Cashing out.

Did a quick search and didn't find a topic related to this, so I figured i would ask. I've just doubled my original deposit and I'm wondering at what point should I think about cashing out?

In his book Killer Poker: Online, John Vorhaus recomends using the "double-half rule"; which basicly states anytime you double your bankroll, you take out half your profits. So I've just turned my original $200 into $400 and using that rule, I should take out $100. However, $100 isn't going to do much for me right now in the real world, and building my bankfoll is one of my major goals right now. Thus, should I wait? Am I being to impatient?

Any advice would be greatly appreciated. Thanks. :wink:

If you don't really need it i'd leave it in, build it up and move up limits. The players up to about $100 are pretty similar and the more you have in the more you can win! Also it gives me a nice warm feeling inside and makes me play better if the first thing I see on logging into a sight is a healthy BR.

The answer is based on what you want to accomplish and your emotional connection to the money. There are two extremes - and I've seen them both.

1. Wow I made some money let me take it off right now "before I lose it" - Fear related Cashout.
2. The bigger my bankroll the better player I am and the more buffer I have so I will essentially Never Cashout. There are people with thousands online who have never taken a cent off. - Fear related NON-Cashout.

I read Killer Poker Online - or most of it. I'll read the rest today. I can't say I'm a big fan, but my mentality is different than his.

Here's my recommendation and/or questions:
1. Are you sufficiently bankrolled for the stakes you are playing? (See bankroll management) Most new players are woefully underfunded. If you aren't then leave the money on as a realistic buffer against loss.
2. Is the amount of money you have online (whether out of your "pocket" or in "free" winnings or both) something that you are uncomfortable with "gambling" with? Some people can lose $200 no worries but if they have $2000 online they might play scared because it's an emotional problem. Act accordingly.
3. Do you want to increase in stakes? If so then you need more money.
4. Do you like looking at it online. Does it make you feel good, motivate you, and help you play your best poker. (This is often the case where more makes you feel more confident and play better.)

You need to do a quick review of your logical, emotional and Poker requirements and make the best decision for you. Here's what could happen:

1. You leave it on, lose it all and feel like crap.
2. You leave it on and it propels you to greater glory.
3. You take it off, spend it, and feel good. Your remaining money online is enough.
4. You take it off, spend it, lose the remaining money you have online and can't afford to put more on, so now you can't do something you love. (play poker)

I think that covers the most likely scenarios. There is one where you leave it online and just sit idle for ever - but that's unlikely.

Don't follow any arbitrary rule. Do what you think will help your poker and your life in the best way possible. I would say Vorhaus' recommendation isn't bad. It builds your BR and gives you some emotional payback.

Here's another option, take $50-$100 off and spend it on your family or wife. Because they are putting up with you spending all your time staring at the computer and insisting that you have to concentrate. What's their payoff? This may be it.

Good luck and nice job. I'm going to re-read (and finish) Vorhaus book and see where I can get some value out of it.

And then there's the curse of the withdraw. Some have said that if you withdraw you will go card dead and go into a dry spell.

Of course this is a myth. :wink:

The DOOM SWITCH!!!111

Thanks peeps! :D

I was pretty much set on leaving it in unless I got some serious objections. My chief priority with poker right now is to build it into a profitable side business, which I know takes allot of work and effort, but it also takes money. At this point, I'm not playing scared or over confident. I'm just playing confident. I've been profitable every week since I started a couple of month ago and things are moving along nicely.

Oh, and aokrongly, Vorhaus has allot of stuff in his book that I disagree with, but I rather liked his advice on keeping book, mood, mind, and data managment. He also gives a basic explination of how to spot online cheating, which I had never had explained to me before. Decent book, but not a bible.

Is the "Cash out Curse" really a myth??? I withdrew $200 from PS the other day to drop onto a new site, my cards b4 that were running hot, and thats why I was able to cash out. As soon as I withdrew my cards turned ice cold. They kept up like that until 3 days later when I withdrew the $200 from the other site and put it back on PS. This again turned my cards hot........ this has happened b4 as well, so I dont know what to make of it.:(

i depsoited 20 on stars then hit the final table 5 out of 7 times in the 180man sngs. ITM'ed the rest
Fo' sure its rigged
:)

Correction - Vorhous Killer Poker is a good book. Alot of good psychological and emotional aspects to consider when playing online. He covers them well. It's another "killer poker" book I'm thinking about.