Need advice on moving up.....

[IlliniRyRy]

I've been playing poker online for about 2 years now and have had some success at the low limit games (nothing above 3-6). I think the biggest drawdown I've ever had in my bankroll was about 170 BB or so, but at that point in my poker career, I still had a lot to improve on, and my game has since been corrected. Just recently, I started playing 3 to 4 simulataneous games of 3-6 and built my account up to $10K in about 3 months, and now I'm contemplating on whether or not I should move up to 5-10. The reason why I'm having such trouble making a decision here is because I'm actually a very risk averse person and the drawdowns bother me very much emotionally. The last 3 months, even with all the success, have been so psychologically tormenting that I'm taking a well-needed break from poker for the next couple weeks or so and figuring out exactly what I want to do. One option I'm giving myself is to sit down and make one last thousand playing 3-6, and then move up to 5-10 with it, sort of with the expectation that I could go through a 100BB downswing early and still have that cushion. I don't have any expenses at all, and I have a lot more money saved up than the 10K I made recently, but I just have so much trouble dealing with losses sometimes that I'm not sure I'll ever feel like I have an adequate bankroll. I know there are tons of people out there that have much more of a stomach for this than I do and are more willing to take bigger losses relative to their net worth, and I was just wondering if anyone has any suggestions on whether or not I should move up, not only from a money management perspective, but also if you have info on the differences between the 3-6 and 5-10 games on Party, I'd like to hear that too. Thanks.

[jasonHoldEm]

$10k is a huge bankroll...it's large enough to play 15/30. There's nothing wrong with some "insurance," but this is pretty extreme...could this extra money be put to better use somewhere else in your life? You probably only need like $3-4000 to play 5/10.

It sounds like you are so scared of losing money you're over compensating. Are you possibly playing at a level that is too high risk for you to be comfortable? Do you play poker for enjoyment only if so I'd consider dropping down to where the swings don't bother you as much. Moving up at this point might cause you to go further in the wrong direction and start playing "scared money" (if you're not already).

Just some things to consider.

Peace,
Jason

[MaxPower]

If you are talking about the 10 handed games, the 5-10 games are much tougher. They are usually pretty tight and aggressive.

Compute your hourly rate and standard deviation and use them to figure out your required bankroll for 3/6. I think anyone who is decent should be able to play 3/6 on a 2K bankroll with close to zero chance of ruin. Use the other 8K for something else. That is my suggestion.

[joker122]

The general consensus is the stakes level and the expected swings have an inverse relationship. That is to say, the higher the limit the less severe and less frequent the swings. So, moving up might actually save your stomache some of the torment you are currently bearing at the lower limits.

I play 2/4 exclusively so I don't know the nature of the 3/6 and 5/10 games. But this is just what I've learned from browsing this forum. Also, stake levels and win rate also have an inverse relationship. Therefore, you might see more profit by moving up but you will win less BB/100 hands or hour, so you'll have to prepare your psyche for that.

Again, this is just what they tell me. Good luck.

[sthief09]

Well online, 3/6 is generally pretty loose to pretty tight, but passive, and 5/10 tighter and more aggressive, so technically there will be bigger swings. Opponents' aggression and standard deviation are directly related. If you're playing weak-tight there will be less swings but you'll lose. If you're playing tight-aggressive, your style will clash with other aggressive players and there will be more of a swing.

[russki]

[Bob T.]

The general consensus is the stakes level and the expected swings have an inverse relationship. That is to say, the higher the limit the less severe and less frequent the swings.

I don't think that this is true at all. At higher limits, you are usually dealing with a winrate that is smaller when it is expressed in Big bets, and more aggressive and tricky games, that will increase your variance. The ratio of your win rate to variance will get smaller, and the amount of variance that you have to experience to get a certain amount of earnings will get bigger. If you have trouble handling the variance at one limit, I don't think playing higher is going to be the answer.

Good luck,
play well,

Bob T.

[lil']

I stopped reading after you said something about 10k. Just do it.

If you can beat 3 $3-$6 games at once, you can beat a $5-$10 game. End of discussion. [img]/images/graemlins/cool.gif[/img]

[Nate tha' Great]

One thing that might help is one-tabling (or two-tabling) for a bit when you move up to the higher limit ... will help you to really concentrate on change in game texture, build your confidence up, and at the same time hedge a little bit against a short-term downswing.

Can a person train himself to make himself numb to the swings? I don't know, but a successful midlimit player *has* to be able to do this. You're in an excellent spot with your bankroll and skill level right now to take on that part of your poker education. The one thing I can tell you is that the higher stakes games aren't nearly as scary once you get there. Treat the money you've made so far as a psychological as well as a financial cushion.

JUST DO IT!

Recommended reading: A. Alvarez' "The Biggest Game in Town".

[Solitare]

Having sat at $3/$6 tables with you on a number of occassions, you are clearly ready for $5/$10.