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Old 12-10-2005, 03:20 AM
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Default Re: Dropping Back Down

I think you've pretty much answered your own question. I remember having a situation similar to yours when I was approximately the same age. However, I was card counting and playing blackjack. I took a bank loan for $2,000 dollars (parents cosigned thinking I was buying a computer) and played $10 blackjack. I did well enough to pay the loan off and accumulate a $23,000 bankroll after a few months. Unfortunately, I moved up really fast and was playing $100 tables when I went cold then tilted. I lost $5,000 in one night and then started acting as though the sky had falled. I wanted to win that money back ASAP because my mindset was such that I had just lost $5,000! Of course, I did lose but I was still far ahead of the game.

You need to keep this in perspective. Also, the losing streak was inevitable. It appears you're likely on a rush (you didn't identify how long it took you to accumulate this bankroll, btw). Remember, all good things must come to an end. Even if you're a winning player you will have to learn to accept these set backs.

Apparently you're mature enough to know better to reflect and ask for advice. I commend you on that. My suggestion is to take a break from the game if you feel upset. Also, you might learn something about yourself by not playing for a while (like if you have addictive urges to play too much). Also, some retrospective reflection on how you got to where you are could be helpful.

If you persist in playing my advice is to drop down in limits and try to repeat your previous success. The importance of a sufficient bankroll cannot be stressed enough. I personally have 1400 big bets and I play limit holdem at .5/1 and 1/2! Another thing, I would set a stop-loss if you still lose at the lower limits. Then it might be time for a very long vacation from the game. Don't blow all the money you've accumulated! At your age you can really put that money to good use for your future (investments in mutual funds, stocks, bonds, college education, etc). Think twice about trying to maintain a professional or semi-professional poker playing routine. If you can't duplicate your success over a long period of time that's perfectly fine. Just don't lose that bankroll!

BTW, I've just turned 31 and I had several big runs in my teens and twenties. Inevitably, I lacked mental discipline and kept moving up and up in limits till 'variance' or 'tilt' seriously damaged my bankroll. Only in recent years have I become a consistent performer by staying at reasonable limits and being disciplined.

Good luck and do something constructive with that money!

JeffreyREBT "Wherein I don't promise to make you rich without trying, or even trying very hard; I do promise to say things that will make you FEEL rich."
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