a $50 deposit on FTP and $25 on PS and start at the lowest buy-ins for ring games and SNGs/MTTS and build from there. Here's the catch:
I put 20% of my BR in play for the first 20 sessions and then back it off from there every 20 sessions to where eventually (and hopefully) it will actually be less then 1% in play after 500 winning sessions. Yes I know that this seems odd but using this plan can minimize the hit to my BR by this key element:
I quit winner of 50% of the amount in play (i.e. start with $10 quit when at $15) or I must quit if I loose 25% of my buy-in at that table (i.e. start with $10 quit when at $7.50)
This way, with starting with a small bankroll I can still sit at a table and have a few chips to play with. That lose = 5% of my BR. If I lose.
As far as SNGs & MTTs, I will not buy into any that are more then my allowed losing session amount. Example, I only play tourneys that are no greater then what my max losing session can be. As seen from above, I am only allowed to lose $2.50 so that is the max amount for a tourney that I can buy in too.
for FTP:
BR=$50
%in play = 20
Amount = $10
%to win = 50%
Quit winner at $15
Quit loser at $7.50
Max lose = $2.50
%lose = 5%
This would work the very same way for PS but with only $25 since they have the smaller tables at .01/.02 NL and .02/.04 LT
I would allow myself to keep playing of I'm not tire, the game is sweet, I'm not being a donk, etc.. the things that I can do well when I'm focused. However, I can not lose anymore the 25% of my stack at anytime. So if I am on a rush and sitting at $25, I must leave once I lose 25% of that amount or whatever the highest amount is that I make it to.
I think this this will work well for me, it allows me a little more freedom then what Chris F used and the 5% of only buying in for 5% of your roll.
A great concept of this plan is that over the long term, measured in sessions, I actually decrease the % in play which in turn limits the % lose during a session.
Ex. if I put together an unlikely string of 50 winning sessions on FTP, I would have a BR of $3,525 and risk 14% of that in play which is $508 quitting winner at $761 and loser at $381 which would equal 3.6% of my total BR.
I feel that the key is the conservative plan on winning only 50% of what I have in play and leaving if I lose 25% of what I have in play. This way I can suffer some bad runs but still not hurt myself. I just have to make sure that I don't bonk off all those chips in a big pot or set myself up for 2nd best. But if that happens, I can still recover.
I have it on an excel sheet if anyone would like to look at it and tell me what they think. My only question/concern is when to move up to a higher limit each time. I am also trying to stick to a buy-in guide to where my BR must be to a certain size before moving up.
Thanks for any advise guys.
CP
ftp_pirate@yahoo.com