Poker Bankroll Management Part 2: Moving Up In Limits
Wednesday, September 13, 2006
Moving Up
Many times I hear newer players complain that the players at their current level play too crazy or too loose. They then try to use this fact to justify a move to a higher limit. This is incorrect. Regardless of how your opponents are playing there is a wrong way to play and a right way to play. If you have not yet learned how to deal with different types of play at your current level you are not ready to move up.
Now that we have that out of the way here are some things you should be taking into consideration.
Bankroll Size
This of course is the most important of all these. You need to be sure that your bankroll is sufficient to withstand a few losing sessions at the next level. In some cases the transition is simple and has little effect on your bankroll. In other cases you may find the transition much more difficult. You need to be sure that your bankroll is an adequate size so you can play comfortably and not be as effected by short term variance. Scared money is lost money more times than not.
Players
I have always found it useful to observe the players at any level. Pay attention to how they play and try to get an accurate picture of the difference of skill level. Keep in mind that you will most likely not be the best player at the next higher limit however there should be players that are not as good as you. This is where your money will come from. Take advantage of the weaker players and learn all you can from the better ones.
Comfort Level
You need to be honest with yourself in regards to how comfortable you are at the current level. If you are a break even player at this level you will most likely be losing money at the next level.
Moving Down
Moving down is usually harder to convince yourself of than moving up. Good players know when it's time to retreat a little bit and regroup. The above points should be a good indicator. If your bankroll has recently taken some serious hits it may be time to take a step down to a lower limit to re-evaluate your game and how you are doing.
If you are finding that you are consistently the worst player at the table it's time to set your ego aside and be honest with yourself. There is no shame in saving money. Poker is a learning game. No mater how much you know there will always be people who know more. It is better to face the facts than to lose your entire bank roll by being in over your head. Know your limits and know when it may be time to step down and get your game back under control.
Resist the Urge
Resist the urge to sit down at a much higher limit with your entire bankroll expecting to catch a double up. You may very well double your bank roll. You might also loose every cent of it and have to start from scratch. This is far too similar to gambling. Imagine all of your hard work wiped out in one session.
Here are some other bankroll articles that may be of interest:
Part 1: Bankroll Size - Part 2: Moving Up - Part 3: Coming Soon
posted by JD52 @ 10:48 PM,
