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I didn't ever finish that Medium post but my biggest regret and mistake in my poker career was not gambling enough. I used to see videos of @BrynKenney speaking about his swings and cringe, but looking back I cringe because he was completely right and I was so far off [thread]
Bankroll management doesn't take into account future opportunity to make money and the fact you can have a bankroll given back to you either by grinding yourself or via being staked. If you really truly believe in yourself and your passion then selling/swapping is sacrificing
Way too much ev. If you're young, single, no responsibilities then you, IMO should very often be going close to going broke or flirting dangerously with extremely aggressively bankroll management due to the ability to get back to where you were at if it goes bad
Obviously to do this you have to realise that when it does go bad you will have to grind very hard and more than you were intending to, but that's just a trade off. In poker once you get to $250k and you're a winner in mid/high games it's relatively easy to sail upwards to $1or2m
However it's very tough to get to $5m - $10m. I personally believe swapping is the most overrated tactic in bankroll management. Let say you swap 5% with 10 guys every Sunday in Sunday Million and you have bankroll of around 50k. You have a losing Sunday and go from 50k to 45k
One of your swaps wins for 150k and you get 7.5k back and at 52k. Sure it's good result, but not career changing. The week after you win 150k and have to give away 75k. Going from 50k to 125k or going from 50k to 200k is quite a big difference. Later in your career you've gridned
To around $700k. You have a Sunday where you lose 20k but your swap wins biggest tournament of the year for $1m!! You go to $730k roll. The next week you win it and instead of going to $1.7m you go to $1.2m. Usually imo the upsides of swapping aren't huge but the downsides can be
Gto swapping is swapping 25%+ with people where it can be more year saving rather than session saving. Almost every professional poker player in the world has opportunity to play games out of their traditional BRM that are high ev but turn them down to keep on the "steady grind"
Again, when you get older and there's less time to grind back, or your baby needs food etc of course it's completely different. But as a 18-24 year old willing to commit 100% to the game I believe the industry pushes them to be too conservative.
Please gamble responsibly!
Other points
- poker players bad at accounting, swapping small with lots of people usually get unintentionally freerolled on smaller amounts
- if you lose in bigger buyin, you usually learn something big, get more inspired or network really well. Losing is winning sometimes!
- poker players bad at accounting, swapping small with lots of people usually get unintentionally freerolled on smaller amounts
- if you lose in bigger buyin, you usually learn something big, get more inspired or network really well. Losing is winning sometimes!
Often the mindset of protect comes after getting lucky. If you go from $5k to $100k as a 20 year old it's so natural to want to protect that $100k and scariest thing in world is to lose it. When I was 20 I only spoke to 18-22 year olds a lit poker/brm/life etc. However...
I believe it would have been great to be mentored from 25+ year old who has made mistakes over those last 5 years. I'm currently 30 and now speak with people my age. Is there any 40 year olds who have advice for 30 year olds about mistakes they made potentially financially/wte?
Main event for example, under 25 years old, bankroll 70k+ = yolo 100%. 7bis seems nuts, but you're not going to play it 100x. It's chance of sick score in super high roi situation, if it goes bad, nothing changes and you probably learn how pain feels at higher bi etc.
