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spoonitnow
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12-31-2007, 01:56 PM
Post subject: Bankroll Considerations with Example Pictures and Stuff
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#1 (permalink)
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Straight Flush
Join Date: Sep 2005
Location: IRC Chat Room
Posts: 5,406
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This was going to be part of my 1000th post but I figured it would be a better post by itself.
I feel like the single most destructive thing a player can do to his potential in poker is to not follow good bankroll guidelines. First and foremost, poker is gambling, and like it or not, there is a chance that you're dealt AA for 1,000 hands in a row and lose every single time. Sometimes we make more money than we're supposed to, and sometimes we make less money than we're supposed to. We tend to call this fluctuation variance. This fluctuation will even out in the long run as long as we don't allow it to pull us to being busto. I've put together a couple of pictures to illustrate what I mean for those visual learners out there. Assume the x-axis is the number of hands, and the y-axis is your bankroll.
 
In the first picture we see how a smaller fluctuation in bankroll allows us to steadily grow over time. This is what good bankroll management allows for. In the second picture, we see how a larger fluctuation can cause us to go busto, even if we are beating the game we're playing in. Note that the hands after where the blue arrow is wouldn't even be played because we would be broke at that point.
So how do we control this fluctuation? The key thing for you to realize is that you can't stop the fluctuation and you can't control it. The only weapon you have against variance is a deep enough bankroll that keeps the fluctuations from busting you. This single fact is the reason why bankroll management is so important -- without it you will go bust eventually, like it or not. You really don't have a choice in the matter.
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Quote:
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Originally Posted by Ripptyde
I only have 2 simple rules when I am coaching a new student.
Rule # 1: don't ask questions
Rule # 2: don't ask questions
I have no interest in discussing strategy with a protege'. Your job is to remain quiet and listen. I have a very systematic approach that I will share with the right candidate and I promise that I will turn you into a force of nature and show you elements of the game of poker that you never knew existed.
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jyms
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Tilting Mod
Join Date: Feb 2006
Posts: 4,836
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This is exactly right, now if you just add random larger and smaller bumps and some long multi buy in dropping tilt sessions, you will see every small stakes beginners graph for sure.
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Warpe
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Moderator
Join Date: Sep 2005
Location: Canuckistan
Posts: 3,905
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Those graphs are actually the simplest and best explanation evah. Be on my Pictionary team?
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Robb
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4-of-a-Kind
Join Date: Aug 2007
Posts: 3,072
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The reason I post so much on these br discussions is because graph 2 was me before October '07. Graph 1 is me now 
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badgers
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4-of-a-Kind
Join Date: Feb 2007
Location: Spewing
Posts: 3,372
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Quote:
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Originally Posted by Warpe
Those graphs are actually the simplest and best explanation evah. Be on my Pictionary team?
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Lolol!
Great stuff spoon.
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3k post - Return of the blog!
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Jack Sawyer
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4-of-a-Kind
Join Date: Jan 2007
Location: Old School
Posts: 2,535
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Quote:
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Originally Posted by badgers
Quote:
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Originally Posted by Warpe
Those graphs are actually the simplest and best explanation evah. Be on my Pictionary team?
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Lolol!
Great stuff spoon. |
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My dream... is to fly... over the rainbow... so high...
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Hey, I'm in a movie!
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spoonitnow
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Straight Flush
Join Date: Sep 2005
Location: IRC Chat Room
Posts: 5,406
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For what it's worth, the graphs are variations of x + sin x, but most of you could guess that. And obviously they're just models for understanding the concepts.
Thanks guys.
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Quote:
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Originally Posted by Ripptyde
I only have 2 simple rules when I am coaching a new student.
Rule # 1: don't ask questions
Rule # 2: don't ask questions
I have no interest in discussing strategy with a protege'. Your job is to remain quiet and listen. I have a very systematic approach that I will share with the right candidate and I promise that I will turn you into a force of nature and show you elements of the game of poker that you never knew existed.
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