Copyright 2005 Full
Tilt Poker
August 22, 2005
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Lessons)
Poker Lesson: Holding
On To Your Winnings
Author: Aaron "GambleAB"
Bartley
One of the most important poker
lessons has nothing to do with how to play Aces in late position
or how to adjust for the maniac in seat three. It's how to manage
your money in a way that will make it grow as quickly as possible
with minimal risk.
Some of the most highly skilled players in the game
have gone broke (repeatedly) simply because they played too high,
too fast, too often. How can we make sure this problem never happens
to us? It isn't a matter of smarts, but rather, one of discipline.
The most important step is to be honest with yourself.
You should know your relative skill level at all times. Suppose
you're a $1/$2 No-Limit Hold
'em player who's had a great night, and you're toying with
taking a shot at the $5/$10 game. Your bankroll is up to $1,500,
but you would need to bring at least $500 to the table in order
to play comfortably at the higher level.
Why would you risk putting a third of your bankroll
on the table to play in the $5/$10 game? For starters, your bankroll
isn't big enough for the stake; more importantly, you also need
to consider that the skill level of the $5/$10 players is greater
than the competition you're used to. (That's not always true,
of course. There are some very skilled $1/$2 players and some
weak $5/$10 players, but it's not unreasonable to assume that
the higher-level games are filled with better players.)
This is where self-control comes in. One slip-up
can spell disaster for a bankroll, and watching six months of
hard work disappear in six hours of foolish play is enough to
crush anyone's spirits.
The safest course of action is to continue doing
what you're doing. You're beating the $1/$2 game for a tidy profit
every week - stay right where you are. Continue proving that you
can beat the game. While you're doing that, your bankroll should
grow accordingly. Beating a game for six days is proof of very
little. Beating the same game for six months is better evidence
that you are a winning player.
Start tracking your results. You can buy tracking
software or easily create a database of your own. Put in all of
your information after each time you play - limits, time at the
tables, profits/losses. Go over your information every few weeks,
both for your recent play and for your entire poker lifetime.
Try to spot bad trends before they get out of hand. If you've
been playing well at a certain level over a long period of time,
only then should you consider moving up to the next highest level.
Above all, know where your money is at all times
and how it is being used. Ask yourself, "Is this too much
risk for me considering my current bankroll?" If the answer
is yes, do the responsible thing and change tables. Months later,
you'll be thankful you did.
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