PLO with no bankroll

[luckyjimm]

Thanks for your reply, cymr. Yes, I think you've put it very well. It's about being indifferent to money. When I'm losing I get upset; when I'm winning I'm rushing. It's like bi-polar disorder, all over the turn of a few cards.

I've gone on crazy runs so many times, from £200 to $5500 or £130 to £2600 in the course of a day, and every time ended up busto by high-stakes multi-tabling or some similar lunacy. To be a winning player you need to be consistent it's as important to be able to handle winning, as well as losing.

What I've being doing to try to control this is using the transfer function on the skin I use to send money to a trusted friend whenever I get above a certain amount. So, with e178 in my account now, I can send him 140, and start again from the beginning knowing I've money in the bank. On the skin I play there's a double buy-in from 0.50/1 up, so the games really get big. I'd just like to have a comfotable roll for the smaller games, and learning money management is at the heart of that.

[bengali]

I kind of had the same problem as you before. Though Ive never been a hard tilter, there have been times when Ive had like a glass ceiling. When my bankroll hit $1000 for example (i started with 50) I couldnt keep winning. I didnt know it but I didnt concentrate as well when I already had accomplished reaching "so high". Eventually what I realized was that it all came down to motivation. What I did was to set a new goal - $2000. This gave me a purpose playing, not just sit down and play - sit down and work towards my goal.
I wont play HU 200 anymore cause if I lose it would make my goal much more distant, and I know I dont have the bankroll for it.

[Troll_Inc]

[ QUOTE ]

When I look at my own results compared with the results of similarly skilled players (even players significantly better at poker then myself) the one difference that really stands out is that I manage my money well.

[/ QUOTE ]

To the OP, in addition to not going on monkey tilt and blowing your entire bankroll, you can also play more conservatively which will reduce your downswings (and upswings too). You don't have to become a complete nut-peddler, but instead of doing things like pushing flops where you are a 55/45 favorite, just call the flop and evaluate the turn.

Also,
* Tighten up preflop and play only premium hands eliminating the marginal holdings like 3 flushes, low pairs, danglers, etc
* Play more passively, especially preflop. Exercise pot-control.

Again, you will be violating the FToP, but if you want to play PLO like the top players you are going to need to the 50 buyins that they have.

[luckyjimm]

Thanks for all your advice. Yes, it's about avoiding crazy monkey tilt. The e29 I put in on Thursday evening I'd got up to e178 by Friday lunchtime in three hour's play. Then I played more after work, briefly got up to e240, but then went on crazy tilt. I was playing two tables with e50 on each, doubling up on one, busting on another, etc. I'm just as capable of playing badly as I am playing well, and this time I certainly played badly, calling every pre-flop raise, not betting hands when I had them made (I lost a buy-in to a two or possible four-outer by checking a big pot when I made full on the turn with QQ on KQJ K board when an A came on the river - my opponent had pocket aces when I hoped he had the straight). And I just wasn't running as good as the day before, so when I made nut straight on Q25 6 board and get a player all-in for a buy-in, the board pairs for him on the river and he admits he hadn't even seen my straight. Then after I lose a big pot I start throwing my remaining money around...

I just need to learn to play cautiously when I'm winning, not to let the money panic me, and to know that there are times when I just shouldn't be playing poker. If I'm not playing my A-game, don't play at all.

Failing that, I'd just like to limit the amount I deposit to around 60 euros / 80 dollars a week, which I can afford to lose. So many times I've run e20 into e200. If I then lose it, as I did on Friday, I don't mind so much as if I'd deposited e200 in the first place and spunked all that.

[RoundersRocks!]

I've been living off poker for 2 or 3 years and, embarassingly, I will admit I never had a real bankroll. I live a very modest lifestyle and aside from rent and food, my bank account is pretty much my bankroll.

When I need money for rent or something I lock myself in my room and play poker till I have it, the rest of the time I hang out play videogames. (and, you know, live life.)

I have gotten dangerously low on money twice in the last 3 years. And I have had more than a couple scary times. The way I do it is the worst way you can do it, it assures you don't move up in stakes and it makes your life have needlessly stressful periods.

Bankroll is the most important part of poker.
That, and knowing when to stop a session.

[luckyjimm]

Yeah, I agree having a bankroll is crucial if you really want to know if you're a winning player. I'm obviously not a long-term winning player at the moment, due to tilt and moving up limits. But if I can get used to winning and having money in my account, and not feel the need to keep playing till I'm busto, hopefully I can become one.