Copyright 2007 Full
Tilt Poker
April 27th, 2007
(View all Online
Poker Lessons)
Poker Lesson: Ferguson Goes From
Zero to Hero
Author: Chris Ferguson
I'm almost a year into an experiment on Full
Tilt Poker. I'm attempting to turn $0 into a $10,000 bankroll.
With no money to start with, I had no choice but to start out
playing Freerolls.
Starting out, I'd often manage to win a dollar or two, but I'd
quickly get busted and have to start over again. It took some
time but, after awhile, I was eventually able to graduate to games
that required an actual buy-in.
Even today, people don't believe it's really me
when I sit down at Full Tilt's small stakes games. They ask what
I'm doing down here, and often tell me stories about how they
turned $5 into $500 or $100 into $1,000. Usually, these stories
end with the person telling me that they went broke. There's no
surprise there. These folks tried to quickly build a bankroll
by gambling. They'd play in a game that was beyond their bankroll
and, if they happened to win, they'd move up to a higher limit
and risk it all one more time. Inevitably, they'd lose a few big
hands and go broke.
For me, this experiment isn't about the money. It's
about showing how, with proper bankroll management, you can start
from nothing and move up to the point where you're playing in
some pretty big games. I know it's possible because I did it once
before, turning $1 into $20,000.
To ensure that I keep my bankroll intact, I've adopted
some key rules:
•I'll never buy into a cash game or a Sit
& Go with more than 5 percent of my total bankroll (there
is an exception for the lowest limits: I'm allowed to buy into
any game with a buy-in of $2.50 or less).
•I won't buy into a multi-table tournament for more than
2 percent of my total bankroll and I'm allowed to buy into any
multi-table tournament that costs $1.
•If at any time during a No-Limit
or Pot-Limit
cash-game session the money on the table represents more than
10 percent of my total bankroll, I must leave the game when the
blinds reach me.
I think a lot of players would do well to apply
these rules. One great benefit from this approach to bankroll
management is that it ensures you'll be playing in games you can
afford. You'll never play for very long in a game that's over
your head because, when you're losing, you'll have no choice but
to drop down to a smaller game. You can continue to sharpen your
game at that lower limit until your bankroll allows you to move
up and take another shot. These rules also prevent you from being
completely decimated by a bad run of cards.
Dropping down and playing lower limits is difficult
for a lot of players. They view it as a failure and their egos
get in the way. Many want to remain at the level they'd been playing
and win back their losses. But this can lead to some pretty severe
tilt - and that can go through a bankroll in a hurry. I know that
dropping down was difficult for me in my run from $1 to $20,000.
When I first played in the $25/$50 game, I lost. Sticking to my
rules, I dropped down to the $10/$25 game. I had a losing streak
there and had to go down to $5/$10. That was tough. After playing
$25/$50, a $5/$10 game was boring to me.
But I had the discipline to stick to my rules, and
that motivated me to play better at the lower levels. I really
didn't want to lose any more because I knew the consequences:
I'd have to play even lower and work even harder to get back to
where I'd been, which could take as long as a month. If you ever
find yourself bored or frustrated playing at the lower limits,
you're obviously not playing well. Take a break from the game.
Often, stepping away can give you a fresh perspective and heightened
motivation to play well when you return.
There are a couple of more tips
I'd like to share regarding bankroll management. First, you should
never play in a game that is beyond your bankroll simply because
the game seems to be soft that day. It's never soft enough to
risk money that puts your bankroll in jeopardy. The other point
is that you should avoid playing in games that are at the top
of your bankroll limits, when a lower game offers more opportunity
for profit.
I'm confident that by sticking to these sound bankroll
management rules, I'll make it to my $10,000 goal. These rules
are sure to help you as well, as you pursue your own poker
ambitions. So, if you want to start your own quest - or play against
me while I'm continuing with mine - come open a free account at
Full
Tilt Poker and look for me online. But hurry, because I'm
hoping I won't be in the lower limits for too much longer.
Full
Tilt Poker Referral Code
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