Monday, January 31, 2005

Stop/Loss and Winning

I knew he knew but why did Chris Ferguson tell every one else in his commercial! Check them all out here.

I don't know why but unlike some other players I have talked to lately, I am running hot! I wish I could extend January for a couple more weeks! My limit game is on cruise control for the last 12 sessions. Only posted 2 losing sessions so far and I have won far more than I lost. This is part of the reason:

Notice 93o is UTG!!


How long is a winning session? I know this may sound dumb, and I know some of you are saying "Duh! When is enough enough?" but I know a lot of players who have stop loses and I too play with that in mind. Someone on ITH wrote Howard Lederer about bankroll requirements and he wrote back and said,

Money management is very important. You should never let yourself lose more
than 30 big bets in limit or 50 big blinds in no-limit in one day. That way
you can't steam off too much of your bank roll in one day. The game isn't
going anywhere. You can always play the next day after you have had a good
night's sleep.

I think you should have at least 300 big bets before moving up. You should
also be willing to move down quickly if you start to lose. Best of luck,

Howard Lederer

Now I know this might be a stock answer but it made for a nice discussion

What about an above average hot streak? An example: I could only get an hour in this AM because I had errands to run and already decided I would get another session in this afternoon before my regular evening one. I post in CO and get 63o and flop OESD. I hit on turn for 6 bb's. Two hands later QQ for 8 bb's. 4 hands later 77 flops set for 10 bb's and then the ultimate AA in BB with 7 people limping and flop of KKA, two suited, flush hits on turn and I get river capped between 3 people. 28 bb's!

I am up about 45 bb's (No, I didn't win every time) in about 34 minutes. After another orbit and a half of no cards, I left, even though I had only about half a session in. I felt that that was it for cards and I gave a few bb's back at the end with good cards not hitting. Not sure if that was right or wrong play but I decided that it was an above average streak to hit and I wanted to save the profit. As we all know, luck plays a factor also. If it wasn't for luck, Phil Hellmuth would win everytime! I think I got lucky and took the profit and ran.

There is no mathmatical formula for when a winning session is over. I just think when you run above average hot for a while and you profit is healthy...stop. Like Howard says "The game isn't going anywhere. You can always play the next day..."

Enjoy the commercials!

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