jay_beckner

I play poker and trade options, seeking edges from study, reflection and analytics.

Player Without a Roll

Player Without a Roll

There is something about keeping a physical bankroll that cannot be matched emotionally.
— Doug Hull

This quote from Episode 83 of The Official Red Chip Poker Podcast, Bankroll Management 101, should resonate with anyone working to make money in poker.

I've said, risk takers' relationships with capital are unique, personal. They are based on deep experiential and psychological factors and, flatly, how much cash is available.

When poker players say you need x buy-ins (e.g. 40) at your regular stakes plus living expenses to play professionally, take the advice with a grain of salt. My experience says iterate to your own number that puts you squarely in the power band of variance that matches your proven style -- too few (buy-ins) and you can't play your game, too many and decisions are trivialized.

For a variety of reasons, you can get out of tune and not know it (until life pinches you). You realize your risk tolerance has been subconsciously compressing for some time, and suddenly you can't work. When you don't have bankroll separate from living expenses the changes can be even harder to see.

Practical bankroll example: Playing 1/2 and 1/3 NL in Las Vegas, Doug keeps a $1,500 physical bankroll plus a casino lock box for his work money, separate from living expenses.

To get the physical bankroll edge, and work money separate from living expenses, I just eliminated all interest accruing debt and took myself out of the game, temporarily. Heck, I've only played 3 live sessions this quarter.

This post's lead image isn't exaggerating much my current liquidity. Once my car sells, I'll lose one form of mobility, gain another and potentially address the location and volume issues. And conclude this poker camping experiment...

In this quantified life, too many aspects look like a falling wedge pattern. I hope my efforts manifest a reversal soon!

yayandrew

yayandrew

Quarterly Report

Quarterly Report