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Exclusive Netbettor Texas Hold'em Article: "Every poker player I have ever met, with one exception, has been a self-proclaimed winning poker player".
Records and Bankrolls Let's talk about things other than playing an AJ offsuit under the gun. In my opinion, one of the best tools a poker player has in his/her arsenal is a system to accurately track wins and losses. And this can become complicated if you play in live action and tournaments. Also, remember that bonus money should NOT contribute to you win/loss rate. Every poker player I have ever met, with one exception, has been a self-proclaimed winning poker player. The one exception is a gentleman known to many Denverites as Marky D. And Marky D flat out said, "I've lost more money than God playing poker, and I don't care because I love to gamble." So, how is it that all of these players, except one are winning players? Well, they're not winning players. Our minds use certain defense mechanisms to distort the truth to ourselves. I've studied these defense mechanisms, and three come to mind that many poker players suffer from; compensation, rationalization and denial of reality. Without going into detail about each one, let me say only that all three are closely related, and denial of reality is most fitting for most every "winning" player I have met. As gamblers, we will go through spurts of wins and losses. Our pockets will be lined with hundreds one week and just enough for a box of ramen the next. It is the latter week that most gamblers forget about. As a winning player, there is only one litmus test that can prove your success, and that test is accurate records, and when I say accurate, I mean exactly that, ACCURATE! Believe me, I've played horribly in a session and very much wanted NOT to put that session in my records using the justification that I know I played horrible, so it doesn't count. But the truth is, logging each session is the only way I have to plug those leaks in my game. When playing online, I keep track of win/loss, total hands played for the session and total hours played. With this information, I can see how many hands per hour I play, how much I'm winning per hour overall and how much I'm winning TOTAL per hand. The total per hand (including mucked hands) is in the $.15 to $.20 per hand in the 3/6 on Party Poker. Also total hands and total hours are kept track of. I also graph my wins and losses, like a stock chart that hopefully rises up like a profile of Mt. Everest . And my goal is to not allow it to look like Death Valley . The graph gives me a picture of how I am doing for all total sessions. And when the bad streak hits, I'll have an idea of how bad it might be, or at least I'll know that it's my time for a bad streak. Keep great (not just good) records! "if you don't keep accurate records, you're in peril of falling into the trap whereby you 'brush off' your losing sessions"
Finally let's have a brief discussion on bankroll. Some top pros use a standard deviation formula to figure out a bankroll, although this number always seems to hit in the 300 to 350 big bet area-maybe a little more, or little less, depending on how many small edges you try and exploit. Instead of fumbling with a tricky equation, I simply use 300 big bets. And I have yet to bottom out. So as a winning player, let's assume we are playing 3/6 on Party Poker. We start with $1500 to $1800, play until our accounts hit $2000 to $2300, then cash out $500 and start all over again. This is the strategy that I use, and if you're uncomfortable leaving that amount in your account, it is certainly easy to add funds these days. These two areas are very important in your play as a winning player. A bankroll allows a cushion when the cards don't fall your way, and record keeping lets you see in black and white how you are progressing as a winning player. If you don't keep accurate records, you're in peril of falling into the trap whereby you 'brush off' your losing sessions as those in which you just weren't playing your best. If you're just a recreational player this probably doesn't matter much. If, however, you're like me, and you count on your poker winnings to supplement your income, you really need to know just how much you're 'worth' in any particular game. Remember-hitting rock bottom doesn't mean you're just one of the dreaded fish that stock on the online poker pond, because bad streaks-and long ones at that-can and WILL happen to everyone. But not keeping good records, and maintaining an insufficient bankroll, are usually two signs that you're not really committed to winning. Return to Exclusive Netbettor Poker Articles Other Poker Strategy Articles: |
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