Re: Bankroll considerations based upon estimated edge and Kelly criterion?
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Assuming a solid understanding and implementation of SSHE approach, what kind of edge do you think you have against the average opponent SSHE was written to deal with, and are there any estimates in regards to standard deviation (in a nutshell, how large of downward fluctuations should someone expect on the way to long-term profits)?
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Most (or at least many) people here studiously track all of their results at poker using software tools like Pokertracker (designed for online poker play) or Statking (designed for casino play). These programs automatically calculate standard deviation based on your results, so empirical values for typical games are pretty well understood.
I'm not sure what you mean by "edge". If you are looking for a percentage edge on the money wagered as I think people use in blackjack, that really is not a standard way of thinking about win rates in holdem. Much more common is to simply consider expectation (win rate) in terms of dollars (or bets) won per hour for live play. For online play, bets won per 100 hands is the standard.
To give you a rough feel of fluctuations and bankroll requirements, a typical win rate for a good player in a casino game is in the ballpark of one big bet per hour (e.g., $8/hr in a 4/8 game) and a typical standard deviation is roughly ten big bets per hour (e.g., $80/hr in the same 4/8 game). If you look through the archives, there have been discussions before about risk of ruin for various bankroll sizes, grapsh posted of random walks using these and other numbers and so forth. Conventional wisdom is that a reasonable bankroll is somewhere from 300 to 500 big bets for the game you are playing.
The Kelly criterion isn't used much by most poker players. The reason is that you can't really vary the size of your wagers while keeping everything else constant. Betting more requires playing in a higher stakes game which typically will feature much tougher players and different sorts of fluctations relative to the stakes, so there are often other considerations at work than simply how much money you want to be betting that are more important to deciding what to play.
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