WiredDragon's Bankroll Management Challenge

No way... limit your losses, don't limit your winnings.

"A gambler who puts a limit on his winnings will never have the joy of counting chips in different colored denomonations"

Attempt to put a limit on losing a percentage of your winnings (ie if you turn your $5 into $10, leave if you fall back to $8.50) but if you get in the habit of leaving everytime you win $5 you'll never catch that monster rush that finds your $5 buyin sitting at $50 or more.

One of the funnest times I have ever had playing poker (aside from the high turnout MTT wins) was sitting at a .05/.10 table with $10 at Cake and leaving the game with just over $200.

I do not disagree with your argument Fink. The fact is the more money I have in my stack the more chance there is of loosing my winning. This double up and leave technique is actually not a technique I recommend doing at a Live Poker Table. But online, I still stand by this double your money technique and then leave the table. If I want to make $50 on the table and then leave I have to wait untill my bankroll is about $1200. When my Bankroll is $1200, I will buy in for $50 on 0.50/$1 stake Texas Holdem 10 seater Ring Table. So when my stack is $100 or more I will instantly leave the table, make $50 in probably an hour or so, and then buy in for $50 on a new 10 seater 0.50/$1 stake ring table straight away.

This is the rule Chris Ferguson followed with his Bankroll Management Challange when he turned $1 into over $20 000. So, this is the rule I am following by also.

Still I don't disagree with you on your point, there may be a time when you want to just keep playing, so do that, thats fine, as long as your aware of the risk. Unfortunately I can not do that at this time, I must follow the Bankroll Management Rules I have set out to the letter. Consistantly, Patiently playing my game his method to see how much money I can make and what period of time doing this. My goal is $200 so far so when I reach that you will then get a basic summary of my progress and my new goal. I can tell you already that when I reach $200 I still want to continue the Bankroll Management Challenge and step up to 0.10/0.25 stake NLTH Ring Tables buying in for $12.50 on the table each time.

Simple fact is whatever your doing playing poker and having fun in the process, thats ok too.

I'd agree with both you you on here. Sometimes if the table is running consistantly well and suiting your game then stick at it as long as possible. However if you've just doubled up after 1-2 hours of play through a single hand, and they only worthwhile one you've had throughout the session, then leaving the table isn't such as bad idea.

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3rd Pitbull league June 2007
2nd Pitbull league July 2007

Ok, I just tryied out 2 things with my Titan Account. I was playing a live tournament one day and pretty much everyone were donkeys. They will call you down with anything. So I developed a new strategy and it was All In or Fold preflop with the best hand you can get, 100% of the time. And you know what it works, you got AK suited and they will call you down with KQ offsuit.

So I thought, is doing this on the lowest limits lucrative at that level?

So on my Titan accout I had 12 windows running going all in or fold on pretty much any pockets and other certain premium cards. In 1 hour I made $8. Wow this is interesting. 12 windows doing this was actually not that bad, so next time I'l go for 20.

so I did it again for 1 hour and the max on Titan is actually 16 so I ended up only making $1.

Pfft, huh? why is this, more windows, MAX windows even and I only make a dollar?

My brother tells me that the first time I did it it was during the fish hour. Basically there are more fishes less sharks during our day time, morning. More sharks, less fishes during our time. Which makes sense because the worlds popluation is more on the other side of the world, and obviously there are more people playing at night relaxing or whatever, and the pros seem do play like a job during the day it seems. In general.

Because of this fact that Titan only allows max of 16 windows, I'm going to try it on my Poker Stars account, during the day. I will film it and post it so people can see the result. Should be interesting, do I go bust? or do I make Profit?

I'm pretty much 100% sure I'm going to make 80% wins most of the time like on Titan account so I'm pretty safe. And this can be an easy way to get my account up to bankroll management ammount I can actually do something with.

So, wish me luck.

ps, I don't recommend anyone doing this, its really a cheap unskillfull way out, but hey, I want to play on the limits that can do me good, if this is the best technique to win money off donkeys at the moment I'm going to do it.

Interesting idea. I for one am keen on your seeing your results with this system. BTW what level where you buying in at at what did you sit down with on each table.

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3rd Pitbull league June 2007
2nd Pitbull league July 2007

oh man I'm stupid, sorry, 0.01/0.02 Ring Table Texas Holdem buying in for 50x Buyin which is $1.

ok, I tried on my Poker Stars Account. I couldn't believe what was going on, it was amazing. Obviously there is a strategy behind playing so many tables that I don't have just yet. My brother says its basically, you can play 1 table good, you can play many good, difference is how long it takes for you to make the right decision. Winning money is not about winning pots, its about making the right decision most of, or close to, all of the time.

