If you're a poker player you will know by now that your bankroll is your poker bible. If you have no bankroll you can't play poker! This article will give you some valuable information about how to manage your bankroll and how to never go broke!
Importance Of A Bankroll
Even if you're the best poker player in the world, you need to have good bankroll management! Going bust is not the poker gods punishing you, its variance and variance is FACT. If you want to start earning a decent amount playing poker, then follow the advice in this thread. This is step one to becoming a WSOP bracelet winner.
The Chris Ferguson Method:
I read an article a while back written by Chris about his transformation of $1 into $20,000. He used the following method to make sure he could handle his variance swings. He played cash games and made sure that he always had 20 buyins. These were not full buyins they were half buyins. If you wanted to play $0.01/$0.02 cash games, the max buyin is $2 and therefore you would buyin for $1. This would mean that you would have to have $20 to be properly bankrolled for $0.01/$0.02. Likewise, if you had 100 you then you are bankrolled for $0.05/$0.10. If you ever go BELOW 20 buyins then you need to drop down to a level where you are properly bankrolled.
This method has been tried and tested. It's a good method as long as you stick to it. You must be prepared to hit bad variance and move down a level or two if you need to. Discipline is KEY for this bankroll method.
