Experiment

CrazyLond · #1 08-05-2007, 03:52 AM

I've been playing poker for about 3 years. During that time, I have read a multitude of books and played thousands of hours, both online and at B&M casinos. Until January, I was drinking alcoholically which interfered dramatically with my results. I have posted on here before regarding the thousands I lost at Pai Gow at Hooters, etc. Anyway, I stopped playing for a while when I stopped drinking and started again a few months ago. I thought not drinking would solve my problems and while it solved many in my life, I still seem unable to consistently win at any game I play, whether online or at the casino. This has baffled me. It seems that after studying the game for this long and with the amount I have played, I should be able to at least beat games full of drunks at the casino.

Bankroll management may seem like a simple concept to many, but it is one which has escaped me for the time I've been playing for whatever reason, probably my own arrogance. It is something I haven't read a lot about in the books I have read and haven't thought about much until I started reading these forums. Someone on here said winning poker is 80% bankroll management and that really hit me.

I read about Chris Ferguson's $0-$10000 experiment on full tilt poker and this concept suddenly makes a lot of sense to me. I have about $30 right now in my ftp account. I am going to follow the system he outlines and see where it takes me. By playing the lowest limits available, I hopefully will be a winning player. If I am, I will eventually have enough of a bankroll to take a "shot" at the next highest limit without risking going bust. If I lose, I move back down. If I can't win at the lowest limit, then at least I will find that out and will lose a lot less than I would at any higher limit. If I can't stick to this, I need to consider giving up the game for good.

Do I have the right idea about becoming a winning player? I understand that constant learning needs to take place, but I have learned enough about the fundamentals of the game over the last few years that I believe I can beat the lowest limit. Another of my problems has been tilt, but I think playing within a bankroll will help that tremendously.

One last question: Ferguson's system allows for playing both cash games and tournaments. Is this wise for someone attempting to manage a proper bankroll for the first time or should I stick to just one game for now?

Any other input or advice would be appreciated.

Praxising · #2 08-05-2007, 04:17 AM

Read The Poker Mindset.

teacher66 · #3 08-05-2007, 02:17 PM

Why do you play poker? managing a 30.00 "bankroll"? are you kidding me?

CrazyLond · #4 08-05-2007, 08:39 PM

I looked that up and it does look like a good read, Praxising.

Thanks for your thoughtful contribution, teacher. I hope you didn't hurt yourself coming up with it.

erac22 · #5 08-06-2007, 04:14 PM

[ QUOTE ]
Why do you play poker? managing a 30.00 "bankroll"? are you kidding me?

[/ QUOTE ]

I "managed" a $50 bankroll and have turned it into 6 figures in 3 years. Players who manage their 2 digit bankrolls properly are more likely to manage their 5 digit bankrolls properly. Money/risk management is a skill that must be practiced and devloped, just like any other skill.

silver book · #6 08-07-2007, 06:00 AM

someone once said that you should take more risk with a smaller bankroll then with a larger one because if you lose your small roll you can easily just start over again.

nanamar05 · #7 08-07-2007, 06:24 AM

[ QUOTE ]
someone once said that you should take more risk with a smaller bankroll then with a larger one because if you lose your small roll you can easily just start over again.

[/ QUOTE ]

Unless you are dirt poor like OP.

thomaz · #8 08-07-2007, 08:47 AM

In your position, I would not want to play with $30. Playing on small stakes tables like the ones you would have to is IMO harder than playing a $1-$2/ $2-$4 game. Unless you only want to play for fun/ the occasional $10. In your position I would invest more into your account. Although I did learn the hard way about bankroll managing, having brought my account from $80 to $1500 in a month only to lose it all in a terrible 3 day run having misguidedly decided to play only $1-$2 and $2-$4 occassionally

El_Hombre_Grande · #9 08-07-2007, 09:33 AM

It may be that you are simply not good at poker.

If you cannot consistently beat small stakes already after 3 years, thousands of hours and countless books, you may have to face facts.

And $30 isn't the way to start. Its ridiculous.

CrazyLond · #10 08-07-2007, 03:26 PM

I don't just have $30 in there ($50 now) because that's all the money I have in the world. I'm doing it because

A) I want to discipline myself to play with the bankroll I do have.
B) I want to play at the same stakes for a long enough time to determine I am a long-term winner at that limit.

It seems some people think starting with more $ in my account is a good idea. How much would be a reasonable amount and what limits should I be starting at?

I think the reason I haven't consistently beaten small stakes is that I haven't consistently played them. I generally have only started playing $1 and $2 tournaments when I was down to my last $5 or $10.