So, what happened?

For 1 hour I was using CamStudio to record my actions on the computer and a video camera to record my reactions. For my first attempt trying to do as many windows as I could, I decided that I would try and make a nice video out of it. I have experience making movies with Adobe Photoshop, I used to surf a lot before I got into Poker, so me and my friends would film and make a DVD out of it.

However I was primarily doing this as insurance. Apparently Rain Khan can do 43 windows (Sit&Goes) at the same time. His account was frozen and Poker Stars basically told him you can't do that. Its not humanly possible to do more than 24 windows. You are a bot. So he said, if I show video proof of me doing more than 24 windows will you give me my account back, and they said yeah ok. Well thats what Khan did and he has a Utube on it if anyone wants to check it out and see it. YouTube - Broadcast Yourself.

Well I started out at 9 windows doing this All In or Fold Preflop with Premium cards idea during the fish hour. Interesting enough I was getting fold equity on Poker Stars. Only got 1 caller doing this holding 88 and they called me with AK suited. I won but thats not the point, the point is it didn't work and I clearly need to give up or change my strategy.

Did I give up? No way, I never do, like any good poker player they will continue to achieve what they set out to do.

So I start playing hands out, In stead of shoving AA I'l raise, lets play 9 windows. And I was doing very well. Protocol was double up, leave table. Buyin again, open up 2 more windows.

Considering I only had $11 on my Stars account, shooting the Whole Bankroll on every table buying in for just a $1, I was doing quite well since I ended up having 19 1cent 2cent tables going.

This went on for a while and then things started happening. Getting a few suck outs, making human errors, folding KK preflop. Things like that were happening, I was very tired too. And I close them all down slowly and I end up with $9 on my Stars Account.

$11 -> $9 neg ev - However it was an experiment, and I did at least learn one thing. You really want to know if you have fold equity or not, just shove all in preflop and see what they do.

I must have got pretty lucky when I was MTT on Titan the first time.

And you know what else, after that I wanted to watch the video and the other recording, and both of them were screwed. I don't know what is wrong with my video camrea but it just wont rewind now???? I'm sure if I take the tape out and put it in another camera it should work. And that file I was recording for insurance was like a 2.5 gig AVI file in the end and I think I was running out of space on the laptop. So again that doesn't work cause it said no frigin rendering filter thingy and far out if someone out there can help me with this so I can watch my first attempt that would be so awsome. I'm never deleting this file, I'l send it to anyone who wants it to fix it. I don't know what to do with it.

Anyway I did it again with just 10 just now and I have a nice 30min recording this time, its 1 gig in size.

So yeah, looks like I need to figure out how to make the right decision in less than a second, for every window, and at the right time when it appears. What does this mean? You need a very good memory.

I think I'm going to start playing a lot of 7 Card Stud, this game focuses on your memory skills like Chess, and if I can get good at 7 Card Stud I think I can get good at MTT. I won't be playing 7 Card Stud Hi Low.

I would like to report that I have finnally hit my goal on PKR with my bankroll on a nice juciy $120 after getting my $50 bounus. I can now leave and try something else like building my roll on stars playing 7 Card Stud. However I'm hooked to PKR and I'm now aiming to get 3 Million PKR points to purchase a Casino Quality 10 Seater Poker Table. Apparently there are people making750 thousand a month.

After the bonus I can now step up to 10cent Ring Tables buying in for $5. I would also like to add this:

PKR is simulating real life which in my opinion is good traning for live deepstack tournaments like the ones I'm playing in now. The last one I played in was a 2 Day event to win a satellite seat into the NZ Championship. Alas I lost because I made 1 gamble in the whole game after playing for 12 hours. At least I made it to the Final Table 3rd chipleader thats nice work.

My point is even though PKR is online its still simulating real life and in real life at the Casino I don't just leave after doubling up. So I will not be doing that on PKR anymore its just not +EV. On Stars or other online poker programs I will because you see way more hands than on PKR. In fact I even had a 3 hour cold deck on PKR at one point, good thing I was reading a poker book at the same time that will stop me from getting tempted to play a the wrong hand in the wrong position. I finished reading Antonio Esfandiari's book, that seems to be my thing, read poker books while playing poker. One of my brothers watches TV in the lounge room with the laptop on Stars making a killing playing PLOHL. My other brother is also making a killing on Titan Poker while listening to Music. I can hear his subwoofa blasting through the wall.

So now I'm at the point of playing PKR but also playing Stars to build both rolls.

Regards
Raika

The next 2 Day Event is for a Satellite into WSOP. Wish me luck....