Bankroll Management

[Rooney]

Im looking to go on a grind, and i was wondering if it was better to set money targets at the end of each day or to set a certain amount of time to play each day aside. Any help would be appreciated.

[herbs916]

You want to play on the stakes which you can afford. Say you have $100, you might want to play in the .25/.50 or lower. any higher you will lose your money really fast if you go on a bad run. The purpose is to keep playing so you wont go broke and able to continue playing.

[Rooney]

You want to play on the stakes which you can afford. Say you have $100, you might want to play in the .25/.50 or lower. any higher you will lose your money really fast if you go on a bad run. The purpose is to keep playing so you wont go broke and able to continue playing.

Yes but i want to know from a day to day basis if its best to play with a target of how much money you want to make that day or if i should set an amount of time i play each day

[PokeYourFace]

tournies, 1% of BR, SnG, 2% of BR, and Ring game, 3% of BR

move up from there as needed

[Sharking]

Setting an amount of time is definitely better than setting a target amount of profit. Mostly because you can't control the results. Setting a max loss limit is a good idea however to prevent tilt. Say a certain amount of max buyins at a cash table (2-3 rebuys). If you play cash you should find the ideal length of time where you are the most fresh, etc.

[JohnnyDeepStacks]

Free download a bankroll calculator called the Fergulator. Google it, free bankroll calculator Fergulator. It basically figures out everything that PokeYourFace said for you, just punch in your bankroll and it tells you what to play and if its ring game when to leave cause you really never want to have more then 10% of your bankroll at risk at one time.

[ROOKMAN]

I use Chris Ferguson bankroll management rules. No more than 5% of bankroll for cash game or SNG. No more than 2% on a MTT. Never have to worry about reloading.

[rghy2]

I think everyone keeps telling you to go back to the standard BRM rules, because each day is different at a poker table. You don't know how variance will affect you, so a money goal isn't a good idea. Somedays you will lose, and somedays you will win, but if you've hit your target in 30 min, why stop if you think you can win more and you're still fresh? As far as a set amount of time, that one is better, but I've noticed my attention span and optimal playing time varies a lot depending on the day. With online poker, I start going brain dead after about 6 hours, but I can more sense that it's time to wrap up whatever I'm in and stop for the day. Sometimes, that only takes 2-3 hours to hit that point, and I don't want to be losing money when I know I'm playing my worst.

[Sharking]

To be honest. Setting short term profit goals or target $ amounts is terrible. It is one of the worst things you can do for your bankroll. I played 200,000 hands over the course of 2 months at .02/.04. I would have streaks where I won 7+ sessions. I would have break even days. And sometimes I got crushed. I ended up barely +2bb/100. Whatever. The point is I had a 50k hand streak where I was not even break-even. A 50k hand streak where I went +5bb/100. So many things you cant control. Even setting an amount of time to play is not necessarily good or bad. But its way better than setting a short term profit goal. Long term profit goals are okay. As long as you can come to terms with how long the long term really is.... wow. Anyhow my advice is force yourself to take breaks a little more often than you think you need them, stay fresh. Start with shorter sessions then build up. Quick breaks help. Breaks after losing. Cheers

[KaineB]

idk man, you should prolly set a cap on what u spend just incase you arent successful that day