Quote:
Originally Posted by Miami33305
Lately I've been playing 8-12 hrs but i noticed that variance and a very aggro style of play had me punting buy-in after buy-in. Now what helps me be profitable in the game is when i set a specific amount of money i want to obtain and when i have 3-4 times my buy in and have played at least 3-6 hrs a day i can cash out and work on building my BR day by day slowly but surely. I want to quote Doug Polk "there is always going to be game & you can always grind tomorrow". It's better for my play and career that i set small stepping stones instead of trying to jump from one end of the spectrum to the other. My BR is pretty short but i can invest 50% and which would be like two buy- ins in a 1/2 NL game. GL to all at the tables - Ultimate Grinder Signing out
If you play at your best and the game is a good game, I guess you'll be fine and OK. I cannot see anything wrong in having goals to specific amount of money as long as the game stays good. But you got to pay attention to the days when you lose and keep playing just to get even. Now, if the game is still good obviously you stay but what about if the game has changed and you're blinded by the fact you got in the hole? How you handle that?
What I suspect it's going on in your mind id this:
You’re asking a very important question. People get confused between two concepts (Money Management and Bankroll Management). What you’re doing is money management.
Money management in most people’s minds means quitting simply because of how you are doing that day, or continuing to play simply because of how you are doing that day. In other words, you are in a game and you have won or lost x number of bets so you quit, only to come back tomorrow. Well, that is a silly concept because it is all one game. If you are a serious poker player, you are playing by the week, by the month, not by the day. And if you for instance are in a very good game, you don’t quit simply because of how you are doing. You quit because the game has gotten worse, you quit because you are tired. These are all proper reasons but not because I am going badly, I’m getting bad cards that day, because I’ve lost a certain amount, or because I’ve won a certain amount. This is simply incorrect. This is not my opinion, this is simply incorrect.
If you will play in a game where you have the advantage, the more you play, the more you will eventually win. If you play in a game where you have the disadvantage, the more you play the more you will eventually lose. There’s no way of getting around that. If there was such a thing as getting around having an advantage simply by money management, you could go to the crap table and win by money management. In other words by quitting at the right time but you cannot do that. Money management is a completely spurious idea as far as when you quit or when you don’t quit. The only thing that matters when you are gambling is to gamble when the odds are in your favor, when you are the best player, when you figure to win. And when you are in that situation play as long as you can. When you are not in that situation quit at the first opportunity.
That’s really all there is to say. Bankroll management as far as having enough money and number of units/chips – that’s different. But money management – no.