Keeping My Bank Roll/ Improving It

[Jaymick]

Alright guys Im an 18 year old kid that is just entering his Senior Year. I started Playing Poker the Day i turned 18 and form about $200 i got it up to around 8k. Since then ive bought a lap top, Ipod, and food. I usually save my money pretty well. After all my spendings im now around 6k. I built my bankroll mainly from playing the 400nl tables and by finishing pretty well in a few MTT. Lately ive been multi tableing the 30/3's. i seem to profit well in them. but for some reason when im running bad im reaqlly running BAD.

Now what i was wondering is To Improve My bank Roll I should:

1. Invest some of it into stocks etc.
2. Start Up Some Sports Betting
3. Fine Tune my Game at either the S&ng or the Ring Games.

Oh ya 1 last question. How much does it cost monthly to live on your own. DO i have Enough? Should i try and Biuild it up?

All Thoughts Are Welcome. Please Be Honest. Negative Feedback is welcome (constructive Though please.)


Thanks alot guys it seems like you all are very successfull poker players and i jut want to get some tips on how to improve my "money managment"

jaymick.

[citanul]

uh, why not keep playing the games that got you where you are? the cash games? why did you switch to the sngs?

you have enough money to live on your own for a while. but clearly to live forever on your own, you need to make more. things like this depend on a lot of factors such as where you are and how well you want to live. buying yourself some cool crap when you're 18 with a bunch of money lying around is completely ok though.

i would not recommend sports betting as a bankroll builder. nor would i suggest any form of stock investment. honestly, i'd suggest like, a job, or something. but really, if you want to talk about a gambling bankroll, it seems that you might have some level of profitability at poker, so why not build your poker bankroll playing that?

citanul

[Mr_J]

"Now what i was wondering is To Improve My bank Roll I should:

1. Invest some of it into stocks etc.
2. Start Up Some Sports Betting
3. Fine Tune my Game at either the S&ng or the Ring Games."

Do all 3. You only need a small amount for poker. You need a large amount for sports, but it doesn't all need to be immediately accessible, so you can invest it in stocks or something. This puts your money to work in multiple ways.

"Oh ya 1 last question. How much does it cost monthly to live on your own. DO i have Enough? Should i try and Biuild it up?"

Depends on whether you have to pay rent well in advance or not. Best to create an 'expense account' and put at least 6months in it. This includes rent, food, clothes, gas, out money etc. Every month out more money into it so you always have at least 6 months expenses saved. More is better.

How much do you need? Totally depends on where you want to live and what you do outside poker (eg parties = free but clubs+drinks = $$$).

Keep playing lower limits ($33s are fine) until you are confident that you're decent at that level. Keep accurate records etc. $2k for a BR is fine at that level. If you drop to $1k just jump down to the $22s.

[gildwulf]

What about casinowhoring and bonuswhoring?

[45suited]

Congratulations on your success. But don't get carried away with poker. Go to college. Don't be in a hurry to move out and play poker full time. You're young and obviously probably pretty intelligent. Get an education, poker will always be there to play for fun / profit. But look at it as a possible supplement to your income in the future while you have a real job.

Whatever you do, don't think, "I'm good at poker, who needs an education?" Yes, there are people that do this and are wildly succesful, but you will never regret getting an education now. Many others have horror stories and some have shared them, many have not.

[Jaymick]

THank you Citanul and mr. J. you both seem to be very educated on this subject so i was really hoping you guys would respond. (i no i dont have many posts, but ive been looking around hear for quite a while.) Ya i dont no i was really doing well in the 400nl tables. I buy in short stacked tho like (200 /images/graemlins/mad.gif) i just had 1 bad run and lost alot of confidence in that. I think i need to just grow some balls and get back up to where i was doing well.

thanks again.

jaymick

[Jaymick]

your so right 45. im not the best student but i can get to go to a decent college on a scholarship thru golf. I think this may help me in the long run ALOT.

I want to play poker as a side job, unless i can really get on a hot spell or improve my game alot. I consider my self a solid player who wins consistentely, but not nearly enough. Poker is not my Goal in life, it works for now but well just have to see what happens after that.

[citanul]

just wanted to echo the "don't throw out education for poker just yet" sentiment.

also, there ain't nothing wrong with buying in to nl/pl tables with less than the max. i often buy in for the min. that isn't to say there's something wrong with buying in for the max, but just that it's not necessary to feel "like a man" to make good money at poker.

citanul