Bankroll for full time play

[baztalkspoker]

I've been a semi-pro now for over a year and was a serious amateur for years before that. Now I've come to a point where I will be full-time pro. My bankroll discipline is something I've been working on a lot lately. I've been working off a 1% risk of ruin requirement to move up stakes. This I think was fine for when I didn't 100% rely on my poker winnings. But when factoring in that I now will be relying on poker for virtually all of my income and so I will be looking to remove $4k a month from my bankroll I think it's no longer strict enough.
Is there any Risk of ruin formulas formulas available which could factor in withdrawals from yoiur bankroll?

[Rampage_Jackson]

50-100 buyins is good depending on how comfortable you are with it.

[baztalkspoker]

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50-100 buyins is good depending on how comfortable you are with it.

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Cheers for the reply.
Hmm sounds bout right. Going to have drop down a level then [img]/images/graemlins/frown.gif[/img]

I also just checked the mathematics of Poker book and read in the bankroll section to factor it in to your winrate. So I'll have a play around with some of the formulas there then.

[tozzy]

if you need 4k/month to keep your current level, id suggest youd have at least 20k in your bank account and no less than 100 BIs for whatever limit you are playing.

[baztalkspoker]

I'm looking to put a fairly rigid mathematical formula together to work it out. I noted that in Mathematics of Poker they use a risk of ruin with uncertain win rates. Though I have a mathematical background I'm a bit rusty so I could have done with seeing the formula with some practical examples displayed. Not sure how to implement the formula in practical terms yet. Anyone know of any examples?

[Scipio]

100 BI Bankrollmanagement is very bad.
IF you loose the first 50 BI´s you will loose the next 50, too.

My biggest downswing was ~13 Stacks, so if you have the right winrate a bankrollmanagement of 20-30 stacks is no problem.
If you loose to much, simply move down in the limits.

[mwalsh2020]

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if you need 4k/month to keep your current level, id suggest youd have at least 20k in your bank account and no less than 100 BIs for whatever limit you are playing.

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this is the best advice someone has given you so far, although I think 100 BI is excessive here.

I would recommend setting aside living expenses (6months would be ideal, 3 at a minimum I would say). The key is to add to your living expenses account before using the money you win to move up in stakes or to buy extra goodies. If you always keep yourself cushioned for the upcoming months, you won't feel psychologically crushed after losing money with rent coming up.

[tozzy]

obv 100BIs is gonna cost you if you were good enough to beat nl1k. but then, when you play for a living, i dont think moving up should be your goal.

[Ajahn]

ONE JILLION DOLLARS?

[Majik]

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ONE JILLION DOLLARS?

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no that's too much