Back to Reality....
MTD = -£1,237
YTD = +£25,763
Just under a week ago I had a terrible run over a few days. In total it cost me £4,300. It hurts to think about how much money this really is. When you put it into relation with every day spending it seems so surreal to think that I could lose this kind of money in just a few days. Over the past 6 months or so I really have been on cloud 9, making money way above my own expectations. But after spending a lot of my winnings (I've invested in a house so I can't lose it all like I did before), this £4.3k seems way too much for me to be losing right now in just a few days. If this few days turned into a a couple of weeks I could soon find myself with empty pockets, and I'm not prepared to let that happen. So what next?
After losing this money I wasn't quite sure what to do, in the heat of the moment everyone considers upping the stakes to win it back fast and get it off your mind. I couldn't let myself do this as I'm not prepared to go back to having no money. After what I've experienced over the last 6 months it would be hard to go back to normal. So I need to make sure I do what's right for the long-term and ensure this bad run doesn't affect me anymore than it needs to. Maybe I need to lower the stakes? But it's always so hard grinding it out in smaller stakes after experiencing it higher up. Maybe I need a break from it all? For starters I've barely played over the last 5 days or so since losing the money. I don't want to be chasing my losses, I need to try and put it to the back of my mind a bit more before playing seriously again. One thing I do know is that I definately need better money management...
Since going on my winning streak I've always said to myself that I won't let myself lose much of my money, because I know what it felt like when I lost the £8k I won before. However, losing £4.3k in just a few days, which is about a quater of the money I have I know I shouldn't be letting myself do. So I guess that tells me I need better money management. I heard recently of a system that someone adopts which I might try out. It involves every week taking out 5% of your BR, no matter what. So regardless of whether you've had a great week or an awful week, 5% is always going to make it into your pocket. Then you just have to make sure you play within your limits in relation to what the BR stands at to ensure it never all goes. Hopefully at least 5% of the BR can be made on average each week and it can slowly grow. I've never really had a Bankroll as such. I guess all the money I have in the bank I treat as my Bankroll. Do others keep day-to-day money seperate from poker money? Because I've never done this but maybe need to start to. I think I'm going to start off putting £5k into poker (a very large chunk of the the money I have to my name) and see how taking 5% out a week works out. Hopefully having this as my "Bankroll" as such should help me play in relation to what I have in there, rather than me just thinking, 'if i lose this I can just deposit more'. If I carry on that way there may well soon be nothing left to deposit.
YTD = +£25,763
Just under a week ago I had a terrible run over a few days. In total it cost me £4,300. It hurts to think about how much money this really is. When you put it into relation with every day spending it seems so surreal to think that I could lose this kind of money in just a few days. Over the past 6 months or so I really have been on cloud 9, making money way above my own expectations. But after spending a lot of my winnings (I've invested in a house so I can't lose it all like I did before), this £4.3k seems way too much for me to be losing right now in just a few days. If this few days turned into a a couple of weeks I could soon find myself with empty pockets, and I'm not prepared to let that happen. So what next?
After losing this money I wasn't quite sure what to do, in the heat of the moment everyone considers upping the stakes to win it back fast and get it off your mind. I couldn't let myself do this as I'm not prepared to go back to having no money. After what I've experienced over the last 6 months it would be hard to go back to normal. So I need to make sure I do what's right for the long-term and ensure this bad run doesn't affect me anymore than it needs to. Maybe I need to lower the stakes? But it's always so hard grinding it out in smaller stakes after experiencing it higher up. Maybe I need a break from it all? For starters I've barely played over the last 5 days or so since losing the money. I don't want to be chasing my losses, I need to try and put it to the back of my mind a bit more before playing seriously again. One thing I do know is that I definately need better money management...
Since going on my winning streak I've always said to myself that I won't let myself lose much of my money, because I know what it felt like when I lost the £8k I won before. However, losing £4.3k in just a few days, which is about a quater of the money I have I know I shouldn't be letting myself do. So I guess that tells me I need better money management. I heard recently of a system that someone adopts which I might try out. It involves every week taking out 5% of your BR, no matter what. So regardless of whether you've had a great week or an awful week, 5% is always going to make it into your pocket. Then you just have to make sure you play within your limits in relation to what the BR stands at to ensure it never all goes. Hopefully at least 5% of the BR can be made on average each week and it can slowly grow. I've never really had a Bankroll as such. I guess all the money I have in the bank I treat as my Bankroll. Do others keep day-to-day money seperate from poker money? Because I've never done this but maybe need to start to. I think I'm going to start off putting £5k into poker (a very large chunk of the the money I have to my name) and see how taking 5% out a week works out. Hopefully having this as my "Bankroll" as such should help me play in relation to what I have in there, rather than me just thinking, 'if i lose this I can just deposit more'. If I carry on that way there may well soon be nothing left to deposit.
posted by Ferrari @ 11:49 am
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