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Originally posted by: oobiedoobie
Roadtrip, most of what you said was pretty accurate, however I object to you invoking the "according to the math" phrase (re buy-in should be about 2% of your bankroll) when the math says no such thing. Money management in VP is a science in poker it is an art. In an extreme situation( a table full of very weak, very passive calling stations) a very good player has an almost gauranteed win.In that situation it would certainly warrant risking more, maybe much more, than 2% (or mrmarcus' 1/4 %) of your bankroll. That being said, for the average winning player with other sources of income that 2% sounds fine to me.
Oobie, let me clarify my "2%" statement.
I did not mean that if that 2% is lost, the player should quit the game.
If his bankroll (toolbox) has $100K, and he sits and buys $2K and gets felted, he has $98K left in his toolbox. The next buy in should be $1960, not 2K if that player "rules" are 2%. I've seen the 2% figure used and talked about for many years.
That does not make 2% right, or wrong. I think it may be high, and 1% a better option to avoid ROR. To each their own. But whatever "rules" a player has in place should be inviolate when it comes to the bankroll toolbox.
My rule is basically "Limit Poker only, 100 BB". I do not remember the last time I came close to violating it. Of course, I do, on "rare" occasions, play No Limit. Same "rules". 100 BB maximum risk. In Limit, I usually buy in for 30-40 BB max. In No Limit, I'll buy 50 BB max. And of course, am prepared to rebuy in either game if I deem it a worthwhile "investment". I will, however, usually have the equivalent of 300 BB in my pocket when I go play. And a couple ATM cards. And a blank personal check. And I have a safe deposit box at the casino where I play most of my poker, so don't need to carry too much cash with me.
And in your example, you would possibly need a crowbar to pry me from the table.
But, if I did lose several buy ins, I'd also probably pack it up for the day, and go talk to myself for hours. LOL