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Bankroll building ???

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  1. TheFolddaddy TheFolddaddy is offline

    United States

    Posts: 754
    Joined: Jul 05

    Dec 31st, 2005 (12/31/2005 10:47pm)

    Hi All,

    I've always been a fairly middle of the road player. I'd win a tournament here or there, but never formed any sort of consistency.

    Recently I left my job and have been playin full time and brought my bankroll from around $2,000 to $40,000 in the past 3 weeks (hello IRS!). I've never had a bankroll this large before in my life so I'm attempting to sort what level I should be playing at. Also, I am surprised at how quickly it got to this level, bringing about fear that it could be just a lucky run.

    I've won a few tournaments for about half of that and have been tearing up the 10/20 nlh on pokerstars for the other half.

    Should i move up in cash game limits? Or is my bankroll still not large enough? If it is, what level would be appropriate? What percentage of your earnings do you withdrawl?

    Having finally found a consistency in my game, I want to play within a certain degree of comfort and want to manage my newfound success well.

    Any suggestions would be appreciated and happy new year. Not trying to brag about my newfound success, just want to make sure it continues. Feel free to PM me if you'd like.
  2. gamaitec gamaitec is offline

    Arlington, VA
    United States

    Posts: 3,860
    Joined: Dec 05

    Dec 31st, 2005 (12/31/2005 10:53pm) in reply to TheFolddaddy

    Now I do not know you personally or your talent level, but do not move up right now. Continue to play at the level you are comfortable at. You are probably in a very good run to move up that fast and remember there will be bad times, I have taken 50 dollars, turned it into 2000 and back down to 700 before in the course of a 2 weeks. Which is still a good rate of return in the long run. Keep at it, once you get a little more money you may want to play one session at the higher level and see how you do. POKER is about money remember that.
     
  3. aces_s00ted aces_s00ted is offline

    Posts: 35
    Joined: Oct 05

    Dec 31st, 2005 (12/31/2005 11:07pm) in reply to gamaitec

    I'd say withdrawal enough to pay for all your rent, food, etc for 6 months then stay at your current limits.
  4. TomHimself TomHimself is offline

    Riverhead, NY
    United States

    Posts: 2,252
    Joined: Jul 05

    Dec 31st, 2005 (12/31/2005 11:40pm) in reply to TheFolddaddy

    ship it to UB and tear up the 25/50nl
  5. TheFolddaddy TheFolddaddy is offline

    United States

    Posts: 754
    Joined: Jul 05

    Jan 1st, 2006 (1/1/2006 12:21am) in reply to aces_s00ted

    I actually already took out 10k, and already had 6 months living expenses saved up. I appreciate everybody's suggestions thus far.
    Thread Starter
  6. kevin070 kevin070 is offline

    Gaylord, MI
    United States

    Posts: 1,260
    Joined: Aug 05

    Jan 1st, 2006 (1/1/2006 12:26am) in reply to TheFolddaddy

    transfer half to kevin070 on stars j/k
  7. grapsfan grapsfan is offline Head Curmudgeon

    Rosemount, MN
    United States

    Posts: 7,980
    Joined: Jun 05

    Jan 1st, 2006 (1/1/2006 12:55am) in reply to TheFolddaddy

    Absolutely DO NOT move up any further in limits until you have a really solid feel for your long-term forecast for results if you stay where you are. Three weeks is by no means a reliable indicator. Hell, I'd say that $40K is only twenty buy-ins for a 10/20 NL game, and probably not enough for that game, much less moving up to a 25/50 game. That game could wipe out half your roll in one sitting, easily.

    If you've won several tournaments in the last three weeks, you're on a great variance upcycle. Enjoy it. Have fun with it. But by no means should you think that's a regular occurrence until you've done it consistently for several months, if not years. Since you are now relying on poker for your income, you have to make the grinder move. Now that you've taken a bunch out for 6 months worth of expenses (good!), I would drop back down to multi-tabling 2/4 NL. You should be able to generate enough income at that level, predictably, to know where you stand without putting a large chunk of your roll in play at any one time.

    You have to treat your bankroll like the principle in an investment, and the winnings like interest. Try not to dip too much into the principle.
     
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