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Posted: 03-Oct-2009 11:51 by james666
Ok, I am unaware of any poker player who withdraws a set amount each month to live on... That is a very 'ungambler' thing to do. I am not sayin it is a terrible thing, in fact I would love to be able to budget money, and give myself a set wage per month, but the fact is, my budget changes according to my bankroll not the other way around. If you try and budget your bankroll around your present life then you will never succeed in becoming better, earning more, and therefore enjoying a higher standard of living.
This is just personal opinion, and as a lot of people know, I spend a lot of money on wastefull things, therefore I am not the best person to speak to about budgeting!
What stakes you are playing, would be a better souce to base yoru bankroll on. If you want to withdraw $1,000 per month, but played 5 hours a month at $10/$20NLHE, then you would have huge swings for this 5 hour period, and would not neccessarily be guaranteed to make the $1000 every month. If you played $0.50/$1 for 3 hours per night every day, then you would have lesser varience, and would probably be more likely to make $1,000 every month consistently. Therefore playing at this stake, you could easily do what you are doing with a bankroll of $2,000.
look at keeping 30-40x the buyin in your account mid-low stakes cash games if you are a tight rock of a player, or maybe a little more if you are very aggressive, with big swings..