Home arrow Article arrow Managing Your Poker Money Like A Pro Tuesday, 07 September 2010 
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Managing Your Poker Money Like A Pro

Should I enter that tournament? Should I stay in this cash game for another hour? If your answers fluctuate depending on the situation – understand this: You have already lost. The only way to truly build your bankroll in the volatile world of poker is to have already made those decisions before you sit down at the table. Poker rule number one is control what you can. Because once those cards are dealt, your control decreases with each flop, turn, and river. Every successful player needs rules in place when they cash in or there won’t be a cash-out. In its place will be a sad wave good-bye to the new owners of your money.

The beauty of poker is that the same basic principles for sustainable profitability exist at any level of play. Adopt the following guidelines, and you’ll be on your way to experiencing consistent poker success:

1) Set a budget and a time limit. Many players think this simply means determining how much money you would like to profit before leaving a table. That is partly true. You must also set a maximum loss you’re willing to accept. If you cross either threshold, you must have the discipline to get up and live to fight another day. The same concept applies for setting time limits. People simply aren’t as fresh in hour 8 of an activity as they are in hour 1. Set a reasonable time limit for yourself and stick to it to avoid tired and undisciplined play.

2) Focus during online poker tournament. When playing online, it is easy to get distracted. Whether that means joining several tables at once, or visiting various websites in between hands, your focus can be easily fractured. When you are starting out, try to imagine your online poker room as though it were a live casino. Focus on each hand, watch for tendencies, and play one game at a time.

3) Develop thick skin. Poker is not personal - its business; you must play for money and not pride. Financial gain should be your only concern when making each decision. Bad beats and personal differences should die on the hand they formed. The next hand may be pocket aces, and you’ll want to focus on maximizing profit with them, not how much you want to beat the guy across the table.

 
 
 
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