Quote:
Originally Posted by Just a fish
I won thousands and lost thousands in the last month and learned so much at all the stakes was up over 3 grand now I have 100 bucks in my bankroll.
I know I can win but what to do now....
I work par time but am lost I'm taking a break I know that at least I have a big screen and xbox 1 to show for it....
25 and broke at least I live at my dads
Has this happened to you in the past
What do we do now it...
This is part of the problem. Money management in general, and bankroll management in particular, are very important.
It sounds like you would like to make poker your full-time job, so based on that, take a step back and think about this strategically.
Since you're starting over, you need to rebuild your bankroll. The less you spend, the faster you can build that bankroll back up. If you need to use some of your winnings, that's OK if you need food, gas for your car, or money to pay the electrice bill. Don't take money out to buy new toys.
Johnathan Little talks about poker players he knows that make a big cash and immediately buy a new car, go out for $200 dinners, pay for a group of friends to go out to the club, and before long, they're trying to borrow money to get into the next tournament. Don't be that guy.
Make sure you understand what poker as a job will and won't do for you. You won't have a company retirement plan or insurance coverage. You won't have a boss or a time clock checking if you start work on time. You have to be your own boss, and discipline yourself to put the hours in.
Also, make sure you understand the income tax implications of playing poker. If poker is your job, or a majority of your income, for tax purposes you are probably a self-employed business owner.
If you want more information on the business aspect of poker, here are two books, one by a poker playing tax accountant and the other by a millionaire high stakes cash player:
http://www.amazon.com/Treat-Your-Pok.../dp/1580423116
http://www.amazon.com/Turn-Your-Poke...poker+business