Quote:
Originally Posted by barra2088
Hi i am Nathan (Barra2088 on PS), i am recreational player from Catterick North Yorkshire England. I have just finished having coaching from Matthew Hunt(theginger45)
and though this would be a good idea to use this to help me progress my game further, ready for 2017 to do hopefully another challange or something similar to this.
I will be updating this blog weekly most probably Tuesday/Thursday with how the progress is doing and what i have been doing during the week.
As i currently have a full time job,i will be mostly playing weekends, i can play during the week but most of this time will be used for studying,
if i do play during the week it will be to play SnG's or Cash games.
I have set myself targets to hit during the year and here they are:
- By 31st March Bankroll Upto $1250
- By 30th June Bankroll Upto $2500
- By 30th September Bankroll upto $3750
- By 31st December Bankroll upto $5000
I am going to use the standard 100BI bankroll management.
Quote:
Originally Posted by barra2088
Hey again
I won The Big 7.50 today for close to $1900 1 better than yesterday, The bankroll is currently $1600, $350 above my expected target by the end of March which is good, i have taken some money out to spend on my family and treat them as they have been supportive of me throughout this challenge so far so they deserve rewarding as well.
Congrats on the big win.
Hate to be a wet blanket, but I would advise against using money from your bankroll for life roll purposes until the completion of the challenge. If you had not removed money, your roll would be about $2700. You have reduced your roll by 40%.
This drastically affects your June, September, & December goals. Mike Caro wrote a helpful article about protecting your bankroll and advises against using it for expenses, vacations, etc. A link and excerpt is below:
http://www.poker1.com/archives/28675...poker-bankroll
"2. Don’t spend your bankroll. Some people don’t need bankrolls. These players have lots of disposable money at all times and don’t separate it for poker purposes. But most serious everyday players require a bankroll. And, even if you don’t, it’s a good idea to keep one, because it helps you treat poker as a separate business and monitor your success. Most players with bankrolls underestimate how long losing streaks can be. When they’re winning, they can’t see the doom around the corner. Remember, if you start with $1,000, build your bankroll to $10,000, spend $4,000 on a vacation, then lose $6,000, you’re broke! Actually, you’re winning $5,000, but you’re on the sidelines begging for a buy-in. Don’t do that!"
Another result of your spending money from the bankroll is, it reduces your available buy-ins in the coming months. Sticking with your 100 BI bankroll management criteria, you can now only play tournies with a buy in less than $16. It could be $27.
This difference is huge and could affect your goals exponentially.
Again, congrats on your success so far and I wish you well in the future.