This article focuses on how to play texas hold’em, specifically bankroll management.
I am asked by my students all the time “When can I move up in stakes, I want to make big money!”
That quote above is what will leave a poker player broke. BAD streaks happen all the time, and unless you get lucky when you are playing above your bankroll, you will LOSE, I promise you.
I recommend that you NEVER risk more then 1-2% of your bankroll on any given tournament or cash game.
Meaning, if you have $3000 dollars as your poker bankroll that means you NEVER should risk more then $60 dollars in one tournament or cash game.
Bankroll Management is VERY imporant in this game, if you cannot manage your money then this game is not for you.
When I first started playing hold’em tournaments I would deposit $100 bucks and wait until 2am every night to play the $69+6. Let’s look at just how DUMB this was. There would be approximately 300 players and the top 27 players would be paid out. That means I was putting ALL my money at a 10% chance of winning ANYTHING back. Guess what happened 70-80% of the time I’d go to bed BROKE and MAD.
Poker is a game where you can go on streaks for days, weeks, sometimes even months.
If you stay persistent and follow the advice of a coach or a guide you can WIN in the long run.
You cannot be discouraged when you hit a loss, it is a part of the game.
Remember, we are playing a GAME, keep that in perspective.
Until next time, good luck at the tables!