I’ve played at a number of different levels in my poker career, starting out on the $0.05/$0.10 tables and making it all the way up to the heady heights of $5/$10 and £3/£6 (albeit a little under-rolled for that action). My problem has always been moving up too fast and taking too many shots – more often than not after arriving back from a pub or bar where, unfortunately, I’d indulged in too many shots of a different kind. Thankfully I’ve had the good mind to make a few timely withdrawals.
Playing poker isn’t my sole source of income and that’s always given me a loose appreciation of bankroll management, even though I knew full well the importance of sound financial guidelines at the table. After all, it’s not like the balance of my PKR account is all my worldly resources!
However, I’ve come to realise that there’s a problem with playing without any kind of framework or target in place. For me at least, it makes it all too easy to lose focus and undergo too many swings in cash games. I realised I need some objectives to motivate my play, so I’ve gone ahead and set some. I’ve given myself a series of targets, starting small and grinding upwards, but ignoring classic bankroll management rules because, well, poker is not my sole source of income.
The plan
I’ve started with $300 at the $0.50/$1 cash tables with the intention of grinding up to $3,000, giving me 30 buy-ins at $100nl and 15 buy-ins at $200nl ($1/$2). I will then play that higher level until I reach $6,000, when I can move up to $400nl ($2/$4). If my account drops back to $2,000 (20 buy-ins at $100nl), I’ll move back down to $0.50/$1. Likewise if I drop back to 20 buy-ins at $200nl, i.e. if I drop to $4,000 I move back down to $1/$2. Playing 15 buy-ins deep is fairly short-rolled, I admit, but it caters to my take-a-shot mentality and incorporates a very necessary stop-loss mechanism for dropping down and regrouping. This is something I have never had in place before. I’m up to $750 after a good few hours at the table and I’m looking forward to the challenge of grinding back up to $5/$10.
Poker is all about adapting information so it fits into your game and the way you live your life. Set yourself your own challenges but make sure you stick to your rules, as you’re the only one who can truly measure your own success. Good luck!