Quiting while you're ahead, or bankroll management for dummies

TrueDub · 31-03-2006 03:11PM #1

Last night, after failing to qualify for the Fitz EOM game, I got home & fired up a PL Omaha cash game on Pokerstars. It was a .50/1 table, and I bought in for $30. I'm aware that people recommend buying in for more, but there you go.

I played patiently, waiting for good cards, and making some good reads on people.

Twice, I had my stack up to over $90. Each time I thought about leaving the table, and sitting back down at the same or another table with (say) $40, thus banking some of my winnings.

I didn't, and finished the night with $29.50. Now 50 cents is a small amount to pay for 2.5 hours play, but I was dissatisfied with myself.

My question to the luminaries here would be: when do you duck out to bank winnings? Is there a set amount you use, or a percentage? Are you "breaking your luck" by doing this, or is it just sensible play?

All opinions welcome.

5starpool · 31-03-2006 03:20PM

Personally I always sit in with the max, as otherwise it is really just pointing out to people 'I am not prepared to lose lots of money'.

As for when to cash out, this is something I am trying to get a bit more disciplined at. As long as there are players at the table that can still pay you off when you hit, then I would tend to stay, but the circulation among the players is often so great this becomes a moot point after a while. If a game is good and lively and I feel I am playing well then I stay. If the money, or contributors leave the table, I usually leave.

There is always another game.

Skyclad · 31-03-2006 03:27PM

In theory, there should be no need to bank as long as you are at a table where the average player is weaker than you, as you want to play every possible hand and dont want to lose any opportunity to play while you have your A game on the go.

Personally however, I tend to bank whenever I double up. I do this because:
- as long as I double up more than I bust out, I maintain profitability. This probably only works at lower limits (up to .50/1) and where you have a wide range of tables to choose from without any really tough tables.
- If people see you with 3-4 buyins in your stack, it's harder to get action as you create a greater degree of respect. Having the biggest stack simply means you can take anybody out, but all you need is the same size stack as the next biggest stack to be able to cover anyone, not 3 times their buyin.

Dave

Quiting while you're ahead, or bankroll management for dummies

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