Guide poker
Money Management
Many skilled poker players go broke for one reason - they don't know how to handle their money. if you're not able to keep you bankroll in order it doesn't matter how good you are, you will lose anyway. the most important thing is to have the discipline to treat your poker winnings as operating capital and not spend them in other ways. when you've made a good profit at one limit you have two choices - move on to a higher level or pocket the winnings.
There are many other things to think about when it comes to money management:
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Don't play in games where the limits are to high and where you risk going broke. a good thumb rule in limit games is to have a bankroll that is 300 times the big bet. for example, if you're playing in a $10-$20 game your bankroll should be $6000. if you're in a bad period and your bank roll drops below the critical point you should step down to a lower limit.
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The game you play in is actually more important than how you're doing. sometimes you will get lucky in a bad game and win some money. in these cases you have to be disciplined and quit even though you're doing well at the moment. on the other hand, if you're losing in a good game, you should keep playing. the patience to wait for the luck to turn is crucial if you want to be a winner in the long run.
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Beware of the signs that you might be going on tilt. if the emotional state you're in is affecting your game you should stop playing immediately. never try to win lost money back by changing your game and taking bigger risks, that's a sure way to lose even more. a general rule is only to play when you feel like playing and when you're emotionally balanced.
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Keep track of your earning rate. a good profit is to make about one big bet per hour. for example, if you're playing in a $10-$20 game, $20 an hour is a good profit.
The advice given above is meant for people whom are trying to make a living playing poker. if you're only a hobby player all you have to think about is not risking more money than you can afford. you also have to be prepared to lose your money
