Bankroll management for dummies.......By jontm Feb 07, 09 02:24 PM
Took the homegame bottles in for $30 and have $45 sitting in my SC account + another $15 left over from the other SC check......Hmmmm enough for 3/6 or 4/8 buy in! Maybe a $60 dollar freezeout. Or I could hit the ATM and top it up for some 1-2NL! Not very deep stacks to play with though so my hands better hit and hold........
If I cashout the $45 dollars I will lose 30% to the IRS since I'm Canadian. Don't really want to hit the ATM and I'm gone rent movies or something with the $15. Gotta pay the player!
So I'm left with $30. No casino. But if I plan to buy into (3) $10 home games, since I keep books I know after the last 2 years of home games I can Expect a $3.30 cent return per $1.
That makes my $30 turn in to $99. Do this again and we are looking at about $327.
Now its time to think about a $40 or $60 entry. Still a little high for the $327 bankroll but I'm recreational....so why not!
The best thing I could do is invest it all in home games once more. Now I'm sitting at 1k and $60 is reasonable. But this is what a pro player would do......still learning that discipline and there are always things to buy.
What about that $45 dollars at SC? Well since the IRS will stroke me, I should wait till I have $55 and buy 3 months. I save on my dues and taxs. I gain a few shots at the WSOP, Bellagio and the chance to play for a few 100k in available prize money.
So I'm $10 dollars shy but I'm paid until March 18th. Here is the worst thing I can be up against: I only have to cash in 1 or 2 dailys to reach this goal. Or I need to finish in the 400's in the 30k before then or 181st in 2 of the 5 blue tokens between then.
If I fail to do so....I can buy 2 months and be half way to my next 1. I will have until May 18th to worry about that.
If I surpass this goal.......
The rest is GRAVY!
Its that easy.
I used this strategy to come out 3.5k ahead in 2008. Whats 3.5k you ask? 1 trip to Vegas all expenses paid. While I was there I visited the WSOP and the Bellagio. Didn't play those evnets....but I did play alot of poker in the funnest place on the planet. With the right attitude you can still consider this an all expense paid trip to either.....IRS (E) baby!
Saturday, February 7, 2009
Free Bankroll Tracker! for dummies!!! (PART 2)
Free Bankroll Tracker! for dummies!!! (PART 2)By jontm Feb 07, 09 06:30 PM
It is avilable from alot of different places and compatibale with all systems.......user friendly......A calander!
Write down your wins and loses and your buyin and wether it was a cash or tourney, casino or home game.
This handy tool can also be used to track monthly bills and switching colors allows for multiple users. The data can than be uploaded manualy and numbers crunched using your computers "calculator".
I share mine with my wife, whom I also bankroll. Although she plays less (and SOME might say better when she does), this system allowed us to calculate a 2.5k profit for her in 2008.
So for those who follow my blogs, no I didn't spend that money twice...she likes to "invest" her profits on bargins, toys for us and things "for the family" like furniture or her nails........
We went to Vegas together and if we had won enough in the first few days, one of us would was to play a $1500 WSOP event. Didn't happen, but she sure did shop and away from the tables we had great food and good times.
The IRS (E) living large lifestyle....LOL.
All jokes aside, its to easy to ride the highs and not spot the lows if you don't keep even rough records. This is usually how players find themselves in trouble....not keeping books.
Bad beats are overhead but usually won't put you in the hole.
Not having a clear picture of dips will leave you without an indicator that a leak has sprung or that you need to step down.
With my method at years end I like to subract another 25% as a safety margin for missed entries, expenses like gas to out of town events etc. Just another way to keep things honest. Being more in the green than you know is better than the opposite.
Keep in mind aside from your profits you still get alot of fun nights, some comps here and there and alot of steaks on the barby with friends!
There is big line between profitable and success full play and proffesional play.
With higher costs of livings and a starving economy, I thought it would fun to show alot of players can still be active with no more than the empties!
Take care and Good Luck!
It is avilable from alot of different places and compatibale with all systems.......user friendly......A calander!
Write down your wins and loses and your buyin and wether it was a cash or tourney, casino or home game.
