Money managemnt per session

[papilindo]

I am wondering which of the following (or perhaps some other) is the best money managment method to use per session. The question assumes an hourly win rate of 1.5 big bets per hour (calculated over 1 year of play), playing 3 sessions per day, up to 3 real-time hours per session (on 3 tables), 5 days per week.

1)have a set stop/lock $ amount (to be implemented wether up or down) OR

2)play to the clock, meaning simply play out the full 3 hours per session regardless of amount up or down

I have been using the first method, playing $1/2 on 3 internet tables simultaneously and locking up at $30 (keep $20 and play out $10, with subsequent lockups of every $10 if I continue to win or stopping when that $10 is gone), or stopping if I go down $30. My thought however, is that perhaps the time method is better as over the long run my 1.5 big bets per hour ($3 x's 3 tables = $9) will work itself out in the long run and perhaps win me more money. Also, I wouldn't have the "stress" of getting to the lock up, tightening up my play when getting close, etc. So, in short: is a $ goal based session better or a time based session? Thanks in advance for any advice.

[QuickLearner]

I agree with Mason Malmuth when he writes that money management is a silly subject. Your post isn't silly, though, because you're actually talking about when to stop playing.

I play at each table (that's how I define a session) as long as I feel that I have an advantage. That is, as long as I'm a favorite; and I think any form of stop/loss (or stop/win) system is bad. As far as time played per day, I just play as long as I want to.

Things that make me want to continue: winning, tables where there are gamblers, if I feel I'm playing my best, and if I'm having fun. Things that make me want to stop: weariness, lack of enjoyment, and preoccupation with life's other issues. And I save the beer for after the profit.

Not very sophisticated, I know, but I play a lot and I'm conscious of preventing burnout. If I don't think I should be playing, but have the "poker urge," I read. /images/graemlins/smile.gif

[dogmeat]

I don't really know what you are getting at about the "lockup" of money. If you are a winning player, making 1.5 BB per hour per table and playing three tables at the same time, then your win rate per hour is $9. Play as long as you want when the games are good. Forget about anything else. You don't want to change your play because you are "ahead" at any one point. Poker is really one life-time long session. The hours here and there are only a piece of the whole. You get paid per hour. Put in your hours.

Dogmeat /images/graemlins/spade.gif

[JoshuaD]

I have a tendency to want to leave when I'm up a little bit, so before I play I decide how many hands I'm going to play.

Sometimes I'll go over the hand count, like when the game is particularly juicy or I'm really in the mood to play. But I rarely stop before it, if I do it's almost immediately after I start because I can't find any good games to sit in.

[mosquito]

You will eventually get to the point where you know
how you feel, and how you feel about your play, while
you are playing.

That and evaluating a game for profitablity are your
primary concerns.

Another consideration might be, 'I have to get X amount
of sleep, time to quit, period."

[BradleyT]

Use time as your start/stop guide. You get paid by the hour for playing poker.

[papilindo]

Thank you for all the advice, I have now switched to playing my sessions by time, not amount won/lost.