1. Built my roll to $4k and have now lost it all, busto!

    How did I get here:

    1) Bankroll management - working to 250 buy in´s initially but never dropping below $3-5´s even when I should have to avoid the bust. I think 500 is ideal with some of the turbo´s I play.
    2) Bankroll management - having little stabs at higher buy-ins when I shouldn´t.
    3) Game selection - Continued to play to 750-1000+ sizes when I should have avoided these altogether

    &

    4) "Insanity: doing the same thing over and over again and expecting different results"

    I should have stopped at X point in time, taken stock of my game and taken points 1,2 &3 more seriously.

    I´ve never had an ego about my game, I recognised myself as a marginal winning player who studies to get better.

    If I carry on, I have to assume I am a fish and take this whole game back to basics.

    My choices:

    1) Deposit $100 with the aim of hitting $1k playing smaller field MTT´s or sit n go´s.

    2) Quit - give it up as a bad job & find another hobby.

    It is pretty close for me. Anyone got any other polite suggestions?
    Edited By: samj123 4 Weeks Ago at 04:51 PM
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  2. Unfortunately, there are many, many otherwise good players who are simply not cut out for the bankroll management aspect of this game. Many of these individuals also have trouble with their non-poker finances re: debt management, cash flow, as well. If you are a spender outside of poker rather than a saver, that behavior can easily translate into doing silly things with your poker "savings" as well. In this, case, might be time for a break to work out your finances overall.

    But if you have good nonpoker spending habits, you have a decent shot of translating those habits to your poker life as well, using all of the BRM techniques posted here on PocketFives. In this latter case the $100 deposit might be worth the opportunity to do it right this time!

    Best of luck with whatever you decide!
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  3. Small field mtts are the way to go I'd say, try Betvictor or similar sites, lots of nice tourneys with about fifty runners, lots of decent regs but the fish are big ones. Bank roll discipline - as I think you know - is really important. I doubt you are a fish though, try a smaller site with smaller fields and you might surprise yourself. Good luck as always.
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  4.  
    Originally Posted by cage View Post

    Small field mtts are the way to go I'd say, try Betvictor or similar sites, lots of nice tourneys with about fifty runners, lots of decent regs but the fish are big ones. Bank roll discipline - as I think you know - is really important. I doubt you are a fish though, try a smaller site with smaller fields and you might surprise yourself. Good luck as always.

    Maybe P5´s are offering a deal wth BetVictor and a couple free months with TPE, might get me motivated again. Thanks Cage, you are full of good ideas.

     
    Originally Posted by mikewebb68 View Post

    Unfortunately, there are many, many otherwise good players who are simply not cut out for the bankroll management aspect of this game. Many of these individuals also have trouble with their non-poker finances re: debt management, cash flow, as well. If you are a spender outside of poker rather than a saver, that behavior can easily translate into doing silly things with your poker "savings" as well. In this, case, might be time for a break to work out your finances overall.

    But if you have good nonpoker spending habits, you have a decent shot of translating those habits to your poker life as well, using all of the BRM techniques posted here on PocketFives. In this latter case the $100 deposit might be worth the opportunity to do it right this time!

    Best of luck with whatever you decide!

    Thanks Mike. I´m definately a saver, I think this is part of the reason why it will hurt to re deposit!

    Regardless, I definately need time to lick my wounds & decide whether I have the energy to start from the beginning again & of course revisit my game.
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  5. Sam,

    I want you to consider your situation a little bit outside of poker. Can you calculate how much time you have spent on playing and studying, etc? How many days? What have you gained during that time (ie relationships, experience, lessons learned, etc)? If what you have accomplished was worth the $4500 then absolutely continue. Life/hobby is about your journey not just the $.

    Now if you are doing this to make a living, I strongly suggest taking a hiatus and focus on advancing your career outside of poker. Go for promotion, get 2nd job, start saving. Make enough money outside of poker so that when you play poker the $ means nothing to you. Hopefully when you come back you can play live or just play 1 table online at a higher buy-in game. It will be hard to just stop, but filling your time with something else helps, seeing your bankroll from 2nd job just climb should help also.

    GL
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  6.  
    Originally Posted by DaddyDuck View Post

    Sam,

    I want you to consider your situation a little bit outside of poker. Can you calculate how much time you have spent on playing and studying, etc? How many days? What have you gained during that time (ie relationships, experience, lessons learned, etc)? If what you have accomplished was worth the $4500 then absolutely continue. Life/hobby is about your journey not just the $.

    Now if you are doing this to make a living, I strongly suggest taking a hiatus and focus on advancing your career outside of poker. Go for promotion, get 2nd job, start saving. Make enough money outside of poker so that when you play poker the $ means nothing to you. Hopefully when you come back you can play live or just play 1 table online at a higher buy-in game. It will be hard to just stop, but filling your time with something else helps, seeing your bankroll from 2nd job just climb should help also.

    GL

    Some good points.

    I quit my job to be a full time mum. I now work part time from home and the rest is family stuff. Poker comes 2nd to all this & I´m very fortunate to be in this position. But, I wanted poker to be profitable.....I guess most recreational players still want to be good enough to turn a few $$$. I must have an ego about it, because it really stings to have lost my roll.

    But you are right the "gains" are more than $$. This hobby of mine cost me $50 initial deposit and kept me sane when my kids were babies/toddlers and my days were filled with nappies, feeds & nap schedules! And now, poker is my downtime.

    There is only one thing for it really.... start the slow slog back.

    Thanks guys, I thought I would get trolled for writing such a post, but you´ve all helped.

    Anyone for more cheese?!
    Edited By: samj123 3 Weeks Ago at 10:32 AM
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  7. #1 advisor tho GL
     
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  8. You can run it back up, just don't let the game consume you. Maybe start the game out this time with some new goals in mind? Like build in some rewards for yourself? Hit $200 and pull out $50 for a new ...

    GL :)!!
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  9. agree with a lot of the things people mentioned in this thread. The biggest thing though, is you simply have to learn to have the discipline to stick to your bankroll management guidelines. You issue actually sounds like less of a BR management issue, than a mindset/self-control issue. Load up another $100 and get back on the grind.
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  10. Negreanu went to Vegas with all of the confidence in the world and went home broke back to Canada. Then he did that again. Then again. Life and spirituality for that matter are all about the progress we make with the time we have. As DaddyDuck already said, make sure you are growing either financially or as a person through this experience and everything will work out.

    I've never been a huge subscriber of bankroll management, since I've always had a full time job with a good salary. But in this field bankroll management is like managing a balance sheet and budget of a company. You have a fiduciary duty to yourself to avoid the risk of ruin for everything you have built. Bankroll management really was invented by the consummate professional that realized there are so many talented players in this game with terrible financial management skills. There is a significant edge to be gained by being more fiscally responsible than a majority of your competition. Now get back in there and take back your edge. Be tough and go out there and do it the right way without taking shortcuts. It'll make you a better player and you'll stay relevant.
    Edited By: negrealanu 3 Weeks Ago at 10:40 PM
     
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