This handy tool can also be used to track monthly bills and switching colors allows for multiple users. The data can than be uploaded manualy and numbers crunched using your computers "calculator".
I share mine with my wife, whom I also bankroll. Although she plays less (and SOME might say better when she does), this system allowed us to calculate a 2.5k profit for her in 2008.
So for those who follow my blogs, no I didn't spend that money twice...she likes to "invest" her profits on bargins, toys for us and things "for the family" like furniture or her nails........
We went to Vegas together and if we had won enough in the first few days, one of us would was to play a $1500 WSOP event. Didn't happen, but she sure did shop and away from the tables we had great food and good times.
The IRS (E) living large lifestyle....LOL.
All jokes aside, its to easy to ride the highs and not spot the lows if you don't keep even rough records. This is usually how players find themselves in trouble....not keeping books.
Bad beats are overhead but usually won't put you in the hole.
Not having a clear picture of dips will leave you without an indicator that a leak has sprung or that you need to step down.
With my method at years end I like to subract another 25% as a safety margin for missed entries, expenses like gas to out of town events etc. Just another way to keep things honest. Being more in the green than you know is better than the opposite.
Keep in mind aside from your profits you still get alot of fun nights, some comps here and there and alot of steaks on the barby with friends!
There is big line between profitable and success full play and proffesional play.
With higher costs of livings and a starving economy, I thought it would fun to show alot of players can still be active with no more than the empties!
Take care and Good Luck!
My new Game as taught by You! (repost)
I've blogged a million times, read a million more and love the community pages and forums. I've had a month away working, with poker always rolling in the back of my mind. From all the great advice and reflection, this is what I have come up with:
1) Decide why you are playing a hand before you play it. Do you intend to see a river? You need to hit and hit hard if so.If you are playing it to out play an oppenent, then do it. Represent it well and don't slip up. If things aren't going well, fold.
2) The strongest hand doesn't always win.This is true of horses, sports teams and pocket Aces. The best guy doesn't always get picked, the fastest car doesn't always win. It is a rule of the universe. Pick your spots and tools well, but don't expect not to spin out or trip even with the best odds.
3) With that said, Why Race?If you commit to seeing 5 board cards, you commit to the will of the poker gods. You lose the oppurtunity to outdrive, outplay and out run your opponent.
4) Ace rag sucks. If you are going to race.If not, play it to hit a fit or fold hand, or to simply outplay the other player. You probably don't wan't a river here.
5) The river sucks. Why get there?Unless you have the nuts, you can always get outdrawn. Play to take it down before, or get there becuse you have the best hand and you know it. The nuts help.
6) Position is everything. Commiting to even the best of hands in early spots can cost everything. You have to decide wether you are comfortable against those ahead of you, before you get in. AK is no good if you fall in love and your opponent is a great post flop player. You miss that player might take you for a fatal ride. On the flip side, you have position you are in the drivers seat.
7) Represent hands, don't bluff. If you want to bluff an ace, raise pre-flop. You want to bluff a straight or flush, play it like one. All ins don't sell hands nor do overbets. Do you buy things just because the salesmen is pushy. If you do, thats food for thought. If you don't why not? Cause it stinks and looks to good to be true. More cautious if it seems to good to be true? Exactly. Sell it like that.
8) Selective aggresion wins.The top players throw out bets you can't call. When youv'e shown you can't or won't. Agression requires weakness. Find it and exploit it. Wether its in a hand or a tight player at the table, weakness is chips in your stack. And if you don't someone else will.
9) Get as many chips as you can out of your good hands.Don't be afraid to get them out there cause you might miss or they might fold. Put them in so they can be matched. Find those magic numbers that opponents are willing to pay. Don't let players peel of cards because you think your one pair is good. Trap with the nuts or make em pay on most every street.
10) The cards barely matter.When you are playing your best, how you play is what determines the win. You don't have to be a card rack. You find spots to represent, pick weaker opponents and don't showdown with second best.
11) SPOY or any other title is earned, not deserved. Another rule of the universe. Whatever the critera is, we don't make the rules. Find ways to make the rules work for you. Poker is cruel, life is cruel. You are in control of your game. If you want to do nothing else but try to be the best, it's on you. Understand that time, relationships and mental health are all sacrifises to be made in this mission. Those that are willing to go that extra mile, endure hard times and look out for number 1 will be number 1. What really matters to you? At the end of the day, will you be happy? If so then do it. Remember not everyone will suceed and number 1 is always replaced eventually.
