Bankroll question: is this a bad idea or a good idea?

coffeecrazy1 · #1 07-02-2005, 11:54 AM

I want to preface this question by saying that I know that if it works for me, then it's fine...but I still want to ask if this is a way of positive thinking, or just a method of denial.

In keeping up with my bankroll, I used to think only in terms of debits or credits. I would think...well...I'm up 300 from yesterday, but down 200 today, so that makes me, etc. What I found is that my play would suffer on down days because I was constantly thinking about getting back to even.

So, now, what I'm trying to do is not think in terms of down or up, but just about where my bankroll is...regardless of historically where it was. It seems to be a more positive way of thinking about it...rather than saying, "Well...I did have 1 million dollars(I wish), but now I have 1 thousand...", I'm thinking, "Hey, I've got a thousand dollars."

Is this smart, dangerous, or just a "whatever floats your boat" type mindset?

smartalecc5 · #2 07-02-2005, 04:37 PM

Sounds peachy keen.

To be honest with you, I try not to keep an exact count on my roll because I feel I amyt become superstitious. I beleive that the money will take care of itself as long as I keep making the correct decisions on the poker table. Read inside the poker mind and it talks about bankreoll management and how to deal with losing days.

poker-penguin · #3 07-02-2005, 06:09 PM

This is what I try to do. Unfortunately, I remember that the total number was $3000 last week and is now $1958. I don't remember that in January it was $300 and I've cashed out plenty over that time too.

mosquito · #4 07-02-2005, 07:04 PM

Actually, I think I've got $1,000,000 but in
reality only have $12.73 so the fantasy works well.....

vexvelour · #5 07-02-2005, 07:15 PM

As stupid as it sounds, I like fuzzy math when it comes to this. I know what I cannot exceed in the back of my mind, and I keep myself controlled. Other than that, I play freely and consider each day's game seperate. I suppose if you think of it in overall terms you've got a great idea there.

KidPokerX · #6 07-02-2005, 08:03 PM

dangerous

SheetWise · #7 07-02-2005, 10:42 PM

Dangerous. Keep VERY detailed records of every session, buy-in, cash out -- Never mix expense money with bankroll. You should know your winnings or losses YTD to the dollar. With that said -- DON'T SHOW YOUR BOOKS TO THE IRS.

When I played 21 for a living, both alone and with a team, the books were detailed to the penny. I could tell you on any day for the previous year where I played, how long, what stakes, and what the outcome was. I never worried when the bank was down 20-30K after a couple hundred hours of play, because it always came back -- I knew there were fluctuations, AND I KNEW WHAT MY EXPECTATION WAS, AND WAS GOING TO BE.

In Poker, only my records can tell me what my win rate WAS, and I can only GUESS what my expectation is going to be. The point is that you may be off -- your game may have changed -- you're playing new stakes, whatever. Without detailed records, how would you know. Poker win rates, or expectation, can never be calculated for the future --- all you have is historical data to determine what your win rate WAS.

SheetWise

fnord_too · #8 07-05-2005, 01:06 PM

Mike Caro once wrote "You start every hand even." That is a good philosophy while at the table. I would caution against using it at all times away from the table since you may ignore important things like the game you have chosen being too tough for you to beat, or may be it is beatable but not for as much as another game within you bankroll. For the day to day table time, I think it is great to think of every hand as purely independant if you can. It is very difficult to maintain that attitude when stuck, but if you can it reduces the chances of going on tilt.