12) Decide why you play. Focus is important if you plan to win. No doubt, no arguement.Are you playing for fun? For distration? For money? For the title?If you are playing for fun, don't worry about losing. You have already decided thats not important.If you are playing for distraction, enjoy the good times and friends. Enjoy the time away from lifes stresses. Don't worry about winning, you have already made that decision.If you are playing for money. Play to be profitable. "Grind it out". You don't need to win, only to come out ahead. You have already made that decision. If you are playing for the title, don't worry about the distraction, the good times, the friends, the stresses of everyday life or money. Play to win
1) Decide why you are playing a hand before you play it. Do you intend to see a river? You need to hit and hit hard if so.If you are playing it to out play an oppenent, then do it. Represent it well and don't slip up. If things aren't going well, fold.
2) The strongest hand doesn't always win.This is true of horses, sports teams and pocket Aces. The best guy doesn't always get picked, the fastest car doesn't always win. It is a rule of the universe. Pick your spots and tools well, but don't expect not to spin out or trip even with the best odds.
3) With that said, Why Race?If you commit to seeing 5 board cards, you commit to the will of the poker gods. You lose the oppurtunity to outdrive, outplay and out run your opponent.
4) Ace rag sucks. If you are going to race.If not, play it to hit a fit or fold hand, or to simply outplay the other player. You probably don't wan't a river here.
5) The river sucks. Why get there?Unless you have the nuts, you can always get outdrawn. Play to take it down before, or get there becuse you have the best hand and you know it. The nuts help.
6) Position is everything. Commiting to even the best of hands in early spots can cost everything. You have to decide wether you are comfortable against those ahead of you, before you get in. AK is no good if you fall in love and your opponent is a great post flop player. You miss that player might take you for a fatal ride. On the flip side, you have position you are in the drivers seat.
7) Represent hands, don't bluff. If you want to bluff an ace, raise pre-flop. You want to bluff a straight or flush, play it like one. All ins don't sell hands nor do overbets. Do you buy things just because the salesmen is pushy. If you do, thats food for thought. If you don't why not? Cause it stinks and looks to good to be true. More cautious if it seems to good to be true? Exactly. Sell it like that.
8) Selective aggresion wins.The top players throw out bets you can't call. When youv'e shown you can't or won't. Agression requires weakness. Find it and exploit it. Wether its in a hand or a tight player at the table, weakness is chips in your stack. And if you don't someone else will.
9) Get as many chips as you can out of your good hands.Don't be afraid to get them out there cause you might miss or they might fold. Put them in so they can be matched. Find those magic numbers that opponents are willing to pay. Don't let players peel of cards because you think your one pair is good. Trap with the nuts or make em pay on most every street.
10) The cards barely matter.When you are playing your best, how you play is what determines the win. You don't have to be a card rack. You find spots to represent, pick weaker opponents and don't showdown with second best.
11) SPOY or any other title is earned, not deserved. Another rule of the universe. Whatever the critera is, we don't make the rules. Find ways to make the rules work for you. Poker is cruel, life is cruel. You are in control of your game. If you want to do nothing else but try to be the best, it's on you. Understand that time, relationships and mental health are all sacrifises to be made in this mission. Those that are willing to go that extra mile, endure hard times and look out for number 1 will be number 1. What really matters to you? At the end of the day, will you be happy? If so then do it. Remember not everyone will suceed and number 1 is always replaced eventually.
12) Decide why you play. Focus is important if you plan to win. No doubt, no arguement.Are you playing for fun? For distration? For money? For the title?If you are playing for fun, don't worry about losing. You have already decided thats not important.If you are playing for distraction, enjoy the good times and friends. Enjoy the time away from lifes stresses. Don't worry about winning, you have already made that decision.If you are playing for money. Play to be profitable. "Grind it out". You don't need to win, only to come out ahead. You have already made that decision. If you are playing for the title, don't worry about the distraction, the good times, the friends, the stresses of everyday life or money. Play to win
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